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 Healthcare Weekly (May12)-Policy Catalyst in Medical Device, GLP-1 Overvaluation, Pientzehuang

BeiGene (6160.HK/​BGNE.US/688235.CH) 24Q1- A Breakeven Point Is on the Horizon, but It Is Not Stable

China National Medicines (600511.CH) - After Restructuring, Performance Growth Is Guaranteed

WuXi AppTec (2359.HK/603259.CH) - Behind the Plunge Is a War

WuXi AppTec (2359.HK/603259.CH) 2023 Results - Time to Prepare for the Worst

Latest Impact of the US Biosecure Act on WuXi AppTec/WuXi Bio/WuXi XDC - China CXO Really Game Over?

Important New Policy for China’s Innovative Drugs – The Game Rule Is About to Change Radically

Hutchmed China Ltd (13.HK/​​HCM.US) - High Growth Is Expected from 2024 to 2026

Equity Bottom-Up

<ul>
<li>The growth of TIDES business slowed down, and revenue decreased QoQ despite increasing production capacity.As the main growth point of WuXi AppTec’s future performance, this is not a good signal.</li>
<li>Due to BIOSECURE Act, US companies have been negotiating with other contract manufacturers so as to reduce reliance on WuXi AppTec.Let’s see the situation of new orders in following quarters.</li>
<li>WuXi AppTec’s performance recovery is closely related to the pace of Fed's interest rate cuts. From the perspective of growth outlook/macro environment/geopolitical conflicts, WuXi AppTec is still in "dangerous period".</li>
</ul>


The growth of TIDES business slowed down, and revenue decreased QoQ despite increasing production capacity.As the main growth point of WuXi AppTec’s future performance, this is not a good signal.
Due to BIOSECURE Act, US companies have been negotiating with other contract manufacturers so as to reduce reliance on WuXi AppTec.Let’s see the situation of new orders in following quarters.
WuXi AppTec’s performance recovery is closely related to the pace of Fed's interest rate cuts. From the perspective of growth outlook/macro environment/geopolitical conflicts, WuXi AppTec is still in "dangerous period".


WuXi AppTec (2359.HK/603259.CH) - The Pain of 2024 Has Just Begun