Quam Securities

Since its inception in 1986, Quam Securities Limited (Quam Securities) has grown to become one of the few mid-tier securities brokerages in Hong Kong with global execution capabilities for both private and institutional clients. It boasts a well-established network in Greater China including Taiwan and in major world markets through the Global Alliance Partners (GAP). Quam Securities is well-positioned not only to harness and drive business within the China Tonghai International Financial Limited but also between China and the world markets.

Research from Quam Securities

Research from Quam Securities, Quam Securities

Quam Securities Research

Equity Bottom-Up

Alibaba Health Information Tec / Equity Bottom-Up

<ul><li>Ali Health would apply more flexibility to the business structure, and we expect this change would positively impact the company's GPM.</li><li>In 2023, we also expect Ali Health to be more aggressive in cooperation with pharmaceuticals to boost its chronic disease management business.</li><li>While we expect the company's adj. profit to continue to improve, we have lowered our TP to HK$5.65 on the lowered valuation of the industry. </li></ul>

Ali Health would apply more flexibility to the business structure, and we expect this change would positively impact the company's GPM.In 2023, we also expect Ali Health to be more aggressive in cooperation with pharmaceuticals to boost its chronic disease management business.While we expect the company's adj. profit to continue to improve, we have lowered our TP to HK$5.65 on the lowered valuation of the industry. 

Ali Health - Business Structure Adjustments Would Improve the Revenue Structure