Glonghui December 1 | According to a report published by Macquarie, Alibaba Health was driven by progress in better cost optimization, and its adjusted net profit from the end of September surpassed market expectations by 53%. The bank raised the company's target price by 2% from HK$4.6 to HK$4.7, maintaining a “neutral” rating. At the same time, Macquarie raised the company's adjusted net profit forecasts for the 2024-2025 fiscal year by 22% and 36% to $1,193 billion and $1.61 billion, respectively, to reflect better profitability. Also, the company announced that it will acquire Alibaba's advertising portion from parent company Alibaba, which should help revenue and profit, but internal adjustments may offset short-term growth.