智通财经网·2026-01-30 07:45Group 1 - The core viewpoint of the article is that Morgan Stanley has released a report indicating that Tigermed (03347) has announced preliminary performance for 2025, with revenue expected to be between 6.66 billion and 7.68 billion RMB, representing a year-on-year growth of 1% to 16%, which is lower than Morgan Stanley's estimates by 2% to 12% [1] - The net profit is projected to be between 830 million and 1.23 billion RMB, showing a significant year-on-year increase of 105% to 204% [1] - Morgan Stanley attributes the strong profit growth to a substantial revaluation of Tigermed's assets and a relatively low base in 2024 [1] Group 2 - Despite challenges such as order cancellations and difficulties in collections, the company's recurring revenue performance has been weak, but new order growth remains strong [1] - The net new orders, after excluding cancellations, are expected to be between 9.5 billion and 10.5 billion RMB, reflecting a year-on-year growth of 13% to 25% [1] - The management of the group remains optimistic about the industry outlook, noting in a recent meeting that the Chinese CRO industry appears to be in a recovery phase [1]