Core Viewpoint - The report from CICC indicates that Haijia Medical (06078) experienced a significant decline in sales and profits in the first half of the year, primarily due to factors such as centralized drug procurement, the implementation of DRGs, and macroeconomic uncertainties [1] Financial Performance - Haijia Medical's sales decreased by 16% year-on-year [1] - Operating profit fell by 42% [1] - Net profit declined by 36% [1] - Adjusted net profit dropped by 34%, aligning with previous forecasts [1] Future Projections - CICC has revised its revenue forecasts for 2025 to 2027 down by 18% to 26% [1] - Net profit forecasts have been reduced by 19% to 27% [1] - The target price for Haijia Medical has been slightly lowered from HKD 17.3 to HKD 17 [1] - The rating remains "Outperform" [1] Key Focus Areas - The current priority is to improve profit margins driven by increased hospital utilization [1]
里昂：微降海吉亚医疗目标价至17港元 维持“跑赢大市”评级