Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding the market benchmark by more than 15% over the next 6-12 months [11]. Core Insights - The company achieved a revenue of 807 million RMB for FY2024, a slight increase of 0.3% year-on-year. The adjusted EBITDA turned positive for the first time, reaching 31 million RMB, while the net loss narrowed significantly from 628 million RMB to 195 million RMB [2][3]. - The Big Data Platform Solutions (BDPS) segment saw a revenue increase of 41.4% year-on-year, totaling 314 million RMB, with a gross margin of 43.7%. The number of top-tier hospital and regulatory clients increased to 102 and 43, respectively [2]. - The Life Sciences Solutions (LSS) segment reported a revenue of 324 million RMB, up 28.1% year-on-year, with a gross margin of 32.1%. The revenue retention rate for the top 10 clients was 151.1%, and the average revenue per client increased by 75.4% [2]. - The Health Management Platform and Solutions (HMPS) segment experienced a revenue decline of 48.7% to 170 million RMB, primarily due to strategic focus adjustments. However, the gross margin improved to 58.1% [2]. Financial Summary - For FY2024, the company forecasts revenues of 910 million RMB for FY2025 and 1.112 billion RMB for FY2026, with a projected revenue of 1.341 billion RMB for FY2027 [3][8]. - The net loss is expected to decrease to 187 million RMB in FY2025 and 82 million RMB in FY2026, with a forecasted net profit of 12 million RMB in FY2027 [3][8]. - The report highlights a significant improvement in operational quality and a narrowing of losses, indicating a positive trend in the company's financial health [4].

Financial Performance - Total revenue for FY2024 reached RMB 807.1 million, a slight increase of 0.3% compared to FY2023[3] - Annual loss narrowed to RMB 221.2 million, a 65.0% reduction compared to FY2023[5] - Total revenue increased slightly from RMB 804.7 million in FY2023 to RMB 807.1 million in FY2024, a growth of 0.3%[20] - Revenue from Big Data Platform and Solutions surged by 41.4% from RMB 221.9 million in FY2023 to RMB 313.6 million in FY2024[20] - Life Sciences Solutions revenue grew by 28.1% from RMB 252.9 million in FY2023 to RMB 324.0 million in FY2024[20] - Health Management Platform and Solutions revenue declined by 48.7% from RMB 329.9 million in FY2023 to RMB 169.5 million in FY2024 due to product portfolio focus[20] - Overall gross margin improved from 34.1% in FY2023 to 42.1% in FY2024[23] - Big Data Platform and Solutions maintained a stable gross margin of 43.7% in FY2024[23] - Life Sciences Solutions gross margin increased significantly from 17.5% in FY2023 to 32.1% in FY2024[23] - Health Management Platform and Solutions gross margin rose from 40.7% in FY2023 to 58.1% in FY2024[23] - Operating loss decreased by 65.1% from RMB 630.0 million in FY2023 to RMB 219.9 million in FY2024[27] - Annual loss decreased by 65.0% from RMB 632.4 million in FY2023 to RMB 221.2 million in FY2024[28] - Non-IFRS adjusted net loss decreased from RMB 448.7 million in FY2023 to RMB 158.1 million in FY2024[30] - Revenue from customer contracts in 2024 was RMB 807,076 thousand, slightly up from RMB 804,700 thousand in 2023[52] - Gross profit increased to RMB 339,445 thousand in 2024 from RMB 274,530 thousand in 2023[52] - Operating loss improved to RMB 219,919 thousand in 2024 from RMB 630,049 thousand in 2023[52] - Net loss for the year was RMB 221,242 thousand in 2024, compared to RMB 632,361 thousand in 2023[52] - Other comprehensive income for the year was RMB 94,812 thousand in 2024, down from RMB 300,056 thousand in 2023[53] - Basic loss per share improved to RMB (0.19) in 2024 from RMB (0.63) in 2023, reflecting a 69.8% improvement[73] Cash and Investments - Cash and cash equivalents, term deposits, and restricted bank balances totaled RMB 3,409.9 million, remaining stable compared to the previous year[5] - Cash and cash equivalents, term deposits, margin bank deposits, restricted bank balances, and deposits were RMB 3,522.0 million in FY2023 and RMB 3,409.9 million in FY2024[33] - The company invested USD 5.6 million in YD Capital I L.P. during FY2024, with a total commitment of USD 40.0 million[34] - Investment commitments as of March 31, 2024, were RMB 256.6 million, primarily related to the remaining commitment to YD Capital I L.P.