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<Research Report>G Sachs Cuts ALI HEALTH (00241.HK) TP to $6.4, Rating Neutral
Goldman Sachs lowered the target price for ALI HEALTH (00241.HK) from $6.7 to $6.4 and maintained its Neutral rating in a research report.

Goldman noted that ALI HEALTH's revenue for FY2023 ended March grew 30% YoY to RMB26.8 billion, broadly in line with expectations, and turned around to a profit under Hong Kong Financial Reporting Standards (HKFRS) with a net profit of RMB534 million, in line with expectations.

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The broker lowered ALI HEALTH's revenue growth forecast to 17% YoY in FY2024 and maintained net margin forecast at around 2.5%. The latter is expected to gradually expand to about 3.5% in 2026, compared to the original 2026 forecast of 2.9%.
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