Hangzhou Tigermed Consulting Co., Ltd. (300347)

Equity Analysis Report　|　Industry: Pharmaceutical R&D Outsourcing (Clinical CRO)　|　Report Date: September 13, 2026　|　The research notes do not provide a unified price-data cutoff date and time; only certain sources mention prices and fund-flow data for individual trading days (such as RMB 52.80, RMB 54.68, and main-fund flows on September 9/September 11), so a unified cutoff cannot be confirmed.

This report was automatically compiled by AI based on publicly available information. It is for reference only and does not constitute investment advice.

1. Executive Summary

Tigermed’s latest operating performance is characterized by “revenue growth, recovery in the core business, but reported losses”: in the first half of 2026, the company generated revenue of RMB 3.708 billion, up 14.06% year on year; net profit attributable to shareholders was a loss of RMB 413 million, compared with a profit in the prior-year period, mainly due to non-recurring losses including a RMB 443 million fair-value loss on non-current financial assets and approximately RMB 46.06 million in losses from the disposal of financial assets. Net profit attributable to shareholders excluding non-recurring items was RMB 278 million, up 31.78% year on year. Second-quarter non-recurring-adjusted attributable net profit was RMB 157 million, up 45.1%, indicating a recovery in profitability in the core clinical CRO business.

Orders and business backlog provide medium-term growth support. Net new orders in 2025 were RMB 10.16 billion, up 20.7% year on year, while cumulative contracts pending execution at year-end were RMB 18.20 billion, up 15.3%. In the first half of 2026, contract liabilities rose 25.54% from the beginning of the year to RMB 1.355 billion, and 667 clinical-trial projects were under execution. The company covers 42 countries and regions, has 11,130 employees, and has accumulated experience in 164 international multicenter clinical-operations projects. Its overseas gross margin was 30.26%, above the 23.77% gross margin for domestic operations.

Earnings quality remains a key area to monitor. Revenue in 2025 was RMB 6.833 billion, up 3.48%, and net profit attributable to shareholders was RMB 888 million, up 119.15%. However, net profit attributable to shareholders excluding non-recurring items was only RMB 355 million, down 58.47%, indicating that reported profit growth was also affected by non-recurring items such as fair-value changes in financial assets. Overall gross margin in the first half of 2026 was 26.6%, down 2.8 percentage points year on year. Gross margin was 31.93% for clinical-trial-related and laboratory services and 21.09% for clinical-trial technical services. Pricing, execution of legacy contracts, and foreign-exchange factors continued to pressure margins.

Uncertainty at the governance and market levels has increased. The company’s actual controllers, Ye Xiaoping and Cao Xiaochun, received warning letters and advance notices of administrative penalties in September 2026 for failing to timely fulfill information-disclosure obligations relating to historical shareholding changes. The proposed aggregate fine is RMB 1 million, while the final penalty remains pending. Regarding technical data, the available materials only show share prices of approximately RMB 52.80 or RMB 54.68 at certain points, as well as net selling by main funds on several trading days. There is no unified-date information on moving averages, trading volume, turnover rate, or key support and resistance levels, which is insufficient for a complete technical-trend assessment.

2. Company Overview

2.1 Basic Information

2.2 Main Businesses and Product Mix

• Clinical-trial-related and laboratory services: data management and statistical analysis, site management organization (SMO), patient recruitment, medical imaging, and laboratory services through Frontage Holdings; FY2025 revenue of RMB 3.447 billion, accounting for 50.44%, with a gross margin of 32.64%; 2026H1 revenue of RMB 1.842 billion, accounting for 49.69%, with a gross margin of 31.93%
• Clinical-trial technical services: clinical operations, clinical pharmacology, registration and regulatory affairs, scientific affairs, medical translation, pharmacovigilance, real-world research, third-party audits, and training; FY2025 revenue of RMB 3.267 billion, accounting for 47.81%, with a gross margin of 20.09%; 2026H1 revenue of RMB 1.773 billion, accounting for 47.83%, with a gross margin of 21.09%
• Other businesses: FY2025 revenue of RMB 119.5 million, accounting for 1.75%, with a gross margin of 77.19%; 2026H1 revenue of RMB 91.73 million, accounting for 2.47%, with a gross margin of 63.39%
• FY2025 geographic mix: RMB 3.705 billion domestic revenue (54.23%) and RMB 3.128 billion overseas revenue (45.77%); 2026H1 domestic revenue of RMB 2.030 billion (54.74%, gross margin 23.77%) and overseas revenue of RMB 1.586 billion (42.78%, gross margin 30.26%). Overseas gross margin was significantly higher than domestic gross margin

2.3 Position in the Upstream and Downstream Value Chain and Cost-Profit Structure

Tigermed operates in the clinical CRO industry, whose value-chain characteristics differ from those of manufacturing. Upstream inputs are centered on labor/professional employee compensation and costs related to clinical-trial institutions, while downstream customers include multinational pharmaceutical companies, large domestic pharmaceutical companies, small and mid-sized biotechnology companies, and medical-device companies. Based on publicly available information cited in the research notes, this section reviews the company’s cost structure, customer base, and working-capital utilization. In the CRO context, “capacity” does not refer to production lines but rather to the combined resources of its employee network, order backlog, and clinical-center network.

