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 S.F. Holding (6936 HK) - Thoughts on Valuation and the Outlook

Ping An Healthcare and Technology (1833 HK) - About The Special Dividend and the Outlook

Pre-IPO Herbs Generation Group Holdings - Concerns Behind the Strong Growth

Greatview Aseptic Packaging (468.HK) Update - Some New Information Worth the Attention

Equity Capital Markets

Herbs Generation Group Holdings / Equity Capital Markets

<ul>
<li>Performance declined sharply in 24H1 mainly due to the decrease in orders from Customer A. Herbs Generation’s business/financial performance would be easily affected if the contributions from Customer A decline.</li>
<li>Current sales model of Herbs Generation is hard to change, and the Company still has to invest heavily in offline marketing and promotional efforts, but the efficiency is not high.</li>
<li>Herbs Generation’s ability to resist risks is relatively weak, which prevents us from building optimistic expectations for sustainable growth in the future. Valuation should be lower than peers.</li>
</ul>


Performance declined sharply in 24H1 mainly due to the decrease in orders from Customer A. Herbs Generation’s business/financial performance would be easily affected if the contributions from Customer A decline.
Current sales model of Herbs Generation is hard to change, and the Company still has to invest heavily in offline marketing and promotional efforts, but the efficiency is not high.
Herbs Generation’s ability to resist risks is relatively weak, which prevents us from building optimistic expectations for sustainable growth in the future. Valuation should be lower than peers.


Pre-IPO Herbs Generation Group Holdings (PHIP Updates) - Some Points Worth the Attention