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.

Microport Scientific (853.HK)-The “unique” Development Mode Leads to Lower-Than-Expected Performance

Pre-IPO Lepu Medical Technology - Lepu Is in a Difficult Position and Turning It Around Takes Time

Industry Report - Insights on China Companion Diagnostics Market (Business Logic and Outlook)

Shanghai MicroPort MedBot Group (2252.HK) - Optimistic About the Outlook

Peijia Medical (9996.HK) Vs Venus MedTech (2500.HK) Vs CardioFlow (2160.HK)-Pain Points and Solution

Microport Scientific (853.HK) - The Favorable and the Unfavorable Aspects

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

Equity Bottom-Up

<ul>
<li>MicroPort’s net loss widened according to its profit warning. The negative impact of centralized procurement is already being shown. We analyzed the situation of its different business segments.</li>
<li>After continuous M&amp;A, <a href="https://www.smartkarma.com/entities/microport-scientific-corp" target="_blank" data-smartkarma-citation="entities:4487:1" rel="noopener">Microport Scientific (853 HK)</a> could face cash flow pressure in this unfriendly financing environment.</li>
<li>Due to MicroPort’s development mode, the market value of its subsidiaries could be higher than the parent company. Our view is that the subsidiaries would be a better investment.</li>
</ul>


MicroPort’s net loss widened according to its profit warning. The negative impact of centralized procurement is already being shown. We analyzed the situation of its different business segments.
After continuous M&amp;A, Microport Scientific (853 HK) could face cash flow pressure in this unfriendly financing environment.
Due to MicroPort’s development mode, the market value of its subsidiaries could be higher than the parent company. Our view is that the subsidiaries would be a better investment.


Shanghai HeartCare Medical Technology (6609 HK)

Shanghai MicroPort MedBot Group (2252 HK)

Microport Scientific (853.HK) - The Subsidiaries Would Be a Better Investment