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.

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)

Pre-IPO Shanghai Chicmax Cosmetic - The Current Development Strategy Will Not Go Far

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

Venus MedTech (2500.HK) Vs Peijia Medical (9996.HK) Vs CardioFlow (2160.HK) - Dilemma of TAVR Market

Pre-IPO MicroPort NeuroTech - The Industry, the Business and the Concern

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

Equity Bottom-Up

<ul>
<li>Due to the centralized procurement in PRC market and decreasing volume of operations in overseas markets during pandemic, <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>’s 2021 performance missed expectations. </li>
<li>Even if Microport could finally digest the negative impact of centralized procurement, its “unique” development mode would still put pressure and uncertainties on future performance/outlook, leading to lower-than-expected results.</li>
<li>Our earnings estimate of Microport in 2022 could be about HK$-1.7, and revenue estimate could be about HK$7.3 billion. It’s quite possible that the Company will not end up profitable.</li>
</ul>


Due to the centralized procurement in PRC market and decreasing volume of operations in overseas markets during pandemic, Microport Scientific (853 HK)’s 2021 performance missed expectations. 
Even if Microport could finally digest the negative impact of centralized procurement, its “unique” development mode would still put pressure and uncertainties on future performance/outlook, leading to lower-than-expected results.
Our earnings estimate of Microport in 2022 could be about HK$-1.7, and revenue estimate could be about HK$7.3 billion. It’s quite possible that the Company will not end up profitable.


Shanghai MicroPort Endovascula (688016 CH)

Shanghai HeartCare Medical Technology (6609 HK)

Shanghai MicroPort MedBot Group (2252 HK)

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