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.

China Healthcare Weekly (Jun.24)-7th National VBP, Online Pharmacy New Policy, OK Lens Rules Relaxed

Gushengtang (2273.HK) - The Development Momentum Is Good, but There Are Also Challenges

Pre-IPO Rainmed Medical - The Industry, the Business and the Concerns

Concerns and Outlook on China Neuro-Interventional Industry

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

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

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

Equity Capital Markets

MicroPort NeuroTech / Equity Capital Markets

<ul>
<li>The advantages of NeuroTech are mainly reflected in the comprehensive product portfolio and stable product performance, with higher gross margin, stronger cost control ability and first-mover advantage than its peers.</li>
<li>The major concerns here are the domestic shrinking market size due to the centralized procurement, the fierce market competition and the pain points on its sales model.</li>
<li>In terms of valuation, our view is that NeuroTech’s valuation could be higher than that of the peers such as Zylox-Tonbridge, HeartCare Medical, Peijia Medical and Sino Medical.</li>
</ul>


The advantages of NeuroTech are mainly reflected in the comprehensive product portfolio and stable product performance, with higher gross margin, stronger cost control ability and first-mover advantage than its peers.
The major concerns here are the domestic shrinking market size due to the centralized procurement, the fierce market competition and the pain points on its sales model.
In terms of valuation, our view is that NeuroTech’s valuation could be higher than that of the peers such as Zylox-Tonbridge, HeartCare Medical, Peijia Medical and Sino Medical.


Shanghai HeartCare Medical Technology (6609 HK)

Zylox-Tonbridge Medical Technology (2190 HK)

Pre-IPO MicroPort NeuroTech - The Industry, the Business and the Concern