Sou Hu Cai Jing·2025-12-02 10:02Core Viewpoint - Goldman Sachs maintains a "Neutral" rating on Alibaba Health (00241.HK) following the release of its mid-term results for the fiscal year ending September 2026, citing structural benefits from the outflow of original prescription drugs from hospital channels and accelerated online drug penetration [1] Financial Performance - Alibaba Health's revenue forecast for fiscal years 2026 to 2028 has been slightly adjusted to a growth of 2% to 4%, with corresponding adjustments to the adjusted net profit forecast also increased by 2% to 4% [1] - The target price has been raised from HKD 4.7 to HKD 5.2 based on a projected 28 times price-to-earnings ratio for its pharmacy and medical services business in 2027 [1] Market Position - As of December 2, 2025, Alibaba Health's stock closed at HKD 5.45, down 1.09%, with a trading volume of 77.95 million shares and a turnover of HKD 425 million [1] - The market capitalization of Alibaba Health is HKD 89.123 billion, ranking second in the medical services sector [2] Institutional Ratings - Recent ratings from various investment banks include: - Huatai Securities: Buy rating with a target price of HKD 6.08 [1] - Guosen Securities: Outperform rating [1] - CICC: Outperform rating with a target price of HKD 7.10 [1] - CITIC Securities: Awaiting rating with a target price of HKD 9.60 [1] Key Financial Metrics - Return on Equity (ROE): 8.22%, significantly higher than the industry average of 0.02% [2] - Revenue: HKD 28.344 billion, ranking third in the industry [2] - Net Profit Margin: 5.39%, compared to an industry average of -843.36% [2] - Debt Ratio: 24.76%, much lower than the industry average of 74.15% [2]