Lyon released a research report stating that TIGERMED's (03347) second-quarter revenue declined 0.7% year-on-year to RMB 1.7 billion. New orders in the second quarter and July-August period both maintained double-digit growth, which aligns with the group's full-year order targets. The firm has reduced its revenue forecasts for TIGERMED for this year, next year, and 2027 by 6% across all periods, while earnings forecasts have been cut by 5% to 12%. The target price has been lowered from HK$62.6 to HK$58.9, while maintaining an "Outperform" rating.