OrbusNeich Medical Group Holdings Ltd

06929: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$4.44	Rwhlb	Mtmrbth

OrbusNeich: Market Selloff Unjustified, Trading Below Book Value

Yurou Zheng

Jul 10, 2024

OrbusNeich's share price reached its historical low in the second quarter of 2024, trading below its book value. We do not see a major change in the company’s fundamentals. Hence, we keep our fair value estimate of HKD 7.06 per share unchanged, indicating an upside of around 45%. Although it is difficult to time when sector rotations pivot or negative market sentiment improves, we reiterate a few basics of where OrbusNeich stands and of our investment thesis.

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