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 (Oct.21) - Electrophysiology VBP; Orthodontics VBP New Progress; HPV Vaccine

Shanghai Bio-Heart Biological Technology (2185.HK) - The Bubble Will Eventually Burst

Zhifei Biological Products (300122.CH) - More Downside Ahead, with Untenable Logic in HPV Vaccine

About the Recent Rebound in China Healthcare and the Future Direction (Updated Top Picks)

MicroPort NeuroTech (2172.HK) 22H1 - Advantages Deserve Recognition, but with Overvaluation Risk

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

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

Equity Bottom-Up

<ul>
<li>We saw some rebounds of <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 share price recently, which was mainly driven by the catalysts from the policy side. However, such rebounds would not last. </li>
<li>Microport’s development mode is unfavorable to investors. It’s not surprising for Microport to underperform or its valuation to be lower than expected. We recommend investors to focus more on Microport's subsidiaries.</li>
<li>The communication between Microport and investors has a problem, leading investors to think the management's no longer credible. How to repay the US$700 million convertible bond is also a problem.</li>
</ul>


We saw some rebounds of Microport Scientific (853 HK)’s share price recently, which was mainly driven by the catalysts from the policy side. However, such rebounds would not last. 
Microport’s development mode is unfavorable to investors. It’s not surprising for Microport to underperform or its valuation to be lower than expected. We recommend investors to focus more on Microport's subsidiaries.
The communication between Microport and investors has a problem, leading investors to think the management's no longer credible. How to repay the US$700 million convertible bond is also a problem.


Beijing Chunlizhengda Medical Instruments (1858 HK)

Beijing Chunlizhengda Medical Instruments

Shanghai MicroPort Endovascula (688016 CH)

Microport Scientific (853.HK) - Underperformance Would Be the Norm