BABA-W (09988.HK)  +1.600 (+1.518%)    Short selling $969.99M; Ratio 11.138%   (BABA.US)      announced the issuance of over HKD12 billion zero-coupon exchangeable bonds (CBs), which can be exchanged for ALI HEALTH (00241.HK)  +0.040 (+0.952%)    Short selling $224.80M; Ratio 34.082%   shares, Goldman Sachs said in its research report. The initial conversion price is equivalent to HKD6.23 per ALI HEALTH share, representing a 37.8% premium over its previous closing price.

Goldman Sachs estimated that if fully converted, it would amount to 1.926 billion ALI HEALTH shares, accounting for about 12% of its issued share capital. This bond issuance may lead to short-term volatility in ALI HEALTH's stock price but will also ramp up the liquidity of ALI HEALTH shares.

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The business cooperation between ALI HEALTH and Alibaba Group remains unchanged, and ALI HEALTH continues to be an important member driving the "AI + Healthcare" industry transformation within the group's ecosystem.

The Neutral rating on ALI HEALTH was maintained with a target price of HKD4.1. However, based on the current risk-reward level, the broker preferred JD HEALTH (06618.HK)  +1.650 (+3.943%)    Short selling $47.46M; Ratio 14.325%   over ALI HEALTH.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-08 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)