CR Phoenixhealth (1515)

Re: Phoenixhealth (1515)

Postby winston » Wed May 18, 2016 2:18 pm

<Research Report>BNP Paribas: PHOENIXHEALTH Invested by China Res; Becomes Largest PRC Hospital Group

BNP Paribas, in its report, said on 8 April, PHOENIXHEALTH (01515.HK) announced that the company will acquire main hospital assets from China Resources Healthcare Group (CRHG), including 35 hospitals and 3 senior care institutions with total annual income of RMB2.4 billion.

Upon the transaction, the new company will become the largest hospital group in mainland China.

The board of the new company will include 4 directors from CRHG and 3 management from Phoenix Health.

The group plans to issue 463 million consideration shares to CRHG at the issue price of $8.04/share, and BNP Paribas suggests this is an attractive and can boost the share price, but with limited disclosure, the target price $13.8 is unchanged and the rating Buy is kept.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Thu May 26, 2016 11:09 am

May 25, 2016

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PHOENIXHEALTH Not to Declare Final Div

PHOENIXHEALTH (01515.HK) announced that the board has resolved that the proposed final dividend for the year ended December 31, 2015 be revised to HK$0 cent per ordinary share of the company, instead of HK$11.9 cents per ordinary share of the company as previously recommended.

Although the group has cash and cash equivalents of approximately RMB822 million for the year ended December 31, 2015, the board is of the view that it would be in the best interest of the company to reserve more cash in anticipation of the potential projects and for the future development of the group.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Mon May 30, 2016 8:42 am

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PHOENIXHEALTH Two Executive Directors Add Stakes

PHOENIXHEALTH (01515.HK) 0.000 (0.000%) Short selling $3.65M; Ratio 12.814% announced that its executive directors Mr. Zhang Xiaodan and Mr. Cheng Libing acquired 1.1 million and 0.8 million shares from the open market at an average price of $10.97 and $10.96 respectively with a consideration of roughly $12.09 million and $8.79 million.

Upon completion, Zhang Xiaodan and Cheng Libing is interested in 0.32% and 0.11% of share capital of the company.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Wed Jul 06, 2016 10:28 am

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Valuation

Apart from rapid expansion, PHG also commits itself to exploring cooperative healthcare system, and constructs an integrated grading system of diagnosis and treatment.

Besides, medical supply resources are allocated from large hospitals to small hospitals through multi-site practices and driving discipline development of doctor teams within the system. These efforts will constantly boost the company's competitive edge in the domain of hospital management.

In respect of valuation, aside from shareholding of central enterprises, the company's management also acquired shares at the price of HK$9.96-10.97 / share, thereby offering adequate margin of safety.

We give the company the target price of HK$15.1, equivalent to 35x 2016 EPS, with the "Buy" rating initially.

Risks
1. Trans-municipal and trans-provincial hospital management and integration risks;
2. Insufficient talent pool;
3. Restructuring of public hospitals falls short of expectations.

Source: Phillips

http://research.cyberquote.com.hk/page/ ... 60706e.pdf
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Re: Phoenixhealth (1515)

Postby winston » Wed Aug 24, 2016 11:29 am

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<Positive Profit Alert>PHOENIXHEALTH Expects 1H16 Net Profit to Grow 20-40% YoY

PHOENIXHEALTH (01515.HK) issued positive profit alert, expecting to record an increase of around 20%-40% in consolidated net profit attributable to the shareholders of the company for the half year ended 30 June 2016 as compared with that over a year-ago period.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Thu Aug 25, 2016 1:05 pm

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Re: Phoenixhealth (1515)

Postby winston » Thu Aug 25, 2016 1:23 pm

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May 5, 2016

<Research Report>M Stanley: PHOENIXHEALTH Hospital Acquisition Raises Investor Confidence; Reiterated Overweight

PHOENIXHEALTH (01515.HK) announced for the acquisition of hospitals from CITIC Medical & Health which is the second major transaction in a month after the one with CR Healthcare.

Morgan Stanley believes the deal could further strengthen the company's pioneer role in public hospital reform and reaffirm investor confidence in the stock.

The rating was Overweight with a target price of $20.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Thu Aug 25, 2016 1:23 pm

vested

May 5, 2016

<Research Report>M Stanley: PHOENIXHEALTH Hospital Acquisition Raises Investor Confidence; Reiterated Overweight

PHOENIXHEALTH (01515.HK) announced for the acquisition of hospitals from CITIC Medical & Health which is the second major transaction in a month after the one with CR Healthcare.

Morgan Stanley believes the deal could further strengthen the company's pioneer role in public hospital reform and reaffirm investor confidence in the stock.

The rating was Overweight with a target price of $20.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Tue Nov 08, 2016 11:19 am

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PHOENIXHEALTH Buys Interests in 2 PRC Hospitals from CITIC Group at $1.24B

PHOENIXHEALTH (01515.HK) announced that it entered into SPAs and equity subscription agreements to buy certain interests in 2 hospitals in China from CITIC Group at a total consideration of $1.24 billion.

The company agreed to issue a total of 130 million consideration shares to the vendors (representing about 13.54% of total issued share capital as enlarged) at $9.5 per consideration share, representing a discount of about 23% when compared to the last closing price ($12.3).

60% interests in a hospital in Huizhou and 70% interests in a hospital in Hangzhou will be acquired at about $655 million and about $585 million respectively.

Source: AAStocks Financial News
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Re: Phoenixhealth (1515)

Postby winston » Tue Dec 06, 2016 10:08 am

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CRPHOENIXHEALTH(1515)

Analysis:

China Resources Phoenix Healthcare had 2.91 million patient visits in 1H2016, a YoY growth of 53%.

Revenue has increased 17% to RMB705Mn and net profit has increased 29% to RMB135Mn in 1H2016.

China Resources Phoenix Healthcare signed term sheet regarding to acquisition of core healthcare assets with two large scale healthcare group, namely, China Resources Healthcare and Citic Medical & Health.

Upon the completion of the acquisition, China Resources Phoenix Healthcare will own 106 medical institutions and 3 elderly care institutions, with a total of 12600 beds.

China is also undergoing rapid demographic changes, with rising disposable income and an aging population.

Healthcare sector is expected to face rapidly growing demand.

Strategy:
Buy-in Price: $11.70, Target Price: $12.50, Cut Loss Price: $11.40

Source: Phillips
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