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.

Haier Group to Buy $1.8B Stake in Shanghai RAAS from Grifols – A New Chapter Begins

China Healthcare Weekly (Jan.26)- Stocks Best Buying Point, Tragic PD-L1, Tiantan Biological Product

China Healthcare Weekly (Feb.2) - US Strike on China CXOs, CSPC Innovation, Peach Picking Period

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

Pre-IPO QuantumPharm - Good Stories May Not Be Backed up by Performance

Pre-IPO MIXUE Group - The Snow King Opens up a Lot More Room for Imagination than Expected

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

<ul>
<li>Guming generates revenue mainly from the sales of goods/equipment to its franchisees (or ToB business). So, Guming’s future growth depends significantly on its ability to operate and expand store network.</li>
<li>China’s freshly-made beverage market is highly competitive. Guming is unlikely to catch up with MIXUE, but Guming will be overtaken by the rest players if it fails to compete effectively.</li>
<li>Due to Guming’s business model, investors're hard to see the real picture of Guming solely based on its revenue/profits. Guming’s valuation should be higher than <a href="https://www.smartkarma.com/entities/nayuki-holdings" target="_blank" data-smartkarma-citation="entities:32149:1" rel="noopener">Nayuki </a>but lower than MIXUE.</li>
</ul>


Guming generates revenue mainly from the sales of goods/equipment to its franchisees (or ToB business). So, Guming’s future growth depends significantly on its ability to operate and expand store network.
China’s freshly-made beverage market is highly competitive. Guming is unlikely to catch up with MIXUE, but Guming will be overtaken by the rest players if it fails to compete effectively.
Due to Guming’s business model, investors're hard to see the real picture of Guming solely based on its revenue/profits. Guming’s valuation should be higher than Nayuki but lower than MIXUE.


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