Tigermed (03347) dropped more than 4%, down 3.95% as of press time to HK$37.54, with turnover of HK$13.3906 million.
On the news front, Tigermed recently released its results for the first three quarters of 2026, reporting operating revenue of RMB 5.792 billion for the first three quarters, up 15.23% year-on-year; net loss attributable to shareholders was RMB 272 million, turning from profit to loss year-on-year.
Huachuang Securities pointed out that the company's net profit attributable to shareholders for the first three quarters was -RMB 272 million, with Q3 net profit attributable to shareholders down 77.85% year-on-year, diverging from the growth in non-GAAP profit, mainly due to changes in investment-related gains and losses.
Morgan Stanley's research report noted that based on Tigermed's Q3 2026 results, it lowered its earnings forecasts for 2026 to 2030 by 1% to 15% to reflect higher fair value change expenses from investment projects and lower gross margin assumptions, and cut its target price and scenario valuation by 3% to 6%. The bank believes that based on 2027 forecast earnings, Tigermed's current P/E ratio of 43 times has largely reflected the earnings recovery driven by the low base in 2026, and near-term margin pressure is expected to persist.
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