Ping An Good Doctor (01833)'s stock price led 2.64% and became the first in the Citigroup industry to raise the target price to HK$12 per share

The Zhitong Finance App learned that on June 20, the Hang Seng Index, the State-owned Enterprises Index and the Hang Seng Technology Index closed up 1.26%, 1.38% and 0.88% respectively. In terms of Hong Kong Internet healthcare stocks, Ping An Good Doctor (01833) led the three major indices and led the industry by 2.64%. Ali Health (00241) rose 0.23%, and Jingdong Health (06618) rose 0.13%.

In terms of funding, there has been a marked increase in southbound capital inflows to Ping An Good Doctor. On June 18, Nanxiang Capital made a net purchase of 1.7937 million shares of Ping An Good Doctor, with a net purchase amount of HK$145.112 million. As of the same date, Southbound Capital held a total of 378 million shares, with a cumulative market value of HK$2,996 million, with a shareholding ratio of 17.49%. According to the platform's statistics, Dr. Ping An has welcomed net purchases from southbound capital for 5 consecutive days.

Data: snowball

According to the news, on June 10, Ping An Health Medical Technology Co., Ltd. officially announced the brand upgrade to “Ping An Good Doctor” in Shanghai, and simultaneously released the “Family Doctor Active Care, Zero Distance from Famous Doctors, Full Treatment Management” annual medical and health service business card, which is committed to providing users with “worry-free, time-saving, and money-saving” medical and health services. At the same time, Dr. Ping An Hao launched a full-scene, full-cycle, and full-ecosystem “7+N+1” AI medical product matrix for the first time. Among them, N is an upgrade of the “man+machine” AI agent enabling products, and 7 is the “machine+human” all-native evolved AI medical product launched this time, and 1 refers to the “medical” platform empowered by the industry.

The AI medical products released during this brand renewal attracted enthusiastic attention in the market. According to Citigroup Research, Ping An Good Doctor successfully demonstrated the deep integration and implementation of its self-developed AI domain model with medical service scenarios. The company focuses on improving the user experience and providing more comprehensive and high-quality services for different user groups and diverse scenarios through empowering AI products such as “Director An” and “Ping An Xinyi”. Independent AI research and financial performance are verifying its firm business strategy.

With the strong support of Ping An Group, its own unique platform advantages, and deep AI technology barriers, Citi is optimistic that Ping An Good Doctor will play a key potential in China's healthcare system reform, and reaffirms that it is one of the leading companies in the industry, giving a target price of HK$12. This is an increase of 67.8% compared to HK$7.15 in the April 23 research report.

At the service implementation level, Ping An Good Doctor announced an important cooperation with Meituan on June 18. The two sides will focus on the two core scenarios of upgrading health services for commercial insurance users and benefiting the public, and jointly create a one-stop health service experience of “online consultation, prescription issuance, direct commercial insurance payment, and door-to-door drug delivery” for users. The cooperation plans to cover O2O services in more than 100 cities across the country by the end of 2025 to promote the digital and inclusive development of the healthcare industry.