Shares of Ping An Good Doctor Jumped Nearly 50% after the Results, with Banks Maintaining a "Buy" Rating

SHANGHAI, Aug. 23, 2019 /PRNewswire/ -- The world largest online healthcare platform, Ping An Good Doctor (01833.HK), has seen its share price rise sharply recently, closing at HK $48.35 on 23 August, up 6.73%. The company's share price has soared by 48.7% since they announced the 1H2019 earning results on 6 August, demonstrating that the market is confident about its prospects.

On August 13, 2019, Ping An Good Doctor officially launched the membership product "Private Doctor" for attracting more paying users, by providing one-on-one comprehensive and high-quality medical and health services for children, adults, the elderly and patients with chronic diseases. Such services include real-time consultations, second medical opinion from renowned doctors, arrangement for offline outpatient treatment and proactive healthcare management advice, thereby creating a one-stop product addressing users specific medical and health needs.

Following a brief fall below HK$30 in early August, the shares rallied quickly after the release of 1H2019 results. Investment banks have released their optimistic views on the company, of which Ping An Securities gave it a maximum target price of HK$69, which is the highest among the banks. HSBC Securities said online medical charges and medical insurance payments would benefit Ping An Good Doctor, a promising prospect being expected in the second half of the year. As thus, HSBC Securities maintains a "buy" rating on the Company, raising its target price to HK$57.30 from HK$55.50.

JP Morgan stated that it is pleased seeing the company's conversion rate of paying users increased to 3.7% (3.1 % in the first half of 2018) while MPU (monthly paying users) grew rapidly by 61% to 2.2 million. Such favorable data shows a steady progress in profitability of the company with a target price given of HK$63.

View original content:http://www.prnewswire.com/news-releases/shares-of-ping-an-good-doctor-jumped-nearly-50-after-the-results-with-banks-maintaining-a-buy-rating-300906309.html

SOURCE Ping An Good Doctor