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.

2025 Capital Market Outlook (Part 1) - Take Profits in Stock Market and Switch to Inflation Trade

Sino Biopharmaceutical (1177.HK) - The Positives and the Negatives

Sino Biopharmaceutical (1177.HK) 24H1 - The Concerns Behind the Performance Turnaround

CPMC Holdings (906.HK) Privatization Update - Will ORG Withdraw Midway?

Event-Driven

<ul>
<li>Sino Biopharm plans to acquire Hob Biotech through "equity transfer + voluntary partial offer". The purchase price of RMB33.74/share is expensive considering the small market size and weak fundamentals.</li>
<li>Hob may not bring much financial value/asset appreciation to Sino Biopharm. Synergies between the two is limited.The main purpose for Sino Biopharm to acquire Hob is to achieve A-share listing.</li>
<li>Future valuation performance of Hob depends on what type of assets it will receive from Sino Biopharm as well as afterwards operation, which if smooth, will significantly boost Hob’s valuation.</li>
</ul>


Sino Biopharm plans to acquire Hob Biotech through "equity transfer + voluntary partial offer". The purchase price of RMB33.74/share is expensive considering the small market size and weak fundamentals.
Hob may not bring much financial value/asset appreciation to Sino Biopharm. Synergies between the two is limited.The main purpose for Sino Biopharm to acquire Hob is to achieve A-share listing.
Future valuation performance of Hob depends on what type of assets it will receive from Sino Biopharm as well as afterwards operation, which if smooth, will significantly boost Hob’s valuation.


CSPC Innovation Pharmaceutical-A (300765 CH)

Sino Biopharm (1177.HK) To Acquire Hob Biotech (688656.CH)- Time to Buy Hob and Sell Sino Biopharm?