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Alibaba Health Information Technology Ltd 00241

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Stock XHKG Rating as of
HK$2.82 −0.05 (1.57%)
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As of Delayed Price Open

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Alibaba Health Expected To See Medium-Term Growth Slowing Due to Weakness in Health Product Sales

Kai Wang

We expect narrow-moat Alibaba Health, or AliHealth, to benefit from low saturation in healthcare e-commerce. The business is still in the early phase, where it is focused on mass user adoption and should see robust growth in the near term, and is now set to integrate the advertising business into its platform to add another incremental revenue stream. It also plans to add cloud-based artificial intelligence to develop the platform into a one-stop shop for healthcare products, services, and a digital hospital for its users.

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Price vs Fair Value

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00241 is trading at a LOCK|Sf>jX premium.
Price
HK$2.87
Fair Value
N
Uncertainty
LOCK|DG lh%WG
1-Star Price
K
5-Star Price
kQ
Economic Moat
LOCK|T>RqD
Capital Allocation
LOCK|sNN%@C

Bulls Say, Bears Say

Bulls

Healthcare spending looks set to increase to 10% of total expenditure in by 2025, which could lead to increased purchases.

Bears

There are still concerns from consumers over safety, and using products from healthcare e-commerce platforms is still viewed as a risk.

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Trading Information

Previous Close Price
HK$2.87
Day Range
HK$2.80–2.85
52-Week Range
HK$2.75–7.91
Bid/Ask
HK$2.82 / HK$2.83
Shares Outstanding
16.18B
Market Cap
HK$45.61B
Volume/Avg
16M / 92M

Key Statistics

Price/Earnings (Normalized)
20.96
Price/Sales
1.23
Dividend Yield (Trailing)
2.40%
Dividend Yield (Forward)
2.40%
Dividend Payment Schedule
Sep
Total Yield
2.40%

Company Profile

Alibaba Health is one of China's leading e-commerce platforms specializing in healthcare-related products, including prescription drugs, over-the-counter drugs, traditional Chinese medicine, health foods, and so on. The company operates both a third-party B2C service, or 3P, and its own direct-to-consumer business, or 1P, with its own inventory, which can both be accessed by Alibaba’s Tmall app and Alipay. The company also provides online consultation services in a separate app, although its e-commerce businesses remain its core competency in the long term. E-commerce accounted for 93% of revenue in fiscal year 2022. We estimate that AliHealth holds about 45% of market share in the industry in terms of gross merchandise value. AliHealth is 63.74% owned by its parent company, Alibaba Group.
Sector
Healthcare
Industry
Pharmaceutical Retailers
Stock Style Box
Mid Core
Total Number of Employees
1,429
Website
https://www.alihealth.cn

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Valuation

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Metric
00241
01833
06618
Price/Earnings (Normalized)
 20.9629.5815.53
Price/Book Value
 2.371.161.62
Price/Sales
 1.232.221.31
Price/Cash Flow
 19.8329.3712.33
Price/Earnings
00241
01833
06618

Financial Strength

Metric
00241
01833
06618
Quick Ratio
 2.482.582.32
Current Ratio
 3.033.062.69
Interest Coverage
 1,292.58—387.13
Quick Ratio
00241
01833
06618

Profitability

Metric
00241
01833
06618
Return on Assets (Normalized)
 10.33%3.64%8.40%
Return on Equity (Normalized)
 13.99%4.97%11.42%
Return on Invested Capital (Normalized)
 11.11%3.94%9.43%
Return on Assets
00241
01833
06618

Pharmaceutical Retailers Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
JD Health International Inc
JDHIF
—LOCK|<th$R$15B
 JD Health International Inc ADR
JDHIY
—LOCK|j&nMk$15B
 Raia Drogasil SA ADR
RADLY
—LOCK|%S<N$6B
 MatsukiyoCocokara & Co
MSMKF
—LOCK|N#J$6B
 Alibaba Health Information Technology Ltd ADR
ALBBY
—LOCK|%#<rp$6B
 Alibaba Health Information Technology Ltd
ALBHF
—LOCK|@Tp%p$6B
 COSMOS Pharmaceutical Corp
CSMYF
—LOCK|m<N$3B
 Clicks Group Ltd ADR
CLCGY
—LOCK|$s?H$$3B
 Clicks Group Ltd
CCKRF
—LOCK|!<N?$3B
 Sugi Holdings Co Ltd
SGIPF
—LOCK|%@$3B

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