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 BrainAurora Medical Technology - The Outlook Is Highly Uncertain

Pre-IPO Medtide - The Industry, the Business and the Concerns

Pre-IPO Tong Ren Tang Healthcare Investment - Profitability and Growth Sustainability Are Worrying

Pre-IPO Bayzed Health Group - Here Are the Concerns and Potential Risks

Equity Capital Markets

BrainAurora Medical Technology / Equity Capital Markets

<ul>
<li>If the System or this treatment method is really effective and accepted by hospitals/doctors, under the coverage of medical insurance catalog already, why BrainAurora’s revenue scale is still so small?</li>
<li>CSRC questioned BrainAurora’s high selling expenses. Since either SG&amp;A or R&amp;D expenses already exceed revenue, BrainAurora would continue to suffer from losses. The Company hasn’t established a solid profit model.</li>
<li>BrainAurora completed a total of 7 rounds of financing, with a post investment valuation of RMB2.7 billion. However, it is difficult for BrainAurora to match this high valuation after IPO.</li>
</ul>


If the System or this treatment method is really effective and accepted by hospitals/doctors, under the coverage of medical insurance catalog already, why BrainAurora’s revenue scale is still so small?
CSRC questioned BrainAurora’s high selling expenses. Since either SG&amp;A or R&amp;D expenses already exceed revenue, BrainAurora would continue to suffer from losses. The Company hasn’t established a solid profit model.
BrainAurora completed a total of 7 rounds of financing, with a post investment valuation of RMB2.7 billion. However, it is difficult for BrainAurora to match this high valuation after IPO.


Pre-IPO BrainAurora Medical Technology (PHIP Updates) - Some Points Worth the Attention