• Labor/professional employee compensation: core clinical CRO inputs include clinical research associates (CRAs), clinical research coordinators/SMO personnel, data-management and statistics staff, medical writers, and pharmacovigilance personnel. A global workforce of more than 11,000 means labor costs are the largest component of operating costs. ⚠️Uncertainty: the search did not identify an original disclosure in Tigermed’s annual report showing the proportion of employee compensation in operating costs, so no specific percentage is cited. An industry cross-check is that operating costs in 1Q25 rose 20.76% year on year, significantly faster than revenue growth of 15.17%; cost rigidity mainly arose from personnel and project investment (source: http://202.62.215.13/www/tc/ashares/quote_ci_pl.php?code=300347)
• Clinical-trial institution costs and patient-related expenses: the second major direct cost specific to clinical CROs, including payments to research centers, investigators, patient compensation, and ethics-review fees. Tigermed manages 300 key partner centers through its E-Site digital platform, but research centers are highly fragmented and there is no dependence on a single supplier
• Laboratory consumables and reagents, bioanalytical materials through Frontage’s laboratory business, systems and data services including the internally developed Taiya AI platform and CDISC-standard tools, and outsourced medical translation
• Geographic cost advantages (industry-level, not a company-specific disclosure): research costs for all stages of preclinical and clinical trials in China are only 30%–60% of those in developed countries, forming the cost basis for Chinese clinical CROs to undertake global orders. Source: Zhiyan Consulting, “2025 Outlook! China’s Clinical CRO Industry…” https://m.chyxx.com/industry/1238817.html
• Bargaining power over upstream suppliers: generally that of a price taker—labor costs rise rigidly with industry inflation, as do research-center fees, leaving the company with little ability to negotiate down upstream prices. One verifiable supporting indicator is the very small scale of prepayments: at end-2025, total prepayments to the five largest recipients were only RMB 32.15 million, or 26.14% of total prepayments (single source: the company’s 2025 annual report, reproduced by 9fzt at https://www.9fzt.com/detail/sz_300347_9_882710d135eb781f59ddc392b2fcc544.html). This indicates that the company neither has large upstream prepayments tied up nor engages in “locking in prices by stockpiling materials,” consistent with a service-company profile
• Customer composition: multinational pharmaceutical companies (MNCs), large domestic pharmaceutical companies, small and mid-sized biotechnology companies (Biotech), and medical-device companies. Products cover chemical drugs, biologics, vaccines, and devices, while therapeutic areas include oncology, respiratory diseases, infectious diseases, endocrinology, hematology, neurology, cardiovascular diseases, dermatology, immunology, gastroenterology, metabolism, and rare diseases
• Customer concentration in 2025: the five largest customers generated total sales of RMB 984 million, accounting for 14.40% of revenue (first: 5.48%; second: 2.78%; third: 2.41%; fourth: 2.14%; fifth: 1.59%); customer concentration in 2024: the five largest customers generated RMB 745 million, accounting for 11.28% of revenue (first: 3.80%). ⚠️The data come from a “revenue from the five largest customers” table compiled by Chaguwang/Gubite and transcribed from the company’s annual report (http://www.ddx.gubit.cn/mango/jingying/300347.html and http://ddx.gubit.cn/mango/jingying/300347.html). They are third-party reproductions rather than direct quotations from the annual report and could not be cross-verified; the latest annual report should prevail
• Historical comparison, indicating a long-term trend toward customer diversification: the five largest customers accounted for 22.41%/27%/35% of revenue in 2009/2010/2011, while a single major customer, Takeda Pharmaceutical, once accounted for 12.55%. Source: Sohu Finance IPO-period report in 2012 https://business.sohu.com/20120803/n349748886.shtml
• Industry pricing dynamics: unlike the “annual price reduction” clauses common in auto parts, clinical CRO pricing is negotiated by project, labor hours, and milestones, and fluctuates with downstream financing cycles. Domestic innovative-drug primary and secondary-market financing was weak in 2023–2025, and cash-strapped unprofitable Biotechs pushed the industry into a period of declining order ASPs and price competition. The company’s ASP for new orders stabilized in 2025 and returned to growth in 2026H1; 2026 is viewed as a potential “volume and price growth” window. Source: Pharnexcloud clinical CRO industry tracking report https://consult.pharnexcloud.com/report/detail/114769.html
• Risk point in customer-structure changes, according to the company: in 2025, domestic clinical-operations orders that were proactively terminated mainly came from start-up biotechnology companies dependent on external financing. This helps explain why customer concentration increased from 11.28% to 14.40%: budgets at smaller customers contracted, mechanically increasing the share of large customers
• Days sales outstanding: 72.85 days in 2025, 71.43 days in 2024, 74.86 days in 2025Q3, and 69.09 days in 2026Q1—stable at around 70 days with no deterioration. Sources: RuiCaijing https://m.rccaijing.com/company/reports/67121.html?type=indicators; Stockstar historical gross-margin page https://resource.stockstar.com/DataCenter/PrivateData/Assess_history_300347_SEL_RINT_6.html. Inventory turnover days were 187.39 days in 2025; under the CRO accounting model, this mainly represents contract fulfillment costs/work in progress rather than merchandise inventory. The five largest debtors as a proportion of receivables plus contract assets were 13.96% in 2026H1 (RMB 275 million in total), 14.27% in 2024H1 (RMB 620 million), and 15.25% in another period. Sources: 2026 interim report reproduced by Stockstar (https://wap.stockstar.com/detail/SN2026082800042577), 2024 interim report in Sina Finance’s announcement database (https://vip.stock.finance.sina.com.cn/corp/view/vCB_AllBulletinDetail.php?id=10437165). Conclusion: Tigermed’s downstream capital tie-up does not appear severe, with receivable turnover at around 70 days. Combined with the approximately 14% share of the five largest debtors and approximately 14% customer concentration, the overall bargaining relationship appears relatively balanced. There is no evidence that downstream customers have materially tied up the company’s funds or that the company has significant bargaining dominance over downstream customers.
• Customer concentration in 2025: the five largest customers generated RMB 984 million, accounting for 14.40% of revenue (first: 5.48%; second: 2.78%; third: 2.41%; fourth: 2.14%; fifth: 1.59%); in 2024, the five largest customers generated RMB 745 million, accounting for 11.28% of revenue (first: 3.80%). ⚠️These data were compiled by Chaguwang/Gubite from the company’s annual report and are third-party reproductions rather than direct quotations; they could not be cross-verified and the latest annual report should prevail. Historical comparison: the five largest customers accounted for 22.41%/27%/35% of revenue in 2009/2010/2011, while Takeda Pharmaceutical once accounted for 12.55% (source: Sohu Finance IPO-period report in 2012), reflecting a long-term trend toward customer diversification.

Tigermed occupies a position in the lower-middle portion of the smile curve: as a clinical CRO services provider, its upstream consists of rigid labor costs and fragmented clinical-trial institution expenses, making it a price taker; its downstream customers are pharmaceutical companies and Biotechs, with pricing negotiated by project, labor hours, and milestones and concentration of approximately 14%. Its gross margins vary by business from 20%–33%, representing a midstream services position rather than a high-margin upstream resource or downstream brand position. Further margin improvement will be driven by the return to growth in new-order ASPs in 2026H1, higher exposure to overseas higher-margin business (overseas gross margin of 30.26% versus 23.77% domestically), and upgrades to the product/business mix, including the increase in clinical-trial technical-service gross margin from 20.09% to 21.09%, rather than by cost controls or scale expansion alone.

