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 China Resources Beverage - Here Are the Concerns and the Risks Behind

China Healthcare Weekly (May.26)-VBP Scope Expands, Optimistic About Glove Industry, China Resources

Pre-IPO Jiangxi Rimag Group (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Auntea Jenny (Shanghai) Industrial - An IPO Is a Must, but Success Is Not Guaranteed

WuXi AppTec (2359.HK/603259.CH) - Updates About the BIOSECURE Act and the Outlook

Pre-IPO Guming Holdings - The Current Market Position Is Not Secure

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

Escalation of Israel-Hamas War - Here's How Investors Should Position Themselves in Dramatic Changes

Equity Capital Markets

Belle Fashion Group / Equity Capital Markets

<ul>
<li>The core of Belle's transformation is to inject “digitalization” into existing massive store assets, with strategy of “omnichannel+multi brands”. Belle also devotes significant resources to online channels and online-to-offline integration.</li>
<li>Benefiting from the DTC retail model, Belle increases the probability of success when launching products. Licensing/acquisition are important ways to empower new brands and promote growth. Belle’s performance has rebounded.</li>
<li>However, the path of transformation hasn't yet been completed. Belle still mainly relies on heavy asset mode and is exposed to inventory risks. There ‘s still room for further improvement.</li>
</ul>


The core of Belle's transformation is to inject “digitalization” into existing massive store assets, with strategy of “omnichannel+multi brands”. Belle also devotes significant resources to online channels and online-to-offline integration.
Benefiting from the DTC retail model, Belle increases the probability of success when launching products. Licensing/acquisition are important ways to empower new brands and promote growth. Belle’s performance has rebounded.
However, the path of transformation hasn't yet been completed. Belle still mainly relies on heavy asset mode and is exposed to inventory risks. There ‘s still room for further improvement.


Belle International Holdings (2129452D HK)

Topsports International Holdings (6110 HK)

Pre-IPO Belle Fashion Group - Performance Has Picked Up, but Not yet Reversed