We expect narrow-moat Alibaba Health, or AliHealth, to benefit from low saturation in healthcare e-commerce. The business is still in the early phase where it is focused on mass user adoption and ...

We do not see JD Health to be in any financial distress. The balance sheet has CNY 200 million of debt compared with CNY 40 billion of cash and equivalents and almost no debt as of Dec. 31, 2024. The ...