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.

Sinopharm Group Co (1099.HK) - Double-Digit Growth Is Expected in 2023; Margins Have Room to Improve

Jiangsu Hengrui Medicine (600276.CH) 2022/23Q1 - The Situation Is Not as Optimistic as Imagined

Pre-IPO YSB Inc (YSB.HK) - The Business Model Is Facing Challenges

China Healthcare Weekly (Apr.14)- Surgical Robot VBP, Only 5 Biotech to Stand Out, Jafron Biomedical

Pre-IPO New Ruipeng Pet Group (RPET.US)- The Industry, the Business and the Concerns

ClouDr Group (9955.HK) -  “A Dark Horse” to Beat JD Health

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

Equity Capital Markets

New Ruipeng Pet Group / Equity Capital Markets

<ul>
<li>New Ruipeng’s revenue growth continued to slow down. Investors would be hardly happy with the weak profitability, which is hard to improve due to heavy asset model and industry characteristics.</li>
<li>The more New Ruipeng expands, the more losses it incurs. We call it “diseconomies of scale”.The Company is at an impasse, and even face survival problem due to limited cashflow.</li>
<li>The industry immaturity cannot support the company's rapid expansion. If the stock price doesn't perform well or even the IPO fails, capital would reconsider whether to invest in this field.</li>
</ul>


New Ruipeng’s revenue growth continued to slow down. Investors would be hardly happy with the weak profitability, which is hard to improve due to heavy asset model and industry characteristics.
The more New Ruipeng expands, the more losses it incurs. We call it “diseconomies of scale”.The Company is at an impasse, and even face survival problem due to limited cashflow.
The industry immaturity cannot support the company's rapid expansion. If the stock price doesn't perform well or even the IPO fails, capital would reconsider whether to invest in this field.


Pre-IPO New Ruipeng Pet Group (RPET.US) - The Potential Failure of Pet Healthcare and the Bleak IPO