3. Financial Data and Valuation Analysis

3.1 Recent Operating Performance

The latest financial report is the 2026 interim report, disclosed on the evening of 2026-08-28/2026-08-29; the FY2025 annual report was disclosed on 2026-03-30; the FY2024 annual report was disclosed on 2025-03-27/28; 2026Q1 data were relayed from a Goldman Sachs report via aastocks on 2026-05-04 and are not the company’s original disclosure; the 2023–2025 revenue/profit trajectory follows Guolian Minsheng’s methodology. In 2026H1, net profit attributable to shareholders excluding non-recurring items was RMB 278 million, up 31.78%, and basic EPS was -RMB 0.48. In 2026Q2, non-recurring-adjusted profit was RMB 157 million, up 45.1% year on year and 30.68% sequentially. Overall gross margin in 2026Q1 fell to 26.6%, affected by legacy-contract execution, foreign exchange, and pricing pressure in certain businesses. In FY2025, non-recurring-adjusted attributable net profit was RMB 355 million, down 58.47%, and basic EPS was RMB 1.04. The company proposed a cash dividend of RMB 1.26 per 10 shares, including tax. Net new orders during the reporting period, after excluding cancellations, were RMB 10.16 billion, up 20.7%, and cumulative contracts pending execution at period-end were RMB 18.2 billion, up 15.3%. In FY2024, non-recurring-adjusted attributable net profit was RMB 855 million, down 42.13%, basic EPS was RMB 0.47, weighted-average ROE was 1.94%, and the company proposed a cash dividend of RMB 3 per 10 shares, including tax. The company stated that the 2026H1 loss was mainly caused by fair-value losses on financial assets under non-recurring items; on a core-business basis, as measured by non-recurring-adjusted earnings, the business actually grew. Sources: CNI Intelligent Wealth, East Money, aastocks, China Merchants Securities’ interim-report review dated 2026-08-31, Securities Times/Sina, China Securities Journal, Guolian Minsheng annual-report review dated 2026-04-01, East Money, Tonghuashun, and Goldman Sachs report references.

Three-year revenue/profit trajectory on the Guolian Minsheng basis: 2023–2025 revenue was RMB 7.38/6.60/6.83 billion, representing year-on-year growth of +4.2%/-10.6%/+3.5%; attributable net profit was RMB 2.02/0.41/0.89 billion, representing year-on-year growth of +0.9%/-80.0%/+119.2%. 2024 was therefore the earnings trough. Reported net profit rebounded sharply in 2025, but non-recurring-adjusted profit still declined. In 2026H1, non-recurring-adjusted profit returned to growth of 31.78%, while reported profit was dragged into a loss of RMB 413 million by fair-value changes. Second-quarter revenue was RMB 1.906 billion, up 13.03% year on year and 5.81% sequentially; attributable net profit was -RMB 462 million, down 312.15% year on year and 1,042.44% sequentially; non-recurring-adjusted profit was RMB 157 million, up 45.1% year on year and 30.68% sequentially, indicating a recovery in core profitability. 2026Q1 revenue rose 15.2% year on year to approximately RMB 1.8 billion, above Goldman Sachs’ estimate; adjusted net profit was RMB 120 million, below Goldman Sachs’ RMB 140 million estimate; overall gross margin fell to 26.6%.

3.2 Earnings Forecasts

Source: the etnet earnings-estimates page for 03347 (http://content.etnet.com.hk/content/iq/compinfo/tc/quote_profit.php?code=3347), an H-share page. A- and H-shares belong to the same company, and the forecast basis is the consolidated company. The page lists 11 brokers, with an average rating of 2.00, leaning toward “buy.” These are third-party consensus estimates rather than company disclosures and should not be considered company guidance. FY2026 broker forecasts for net profit (RMB million)/EPS (RMB)/target price (HKD): Citi, Buy, 1,006/1.18/73.00 (2026-07-21); CLSA, Outperform, 1,230/1.44/56.10 (2026-04-28); BOC International, Buy, 1,331/1.53/48.00 (2026-04-30); CITIC Securities, Buy, 1,118/1.30/56.00 (2026-04-21); UBS, Buy, 1,003/1.16/52.00 (2026-05-28); BofA, Buy, 645/0.75/50.00 (2026-03-31); CICC, Outperform, 923/1.07/57.50 (2026-03-31); Jefferies, Buy, 964.63/1.13/55.00 (2026-03-31); Daiwa, Buy, 740/0.87/44.00 (2026-07-07); Goldman Sachs, Buy, 561.2/0.66/59.40 (2026-04-28); JPMorgan, Neutral, 544/0.63/41.00 (2026-08-03). Dispersion is extremely wide, reflecting differing views on fair-value/non-recurring items and the pace of core-business recovery. For 2026 and thereafter, the etnet page provides detailed figures only for FY2026. The research notes also mention 2026–2028-related figures: Jefferies’ 2026 EPS of 1.13 and its 2026–2028 target-price framework; and CLSA’s HKD 56.10 target price corresponding to its 2026–2028 outlook. Multiple reports mention recurring-profit recovery in 2027–2028, but the search did not obtain a complete annual consensus table for each year. Tonghuashun’s basic.10jqka.com.cn/300347/worth.html could not be successfully retrieved. This is noted as a limitation and should be supplemented. (Note: the research notes do not provide annual FY2027 or FY2028 consensus figures for revenue, net profit, or EPS, so none are listed.)

3.3 Valuation and Institutional Ratings

Market capitalization/share capital: total shares outstanding are 872,418,220, including 123,124,800 H-shares; this comprises approximately 749 million A-shares and 123 million H-shares, according to BOC Hong Kong/etnet company data. Market-capitalization figures on different third-party pages are inconsistent and refer to different dates: the BOC Hong Kong page shows RMB 34.5755 billion, while another SN page shows RMB 30.3821 billion; the aastocks page, last updated 2026/07/07, shows total market capitalization of RMB 39.8655 billion and tradable market capitalization of RMB 31.9285 billion. Share price: a Sina flash quote on 2026-03-30 showed approximately RMB 55.04, up 3.26% on the day; multiplying by 872 million shares implies market capitalization of approximately RMB 48 billion, materially different from the RMB 39.8 billion figure above, indicating inconsistent dates and methodologies. The precise latest A-share closing price and market capitalization could not be verified from a reliable static source in this research and require further checking (recommended sources: stcn.com/quotes/index/sz300347.html or yyqyx.com/s/300347.SZ).

