FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 阿里健康信息技術有限公司 (於百慕達註冊成立之有限公司) 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00241 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.01 HKD | | | 200,000,000 | | 增加 / 減少 (-) | | | | 0 | | HKD | | | 0 | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.01 ...

Group 1 - The core point of the article highlights the recent reduction in holdings of Alibaba Health (00241.HK) by southbound funds, with a total net reduction of 15.94 million shares over the last five trading days and 35.13 million shares over the last 20 trading days [1][2] - As of now, southbound funds hold 1.736 billion shares of Alibaba Health, accounting for 10.76% of the company's total issued ordinary shares [1][2] - The daily changes in shareholdings show a consistent trend of reduction, with the most recent decrease being 316,000 shares on October 27, 2025, representing a change of -0.02% [2] Group 2 - Alibaba Health Information Technology Co., Ltd. is a holding company providing industrial internet solutions for the healthcare and pharmaceutical industry, serving as Alibaba's flagship platform in the health sector [2] - The company primarily engages in the sales of pharmaceutical health products, operates e-commerce platforms for pharmaceuticals, and offers consumer healthcare services, leveraging technologies such as cloud computing and big data [2]

Core Viewpoint - The collaboration between the United Nations Population Fund and Alibaba Health aims to promote women's health through the initiative "Guard Her Health, Please Be Assured at This Moment" [1] Group 1: Initiative Overview - The initiative focuses on women's health as a core social development issue, emphasizing a comprehensive approach through service support, safety net construction, and educational reform [1] - Alibaba Health plans to leverage its platform responsibility to transform the initiative into tangible moments of assurance for women, promoting equality and health as fundamental aspects of women's lives [1] Group 2: Stakeholder Perspectives - The project director of the Love Xiaoya Fund highlights the need for societal attention to women's health, particularly in guiding adolescent girls on health knowledge and gender equality [1] - The marketing head of Tmall Health emphasizes the importance of ensuring every woman has access to safe and quality health products and services, focusing on comprehensive health development for women across all life stages [1] Group 3: Collaborative Goals - The initiative calls for a collective focus on women's health throughout their life cycle, advocating for public-private partnerships that combine the public sector's equity mission with the private sector's innovation and adaptability [1]

Group 1 - The United Nations Population Fund and Alibaba Health launched the "Guard Her Health, Please Be Assured at This Moment" initiative to promote women's health, coinciding with the 30th anniversary of the Fourth World Conference on Women held in Beijing [1][3] - The initiative emphasizes the importance of women's health for their full participation in social life, which in turn strengthens families, drives the economy, and shapes a more equal and prosperous future [1][3] - The National Health Commission of China highlighted significant achievements in women's health, including the inclusion of maternal transmission prevention of diseases like AIDS, syphilis, and hepatitis B in major public health service projects [3] Group 2 - From 2009 to 2024, China conducted free cervical cancer screenings for 342 million people and breast cancer screenings for 245 million people, with a central government investment of 3.01 billion yuan to assist women with health issues [3] - By June 2025, 18 provinces will provide free HPV vaccinations to approximately 5 million eligible girls annually, as part of government initiatives [3] - There is a growing awareness among mothers regarding their health, with an increase in online searches for health products related to postpartum recovery [3][4] Group 3 - The initiative calls for a focus on women's health throughout their life cycle and encourages public-private partnerships to combine the public sector's commitment to equity with the private sector's innovation and adaptability [4]

智通财经APP获悉，美银证券发布研报称，预期阿里健康(00241)明年3月底止现财年业绩将超越市场共 识。该行上调公司现财年收入增长预测4个百分点至14%，经调整净利润增长预测上调10个百分点至 30%。该行上调阿里健康现财年及下财年经调整净利润预测8%，2024财年至2031财年预期自由现金流 年复合年增长率由42%上调至45%。对阿里健康目标价从5.5港元上调至6.56港元，重申"买入"评级。 该行指，阿里健康超预期业绩增长关键驱动因素包括618销售表现良好，母公司阿里巴巴-W(09988)在快 电商的投资加速淘宝天猫的流量并惠及阿里健康，包括年轻用户群流量增加、B2C电商交叉销售及更多 商家的广告支出。该行亦指，药品销售线上渗透率增加、商家及药品品牌广告支出上升并提振阿里健康 利润率，亦为业绩增长驱动因素。 ...

