MSALIHI@EC2702A

Goldman Sachs: Alibaba Health's Mixed Results and Slower Growth vs JD Health Lead to Target Price Cut to HKD 4.2

HSBC cuts AliHealth profit forecasts and target price to HKD 4.5, maintains Hold rating

Citi Lowers Alibaba Health Target Price to HKD 8, Cites Heavy Investment in Innovative Drugs and AI as Short-Term Earnings Pressure

UBS Cuts Alibaba Health Earnings Forecast and Target Price, Maintains Sell Rating

JD Health and AliHealth stocks fall on GLP-1 regulatory concerns, brokers call overreaction

Citic CLSA Cuts AliHealth Target Price to 4.7, Maintains Outperform Rating

CICC Maintains Buy Rating on Ali Health with Target Price of 6.50 HKD

Alibaba Health Releases FY2026 Results, Launches Medical AI 'Hydrogen Ion' and Unveils New Strategy

Alibaba Health to unify B2C and O2O pharmaceutical business segments for synergy

Alibaba Health shares drop over 4% after annual report; Citi and BofA issue ratings

ALI HEALTH released FY2026 Q3 earnings on May 14 (BJT), actual revenue HKD 9.763 B, actual EPS HKD 0.0229

ALI HEALTH released FY2026 9 Months earnings on May 14 (BJT), actual revenue HKD 28.03 B, actual EPS HKD 0.1085

ALI HEALTH released FY2026 Q4 earnings on May 14 After-Market (BJT), actual revenue HKD 9.953 B, actual EPS HKD 0.0234

ALI HEALTH released FY2026 annual earnings on May 14, 2026, after-market BJT: Actual Revenue HKD 37.98 B (Forecast HKD 39.87 B), Actual EPS HKD 0.1324 (Forecast HKD 0.1584)

Ali Health Information Technology's Final Special Dividend to be Funded by Reduction of Share Premium Account Balance

AliHealth Q1 2026 Net Profit Hits 1.936 Billion RMB, Up 35.2% YoY

Ali Health Information Technology Announces Full-Year Revenue of 34.2551 Billion RMB

AliHealth reports full-year gross margin of 24%, estimates 24.6%

Alibaba Health Launches Medical AI 'H Ion' and Reaches an Exclusive Partnership with BMJ Group

ALI HEALTH to Release FY2026 Earnings on May 14 After-Market (BJT), Forecast Revenue HKD 40.35 B, EPS HKD 0.1601

HINSANG GROUP

RIVERINE CHINA

PASHUN INT RTS

BRAINAURORA-B

SOFTMEDX

GOLDENPOWER

ZHONGKE GROUP

VISION SYNERGY

GEMILANG INTL

GHPC

00241

ALI HEALTHfell 3% to HKD3.97, hitting a one-year low. G Sachs cut its 12-month target price from HKD4.8 to HKD4.2, citing mixed results and slower growth compared to JD HEALTH. The broker forecasts a 13% revenue growth for FY2027, down from previous estimates, due to margin pressures and investments in AI and pharmaceuticals.

AASTOCKS News

ALI HEALTH

Goldman Sachs

JD HEALTH

GS Hldg R

JD HEALTH-R

ALI HEALTH  Falls 3% Below HKD4 to Over 1-Year Low; G Sachs Cuts TP to HKD4.2

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Brokers have provided updated ratings and target prices for ALI HEALTH. Citi maintains a 'Buy' rating with a target price of HKD8, citing conservative profit guidance due to reinvestments. BofA Securities also rates it 'Buy' at HKD6, highlighting unexpected dividends. CLSA's 'Outperform' rating drops to HKD4.7, while HSBC Research holds at HKD4.5, noting slowed revenue growth. UBS rates it 'Sell' with a target of HKD3.6, citing missed revenue targets and reduced profit forecasts.

China Universal 800 Health Care ETF

E Fund CSI 300 Health Care ETF

ChinaAMC SSE Health Care ETF Initiating Fund

Citigroup

Bank of America

TE HEALTHCARE

HSBC HOLDINGS

HSBC

UBS Group AG

CITIGROUP INC 6.250 NON CUM SER II PFD WI

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

HSBC 5xShortSG241213

HSBC Holdings Plc

Summary of Latest Ratings, TP, Views on ALI HEALTH from Brokers

HSBC Research has cut ALI HEALTH's target price from HKD5.5 to HKD4.5 while maintaining a Hold rating. The report highlights a shift towards pharmaceuticals and increased investments, leading to a 19% and 22% reduction in adjusted net profit forecasts for fiscal years 2027 and 2028. The company is expected to start paying dividends in fiscal year 2026, with a yield of about 5%. Revenue forecasts for 2027 to 2029 are RMB38.81 billion, RMB43.29 billion, and RMB48.16 billion.

