Core Viewpoint - Citigroup's research report indicates that Alibaba Health's mid-term revenue increased by 17% year-on-year, with net profit reaching 1.266 billion yuan, exceeding expectations by 4% and 13% respectively [1] Financial Performance - Adjusted net profit rose by 38.7% year-on-year [1] - Gross margin improved by 30 basis points to 25.1% [1] Future Guidance - Alibaba Health raised its full-year revenue growth guidance for fiscal year 2026 to 10% to 15% [1] - Adjusted net profit growth guidance was also increased to 20% to 30% [1] Market Expectations - Given the strong adjusted net profit growth, the market is expected to focus on whether the management will further raise performance guidance [1] - Citigroup maintains a "Buy (High Risk)" rating with a target price of 8.5 HKD [1]