The research report "Big Banks" raised the target price of Tigermed to 64.6 yuan, with last year's revenue and new orders exceeding expectations

HSBC's research report indicates that Tigermed (03347.HK) announced its revenue and recurring net profit forecasts for last year; based on the midpoint, it represents a year-on-year increase of 8.6% and a year-on-year decrease of 52%, respectively. The new order amount is estimated to be between 9.5 billion and 10.5 billion RMB, which translates to a year-on-year growth of 18.7% based on the midpoint. During the period, revenue and new orders exceeded the bank's expectations by 7% and 3%, respectively, while recurring net profit was 10% lower than expected.

The bank has raised its revenue forecast for 2026 to 2027 by 7%, but lowered the recurring net profit forecast for the same period by 1% to 3%; it maintains a "Buy" rating, raising the target price for Tigermed's H shares from HKD 59 to HKD 64.6, and the target price for Tigermed's A shares (300347.SZ) from RMB 78.5 to RMB 86, expecting the company's business recovery trend to continue, with robust new orders and average service prices supporting margin improvement