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.

CSRC’s IPO Reform and Its Impact on China Healthcare Investment

Pre-IPO Xiamen Yan Palace Bioengineering - Concerns About Profitability and Growth Sustainability

China Healthcare Weekly (Sep.8)- 9th VBP, Reliable Profit Model of Biotech, Medlive, China's Outlook

WuXi AppTec (2359.HK/603259.CH) 23H1 - Is It Time to Start Being Optimistic?

Hangzhou Tigermed Consulting (3347.HK/300347.CH) 2022H1 - The Time Bomb Is Ticking

Hangzhou Tigermed Consulting (3347HK)-Turning Point Emerge, Followed by Sharp Decline in Performance

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

Equity Bottom-Up

Hangzhou Tigermed Consulting C / Equity Bottom-Up

<ul>
<li>In 23H1, Tigermed’s net profit attributable to shareholders has changed from a negative growth trend in 2022. However, net profit growth brought by its main CRO business was not impressive.</li>
<li>With the reform of domestic new drug approval policies, domestic CRO demand would decrease. Since Tigermed mainly provides early-stage CRO services, it’s more susceptible to negative changes of financing environment.</li>
<li>Tigermed’s performance growth would slow down in 2023. Although valuation is in the bottom range, we recommend investors to take profits in time for any rebound in the stock price.</li>
</ul>


In 23H1, Tigermed’s net profit attributable to shareholders has changed from a negative growth trend in 2022. However, net profit growth brought by its main CRO business was not impressive.
With the reform of domestic new drug approval policies, domestic CRO demand would decrease. Since Tigermed mainly provides early-stage CRO services, it’s more susceptible to negative changes of financing environment.
Tigermed’s performance growth would slow down in 2023. Although valuation is in the bottom range, we recommend investors to take profits in time for any rebound in the stock price.


Hangzhou Tigermed Consulting (A) (300347 CH)

Hangzhou Tigermed Consulting (3347.HK) 23H1 - Performance Inflection Point Has Not yet Arrived