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 (Apr.8)-Surgical Robots Pricing Rules,America COMPETES Act,COVID-19 Sequelae

Pre-IPO Huayiwang Technology - The Business Model Is Reasonable, but There Are Also Challenges

Pre-IPO Cryofocus Medtech (Shanghai) - The Industry, the Business and the Concerns

JD Health (6618.HK) 2021 Results - The Logic and the Outlook

BeiGene Ltd (6160.HK/688235.CH) - There Is No Way to Retreat

Wuxi Biologics (2269.HK) 2021 Results - The Highlights and the Concerns

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

Equity Bottom-Up

<ul>
<li>The revenue YoY growth, net profit YoY growth and net profit margin reached a new low in 2021. The performance of Medlive cannot meet the market's expectations of high growth.</li>
<li>The medical knowledge solutions is the cornerstone business and vital to the attractiveness of platform for users. However, this business is not strong enough to make the outlook certain.</li>
<li>In the fierce competition, more efforts are needed on how to convert physician resources into business value continuously. Due to unreliable logic, we are conservative about Medlive at current stage.</li>
</ul>


The revenue YoY growth, net profit YoY growth and net profit margin reached a new low in 2021. The performance of Medlive cannot meet the market's expectations of high growth.
The medical knowledge solutions is the cornerstone business and vital to the attractiveness of platform for users. However, this business is not strong enough to make the outlook certain.
In the fierce competition, more efforts are needed on how to convert physician resources into business value continuously. Due to unreliable logic, we are conservative about Medlive at current stage.


Ping An Healthcare and Technology (1833 HK)

Medlive Technology (2192.HK) - The Logic Has Shaken