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At the 15th Annual Meeting of the New Champions, also known as Summer Davos, Yidu Tech's Chairwoman and Founder, Ms. Gong Rujing, shared insights on AI in healthcare. Celebrating Yidu Tech's 10th anniversary, Gong highlighted achievements such as the AI Medical Brain, YiduCore, which processes over 5 billion medical records from 2,500 hospitals. Yidu Tech has supported the publication of 240 high-level papers and engaged with global pharmaceutical companies to optimize clinical trials. The company’s health management platform has nearly 27.6 million active users. Gong emphasized the importance of data security, privacy, and ethical considerations in AI healthcare applications.
Yidu Tech has announced its FY2024 annual results, showcasing significant improvements in operational efficiency and profitability. The company's total revenue reached RMB 807.1 million, with a gross profit margin up to 42.1% from the previous year's 34.1%. Adjusted net loss narrowed by 64.8% YoY to RMB 158.1 million. Notably, Yidu Tech achieved its first full-year profit on an adjusted EBITDA basis, with a profit of RMB 31.1 million, attributed to its 'Focus' strategy. Operating cash outflow improved, decreasing to RMB 230 million. Renowned sovereign fund BIA increased its shareholding by 21.50% in the past two months. The company continues to invest in AI technology, especially in large language models for the medical field, enhancing its YiduCore 'AI Medical Brain'. Three major business segments—Big Data Platform and Solutions, Life Sciences Solutions, and Health Management Platform—showed strong revenue growth and improved margins. Yidu Tech aims for long-term growth and increased returns for shareholders.
Yidu Tech Inc. (HKEx: 2158) reported its interim results for the six months ending September 30, 2022, showing resilience amidst challenges. Total revenue reached RMB 474.4 million, while the adjusted net loss narrowed to RMB 224.8 million, a 30.3% improvement year-on-year. Operating expenses as a percentage of revenue decreased significantly by 32.1 percentage points. The company continues to enhance profitability through strategic focus on digital applications in healthcare, targeting key disease areas and enhancing customer experience, positioning itself for future growth.
Yidu Tech reported strong annual results for FY2022, achieving RMB1,237 million in total revenue, a 42.7% YoY increase, and a gross profit of RMB399 million, up 22.0% YoY. The Big Data Platform segment generated RMB445 million in revenue (10.7% growth), while Life Sciences Solutions surged to RMB359 million (95.0% growth). The Health Management Platform rose to RMB425 million, reflecting a 68.5% increase. Yidu Tech aims to enhance healthcare accessibility and capitalize on the projected growth of the healthcare intelligence industry, expected to exceed RMB1.1 trillion by 2030.
The World Economic Forum Annual Meeting 2022 in Davos featured Yidu Tech's Chairlady, Gong Rujing, discussing China's economic outlook and healthcare digitalization. Participants, including global economic leaders, expressed confidence in China's growth. Gong highlighted the acceleration of digital transformation in healthcare, emphasizing its role in new drug R&D and addressing aging population challenges. With over 260 million elderly, the need for innovative healthcare solutions is pressing. Yidu Tech's expertise in healthcare intelligence positions it well for future growth in China's evolving digital economy.
Yidu Tech announced its audited financial results for FY2021, reporting a 55.4% increase in total revenue to RMB867 million. Key segments saw significant growth: Health Management Solutions surged 353.1% to RMB252 million, Life Sciences Solutions rose 79.3% to RMB184 million, and Big Data Solutions increased 8.1% to RMB402 million. Gross profit jumped 123.4% to RMB327 million, with an improved gross margin of 37.8%. The company also narrowed its non-IFRS adjusted net loss by 14.7% to RMB275 million.
