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.

IRay Technology (688301.CH) - Limited Market Space Casts Doubt on Future Growth Potential

IRay Technology (688301.CH) - Overvalued; Performance Deceleration Will Lead to Valuation Correction

China Healthcare Weekly (Oct.14) - State Finance Discount for Medical Device; IVD VBP; VBP Changes

Genscript Biotech - Commercialized CAR-T & Strong CGT CDMO Indicate Exponential Growth in Valuation

Pre-IPO Top Glove Corp - The Good Times Brought by COVID-19 Are Slipping Away

Pre-IPO Intco Medical Technology - Economies of Scale or Overcapacity?

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

Equity Bottom-Up

Intco Medical Technology  Lt / Equity Bottom-Up

<ul>
<li>Due to the reduction of glove selling price, lower demand, significant cost hike and inflation, it is expected that Intco would continue to face declining performance and margins. </li>
<li>Under current circumstances, supply exceeds demand. The overcapacity could lead to substantial asset impairment. So, it would take some time before the industry clearing is finished or reach new balance.</li>
<li>Intco’s weak performance would continue. Its share price is likely to remain depressed for some time.So, it may not be wise to bottom fishing that early even with low valuation.</li>
</ul>


Due to the reduction of glove selling price, lower demand, significant cost hike and inflation, it is expected that Intco would continue to face declining performance and margins. 
Under current circumstances, supply exceeds demand. The overcapacity could lead to substantial asset impairment. So, it would take some time before the industry clearing is finished or reach new balance.
Intco’s weak performance would continue. Its share price is likely to remain depressed for some time.So, it may not be wise to bottom fishing that early even with low valuation.


Intco Medical Technology (300677.CH) - Declining Performance & Overcapacity Indicate Gloomy Outlook