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 Medbanks Network Technology - PHIP Updates: The Business Model Has yet to Be Verified

Yue Yuen Industrial Holdings (551.HK) - Challenging Prospects Overshadow Undervaluation

China Healthcare Weekly (Dec.9) - COVID Policy Update, Biotech Growth Curve, HKEX Chapter 18A Review

The Concerns and Outlook About the Recent Rally in Traditional Chinese Medicine (TCM) Sector

JD Health (6618.HK) - Opportunities Coexist with Challenges

Ping An Good Doctor (1833.HK) - A Vicious Cycle?

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

Equity Capital Markets

Medbanks Network Technology / Equity Capital Markets

Medbanks Network Technology (1690522D CH)

<ul>
<li>For Medbanks, who entered the market from the SMO business and then PBM business, building core competitiveness around this closed loop may be quite challenging.</li>
<li>The PRS business has growth ceilings; The low margins of PBM and PPS business and the increasing competition make Medbanks difficult to generate solid financial position for future business expansion.</li>
<li>Therefore, based on the analysis above, we are conservative about this Company’s outlook.</li>
</ul>


For Medbanks, who entered the market from the SMO business and then PBM business, building core competitiveness around this closed loop may be quite challenging.
The PRS business has growth ceilings; The low margins of PBM and PPS business and the increasing competition make Medbanks difficult to generate solid financial position for future business expansion.
Therefore, based on the analysis above, we are conservative about this Company’s outlook.


Ping An Healthcare and Technology (1833 HK)

Yixintang Pharmaceutical Group (002727 CH)

China National Accord Medicine (000028 CH)

DaShenLin Pharmaceutical Group (603233 CH)

Pre-IPO Medbanks Network Technology - Conservative About the Outlook