Credit Suisse: lowered the target price of Alibaba Health Information Technology (00241.HK) to HK $11 and outperformed the big market Credit Suisse published a research report, pointing out that Alibaba Health Information Technology (00241.HK) lost less than the bank expected in the first half, but the bank has a conservative view on gross profit margin and income outlook. Based on the fact that sales of prescription drugs with low profit margins are expected to continue to rise, the overall slowdown in e-commerce may not be easy to recover. However, drug sales continue to drive the growth of pharmaceutical direct selling business and platform business. The bank pointed out that the company continues to explore new businesses, such as self-owned drugstores, personalized insurance and so on. In addition, management does not expect to launch an online prescription drug sales policy this year, but it is expected to affect revenue growth by several percentage points. The bank maintained Alibaba Health Information Technology's outperformance rating, downgraded its loss forecast for 2022 / 23 by 37 per cent and 8 per cent, changed its net profit forecast to a loss forecast in 2024, and lowered its target price from HK $15 to HK $11, reflecting the decline in expected income and gross profit.