Core Viewpoint - Bank of America Securities expects Alibaba Health (00241) to exceed market consensus for the fiscal year ending March 2024, with significant upward revisions to revenue and profit forecasts [1] Financial Performance - Revenue growth forecast for the current fiscal year has been increased by 4 percentage points to 14% [1] - Adjusted net profit growth forecast has been raised by 10 percentage points to 30% [1] - Adjusted net profit predictions for the current and next fiscal years have been increased by 8% [1] - Projected compound annual growth rate (CAGR) for free cash flow from fiscal year 2024 to 2031 has been revised from 42% to 45% [1] Target Price and Rating - Target price for Alibaba Health has been raised from HKD 5.5 to HKD 6.56 [1] - The rating remains "Buy" [1] Growth Drivers - Key drivers for the better-than-expected performance include strong sales during the 618 shopping festival [1] - Increased investment from parent company Alibaba Group (09988) in fast e-commerce has enhanced traffic to Taobao and Tmall, benefiting Alibaba Health [1] - Growth in younger user traffic, B2C e-commerce cross-selling, and increased advertising spending from more merchants have contributed to performance [1] - Rising online penetration of pharmaceutical sales and increased advertising spending from merchants and pharmaceutical brands have also boosted Alibaba Health's profit margins [1]

Core Viewpoint - Bank of America Securities expects Alibaba Health's performance for the fiscal year ending March 2024 to exceed market consensus, leading to upward revisions in revenue and profit forecasts [1] Revenue and Profit Forecasts - The company raised its revenue growth forecast for the current fiscal year by 4 percentage points to 14% [1] - Adjusted net profit growth forecast was increased by 10 percentage points to 30% [1] - Adjusted net profit predictions for the current and next fiscal years were raised by 8% [1] Cash Flow Projections - The expected compound annual growth rate (CAGR) for free cash flow from fiscal year 2024 to 2031 was increased from 42% to 45% [1] Target Price and Rating - The target price for Alibaba Health was raised from HKD 5.5 to HKD 6.56, maintaining a "Buy" rating [1] Key Growth Drivers - Key drivers for Alibaba Health's better-than-expected performance include strong sales during the 618 shopping festival [1] - Investments by the parent company Alibaba in fast e-commerce are accelerating traffic to Taobao and Tmall, benefiting Alibaba Health through increased young user traffic, B2C e-commerce cross-selling, and higher advertising spending from more merchants [1] - Increased online penetration of drug sales and rising advertising expenditures from merchants and drug brands are also contributing to Alibaba Health's profit margin and overall performance growth [1]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 阿里健康信息技術有限公司 (於百慕達註冊成立之有限公司) 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00241 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 16,123,953,865 | | 0 | | 16,123,953,865 | | 增加 / 減少 (-) | | | 718,125 | | | | | | 本月底結存 | | | 16,124,671,990 | | 0 | | 16,124,671,990 | 第 2 頁 共 11 頁 v 1.1 ...

Core Insights - Xinda Biopharmaceutical Group's product, Masitide Injection, has received approval for a new indication for blood sugar control in adult patients with type 2 diabetes [1] - The drug has become one of the fastest-growing GLP-1 products since its launch on Alibaba Health in July [1] - Masitide is the world's first approved GCG/GLP-1 dual receptor agonist for type 2 diabetes, addressing key pathogenic mechanisms and providing additional benefits such as weight loss and improvements in cardiovascular, liver enzyme, and kidney metabolism [1] Company Developments - The newly approved Masitide injection pen features significant improvements in convenience and safety, including a hidden needle design to reduce injection anxiety and a single-use mechanism to prevent cross-contamination [1] - The injection pen utilizes innovative X-section technology for a smoother, painless injection experience, enhancing patient comfort and compliance [1] Industry Trends - Alibaba Health leverages its digital ecosystem to provide comprehensive services for new specialty drugs, including market launch, patient education, online consultations, and drug delivery [2] - The company offers customized temperature-controlled logistics solutions for GLP-1 products requiring 2-8°C cold chain distribution, ensuring compliance and safety in drug storage and delivery [2] - Alibaba Health aims to continue its role as a launch platform for innovative drugs, utilizing data technology and ecosystem resources to enhance drug accessibility [2]

该行相信与淘宝快电商的协同效应仍是9月底止现财年上半年重点，具体而言包括用户及订单量增长， 潜在投资规模及形式，补贴正常化后用户流失。该行上调对阿里健康现财年及下财年收入预测各4%， 反映与淘宝快电商在用户流量及整体总交易额协同效应，并上调现财年及下财年经调整每股盈利预测分 别3%及4%，反映淘宝对快电商高补贴带来的市场推广节省，部分被业务协作造成的投资抵销。 摩根大通发布研报称，阿里健康(00241)股价在5月公布2025财年业绩后累涨约27%，超越同业8个百分 点。该行认为主要因为投资者对最近处方药在线零售销售政策更新的正面反应，目标价由5港元上调至 6.5港元，相当于预测现财年市销率2.5倍，维持"中性"评级。鉴于这基本上是一项指引，与现有政策没 有实质差异，认为其影响更多体现在情绪层面。 ...