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Alibaba-affiliated online pharmacy and healthcare platform selling medicines and running Tmall's health business.
Alibaba-affiliated online pharmacy and healthcare platform selling medicines and running Tmall's health business.
Most sales come from selling medicines and health products itself through Tmall storefronts at a thin retail margin, while a smaller part is fees and marketing income from brands on Tmall Health. Alibaba Group is the controlling shareholder, and the business relies on its shoppers and delivery network.
In one line: China's CVS/GoodRx hybrid, run inside the Alibaba ecosystem.
Moat: narrow (scale, distribution, network effects). Alibaba traffic and logistics give it scale few standalone online pharmacies match.
Headquarters: Hangzhou, China · Founded: 2000 · Employees: 1,394
Size Ali Health (0241.HK) is a Hong Kong Health Care company (Information Technology Services) with a market value of $6.39B, the 225th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.10 on 6 Nov 2026.
Performance Over six months the shares fell 32.9%, against -8.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 14.0% over the last twelve months (peer median +24.1%); the operating margin is 5.3% (peer median 10.8%).
Valuation It trades at 20.9× forward earnings against a peer median of 13.7× (7th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.3 points above its cost of capital (16.6% WACC).
Next results Next results expected around 1 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$37.7B | HK$37.6B | HK$33.0B | HK$29.5B | HK$30.6B |
| Revenue growth | — | +14% | +12% | -4% | — |
| Gross profit | HK$9.01B | HK$9.02B | HK$8.01B | HK$6.44B | HK$6.52B |
| EBITDA | HK$2.07B | HK$2.07B | HK$1.64B | HK$752M | HK$21.3M |
| Net income | HK$2.12B | HK$2.13B | HK$1.55B | HK$965M | HK$613M |
| Free cash flow | HK$1.73B | HK$1.71B | HK$1.89B | HK$1.42B | HK$439M |
| Capital expenditure | HK$10.00M | HK$9.87M | HK$20.4M | HK$24.9M | HK$6.77M |
| Total debt | n/a | HK$67.8M | HK$38.1M | HK$89.0M | HK$88.9M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ali Health 0241.HK | $6.39B | -33% | +14% | 5% | 20.9× | 23.9% |
| Jd Health 6618.HK | $17.6B | -7% | +26% | 6% | 19.4× | 8.5% |
| Ping An Healthcare and Technology 1833.HK | $1.63B | -47% | +8% | 3% | 40.1× | 15.0% |
| Meituan-w 3690.HK | $63.3B | -5% | +10% | -12% | 303.1× | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0241.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.9% | -10.8% | 3rd highest of 21 |
| 6-month return | -32.9% | -8.6% | 6th lowest of 21 |
| Distance from 52-week high | -60.8% | -29.0% | lowest of 21 |
| Revenue growth (TTM) | +14.0% | +24.1% | 8th lowest of 21 |
| Operating margin | 5.3% | 10.8% | 9th lowest of 21 |
| Forward P/E | 20.9× | 13.7× | 7th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 23.9% | -2.8% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +16.2% | +7.8% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | +7.7 pp | -12.1 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | +3.3 pp | -0.2 pp | 7th highest of 21 |
| EV / EBITDA | 18.5× | 13.7× | 4th most expensive of 9 |
| Net debt / EBITDA | -5.7× | -0.8× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ali Health 0241.HK | Hong Kong | $6.39B | -33% | +14% | 5% | 20.9× | 23.9% | +16.2% |
| Sinopharm 1099.HK | Hong Kong | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% | +4.0% |
| RemeGen 9995.HK | Hong Kong | $6.92B | -31% | +293% | 61% | 7.4× | -4.8% | +57.9% |
| Hangzhou Tigermed Consulting 3347.HK | Hong Kong | $5.65B | -1% | +22% | 10% | 71.8× | 28.3% | +15.6% |
| Asymchem Laboratories (Tianjin) 6821.HK | Hong Kong | $8.19B | +22% | +24% | 17% | 29.2× | n/a | n/a |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 13.7× | n/a | n/a |
| Shanghai Pharmaceuticals 2607.HK | Hong Kong | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% | +7.4% |
| Shanghai Fosun Pharmaceutical (Group) 2196.HK | Hong Kong | $8.69B | -10% | +10% | 6% | 10.4× | 20.5% | +5.8% |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 297.9× | 36.5% | +19.8% |
| Guangzhou Baiyunshan Pharmaceutical 0874.HK | Hong Kong | $4.56B | -23% | +6% | 3% | 7.3× | 0.7% | +4.0% |
| JOINN Laboratories (China) 6127.HK | Hong Kong | $4.43B | +9% | +17% | -4% | 18.6× | n/a | n/a |
| Shanghai Junshi Biosciences 1877.HK | Hong Kong | $4.08B | -39% | +36% | -14% | n/a | n/a | n/a |
| Akeso 9926.HK | Hong Kong | $10.2B | -38% | +42% | -25% | n/a | n/a | n/a |
| China Resources Pharmaceutical 3320.HK | Hong Kong | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% | +7.8% |
| Livzon Pharmaceutical 1513.HK | Hong Kong | $3.69B | -11% | -10% | 19% | 11.3× | -7.7% | +2.0% |
| Simcere Pharmaceutical 2096.HK | Hong Kong | $3.63B | -7% | +27% | 18% | 14.3× | -2.8% | +10.6% |
| Pharmaron Beijing 3759.HK | Hong Kong | $11.3B | +45% | +24% | 14% | 22.9× | n/a | n/a |
| WuXi XDC Cayman 2268.HK | Hong Kong | $11.4B | +23% | +42% | 28% | 39.5× | 22.0% | +126.4% |
| Shanghai Henlius Biotech 2696.HK | Hong Kong | $3.41B | -37% | +33% | 12% | 23.8× | 15.2% | +61.4% |
| XtalPi 2228.HK | Hong Kong | $3.35B | -34% | +4% | -127% | n/a | n/a | n/a |
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% | +0.1% |