Daiwa has released a research report indicating an upward revision of TIGERMED's (03347) revenue forecast for 2026 to 2027 by 1% to 7%. However, the earnings per share forecast for the same period was lowered by 8% to 12%, attributed to reduced gross margins and increased sales, administrative, and research and development expenses. The firm maintained a "Hold" rating on the stock but raised the target price from HK$38 to HK$45. TIGERMED issued a positive profit alert, anticipating 2025 revenue to grow between 1% and 16% year-over-year, reaching RMB 6.66 billion to RMB 7.68 billion, marking a return to growth after an 11% decline in 2024. Net profit is expected to surge by 105% to 204% year-over-year, reaching RMB 830 million to RMB 1.23 billion. In contrast, recurring net profit is projected to fall by 43% to 61% year-over-year to between RMB 330 million and RMB 490 million, primarily due to order cancellations, lower average order values, and increased operational costs associated with team expansion. Looking ahead to 2026, the brokerage estimates the company's revenue will increase by approximately 16% year-over-year to around RMB 8 billion, with net profit growing by 14%. The net profit margin is expected to narrow by 1 percentage point year-over-year to 15%.