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.

Wuxi Biologics (2269.HK) 2021Q3 - The Strength and the Concerns Behind the New Full-Year Guidance

Pre-IPO Adlai Nortye - Insights on Pipeline and Concerns

Pre-IPO Huayuan Medical Group Holding - How to Tell a Good Story After the COVID-19 Magic Disappear?

Pharmaron Beijing Co Ltd (3759.HK) 2021Q3 - Still Takes Time to Challenge Wuxi AppTec

WuXi AppTec (2359.HK/603259.CH) 2021Q3 - Logic Change?

Shanghai Medicilon (688202.CH)- Concerns on Long-Term Outlook Despite Amazing Short Term 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>
<a href="https://www.smartkarma.com/entities/hangzhou-tigermed-consulting-co-ltd-1008d609-73bd-4d76-8315-b29502a448ff" target="_blank" data-smartkarma-citation="entities:29212:1" rel="noopener">Hangzhou Tigermed Consulting (H) (3347 HK)</a> has released its 2021Q3 results, which indicated strong growth. However, if seen from the prior years, it may not be the case.</li>
<li>Tigermed seems to be more interested in investment business and M&amp;A, but the potential risks should be aware of by investors.</li>
<li><span>Compared with peers (<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec Co. Ltd. (2359 HK) </a>and <a href="https://www.smartkarma.com/entities/pharmaron-beijing-co-ltd" target="_blank" data-smartkarma-citation="entities:28428:1" rel="noopener">Pharmaron Beijing Co Ltd-H (3759 HK)</a>), Tigermed is lagging behind in terms of CDMO business, integration and overseas business layout.</span></li>
<li><span>We are conservative about Tigermed’s outlook based on our analysis.</span></li>
</ul>



Hangzhou Tigermed Consulting (H) (3347 HK) has released its 2021Q3 results, which indicated strong growth. However, if seen from the prior years, it may not be the case.
Tigermed seems to be more interested in investment business and M&amp;A, but the potential risks should be aware of by investors.
Compared with peers (WuXi AppTec Co. Ltd. (2359 HK) and Pharmaron Beijing Co Ltd-H (3759 HK)), Tigermed is lagging behind in terms of CDMO business, integration and overseas business layout.
We are conservative about Tigermed’s outlook based on our analysis.


Hangzhou Tigermed Consulting (3347.HK/300347.CH) - More of an Investment Company than a CRO