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 PegBio Co., Ltd. - This GLP-1 Biotech Has Gloomy Outlook

Pre-IPO Qyuns Therapeutics (PHIP Updates) - Some Points Worth the Attention

WuXi XDC Cayman (2268.HK) - Would It Be An "Oasis in the Desert"?

WuXi AppTec (2359.HK/603259.CH) - How Bad Things Could Be?

Ping An Healthcare and Technology (1833.HK) - Valuation Could Fall Again Due to Clear Growth Ceiling

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

Equity Bottom-Up

Ping An Healthcare and Technology / Equity Bottom-Up

Ping An Healthcare and Technology (1833 HK)

<ul>
<li>Fang Weihao's departure means PAGD's strategic transformation failed. The business model of being a "vassal" of Ping An Group seems hard to bring high valuation due to “discounted” growth potential.</li>
<li>PAGD is at a crossroads. The question is which development path will the new CEO choose - Follow Fang Weihao's strategy or return to the traditional Internet healthcare business model?</li>
<li>Both directions have painful costs that investors will not be happy with. Therefore, we recommend that investors remain sober and rational in the face of the bullish view on PAGD.</li>
</ul>


Fang Weihao's departure means PAGD's strategic transformation failed. The business model of being a "vassal" of Ping An Group seems hard to bring high valuation due to “discounted” growth potential.
PAGD is at a crossroads. The question is which development path will the new CEO choose - Follow Fang Weihao's strategy or return to the traditional Internet healthcare business model?
Both directions have painful costs that investors will not be happy with. Therefore, we recommend that investors remain sober and rational in the face of the bullish view on PAGD.


Ping An Healthcare and Technology (1833.HK) - Valuation Logic May Completely Change Due to New Path