Daiwa issued a research report saying that the momentum of TIGERMED (03347.HK) +0.440 (+1.269%) Short selling $21.60M; Ratio 31.187% 's new orders and backlog orders remains strong, and it expects the conversion pace of high-value orders to accelerate in 2H25. Management reiterated that the conversion cycle for newly signed orders is six to nine months. Based on guidance for double-digit revenue growth in FY2026, the broker forecasts the company's revenue to reach approximately RMB3.6 billion and RMB4 billion in 1H25 and 2H25, respectively.

However, the broker noted that due to increased investment in artificial intelligence, management lowered its full-year net profit guidance by around RMB100 million (previously between RMB600 million and RMB700 million). In addition, the company currently expects full-year artificial intelligence expenses to reach RMB300 million to RMB400 million, and plans to launch new AI applications in 2H25. Given that adjusted net profit in 1Q only reached RMB120 million, the broker believes the updated earnings guidance is more achievable.

The broker said TIGERMED (03347.HK) +0.440 (+1.269%) Short selling $21.60M; Ratio 31.187% will benefit from a solid order conversion rate and continuously improving order mix. It forecast adjusted non-IFRS EPS for 2026-2028 to grow YoY by 52%, 36% and 31%, respectively. The broker also upgraded the company's rating from Hold to Buy, while slightly lowering the TP from HKD45 to HKD44. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-07 16:25.)