Zhi Tong Cai Jing·2026-02-03 02:36Group 1 - The core viewpoint of the article highlights that Tiger Medical (03347) has experienced a stock price increase of over 4%, currently trading at 52.8 HKD, with a transaction volume of 24.2877 million HKD [1] - Tiger Medical recently issued a profit warning, with Goldman Sachs projecting the company's revenue for 2025 to be between 6.66 billion to 7.68 billion RMB, which is higher than both the bank's and market expectations [1] - Goldman Sachs views Tiger Medical as a key beneficiary of structural growth opportunities in China's clinical CRO industry, anticipating a recovery in business development activities and financing environment starting in 2025, which will drive domestic clinical demand [1] Group 2 - Morgan Stanley's report attributes Tiger Medical's strong profit growth to a significant revaluation of the company's assets and a relatively low base in 2024 [1] - Despite challenges such as order cancellations and collection difficulties affecting recurring revenue performance, the company has shown strong growth in new orders [1] - The net new orders, excluding cancellations, are projected to be between 9.5 billion to 10.5 billion RMB, representing a year-on-year growth of 13% to 25% [1]