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 TCM (570.HK) Update - Despite Doubts, This Privatization Seems “Mandatory”

Sciclone Pharmaceuticals (6600.HK) - The Privatization Offers a Good Exit Opportunity

L'Occitane (973.HK) Privatization - The Offer Price Is Good Enough

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

Event-Driven

<ul>
<li>Some shareholders have confirmed to be acting in concert at the Court Meeting, but long-term investors may vote against the privatization because they are not satisfied with the Cancellation Price.</li>
<li>The success rate of SciClone’s privatization is lower than that of China TCM and <a href="https://www.smartkarma.com/entities/l-occitane-international-sa" target="_blank" data-smartkarma-citation="entities:6772:1" rel="noopener">L'Occitane</a>. If fails, there's a high probability that the share price will fall back to HK$14/share.</li>
<li>The current share price cannot provide decent returns. Together with exchange rate risk, potential failure risks, etc., there's no need for investors to take risks at this share price level.</li>
</ul>


Some shareholders have confirmed to be acting in concert at the Court Meeting, but long-term investors may vote against the privatization because they are not satisfied with the Cancellation Price.
The success rate of SciClone’s privatization is lower than that of China TCM and L'Occitane. If fails, there's a high probability that the share price will fall back to HK$14/share.
The current share price cannot provide decent returns. Together with exchange rate risk, potential failure risks, etc., there's no need for investors to take risks at this share price level.


China Traditional Chinese Medicine (570 HK)

Sciclone Pharmaceuticals (6600.HK) Privatization Update - Some "Unstable Factors" During Voting