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<Research>HSBC Research: Online Pharmacy Mkt Shr Continues to Expand; JD HEALTH TP Lifted to $77.5
Recommend 8 Positive 9 Negative 6 |
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JD HEALTH (06618.HK) and ALI HEALTH (00241.HK) achieved strong revenue growth last year, with pharmaceutical sales increasing by 20-30%, significantly outperforming the national market's overall growth of only 2%, HSBC Global Research issued a research report saying. This reflects the continuous market share gain by online platforms from hospital channels. The report suggested that the rebound in growth of some offline channels at the end of 2025 was mainly due to the consolidation of underperforming outlets, which should not be overly concerning, as the number of physical pharmacies decreased by 16,000 in 1-3Q25. Therefore, the broker kept ratings at Buy/ Hold for JD HEALTH/ ALI HEALTH, and lifted its target prices from $75.5/ $6 to $77.5/ $6.5, representing a potential upside of approx. 6.5%. HSBC Global Research noted that ALI HEALTH's current valuation has largely reflected recent AI developments, with limited upside room. AASTOCKS Financial News Website: www.aastocks.com |
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