GLONGHUY June 29丨Lyon published a report stating that Ali Health (0241.HK) has 300 million annual active users and a total commodity transaction volume (GMV) of 140 billion yuan. It believes that Ali Health's position at the top of the mainland's online medical platforms and its effective business model should help further increase its market share. The bank believes that the market has yet to fully absorb favorable factors relating to mainland regulation, health insurance reimbursement, generation of artificial intelligence, and the restructuring of Alibaba (9988.HK). The bank expects a compound revenue growth rate of 22% for Ali Health over the next three years, and a long-term net profit margin of more than 10%. For the first time, the bank gave Ali Health a target price of HK$6.8 and rated it as a “buy”.