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.

The Impact of COVID-19 and Shanghai Lockdown on China Healthcare

Re-Examine the Outlook and Investment Strategy for China Biotech and CXO

Health And Happiness (H&H) (1112.HK) - High Bankruptcy Risk Together with Gloomy Prospects

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

Equity Bottom-Up

<ul>
<li>The revenue brought by COVID-19 business wouldn’t be sustainable,and would decrease in the future. The lower-than-expected performance of the hospital services is hard to be the main driver for growth.</li>
<li>The performance contribution brought by medical tourism would be limited, just partially offset the decline of COVID-19 related revenue. Accordingly, we lowered our forecast on revenue and earnings in FY2022-FY2023.</li>
<li>Together with the concerns on China business, we have doubts about RMG’s outlook, which would weigh on bullish sentiment. In such a complicated environment, investors are recommended to play safe.</li>
</ul>


The revenue brought by COVID-19 business wouldn’t be sustainable,and would decrease in the future. The lower-than-expected performance of the hospital services is hard to be the main driver for growth.
The performance contribution brought by medical tourism would be limited, just partially offset the decline of COVID-19 related revenue. Accordingly, we lowered our forecast on revenue and earnings in FY2022-FY2023.
Together with the concerns on China business, we have doubts about RMG’s outlook, which would weigh on bullish sentiment. In such a complicated environment, investors are recommended to play safe.


Raffles Medical (RFMD SP) - Doubts About the Outlook Weigh on Bullish Sentiment

Raffles Medical Group

Raffles Medical (RFMD SP) - Doubts About the Outlook Weigh on Bullish Sentiment