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.

Industry Report - Insights on China Companion Diagnostics Market (Business Logic and Outlook)

Pre-IPO Shanghai Chicmax Cosmetic - The Current Development Strategy Will Not Go Far

Pre-IPO Cali Biosciences - The Industry, the Business and the Concerns

Venus MedTech (2500.HK) Vs Peijia Medical (9996.HK) Vs CardioFlow (2160.HK) - Dilemma of TAVR Market

Microport Scientific (853.HK)-The “unique” Development Mode Leads to Lower-Than-Expected Performance

Lepu Medical Technology A (300003 CH) - Does Not Have High Moat

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

Equity Capital Markets

Lepu Medical Technology A / Equity Capital Markets

<ul>
<li>Lepu suffered from the negative impact of VBP on drug/medical consumables, and its share price has yet to recover. We are not optimistic about the outlook of the traditional businesses.</li>
<li>Lepu’s expansion mainly relies on continuous M&amp;A. Whether these diversified businesses will produce synergies and how much performance they will contribute need to be tested by time and the market.</li>
<li>Excessive epitaxial expansion may not be a long-term solution. Lepu needs to focus more on endogenous growth and R&amp;D,which is good for sustainable long-term growth. Such business transformation takes time.</li>
</ul>


Lepu suffered from the negative impact of VBP on drug/medical consumables, and its share price has yet to recover. We are not optimistic about the outlook of the traditional businesses.
Lepu’s expansion mainly relies on continuous M&amp;A. Whether these diversified businesses will produce synergies and how much performance they will contribute need to be tested by time and the market.
Excessive epitaxial expansion may not be a long-term solution. Lepu needs to focus more on endogenous growth and R&amp;D,which is good for sustainable long-term growth. Such business transformation takes time.


Lepu Scientech Medical Technology (Shanghai) (2291 HK)

Lepu Scientech Medical Technology (Shanghai)

Pre-IPO Lepu Medical Technology - Lepu Is in a Difficult Position and Turning It Around Takes Time