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.

Gushengtang (2273.HK) - 2023 Full-Year Performance Would Exceed Expectations

Gushengtang (2273.HK) - Some New Business Updates and Positive Performance Forecasts

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

WuXi AppTec (2359.HK/603259.CH) - Would the Recent Rebound in Share Price Be a Flash in the Pan?

China Healthcare Weekly (Oct.6) - Weight Loss Drug CXO, Policy-Guided Capital Flows, 3D Medicines

China's Weight Loss Drug Market – The Investment Opportunities and the Risks Behind

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

Equity Capital Markets

Guoquan Food (Shanghai) / Equity Capital Markets

<ul>
<li>Guoquan’s model is easy to replicate.The so-called “moat” is all based on scale effects, without which Guoquan would lose competitiveness.This is why Guoquan has been striving to expand franchised stores.</li>
<li>With the increasing frequency of people dining out after China reopens, the high-speed expansion in 2020 seems unsustainable. To B model has less growth space/potential than To C model.</li>
<li>In such a fiercely competitive market, Guoquan's long-term development logic is not solid. The current temporary improvement in financial performance is likely to be a flash in the pan.</li>
</ul>


Guoquan’s model is easy to replicate.The so-called “moat” is all based on scale effects, without which Guoquan would lose competitiveness.This is why Guoquan has been striving to expand franchised stores.
With the increasing frequency of people dining out after China reopens, the high-speed expansion in 2020 seems unsustainable. To B model has less growth space/potential than To C model.
In such a fiercely competitive market, Guoquan's long-term development logic is not solid. The current temporary improvement in financial performance is likely to be a flash in the pan.


Pre-IPO Guoquan Food (Shanghai) - High Growth May Not Be Sustainable; Long Logic Doesn't Hold Water