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.

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Equity Bottom-Up

Shanghai MicroPort Endovascula / Equity Bottom-Up

Shanghai MicroPort Endovascula (688016 CH)

<ul>
<li>The aortic product line would bring strong growth in 1-2 years. From 3 years or longer term, Endovascular’s peripheral vascular interventional devices would be the main driver for high growth.</li>
<li>We don’t think the centralized procurement would be a concern for the time being. As many products are or will apply for CE Mark, the progress of internationalization is promising.</li>
<li>The current valuation is very attractive. Due to the pandemic/lockdown in China and many external uncertainties, share price could go lower, but it's still a good company to invest in.</li>
</ul>


The aortic product line would bring strong growth in 1-2 years. From 3 years or longer term, Endovascular’s peripheral vascular interventional devices would be the main driver for high growth.
We don’t think the centralized procurement would be a concern for the time being. As many products are or will apply for CE Mark, the progress of internationalization is promising.
The current valuation is very attractive. Due to the pandemic/lockdown in China and many external uncertainties, share price could go lower, but it's still a good company to invest in.


Shanghai Microport Endovascular MedTech (688016.CH) 21/22Q1 - This Is a Company Worth Investing In