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 Shukun Technology - Obvious Strength in Technology/Products but Commercialization Is the Key

China Healthcare Weekly (Jun.10) - Medical Service Price Reform, Medical Device CXO, Lockdown Lifted

Pre-IPO Beijing Yuanxin Technology Group - Conservative About the Outlook

Pre-IPO ClouDr Group - The Logical Business Model Can Support Future Growth

Pre-IPO ADICON Holdings Limited - Uncertain Growth and Outlook in Post-COVID Era

Pre-IPO OrbusNeich Medical Group - The Industry, the Business and the Concerns

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

Equity Capital Markets

<ul>
<li>Mega should establish core competitiveness via entering hospital market and being recognized by hospitals. It’s not a long-term solution to exploit the market by mainly relying on Meinian.</li>
<li>Although Mega’s competitive advantage in the channels is still more obvious due to Meinian, it is actually a double-edged sword, especially when Meinian is in financial difficulty.</li>
<li>Without Meinian, whether Mega can develop independently is a question mark. In terms of valuation, BGI and Berry could be comparable companies, and Mega’s valuation could be lower than Berry.</li>
</ul>


Mega should establish core competitiveness via entering hospital market and being recognized by hospitals. It’s not a long-term solution to exploit the market by mainly relying on Meinian.
Although Mega’s competitive advantage in the channels is still more obvious due to Meinian, it is actually a double-edged sword, especially when Meinian is in financial difficulty.
Without Meinian, whether Mega can develop independently is a question mark. In terms of valuation, BGI and Berry could be comparable companies, and Mega’s valuation could be lower than Berry.


Pre-IPO Mega Genomics - Immature Market and Over-Reliance on Meinian Put Future Performance in Doubt