Morningstar: The sales revenue of Ali Health may have stabilized.

Morningstar analyst Kai Wang reported that Alibaba Health's sales for the current fiscal year may have stabilized. Due to the high comparison base driven by the epidemic in the previous fiscal year, the company's sales have slowed down in the fiscal year ending in March. Morningstar stated that Alibaba Health's competitor, JD Health, had shown positive performance in the six months ending in June. JD Health is a major competitor of Alibaba Health, with similar market shares. Wang believes that Alibaba Health has a competitive advantage. The organization believes that when Alibaba Health announces its next quarter's performance in October, its sales growth forecast will be more optimistic. Morningstar has raised its estimate of Alibaba Health's fair value from HK$4.20 to HK$5.40.