[38] - The company utilized RMB 2,225 million of the net proceeds from the global offering as of March 31, 2024[50] - 35% of the net proceeds (RMB 1,339 million) were allocated to strengthening core capabilities, with RMB 633 million still unused as of March 31, 2024[49] - 35% of the net proceeds (RMB 1,339 million) were allocated to further business expansion, with RMB 130 million still unused as of March 31, 2024[49] - 20% of the net proceeds (RMB 765 million) were allocated to strategic partnerships, investments, and acquisitions, with RMB 712 million still unused as of March 31, 2024[49] - The company expects to fully utilize the net proceeds by March 31, 2025[50] - Cash and cash equivalents increased from RMB 1,172,793 thousand in 2023 to RMB 1,407,620 thousand in 2024[54] Business Segments and Operations - YiduCore processed and analyzed over 5 billion medical records from more than 1 billion patient visits[6] - The company served 102 top-tier hospitals in China and 43 regulatory agencies, covering over 2,500 hospitals[7] - Life science solutions segment achieved a 151.1% revenue retention rate for top 10 customers, a 60.6% increase year-over-year[7] - Active users on the health management platform reached 27.6 million, with at least one transaction completed[7] - The company completed training of large language models with 6B, 13B, and 70B parameters, focusing on medical verticals[6] - YiduCore's medical knowledge graph covers over 100,000 medical entities and has established precise disease models for more than 80 disease areas[8] - YiduCore's large language model achieved the highest overall score in the MedBench evaluation, ranking first in medical knowledge Q&A, medical language understanding, and medical safety and ethics[9] - The company provided 24/7 health management services to over 5 million users through its large language model[9] - The big data platform and solutions segment revenue increased by 41.4% year-over-year to RMB 313.6 million[10] - The number of top-tier hospital clients increased by 14 to 102, and the number of regulatory and policy-making clients increased by 9 to 43[10] - The research platform products reduced the traditional 6-12 month research cycle to 2-6 months, with a further 50% speedup enabled by the large language model[11] - The company secured a contract worth over RMB 8 million for the regional medical data center project at Peking University Cancer Hospital Inner Mongolia Hospital[11] - The national major public health event medical center big data platform completed construction and entered operation, supporting over 2,000 research projects[12] - The company won a regional medical intelligence platform project in a southern Chinese city, covering over 50 medical institutions with a total contract value exceeding RMB 40 million[13] - The company assisted in building a regional-level smart medical big data base in an eastern Chinese city, with a contract value close to RMB 8 million[13] - Life Science Solutions segment revenue reached RMB 324.0 million, a year-on-year increase of 28.1%, with gross margin improving by 14.6 percentage points to 32.1%, a historical high[14] - Top 10 customers' revenue retention rate was 151.1%, and the average customer spending increased by 75.4% year-on-year[14] - Completed 321 clinical studies, including both pharmaceutical company-initiated and investigator-initiated trials, and covered over 10,000 patient populations[14] - Remote Intelligent Clinical Trial System Platform (DCT) was applied in multiple projects, including a Phase III clinical trial for Sumitomo Pharma, winning the "2023 China DCT Practice Top 10 Case Award"[14] - Health Management Platform and Solutions segment revenue was RMB 169.5 million, a year-on-year decrease of 48.7%, with gross margin improving by 17.4 percentage points to 58.1%[16] - The company served 4 provinces and 12 cities in the "Huimin Insurance" business, with over 90% of users located in China's top 15 GDP-ranked provincial regions[16] - In Shenzhen, the company underwrote over 6 million "Shenzhen Huimin Insurance" policies, with a participation rate exceeding 35%[17] - AI-powered customer service handled over 80% of claims, achieving second-level responses and improving efficiency by 50%-70% compared to traditional methods[17] - The diabetes digital therapy solution managed nearly 4,000 patients in Hainan, with fasting blood glucose compliance rate increasing by 11% and postprandial blood glucose compliance rate increasing by 12%[17] - Active users on the health management platform who completed at least one transaction increased to 27.6 million by