HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Haier Group to Buy $1.8B Stake in Shanghai RAAS from Grifols – A New Chapter Begins

China Healthcare Weekly (Jan.26)- Stocks Best Buying Point, Tragic PD-L1, Tiantan Biological Product

China Healthcare Weekly (Feb.2) - US Strike on China CXOs, CSPC Innovation, Peach Picking Period

WuXi XDC Cayman (2268.HK) - Would It Be An "Oasis in the Desert"?

Gushengtang (2273.HK) - 2023 Full-Year Performance Would Exceed Expectations

Pre-IPO MIXUE Group - The Snow King Opens up a Lot More Room for Imagination than Expected

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Escalation of Israel-Hamas War - Here's How Investors Should Position Themselves in Dramatic Changes

Equity Bottom-Up

<ul>
<li>23Q3 revenue would increase by 15% QoQ/over 40% YoY. 23Q4 revenue would increase 8-10% QoQ/over 45% YoY. 2023 full-year revenue growth would be 42-43%.Profit growth is more optimistic than revenue.</li>
<li>In the first week of January 2024, YoY high growth momentum continued from December 2023, without any impact of consumption downgrades so far.In 2024, Gushengtang would accelerate pace of M&amp;A.</li>
<li>Gushengtang’s business model has been successfully validated. Different from Aier, Gushengtang is still in a period of rapid expansion. The Company remains our top pick in China’s medical service sector.</li>
</ul>


23Q3 revenue would increase by 15% QoQ/over 40% YoY. 23Q4 revenue would increase 8-10% QoQ/over 45% YoY. 2023 full-year revenue growth would be 42-43%.Profit growth is more optimistic than revenue.
In the first week of January 2024, YoY high growth momentum continued from December 2023, without any impact of consumption downgrades so far.In 2024, Gushengtang would accelerate pace of M&amp;A.
Gushengtang’s business model has been successfully validated. Different from Aier, Gushengtang is still in a period of rapid expansion. The Company remains our top pick in China’s medical service sector.


Gushengtang (2273.HK) - Some New Business Updates and Positive Performance Forecasts