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Market NewsBank of America Securities lowers the target price of safe good Doctor (01833.HK) to 13 yuan, lowering its income forecast.
Market NewsBank of America Securities lowers the target price of safe good Doctor (01833.HK) to 13 yuan, lowering its income forecast.Bank of America Securities lowers the target price of safe good Doctor (01833.HK) to 13 yuan, lowering its income forecast.
阿思達克 02-26 10:19
Bank of America Securities issued a report that Ping An Good Doctor (01833.HK) will release its results on March 19. The bank expects operating revenue of Rmb4.6bn last year, down 25 per cent year-on-year, and an adjusted net loss of Rmb400m.
The bank pointed out that the company has been actively adjusting its business for many years, transforming to a new development model of "managed medical care + family doctor membership +O2O medical services", and basically completing the elimination of low-strategic businesses by June last year. Losing revenue from low-strategic businesses, the bank cut its revenue forecast for the second half of last year to Rmb2.4bn from Rmb3.7bn, down 28 per cent year-on-year but up 8 per cent quarter-on-quarter, and lowered its revenue forecast for this year to Rmb5.3bn, up 14 per cent year-on-year.
According to the report, as of June 30, 2023, Ping An Good Doctor had a net cash flow of RMB 8 billion, reaffirming its rating of "underperforming the market" because its profitability is weaker than that of its mainland online medical peers. The target price dropped from $15 to $13.
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