Regarding PE, because attributable profit turned negative in 2026H1, TTM earnings are materially depressed. A rough calculation gives TTM attributable profit of approximately RMB 92 million: 8.88 (FY2025) - 3.83 (2025H1) + (-4.13) (2026H1). This implies an extremely high TTM PE, in the hundreds, with limited reference value. Greater weight should be placed on non-recurring-adjusted earnings, which rose 31.78% in 2026H1, and broker consensus forecasts. Based on FY2026 consensus net profit of approximately RMB 540 million–RMB 1.33 billion, forward PE varies widely depending on the target-price and market-capitalization basis. A clean, consistent market-capitalization figure was not obtained, so no single PE is provided and the matter remains subject to confirmation.

Net asset value per share/dividend: etnet shows net assets per share of approximately RMB 24.102 and dividend per share of RMB 0.568, based on historical figures. Huaxi Securities’ F10 page, updated 2026-08-29, shows net assets per share of RMB 22.62, ROE of -2%, and operating cash flow per share of RMB 0.49; its EPS of -RMB 0.48 is consistent with the 2026H1 interim report. Sources: BOC Hong Kong/etnet company data, aastocks, Sina, and https://m.hx168.com.cn/stock/F10/300347.html.

Uncertainties and limitations: (1) The latest financial report in these notes is the 2026 interim report, disclosed on 2026-08-28/29, and all information is treated as current to that report; no 2026 third-quarter report appeared in the search results. (2) FY2026 earnings forecasts are aggregated consensus estimates from 11 brokers on etnet’s H-share page, with extremely wide dispersion: net profit of RMB 540 million–RMB 1.33 billion and EPS of RMB 0.63–RMB 1.53. The differences mainly reflect differing assumptions regarding non-recurring items, fair-value changes in financial assets, and the pace of core-business recovery; they should not be treated as company guidance. (3) A- and H-share target prices cannot be directly compared because of different currencies. (4) Market-capitalization and PE figures on third-party pages use inconsistent dates and methodologies: RMB 30.38 billion/RMB 34.58 billion/RMB 39.87 billion. The latest A-share closing price, total market capitalization, and dynamic TTM PE could not be cross-verified from reliable static sources and should be reconfirmed. (5) The search produced an erroneous source attaching code 300347 to “Shanghai Fuling Automation”; this has been excluded, but subsequent checks should take care. (6) Data dates: 2026H1, disclosed 2026-08-29; FY2025, disclosed 2026-03-30; FY2024, disclosed 2025-03-27; and 2026Q1, relayed by Goldman Sachs. Dates for institutional views are shown in each entry.

4. Recent News and Announcements

4.1 Actual Controllers Ye Xiaoping and Cao Xiaochun Received Warning Letters and Advance Notices of Administrative Penalties for Information-Disclosure Violations (Announcement No. 2026-051)

On 2026-09-11, actual controllers Ye Xiaoping and Cao Xiaochun received warning letters and an Advance Notice of Administrative Penalty (Zhejiang Penalty Notice [2026] No. 21) from the Zhejiang Regulatory Bureau of the CSRC. The company disclosed a progress announcement on the evening of 2026-09-11/2026-09-12 (Announcement No. 2026-051). Previously, on 2026-05-12, the company disclosed an announcement that the actual controllers had received a notice of investigation from the CSRC (Announcement No. 2026-021). The two individuals were placed under investigation for suspected illegal or irregular information disclosure relating to changes in Tigermed shareholdings.

There were two alleged violations: (a) under the warning letter, on 2022-12-07 the two individuals voluntarily reduced their shareholdings, resulting in an aggregate 1% reduction in equity interests, but failed to disclose the change in a timely manner and did not disclose it until 2026-05-12. This allegedly violated Article 13, Paragraph 3 of the Administrative Measures for the Acquisition of Listed Companies (CSRC Orders No. 166 and No. 227). The measure is the issuance of a warning letter and entry into the integrity files of the securities and futures markets; a written report must be submitted within 10 working days. (b) Under the Advance Notice of Administrative Penalty, on 2019-09-20, controlling shareholder Ye Xiaoping and his acting-in-concert party Cao Xiaochun had cumulative changes in their combined voting-shareholding percentage reaching 5%, but failed to timely disclose a Simplified Equity-Change Report and only made supplementary disclosure on 2026-05-12. This allegedly violated Article 86, Paragraph 2 of the 2005 Securities Law and Article 63, Paragraph 2 of the 2019 Securities Law. The proposed penalty is a warning and a total fine of RMB 1 million, with RMB 500,000 for each of Ye Xiaoping and Cao Xiaochun.

The company stated that the matter concerned historical shareholding changes and information disclosure by the actual controllers, was unrelated to the company’s operations, and would not affect normal production or business activities. It does not constitute a circumstance for mandatory delisting due to a major legal violation and does not trigger other risk warnings. The Advance Notice of Administrative Penalty is a pre-penalty procedure, and the final outcome will be determined by the Zhejiang Regulatory Bureau’s formal Administrative Penalty Decision; the parties retain the right to make statements, submit defenses, and request a hearing. Sources include the full Sina Finance announcement, CFi.cn, East Money, CLS/9fzt, JRJ Finance, Wallstreetcn, Stockstar, Jinwu Caixun, and the H-share announcement. The penalty amount and alleged violations are highly consistent across multiple sources and therefore have relatively high credibility, but the penalty has not yet been finalized.

4.2 2026 Interim Report: Turnaround from Profit to Loss in the First Half; Attributable Net Profit of -RMB 413 Million

Disclosed on 2026-08-28, the company’s ChiNext interim report was accompanied by a simultaneous overseas regulatory announcement for H-shares. Revenue was RMB 3.708 billion, up 14.06% year on year; attributable net profit was -RMB 413 million versus RMB 383 million in the prior-year period, down 207.78% year on year and turning from profit to loss; non-recurring-adjusted attributable net profit was RMB 278 million, up 31.78%, indicating recovery in core-business earnings; basic EPS was -RMB 0.48; no dividend was declared.

The main causes of the loss were a RMB 443 million fair-value loss on non-current financial assets and approximately RMB 46.06 million in investment losses from the disposal of financial assets. Non-recurring items in aggregate reduced profit by approximately RMB 691 million. As of 2026-06-30, total assets were RMB 27.893 billion and total liabilities were RMB 4.802 billion. Operating/order indicators included an overall gross margin of 26.6%, down 2.8 percentage points year on year; gross margins of 21.1% for clinical technical services and 31.9% for related and laboratory services; 667 clinical-trial projects under execution; a 45% year-on-year increase in North American projects; and contract liabilities of RMB 1.355 billion, up 25.54% from the beginning of the year. Sources: China Securities Journal/CNStock, Blue Whale News, China Fund News, AASTocks, and China Merchants Securities’ report dated 2026-08-31. Note: the large difference between attributable net profit of -RMB 413 million and non-recurring-adjusted profit of RMB 278 million represents a “reported loss but profitable core business” structure; the two figures must be distinguished when cited.

