J.P. Morgan's research report stated that in the first half of fiscal year 2025, ali health's sales are expected to grow by 10.2% to 14.3 billion yuan, lower than the bank's expectation of 15.2 billion yuan. This is mainly due to the shift in product focus during the period from pharmaceuticals to medical equipment and health products, which also drives the increase in operating profit margins, unlocking the potential for platform business growth. Through ali health's exclusive marketing review rights for the medical and health category of Ali Mama, J.P. Morgan believes that it can deepen its relationship with merchants. When the company shifts its focus to non-pharmaceutical products, it can grow more rapidly. It is currently forecasted that the e-commerce platform business can maintain a year-on-year growth of over 40% in the next half of the fiscal year. Consequently, the bank has also raised ali health's earnings per share forecast for fiscal years 2025 to 2027 by 9.2%, raising the target price from HK$4.4 to HK$4.8 and giving it an "outperform" rating.