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.14) - State Finance Discount for Medical Device; IVD VBP; VBP Changes

Bloomage Biotechnology (688363.CH) - Positioning and Strategic Layout Imply Strong Upside Potential

CanSino Biologics Inc (688185.CH/6185.HK) - Some Positive Progress in Business

Pre-IPO Laekna - Low Cost Performance of License-In Mode Leads to A "Rethink" Of Investment Value

Pre-IPO Jenscare Scientific - Difficult to Achieve Expected Commercialization Results

Pre-IPO AIM Vaccine - AIM Is Overvalued, with Uncompetitive Pipeline and Challenging Outlook

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

Equity Capital Markets

<ul>
<li>The strength about Giant Biogene is that the founders have R&amp;D background, which helps build trust. Meanwhile, the financial performance was good, with three years of consistent high margins.</li>
<li>The sustainability of high-profit model will face pressure due to increasing competition. The establishment of long-term core competitiveness and second growth point is important. Complex related-party transaction is another concern.</li>
<li>Giant Biogene is in an industry that has a large potential for future growth in valuation. Its valuation should be lower than that of Bloomage and Imeik.</li>
</ul>


The strength about Giant Biogene is that the founders have R&amp;D background, which helps build trust. Meanwhile, the financial performance was good, with three years of consistent high margins.
The sustainability of high-profit model will face pressure due to increasing competition. The establishment of long-term core competitiveness and second growth point is important. Complex related-party transaction is another concern.
Giant Biogene is in an industry that has a large potential for future growth in valuation. Its valuation should be lower than that of Bloomage and Imeik.


Guangdong Marubi Biotechnology (603983 CH)

Imeik Technology Development C (300896 CH)

Yunnan Botanee Bio-Technology (300957 CH)

Pre-IPO Giant Biogene - The Strength and the Concerns