HSBC Research Cuts ALI HEALTH  TP to HKD4.5, Maintains Hold on Ongoing Investment Phase

CICC has reduced ALI HEALTH's target price to HKD6.5 while maintaining an Outperform rating. The company reported FY2026 revenue of RMB34.26 billion, a 12% YoY increase, and a non-GAAP net profit of RMB2.33 billion, up 19.3% YoY, but below expectations due to higher investment expenses. CICC also lowered its FY2027 non-GAAP net profit forecast by 15% and introduced a FY2028 forecast of RMB2.57 billion.

CICC

CICC Trims ALI HEALTH  TP to HKD6.5, Maintains Outperform Rating

Citi has lowered its target price for ALI HEALTHfrom HKD9 to HKD8, while maintaining a Buy/High Risk rating. The company provided conservative earnings growth guidance for FY2027, focusing on reinvesting profits into innovative drugs. Citi adjusted its revenue and EPS forecasts for FY2027 and FY2028 due to increased sales and R&D costs but remains optimistic about ALI HEALTH's long-term prospects, highlighting its strategic transformation into a fully integrated pharmaceutical operator.

Citi Cuts ALI HEALTH  TP to HKD8, Remains Optimistic Long Term

CLSA has reduced ALI HEALTH'starget price from HKD5.3 to HKD4.7, citing slightly below-expectation revenue for 2H FY2026 and a decline in gross margin due to aggressive pricing on innovative drugs. Despite a projected low teens revenue growth for FY2027, profit forecasts for FY2027-2028 have been cut by 23%. CLSA maintains an Outperform rating, highlighting the growth potential in pharmaceutical sales and a dividend yield of 4-5%.

CLSA Cuts ALI HEALTHTP to HKD4.7; Innovative Drugs Remain Strategic Growth Driver

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JD HEALTH and ALI HEALTH shares fell 3%-5% following concerns over new GLP-1 drug sales regulations in Shanghai. CLSA noted that online sales remain unaffected and the impact of potential restrictions would be manageable, as GLP-1 drugs constitute a low percentage of sales. Nomura echoed this sentiment, stating market reactions were overblown and maintaining a Buy rating on JD HEALTH with a target price of HKD67.

- JD HEALTH and ALI HEALTH experienced stock declines due to market concerns over new regulations requiring paper prescriptions for GLP-1 drugs in Shanghai.  
- Despite these concerns, current regulations still permit online sales of diabetes drugs, and both companies reported no operational changes or regulatory instructions.  
- Analysts believe that even if restrictions expand, the financial impact will be manageable, as GLP-1 drug sales represent a low single-digit percentage of overall sales for both firms.

Nomura Holdings, Inc.

Nomura

ALI HEALTH  and JD HEALTH Drop 3%-5% as CLSA Says Impact from GLP-1 Online Sales Restrictions Limited; Nomura: Market Overreacted

In a report released yesterday, from CICC maintained a Buy rating on Alibaba Health Information Technology, with a price target of HK$6.50.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alibaba Health Information Technology with a HK$5.33 average price target.

Tip Ranks

CICC Remains a Buy on Alibaba Health Information Technology (ALBHF)

Alibaba Health Information Technology Limited reported disappointing earnings, missing EPS expectations by 14% and revenue by 2.6%. Analysts have revised their forecasts, predicting a revenue increase to CN¥39.0b in 2027, reflecting a 14% growth. The consensus price target remains at HK$6.38, despite a wide range of analyst estimates. Concerns arise from reduced EPS estimates, indicating potential business challenges ahead, while revenue growth is expected to align with industry trends.

Simplywall

Earnings Miss: Alibaba Health Information Technology Limited Missed EPS By 14% And Analysts Are Revising Their Forecasts

Qianwen has partnered with the National Medical Products Administration's Information Center to integrate millions of data records on drugs, cosmetics, and medical devices. This collaboration will enhance medication guidance, verify national approval information, and help users avoid counterfeit products. Qianwen will also provide insights on the suitability of various products and devices, while continuously updating its database in line with the Information Center.

Qianwen Partners with National Medical Products Administration Information Center, Integrates Authoritative Drug and Other Data

$XTALPI(02228.HK) Goldman Sachs launched the &#34;China AI Healthcare Index&#34; today, with Pharmaron as the top-weighted stock $ALI HEALTH(00241.HK)$JD HEALTH(06618.HK)$PA GOODDOCTOR(01833.HK)$YIDU TECH(02158.HK)$MircroPort Medbot-B(02252.HK)

PA GOODDOCTOR

Pharmaron

PHARMARON

XTALPI

MSALIHI@EC2702A(29363.HK)

ALI HEALTH Falls 3% Below HKD4 to Over 1-Year Low; G Sachs Cuts TP to HKD4.2

Summary of Latest Ratings, TP, Views on ALI HEALTH from Brokers

HSBC Research Cuts ALI HEALTH TP to HKD4.5, Maintains Hold on Ongoing Investment Phase

CICC Trims ALI HEALTH TP to HKD6.5, Maintains Outperform Rating

Citi Cuts ALI HEALTH TP to HKD8, Remains Optimistic Long Term