Zhi Tong Cai Jing·2025-08-29 08:43Core Viewpoint - UBS has downgraded the earnings per share estimates for Tigermed (300347) for 2025 to 2027 by 9%, 4.3%, and 0.1% respectively, while raising the target price from HKD 49.1 to HKD 56.3, maintaining a "Buy" rating [1] Financial Performance - Tigermed's revenue for the second quarter decreased by 0.7% year-on-year to RMB 1.69 billion, a smaller decline compared to the first quarter's 5.8% drop, but still below UBS and market expectations [1] - The net profit for the second quarter fell by 15.5% year-on-year to RMB 218 million, an improvement from the first quarter's 29.6% decline, yet also below expectations [1] Future Guidance - The company maintains its full-year guidance, expecting revenue to grow in the high single digits year-on-year, with an anticipated recovery in gross margin on a quarterly basis and improvement in recurring net profit margin [1] - Due to the growth in new orders in the first quarter, the company has raised its full-year revenue forecast to approximately 15%, up from the previous estimate of over 10% [1] Cash Flow and Shareholder Returns - Tigermed expects its net operating cash flow to reach approximately RMB 1 billion this year and plans to enhance shareholder returns through dividends or stock buybacks [1]