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.

China Healthcare Weekly (Sep10)-2021H1 Results Summary,Hospital Compensation Reform,Injection Export

InnoCare Pharma Ltd (9969.HK) - Risk of Becoming Mediocre

China Healthcare Weekly (Sep17) - A New Round of Rebalancing, Artificial Joints VBP, Genetic Testing

Innovent Biologics (1801.HK) - The Strength and the Concerns

Jiangsu Hengrui Medicine (600276.CH) - Insights on Recent Pullback and Future Business Prospects

Pre-IPO BeiGene Ltd - Concerns on Commercialization

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

Equity Bottom-Up

Jiangsu Hengrui Medicine / Equity Bottom-Up

<p>On August 19, 2021, <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH)</a> released its 2021/1H financial results. The revenue was RMB13.3 billion, up 17.58% YoY. Net profit was RMB2.66 billion, up just 0.37% YoY, almost no growth, which was highly unusual. The sales of the key product PD-1 also showed negative growth with the price reduction of about 85% due to the volume-based purchase (VBP). Therefore, after the 2021/1H performance was released, Hengrui’s share price tumbled to a new 52-week low of RMB44.33/share by the end of August 30, 2021 . This insights mainly analyze the concerns and the outlook of the Company.</p>

On August 19, 2021, Jiangsu Hengrui Medicine (600276 CH) released its 2021/1H financial results. The revenue was RMB13.3 billion, up 17.58% YoY. Net profit was RMB2.66 billion, up just 0.37% YoY, almost no growth, which was highly unusual. The sales of the key product PD-1 also showed negative growth with the price reduction of about 85% due to the volume-based purchase (VBP). Therefore, after the 2021/1H performance was released, Hengrui’s share price tumbled to a new 52-week low of RMB44.33/share by the end of August 30, 2021 . This insights mainly analyze the concerns and the outlook of the Company.

Harbin Gloria Pharmaceuticals Co, Ltd. (002437 CH)

Jiangsu Hengrui Medicine (600276.CH) - The Concerns and the Outlook