Zhi Tong Cai Jing·2025-09-01 10:06Core Viewpoint - UBS maintains a "Buy" rating for Tigermed (03347) and raises the target price from HKD 49.1 to HKD 56.3 [1] Financial Performance - Tigermed's Q2 revenue decreased by 0.7% year-on-year, a slight improvement from a 5.8% decline in Q1, with a quarter-on-quarter growth of 7.8% to RMB 1.69 billion, which is below market expectations of RMB 1.78 billion and UBS's estimate of RMB 1.85 billion [1] - Net profit fell by 15.5% year-on-year, improving from a 29.6% decline in Q1, totaling RMB 218 million, significantly lower than market forecasts of RMB 309 million and UBS's estimate of RMB 318 million, primarily due to declines in revenue and profit margins [1] Earnings Forecast Adjustment - Due to underperformance in the first half of 2025, UBS has revised down its revenue and profit margin forecasts for Tigermed for the years 2025-2027, with earnings per share estimates reduced by 9.0%, 4.3%, and 0.1% respectively [1]