Market News

UBS issued a rating report that downgraded the revenue forecast of Ping an good Doctor (01833.HK) in 2023-25, reflecting that the company may complete non-core business adjustments in the near future. The bank said its revenue bottomed out in the first half of this year and is expected to continue to grow every quarter, benefiting from the business strategy of integrated financial business users (F-side) and enterprise customers (B-side). The bank said that with the transformation of the company's strategy, the company is expected to be less vulnerable to factors such as a macroeconomic slowdown and tighter regulation in the near future. With the company's further penetration into Ping an Group's high-value customer base, revenue is expected to return to a low ten-figure income next year, and gross profit margin will rise slightly to break even in 2024-25. The bank lowered its target price for safe and good doctors from 23 yuan to 20 yuan, maintaining its "neutral" rating. (ca/u) ~