4.3 2025 Annual Report and Dividend Proposal: Net Profit Up 119.15%; Proposed RMB 1.26 per 10 Shares

Disclosed on 2026-03-31, with a notice announcement issued on the evening of 2026-03-30 (Announcement Code 2026-009). Revenue was RMB 6.833 billion, up 3.48% year on year; attributable net profit was RMB 888 million, up 119.15%, mainly boosted by non-recurring items such as fair-value changes in financial assets; non-recurring-adjusted attributable net profit was RMB 355 million, down 58.47%; net operating cash flow was RMB 1.118 billion, up 1.92%; basic EPS was RMB 1.04; weighted-average ROE was 4.29%. The 2025 distribution proposal was a cash dividend of RMB 1.26 per 10 shares, including tax. Sources: China Securities Journal/CNI Intelligent Wealth and East Money. Note: the sharp increase in 2025 net profit and the reported loss in 2026H1 represent a clear contrast, with both mainly driven by non-recurring fluctuations in the fair value of financial assets rather than by the core-business trend.

4.4 Intensive Progress on A-Share Buybacks in 2025 and General Mandate for H-Share Buybacks

A-share buyback updates were disclosed intensively from January to March 2025: on 2025-01-26, cumulative repurchases reached 3.8071 million shares at a cost of RMB 199 million; on 2025-02-05, 7.2152 million shares at RMB 366 million; on 2025-02-11, 8.7739 million shares at RMB 444 million, together with another progress announcement stating that the repurchase ratio had reached 1%; and by 2025-03-04, approximately RMB 500 million had been spent to repurchase 9.8063 million shares.

At the 2025 annual general meeting on 2025-05-30, shareholders considered proposals including a general mandate authorizing the board to repurchase H-shares. Sources: Stockstar announcement listings, Sina Finance company memoranda, and Sohu major-event memoranda. Note: the search did not identify new buyback updates in 2026, possibly because of search limitations. All buyback details here relate to 2025 and do not represent the current status. Whether 2026 buybacks continued or ended requires separate verification. The H-share general mandate was an authorization resolution and does not mean that buybacks were actually executed.

4.5 General Manager Cao Xiaochun Completed Implementation of Share-Reduction Plan (2025)

Executive share reduction: on 2025-07-28, general manager Cao Xiaochun announced plans to reduce holdings by no more than 3 million shares. On 2025-09-24, Cao Xiaochun, a director and senior executive, reduced holdings by 347,600 shares at an average transaction price of RMB 60.78 through competitive bidding. On 2025-11-18, the company received Cao Xiaochun’s notice that the reduction plan had been completed; the plan period had expired, with aggregate reduction of 347,600 shares, representing 0.0406% of total shares excluding the repurchase account and 0.0475% of total A-shares. Sources: AASTocks China market news and East Money F10 company events.

4.6 Cao Xiaochun Share-Pledge Records

East Money F10’s “Major Events—Share Pledge” section shows announcement dates including 2026-05-14, 2026-05-12, 2025-09-29, and 2025-05-15. Pledgees include Caitong Securities Asset Management, Guotai Haitong Securities, and Essence Securities Asset Management. One pledge of 2.6 million shares was released on 2025-09-26, representing 5.07% of his holdings and 0.30% of total shares, leaving 20 million shares pledged. Other records include 20 million shares, representing 2.32% of total shares and 38.98% of his holdings, and 18.5 million shares, representing 2.15%/36.05%, with pledge start dates of 2025-05-13 and 2026-05-12. Source: East Money F10. Note: dates in the pledge table mix announcement dates, start dates, and release dates, and some data are automatically captured F10 data. The latest record dated 2026-05-14 was not verified through a second source; exact pledged quantities and ratios should be confirmed against original announcements on cninfo.com.cn.

4.7 Regular Shareholders’ Meetings and Governance Announcements

On 2025-09-29, the company held its first extraordinary shareholders’ meeting of 2025, considering proposals to amend the Articles of Association; reduce registered capital; amend the rules of procedure for shareholders’ meetings and the board of directors; revise the independent-director system; and revise systems governing external investment, related-party transactions, external guarantees, and information disclosure.

4.8 Disposal of All Equity in Lixin Pharmaceutical and Disposal of External Investments

On 2025-07-17, the company announced its intention to sell all equity in Lixin Pharmaceutical held by Tigermed for approximately US$34.11 million, according to the Stockstar company announcement listing. The 2026 interim report mentioned an investment loss of approximately RMB 46.06 million recognized from the disposal of related financial assets during the reporting period, consistent with the above asset-disposal chain. The fifth board’s 17th meeting resolution announcement was issued on 2025-07-18, followed by a voluntary H-share announcement on 2025-07-30. Note: complete information regarding the counterparty, delivery progress, and whether further acquisitions occurred was not obtained in this research and requires review of the original announcements.

4.9 Share Price/Market-Capitalization Snapshot for Cross-Reference

At the close on 2026-09-11: RMB 52.80 per share, down 1.88% on the day, with total market capitalization of RMB 45.462 billion. Source: Duchuang Finance/Shenzhen Business Daily, reproduced by news.qq.com. Note: this market capitalization is from a single media source and the share price fluctuates in real time; it is for reference only. Another AASTocks snapshot showed a one-day gain of 5.898% around 2026-08-28 (+RMB 2.94); dates differ and should not be combined.

4.10 Industry/Policy News (Not Covered)

The search did not obtain any 2026 regulatory or policy announcement directly related to Tigermed that could be cross-verified, such as specific policies on innovative-drug approvals or the CRO industry. This item remains blank and is marked as not covered. It should be supplemented using the 300347 announcement list on cninfo.com.cn and updates from the NMPA and National Healthcare Security Administration.

5. Share-Price Trend and Technical Analysis

5.1 Price Overview

5.2 Technical Indicators

The research notes identify Tigermed (300347) as a ChiNext-listed company in the research and experimental-development industry. Quote pages showed prices of RMB 52.80 (-1.88%) and RMB 54.68 (+2.59%) at different points, but the notes do not provide a complete price snapshot as of a unified cutoff date, including closing price, trading volume, turnover value, and turnover rate. The notes also contain no specific values for moving averages, Bollinger Bands, 52-week highs/lows, or recent swing highs/lows, so precise resistance and support cannot be calculated. Fund-flow information is limited to net selling by main funds on September 9, September 11, and August 27. Overall, the available quantitative technical data are limited; most of the material consists of source links and analytical approaches. Further analysis requires completion of the price and indicator data.

