Dahua Jixian released a research report, maintaining the “Buy” rating of Ping An Good Doctor (01833) and assigning a target price of HK$15.
The Zhitong Finance App learned that Dahua Jixian published a research report to maintain the Ping An Good Doctor (01833) “Buy” rating and give a target price of HK$15.
Ping An Good Doctor completed the restructuring of the low-synergy business in 2023, and it is expected that the revenue of the F-side and B-side strategic business will achieve double-digit growth in 2024. Home care services will also create a new driving force for growth. Dahua Jixian expects revenue to grow at a CAGR of 18% in 2023-25 thanks to continuous strategic upgrading efforts.
Dahua Jixian believes that Ping An Good Doctor's fiscal year 2023 results are generally satisfactory. Ping An Good Doctor achieved total revenue of 4.67 billion yuan throughout the fiscal year, and the net loss narrowed sharply by 47.6% year on year to 335 million yuan, exceeding market expectations. The adjusted net loss for the second half of 2023 was less than 66 million yuan, accelerating profit landing.