Ali Health's financial performance for the fiscal year ending March 2026 fell within its guidance range, slightly missing market expectations, indicating a growth deceleration in the second half of the fiscal year. During the period, the group's total revenue rose 12% year-over-year to RMB 34.3 billion, below the market consensus of RMB 35.1 billion. Adjusted net profit increased 19% year-over-year to RMB 2.33 billion, also slightly below the market expectation of RMB 2.36 billion. However, the decision to distribute a special dividend was viewed as a positive surprise. BofA Securities expressed encouragement at Ali Health's move to enhance shareholder returns, maintaining a "Buy" rating with a target price of HK$6. The report noted that Ali Health's total revenue growth in the second half of the fiscal year slowed to 8% year-over-year, compared to 17% growth in the first half. Adjusted net profit for the latter half was flat year-over-year, contrasting with a 39% increase in the first half. BofA Securities believes the slowdown in the second half was primarily attributable to the medical devices category, while the pharmaceutical category continued to grow rapidly. The company announced a total dividend distribution of RMB 3.14 billion, including ordinary and special dividends, representing a dividend yield of nearly 5%.