5.3 Short-Term Outlook (Next Week; Scenario Analysis for Reference Only)

⚠️ Risk warning: The following is a subjective scenario analysis based on limited data in the research notes. It does not constitute investment advice or any instruction to buy or sell.

① Key Technical Levels

② Scenarios for the Next Week (Subjective Weights, Not Statistical Probabilities)

• Consolidation (relatively higher weight, approximately 60%; a subjective heuristic based on current technical/fund-flow conditions, not a statistical probability): in the absence of a clear directional catalyst, the share price may oscillate between the previously mentioned but undefined resistance and support levels. Trigger conditions: the broader market and healthcare sector remain broadly stable, trading volume stays within recent normal levels, and no major news emerges. Because specific price-range data are missing, no corresponding range can be provided.
• Weak downward movement (medium weight; a subjective heuristic based on current technical/fund-flow conditions, not a statistical probability): the notes show net selling by main funds on both September 9 and September 11. If net outflows continue and trading volume expands, the share price may test support to the downside. Trigger conditions: continued net selling by main funds, weakness in the healthcare/research-and-experimental-development sector, and a break below support levels mentioned in the notes but not quantified. Because key support values are missing, no specific downside target range can be provided.
• Rebound and strengthening (low weight; a subjective heuristic based on current technical/fund-flow conditions, not a statistical probability): if favorable industry policy emerges or funds return, the share price may rebound. However, the notes do not record moving-average resistance or swing highs, so no rebound target range can be provided. Trigger conditions: a significant increase in daily turnover value accompanied by a switch to net buying by main funds, improving sector sentiment, and a high-volume breakout above resistance.

③ Fund-Flow and Liquidity Background

The research notes provide fund-flow pages from several sources, including East Money, Tonghuashun F10, and Sina Finance, and record net selling by main funds on three trading days: RMB 10.7708 million on August 27, RMB 59.8852 million on September 9, and RMB 34.9798 million on September 11. Beyond this, the notes provide no turnover rate, normal daily turnover-value range, concentration of the ten largest shareholders, or information on whether public funds, social-security funds, QFII, or other institutions were among the ten largest shareholders. It is therefore impossible to assess the shareholding structure, institutional ownership, order-book depth, or any small-cap liquidity premium. These fund-flow figures are historical records for specific trading days and do not represent current or future fund-flow conditions; statistical methodologies may also differ across sources. The ten largest shareholders and institutional holdings are generally disclosed quarterly and are subject to a lag. No such data were provided in the notes, so the relevant years and limitations cannot be specified.

The research notes do not provide a normal range for recent daily turnover value or turnover rate, so no verifiable volume-expansion threshold can be calibrated. After recent average daily turnover data are obtained, a confirmation signal for fund participation could be defined as daily turnover value remaining above a specific amount.

④ Points to Monitor (Observation Framework Only, Not Trading Instructions)

• Monitor the moving-average data (MA5/MA10/MA20/MA60) and Bollinger Band values once supplemented, and use them to identify short-term resistance and support ranges.
• Observe whether net selling by main funds continues, particularly whether daily net selling narrows relative to the September 9 and September 11 figures or turns into net buying.
• Track changes in trading volume and turnover rate. Once the normal turnover-value range is available, use volume expansion as an observation signal for fund participation.
• Monitor policy and news developments in the healthcare/research-and-experimental-development industry as potential triggers for a change in scenario. These are observation guidelines only and not trading instructions.

The above scenario analysis is based on the limited price and fund-flow data recorded in the research notes, including main-fund flows on August 27, September 9, and September 11, as well as scattered quotes such as RMB 52.80 and RMB 54.68 shown on quote pages. Because the notes do not provide a unified closing-price date or complete values for moving averages, Bollinger Bands, and 52-week highs/lows, some ranges cannot be provided. Short-term share prices may also be affected by news, fund flows, and the broader market. Technical indicators have inherent lags and limitations and do not guarantee future price performance or constitute buy/sell advice. Investors should independently assess the latest market information and bear investment risks themselves.

6. Industry Structure and Competitor Analysis

6.1 Industry Conditions

Tigermed operates in the clinical CRO segment of the pharmaceutical R&D outsourcing industry. According to the research notes, research costs for all stages of preclinical and clinical trials in China are only 30%–60% of those in developed countries, forming the cost basis for Chinese clinical CROs to undertake global orders. Domestic innovative-drug primary and secondary-market financing was weak in 2023–2025, and cash-strapped unprofitable Biotechs pushed the industry into a period of declining order ASPs and price competition. The company’s ASP for new orders stabilized in 2025 and returned to growth in 2026H1; 2026 is viewed as a potential “volume and price growth” window. Domestic innovative-drug financing in 2025 reached US$14.684 billion, up 127% year on year, including US$9.466 billion in secondary-market financing, up 317%; primary-market financing also recovered. Source: Pharnexcloud clinical CRO industry tracking report https://consult.pharnexcloud.com/report/detail/114769.html

6.2 Competitive Landscape

• Industry structure: leading companies have clear advantages, competition is intensifying, and leading-company advantages are expanding. Source: Stockstar https://wap.stockstar.com/detail/IG2026010200001944
• Market structure: WuXi AppTec, Pharmaron, and Tigermed form a “three-pillar” structure, but their growth drivers and competitive advantages have diverged materially. Source: http://www.financeun.com/webapp/Article/articleShare?id=63668&platForm=jrw&from=singlemessage&isappinstalled=0
• Scale comparison: among pharmaceutical outsourcing leaders, WuXi AppTec leads with a scale of RMB 45.4 billion, establishing the three-pillar structure. Source: https://www.sgpjbg.com/labelsyh/yiyaowaibaolongtouqiye/2/6919395.html
• Tigermed’s differentiated accumulation: as of 2025-12-31, 164 international multicenter clinical-operations (MRCT) projects, compared with 150 as of 2025-06-30; in 2025, services were provided for 49 approved Chinese Class 1 innovative drugs; since its establishment in 2004 through 2025, the company has served 61% of China’s marketed Class 1 innovative drugs, updated to 62% in 2026H1
• Clinical-center network as of 2025-06-30: 300 key E-Site partner centers, 98 green-channel centers, and eight jointly built centers; 646 drug clinical trials under execution, comprising 409 in China only, 194 overseas only, and 43 MRCT projects; 4,549 laboratory-service projects, 893 statistical projects, and 2,443 SMO site-management projects under execution
• Overseas footprint: nearly 200 local clinical employees and more than 40 projects under execution in the United States; more than 200 employees in Japan after the acquisition of Micron; more than 450 employees in South Korea; a CDMO R&D and manufacturing base in Exton, Pennsylvania, entered production in May 2025; data-management and statistics teams in India and Malaysia were expanded in the second half of 2025

