HK Stock Market Move | Hangzhou Tigermed Consulting (03347) falls over 4%; Q3 net profit attributable to shareholders down 77.85% year-on-year; Morgan Stanley expects the company's near-term margin pressure to persist.

Hangzhou Tigermed Consulting (03347) fell over 4%, down 3.95% as of press time to HK$37.54, with turnover of HK$13.3906 million. On the news front, Hangzhou Tigermed Consulting recently released its results for the first three quarters of 2026. The group recorded operating revenue of RMB5.792 billion for the first three quarters, up 15.23% year-on-year; net loss attributable to shareholders was RMB272 million, swinging from profit to loss year-on-year. Huachuang Securities noted that the company's net profit attributable to shareholders for the first three quarters was -RMB272 million, with Q3 net profit attributable to shareholders down 77.85% year-on-year, diverging from the growth in non-recurring profit, mainly due to changes in investment-related gains and losses. A Morgan Stanley research report noted that based on Hangzhou Tigermed Consulting's Q3 2026 results, it lowered its 2026-2030 earnings forecasts by 1% to 15% to reflect higher fair value change expenses from investment projects and lower gross margin assumptions, and cut its target price and scenario valuations by 3% to 6%. The bank believes that, based on 2027 forecast earnings, Hangzhou Tigermed Consulting's current price-to-earnings ratio of 43x has largely reflected the earnings recovery from a low base in 2026, while near-term margin pressure is expected to persist.