Gelonghui, March 1 | Credit Suisse issued a report stating that China Resources Healthcare (1515.HK) had earlier completed the acquisition of shares in Liaoning China Resources Health and Jiang Nengbiao by its parent company. Based on the business update conference call held by management, the bank estimates that the two transactions were completed at a price-earnings ratio of about 14 times last year, which is believed to be beneficial to the company. Furthermore, management mentioned that the total number of patients treated and operated in January this year both exceeded the same period last year, but it will still take time for the income mix to return to normal levels. Credit Suisse lowered China Resources Medical's net profit forecast for last year by 64%, reflecting the company's latest profit warning. This year and next two years will increase 25% and 55% respectively due to the completion of the acquisition. At the same time, the target price of its shares was raised from HK$6 to HK$6.8, maintaining a “neutral” rating. The share is currently reported at HK$673, with a total market value of HK$8.7 billion.