Fudan Zhangjiang Applies for Listing in China; Chinese Healthcare Stocks Rally
On March 11, Shanghai Fudan Zhangjiang Bio-Pharmaceutical, or FD-ZJ, announced plans to issue A shares on the Sci-Tech Innovation Board at the Shanghai Stock Exchange. This announcement caused FD-ZJ’s share price to rally 26% and galvanized the entire Chinese healthcare sector. Narrow-moat Shanghai Pharmaceuticals Holding owns 23% of FD-ZJ; SPH’s A shares rallied 10%, although its H shares experienced a modest increase of 4%. While we believe SPH’s H shares are undervalued, this listing announce...Sinopharm Group is a distributor of pharmaceutical and healthcare products, and a supply chain services provider in the People's Republic of China. Through its subsidiaries, Co. is engaged in the distribution of medicines and pharmaceutical products to customers including hospitals, other distributors, retail drug stores and clinics; operation of pharmaceutical chain stores; and distribution of laboratory supplies, manufacture and distribution of chemical reagents, and production and sale of pharmaceutical products and distribution of medical device.
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