Ge Long Hui A P P·2025-11-28 08:31Core Viewpoint - Alibaba Health's performance for the first half of the fiscal year 2026 exceeded expectations, driven by strong sales in original prescription drugs [1] Financial Performance - Revenue reached 16.697 billion yuan, representing a year-on-year growth of 17% [1] - Non-GAAP net profit was 1.356 billion yuan, with a year-on-year increase of 38.7%, resulting in a profit margin of 8.1% [1] Strategic Outlook - The company is expected to strengthen strategic partnerships with upstream enterprises, which will enhance contributions beyond product sales [1] - Due to the company's consistent profit generation, the forecast for non-GAAP net profit for fiscal years 2026 and 2027 has been raised by 16% to 2.48 billion yuan and 2.75 billion yuan, respectively [1] Valuation Adjustment - Following recent improvements in sector valuations, the target price has been increased by 30% to 7.1 HKD, while maintaining an "outperform" rating [1]