6.3 Key Competitors

Based on the comparison information available in the research notes, Tigermed is a leading company in China’s clinical CRO field. Its differentiated advantages include services for 61% of China’s marketed Class 1 innovative drugs, updated to 62% in 2026H1; experience in 164 MRCT projects; a global network of 11,130 employees covering 42 countries and regions; and RMB 18.20 billion in cumulative contracts pending execution at end-2025. Together with WuXi AppTec, which leads by scale at RMB 45.4 billion, and Pharmaron, the company forms a three-pillar structure, although the three companies have differentiated growth drivers and competitive advantages.

⚠️Limitation: the research notes do not provide specific financial data for WuXi AppTec or Pharmaron, such as revenue, gross margin, or net margin, so quantitative cross-company financial comparison is not possible. The Pharmablock comparison link merely indicates the existence of a financial-report comparison page and provides no specific data. The above qualitative comparison is based on limited third-party industry descriptions and should be checked against each company’s latest annual report.

7. Risk Factors

• Risk of volatility in non-recurring financial-asset gains and losses: in 2026H1, the company recorded a RMB 443 million fair-value loss on non-current financial assets and approximately RMB 46.06 million in losses from the disposal of financial assets, resulting in an attributable net loss of RMB 413 million. Future reported profit may continue to be affected by financial-asset prices and the timing of disposals.
• Risk that non-recurring-adjusted earnings recovery falls short of expectations: non-recurring-adjusted attributable net profit declined 58.47% in 2025 and, although it rose 31.78% in 2026H1, overall gross margin fell to 26.6% and gross margin for clinical-trial technical services was only 21.09%. If legacy-contract execution, pricing pressure, or foreign-exchange effects persist, core-business margin recovery may fall short of expectations.
• Order-conversion risk: cumulative contracts pending execution were RMB 18.20 billion at end-2025 and net new orders in 2025 were RMB 10.16 billion, but clinical CRO orders are executed across multiple cycles. Changes in customers’ R&D plans, project delays, or cancellations could prevent backlog from converting into revenue and cash flow as expected.
• Biotech customer credit and demand risk: the company disclosed that domestic clinical-operations orders proactively terminated in 2025 mainly came from start-up biotechnology companies dependent on external financing. Continued financing pressure on unprofitable Biotechs could result in project cancellations, lower order prices, or longer receivable-collection periods.
• Cost rigidity and productivity risk: the company has more than 11,000 employees globally, and its key clinical CRO costs are professional compensation, clinical-trial institution fees, and project investment. Operating-cost growth exceeded revenue growth in 1Q25. If order releases are insufficient to cover personnel and project costs, scale expansion could pressure margins.
• Customer-structure risk: the five largest customers’ share of sales increased from 11.28% in 2024 to 14.40% in 2025. Although overall concentration remains low, the increase was related to smaller customers’ budget contraction and the resulting rise in large customers’ share. Adjustments to major-customer projects could increase revenue volatility.
• Overseas operating and foreign-exchange risk: overseas revenue represents a significant proportion of total revenue, and overseas gross margin is higher than domestic gross margin. The company operates in the United States, Japan, South Korea, India, Malaysia, and other regions. Exchange-rate changes, overseas-team operations, and cross-border project execution could affect revenue recognition and gross margin.
• Corporate-governance and regulatory risk: actual controllers Ye Xiaoping and Cao Xiaochun failed to timely disclose historical shareholding changes in 2019 and 2022 and have received warning letters and advance notices of administrative penalties proposing aggregate fines of RMB 1 million. The final penalty has not yet been imposed, and uncertainty remains regarding subsequent regulatory action and governance implications.
• Market and technical-analysis risk: the available prices of RMB 52.80 and RMB 54.68 come from different points in time, and there is no unified cutoff date or complete data on moving averages, trading volume, turnover rate, or 52-week highs and lows. Main funds also recorded net selling on August 27, September 9, and September 11. Near-term market performance is therefore highly uncertain, and reliable support, resistance, or trend conclusions cannot be formed from the available data.

8. Conclusion and Outlook

Tigermed’s growth drivers are mainly the recovery in domestic and overseas innovative-drug R&D demand, the release of its order backlog, accumulated international multicenter clinical-project experience, and overseas expansion. New orders and contracts pending execution maintained rapid growth in 2025. Revenue growth accelerated to 14.06% in 2026H1, and non-recurring-adjusted profit returned to growth. If orders convert smoothly into revenue and the average price of new orders continues to improve, core-business profitability should continue to recover.

However, the company’s earnings remain highly volatile. Attributable profit is significantly affected by fair-value changes in financial assets and gains or losses from investment disposals. Reported profit and non-recurring-adjusted profit diverged materially in both 2025 and 2026H1. At the same time, declining overall gross margin, shrinking domestic customer budgets, proactive termination of orders by start-up Biotechs, and rigid personnel and project costs could constrain the pace of margin recovery. Third-party FY2026 net-profit forecasts range from RMB 544 million to RMB 1.331 billion, with very wide dispersion reflecting disagreement over non-recurring items and the pace of core-business recovery.

Future assessment should focus on whether non-recurring-adjusted earnings can sustain growth; the efficiency with which orders convert into revenue and cash flow; changes in the proportion of overseas higher-margin business; customer mix and new-order pricing trends; and the final outcome of the regulatory matter involving the actual controllers. Given inconsistencies in the dates and methodologies of current valuation, market-capitalization, and technical-indicator data, the company’s overall condition should not be judged solely on a single profit figure or scattered market quotes.

