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 Zhejiang Taimei Medical Technology (PHIP Updates) - Some Points Worth the Attention

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Equity Capital Markets

Zhejiang Taimei Medical Technology Co Ltd / Equity Capital Markets

Zhejiang Taimei Medical Technology Co Ltd (1482194D CH)

Zhejiang Taimei Medical Technology Co Ltd

<ul>
<li>Taimei has transformed from a classic SaaS model to an industrial Internet platform, with value-added digital services as main source of revenue.However, this may not necessarily bring better financial performance.</li>
<li>Considering declining revenue growth/gross margin, as well as constantly increasing customer acquisition cost, it’s highly uncertain whether Taimei can successfully turn losses into profits in 2025 as expected by management.</li>
<li>The significant valuation changes in Series E/E+/F Financing attracted the attention of Shanghai Stock Exchange.Taimei is actually not confident in its future performance. Its valuation could be lower than Yidu.</li>
</ul>


Taimei has transformed from a classic SaaS model to an industrial Internet platform, with value-added digital services as main source of revenue.However, this may not necessarily bring better financial performance.
Considering declining revenue growth/gross margin, as well as constantly increasing customer acquisition cost, it’s highly uncertain whether Taimei can successfully turn losses into profits in 2025 as expected by management.
The significant valuation changes in Series E/E+/F Financing attracted the attention of Shanghai Stock Exchange.Taimei is actually not confident in its future performance. Its valuation could be lower than Yidu.


Pre-IPO Zhejiang Taimei Medical Technology - Be Cautious About the “valuation Bubble”