In "The Big Banks," Citigroup lowered the target price for HYGEIA HEALTH to 15.9 yuan, maintaining a "Outperform" rating

Citi published a research report stating that although HYGEIA HEALTH (06078.HK) issued a profit warning, it believes that the decline in performance has basically bottomed out. Among them, revenue in the second half of the year is expected to decrease by 2% year-on-year to approximately RMB 2 billion, while the adjusted net profit under International Financial Reporting Standards is expected to recover to a positive growth of 3%, indicating that profit resilience is improving; the stabilization of adjusted net profit is a positive signal of enhanced operational execution.

Looking ahead to 2026, the bank believes that key growth drivers include expanding revenue from non-national medical insurance catalog, improving the utilization rate of existing hospitals, and reducing the debt ratio to drive operational leverage to rebuild profit margins. The bank maintains a "outperform" rating on HYGEIA HEALTH but lowers the target price from HKD 17 to HKD 15.9