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CICC: the fund's allocation to the pharmaceutical industry has dropped to a very low level and the attractiveness of core companies is gradually emerging.
According to the report released by CICC, in the past week, under the influence of the expectation of interest rate hikes in the United States and the repeated epidemic situation, the stock market as a whole has undergone a relatively large adjustment, especially in the core assets with higher valuations in the pharmaceutical industry and sub-industries such as CXO (R & D and production outsourcing services) and medical services. From the financial point of view, the bank believes that the allocation of industry-wide funds to the pharmaceutical industry has been reduced to a very low level; from the valuation level of the core companies, it has been reduced to the lower-middle level in the past three years, and the valuation attractiveness has gradually emerged. The bank pointed out that despite the impact of the short-term epidemic, the leading companies have maintained strong growth through strong management capabilities.
China Resources Medical (01515.HK): Shan Baojie was appointed as executive director
[Caihua Social News] China Resources Medical (01515.HK) announced the following changes in its composition and subcommittee composition since December 30, 2021, including: (1) Ms. Fu Yanyi resigned as an executive director of the company; (2) Mr. Shan Baojie was transferred from a non-executive director of the company to an executive director of the company; (3) Mr. Hu Hui was appointed as a non-executive director of the company. (4) Mr. Cheng Libing resigned as a member of the nomination committee, Mr. Li Jiacong resigned as the chairman of the nomination committee and remained as a member of the nomination committee, and Mr. Song Qing was appointed as the chairman of the nomination committee; and (5) Mr. Shan Baojie resigned as a member of the audit committee. Hu Hui
[brokerage focus] Citigroup cut China Resources Medical (01515) target price of 32.5 to 5.20 Hong Kong dollars lower earnings per share for the next three years
Phoenix New Media Hong Kong stock | Citigroup issued a research report that China Resources Medical announced the latest progress on the dispute over the "Yanhua LOT Agreement" in November 2021. The Beijing higher people's Court rejected the appeal against Yanhua Phoenix and Yanhua Hospital, upheld the original judgment and ruled that the judgment was final. Citi said it was cautious about the operation of existing hospitals under government budget control and said the acquisition of new hospitals was slower than expected. The bank adjusted its sales forecasts for general hospital services, hospital management services and supply chain management business, and lowered its annual earnings per share forecast for 2021-22-23 by 10% per share by 18% per share.
Changes in Hong Kong stocks | China Resources Medical (1515.HK) rose more than 4% and was favored by many institutions.
China Resources Medical (1515.HK) shares fluctuated at a high level, rising 4.17% to HK $4.75, with a total market capitalization of HK $6.16 billion. According to GF Securities, the company's profit growth is expected to be better than that in the first half of the year, with a net profit of 4.49 yuan per 580 million yuan in 2021-23 and a target price of HK $8.55 at a target price of 8.55 Hong Kong dollars. China Merchants (Hong Kong) believes that National Healthcare Security Administration recently issued "National Healthcare Security Administration's Circular on issuing a three-year Action Plan for the Reform of DRG/DIP payment methods", China Resources
GF Securities Co., LTD.: maintain the target price of HK $8.55 for China Resources Medical (01515) "Buy" rating
Zhitong Financial APP learned that GF Securities Co., LTD. issued a research report saying that to maintain China Resources Medical's (01515) "buy" rating, it is estimated that the 2021-23 net profit of return to the mother is 4.495.13 / 580 million yuan, and PE is 9.6 PE 8.5 times. China Resources Medical has rich experience in hospital management, through continuous mergers and acquisitions + to improve the operational efficiency of existing hospitals with two-wheel-driven growth, with reference to the valuation of comparable companies and taking into account the current illiquidity of Hong Kong stocks, 18 times PE in 22 years, with a target price of HK $8.55. GF Securities Co., LTD. 's main points are as follows: the national epidemic situation has been effectively controlled and the company's business has grown steadily.
[brokerage focus] the purchase rating of China Resources Medical (01515) is expected to benefit from DRG/DIP reform.
Phoenix New Media Hong Kong Stock Market | China Merchants (Hong Kong) issued a research report that National Healthcare Security Administration recently issued the "notice of National Healthcare Security Administration on issuing a three-year Action Plan for the Reform of DRG/DIP payment methods"; the action plan requires: 1) to achieve national hospitalization service coverage in medical institutions within three years from 2022; and 2) Diagnostic grouping, quality control of medical records, and standardization of clinical pathways. The research newspaper continued that under the implementation of the payment reform action plan, medical device enterprises will be under further pressure. The bank believes that DRG/DIP is a sharp tool for fee control, because the cost awareness of medical services (hospitalization services) will be further enhanced and will continue.
China Resources Medical (01515.HK): the sound operation is attractive compared with the comprehensive valuation of peer companies.
China Resources Medical (01515.HK): the court upheld the "Yanhua IOT Agreement" and awarded a penalty of 14.4 million yuan for breach of contract.
China Resources Medical (01515.HK) announced that the Beijing higher people's Court dismissed the appeal of Yanhua Phoenix and Yanhua Hospital on Monday (22nd), upholding the original judgment of December 18, 2019, and ruled that it was final in relation to the lawsuit against Yanhua Phoenix and Yanhua Hospital to rescind the "Yanhua IOT Agreement" with the company's subsidiary "China Resources Medical Management" from January 21, 2019, the Beijing Municipal higher people's Court rejected the above appeal of Yanhua Phoenix and Yanhua Hospital on Monday (22nd), and ruled that this was the final judgment. On December 18, 2019, the Beijing No. 2 Intermediate people's Court declared that the rescission of the IOT agreement made by Yanhua Phoenix and Yanhua Hospital was null and void, so the parties to the agreement should continue to implement the Yanhua IOT agreement.
China Resources Medical (01515): the appeal of Yanhua Phoenix and Yanhua Hospital was rejected.
Zhitong Financial and Economic APP News, China Resources Medical (01515) announced the latest progress of the dispute over the IOT agreement of Yanhua. On November 22nd, the Beijing Municipal higher people's Court issued a civil judgment No. 110in Beijing, rejecting the appeal against Yanhua Phoenix and Yanhua Hospital, upholding the original judgment, and ruling that the judgment was final.
[Hong Kong Stock Exchange] China Resources Medical (01515) affiliated to Runlian signed an information service framework agreement with Runlian Software.
Phoenix New Media Hong Kong Stock | China Resources Medical (01515) announced that the company's wholly-owned subsidiary China Resources Medical Management and Runlian Software (they represent run Associates; and they, as service providers, signed a framework agreement on information services (the service period is from the date of the agreement to December 31, 2022). Run contact Company will provide relevant information services to the group and its subordinate host hospitals according to the information service framework agreement.