Zhi Tong Cai Jing·2025-11-28 07:45Core Viewpoint - CICC maintains "outperform" rating for Alibaba Health (00241) and raises target price by 30% to HKD 7.1 based on recent valuation uplift in the sector [1] Financial Performance - For the first half of the fiscal year ending September 2026, Alibaba Health reported revenue of RMB 16.697 billion, a year-on-year increase of 17% [1] - Non-GAAP net profit reached RMB 1.356 billion, reflecting a year-on-year growth of 38.7%, with a profit margin of 8.1% [1] Future Projections - CICC has increased its non-GAAP net profit forecasts for Alibaba Health for fiscal years 2026 and 2027 by 16% each, projecting RMB 2.48 billion and RMB 2.75 billion respectively [1] - The company is expected to strengthen upstream strategic partnerships, which will contribute to business growth beyond product sales [1]