Data Sources

• Tigermed (300347.SZ) Core Topics—PC_HSF10 Data - Core Topics
• 300347 Tigermed - Core Topics
• Bank of China (Hong Kong) Limited
• 300347 Tigermed
• Chiyu Banking Corporation
• Tigermed Listed-Company Information
• Tigermed (sz300347)
• Tigermed (300347)_Company Overview_Stock Price_Real-Time Quotes_Charts_News_Research_Financial Reports_FinScope-AI
• Tigermed (300347.SZ) - U.S. Stocks
• H&B
• Tigermed (300347) 2025 Management Discussion and Analysis
• Tigermed (300347) 2025 Management Discussion and Analysis
• Tigermed (300347.SZ) Operating Analysis—PC_HSF10 Data—Main Business
• Tigermed (300347) Operating Analysis—Tonghuashun Finance
• Tigermed (03347) Company Profile—Hong Kong Stocks—Tonghuashun Finance
• Company News
• Tigermed (300347.SZ) - U.S. Stocks
• Tigermed Financial Report Summary
• Pharmablock vs Tigermed: Comprehensive Financial-Report Comparison
• 03347.HK Tigermed | TIGERMED | Company Information—Financial Ratio Overview
• Tigermed (300347) Historical Gross-Margin Changes
• Tigermed Gross Margin %—GuruFocus
• Tigermed Results Report and Analysis—RuiCaijing
• 03347 Tigermed—Free Real-Time Stock Quotes—Financial Ratios Annual Report
• SZ.300347 Tigermed—A-Share Real-Time Quote—Company Information
• Bank of China (Hong Kong) Limited
• Hangzhou Tigermed Consulting (300347) Financial Summary—Tigermed
• Tigermed: 2024 Interim Report—Sina Finance
• Tigermed—More Than One Year
• Tigermed—180 Days to One Year
• Tigermed: 2026 Interim Report—Stockstar
• Tigermed: 2025 Annual Report
• Tigermed Depends on Major Customers; R&D Expenses Low as a Proportion of Funds Raised
• Tigermed (300347) Main-Business Analysis—Chaguwang
• Tigermed (300347) Main-Business Analysis—Gubite
• Tigermed: 2025 Annual Report—9fzt
• Tigermed: 2021 Interim Report
• Industry Deep Dive: China’s CRO Industry Competition and Market Share
• Global Clinical Contract Research Organization Services Industry Report
• China CRO Listed Companies: Comprehensive Comparison
• Clinical CRO Industry Tracking: Improved Supply-Demand Relationship Could Drive Growth in Order Volume and Pricing
• China Innovative-Drug CRO Market Research
• 2025 Outlook: China’s Clinical CRO Industry
• WuXi AppTec, Pharmaron, and Tigermed: Three-Pillar Structure
• Pharmaceutical Outsourcing Leaders: WuXi AppTec Leads at RMB 45.4 Billion
• 2025 China CRO Industry Competition Analysis
• Tigermed: 2024 Net Profit Fell 79.99%; Proposed RMB 3 per 10 Shares
• Tigermed: 2024 Net Profit Fell 79.99%; Proposed RMB 3 per 10 Shares
• Tigermed: 2024 Net Profit Fell 79.99%; Proposed RMB 3 per 10 Shares
• Tigermed (300347.SZ): 2024 Net Profit RMB 405 Million; Proposed RMB 3 per 10 Shares
• Tigermed: 2024 Net Profit Fell 79.99%; Proposed RMB 3 per 10 Shares
• Tigermed (300347.SZ) 2024 Net Profit RMB 405 Million, Down 79.99%
• Tigermed (300347.SZ): 2024 Net Profit RMB 405 Million; Proposed RMB 3 per 10 Shares
• Tigermed 2024 Net Profit RMB 405 Million, Down 79.99%
• Tigermed: 2024 Net Profit Fell 79.99%; Proposed RMB 3 per 10 Shares
• Tigermed: 2024 Net Profit Grew 119.15%; Proposed RMB 1.26 per 10 Shares
• Tigermed: 2025 Net Profit RMB 888 Million, Up 119.15%
• Tigermed: 2026H1 Loss of RMB 413 Million
• Tigermed: 2026H1 Loss of RMB 413 Million
• Tigermed: 2026H1 Loss of RMB 413 Million
• Tigermed (300347.SZ): First-Half Net Loss of RMB 413 Million
• AASTOCKS Financial News—Quick Quotes
• Tigermed (300347): Second-Quarter Core-Business Profitability Recovers
• Tigermed First-Half Loss of RMB 413 Million; Revenue Up 14.1%
• Tigermed (300347): Revenue and Non-Recurring-Adjusted Profit Recovery Accelerates
• Tigermed (300347.SZ): First-Half Net Loss of RMB 413 Million)/stocks/analysis/stock-aafn-con/03347/GLH/GLH5299514N/hk-stock-news)
• Tigermed (03347.HK): Overseas Regulatory Announcement
• Goldman Sachs Cuts Tigermed Target Price to HKD 59.4; Maintains Buy
• HSBC Cuts Tigermed Target Price 7%; Maintains Buy
• Goldman Sachs Cuts Tigermed Target Price to HKD 59.4; Maintains Buy
• ET Net IQ Streaming—Tigermed
• CLSA Raises Tigermed Target Price to HKD 57.2
• Tigermed Actual Controllers Receive Penalty Notice
• Tigermed September 11 Main-Fund Net Selling of RMB 34.9798 Million
• Tigermed Company Events—PC_HSF10
• Tigermed Company Announcements
• Tigermed: Actual Controllers Receive Warning Letter and Advance Notice of Administrative Penalty
• Tigermed: Actual Controllers Receive Warning Letter and Advance Notice of Administrative Penalty—9fzt
• Tigermed: Actual Controllers Receive Warning Letter and Advance Notice of Administrative Penalty
• Tigermed: Actual Controllers Receive Warning; Proposed Fine of RMB 1 Million
• Tigermed: 2026H1 Loss of RMB 413 Million
• Tigermed RMB 52.80 -1.01 (-1.88%) Latest Price
• eCompany Listed-Company Information
• Tigermed (sz300347) Price Trend
• Tigermed (300347) Fund Flows
• Tigermed September 9 Main-Fund Net Selling of RMB 59.8852 Million
• Tigermed August 27 Main-Fund Net Selling of RMB 10.7708 Million
• Tigermed RMB 54.68 +2.59%
• Tigermed (300347) Stock Technical Analysis
• Technical Analysis of Hangzhou Tigermed Consulting Co., Ltd. Class A (SZSE:300347)—TradingView

This report was automatically retrieved, compiled, and generated by AI based on publicly available information. Information is current to: the research notes do not provide a unified price-data cutoff date and time; only certain sources mention prices and fund-flow data for individual trading days (such as RMB 52.80, RMB 54.68, and main-fund flows on September 9/September 11), so a unified cutoff cannot be confirmed. Timing differences may exist. Specific data should be checked against the company’s official announcements and authoritative data terminals. This report is for information organization and research reference only and does not constitute investment advice. Investors should make independent judgments and bear investment risks themselves.