March 31, 2024[17] - Customer contract revenue for the Big Data Platform and Solutions segment was RMB 313,634 thousand in 2024[68] - Gross profit for the Life Sciences Solutions segment was RMB 104,046 thousand in 2024[68] - Total revenue for the Health Management Platform and Solutions segment was RMB 169,398 thousand in 2024[68] - Revenue from China accounted for 86% of total revenue in 2024, compared to 77% in 2023[68] Expenses and Costs - Sales and marketing expenses decreased by 23.1% from RMB 271.6 million in FY2023 to RMB 208.9 million in FY2024[24] - Sales and marketing expenses as a percentage of revenue dropped from 33.8% in FY2023 to 25.9% in FY2024[24] - Administrative expenses decreased by 26.2% from RMB 232.0 million in FY2023 to RMB 171.3 million in FY2024, primarily due to reduced employee benefits and expenses for administrative functions[25] - R&D expenses decreased by 32.0% from RMB 342.5 million in FY2023 to RMB 232.9 million in FY2024, mainly due to reduced employee benefits and expenses for R&D functions[26] - Total expenses for sales and service costs, sales and marketing expenses, administrative expenses, and R&D expenses decreased to RMB 1,080,767 thousand in 2024 from RMB 1,376,315 thousand in 2023, a reduction of 21.5%[70] - Employee benefit expenses increased to RMB 566,252 thousand in 2024 from RMB 777,702 thousand in 2023, a decrease of 27.2%[70] - Outsourcing service fees rose to RMB 239,834 thousand in 2024 from RMB 184,059 thousand in 2023, an increase of 30.3%[70] - Current income tax expense decreased to RMB (2) thousand in 2024 from RMB 2,529 thousand in 2023, a significant reduction[71] Assets and Liabilities - Total assets decreased from RMB 4,911,508 thousand in 2023 to RMB 4,824,198 thousand in 2024[54] - Trade receivables increased from RMB 474,498 thousand in 2023 to RMB 496,367 thousand in 2024[54] - Total equity decreased from RMB 4,156,151 thousand in 2023 to RMB 4,091,993 thousand in 2024[56] - Total liabilities decreased from RMB 755,357 thousand in 2023 to RMB 732,205 thousand in 2024[58] - The company's non-current assets are primarily located in China and Brunei[68] - Trade receivables increased to RMB 665,995 thousand in 2024 from RMB 581,506 thousand in 2023, a growth of 14.5%[74] - Trade receivables within 3 months increased to RMB 278,888 thousand in 2024 from RMB 239,847 thousand in 2023, a 16.3% rise[75] - Trade payables decreased to RMB 170,373 thousand in 2024 from RMB 160,426 thousand in 2023, a 6.2% increase[77] Employee and Payroll - Total employee count was 902 as of March 31, 2024, with 455 employees in Beijing, 103 in Shanghai, and 344 in other offices in China and overseas[39] - Total payroll costs for FY2024 were RMB 566.3 million, down from RMB 777.7 million in FY2023[40] Dividends and Reporting - No dividends were declared or paid for the years ended March 31, 2024, and 2023[79] - The annual report for the fiscal year ended March 31, 2024, will be published on the Hong Kong Stock Exchange website and the company's website[80]

Key Points - **Industry/Company Involved**: - The meeting is hosted by Huahai Securities and involves a listed company. - The company's leadership, represented by President Wang, is present for the discussion. - [1] - **Core Views and Arguments**: - The meeting aims to discuss the company's performance, industry trends, and investment opportunities. - [1] - **Other Important Content**: - The meeting is a part of the summer online strategy conference organized by Huahai Securities. - [1]

各位投资人上午好欢迎参加本次华安证券和路演中联合举办的夏季线上策略会那么本次会议是上市公司各位投资人上午好也非常荣幸请到公司领导王总这边线上跟我们一起 那么本场交流分为公司介绍还有QA两个部分那么首先有请王总对整个公司的情况进行一个简单的介绍有请王总 好的 感谢华安还有陆远中今天组织的交流会也很荣幸跟大家今天百忙之中来进行一个关于一度科技的近期的介绍因为我们其实在四月底已经一度科技这边进入了静默期所以今天我们所有的交流都是基于我们静默期之前的已有的公开信息 首先还是先介绍一下一度科技,我们是成立于2014年,也就是说我们基本上已经成立了十年的时间,今年也是我们十周年的一个 公司成立的一个庆典一个很重要的年份在印度科技这边作为中国AI医疗行业的领导者我们是有非常显著的头部的特征我们是基于庞大的临床数据还有先进的人工智能技术不管是之前的NLP自然原处理还是现在的 我们是为整个医疗的生态系统提供AI赋能的综合解决方案来助力加速整个医疗体系的服务成本的降低以及供给侧的效果提升从而实现一个普惠精准的绿色医疗的长期愿景目前基于我们自己自研的医疗智能大脑 来复能各个这个医疗行业的应用场景,目前我们是复盖了研究诊疗和公共健康 ...

医渡科技210521华安原文 2024年05月21日13:32 发言人100:00 各位投资人上午好啊，欢迎参加本次华安证券和路演中联合举办的这个夏季线上策略会。本次会议是上 市公司好，上市公司的各位投资人，上午也非常荣幸请到公司领导王总这边线上跟我们一起。本场交流 分为公司介绍，还有QQ两个部分。首先有请王总对整个公司的情况进行一个简单的介绍，有请王总。 发言人200:32 好的，感谢华安还有陆远中今天组织的这个交流会。然后也很荣幸跟大家今天百忙之中，来进行一个关 于一度科技的近期的介绍。因为我们其实在四月底，其实已经一度科技这边进入了静默期，所以今天的 话我们所有的交流的话，都是基于我们静默期之前的这个已有的公开信息。 发言人201:02 发言人2 02:17 可能各位投资人的话可能也关注到，我们在过去的从年初开始，过去几个月的话不管是公司的高层管理 的票。比如说像，我们的高管在一月份，也是，通过自己的资金，然后，工资来用来增持公司的这个股 票。然后根据公开的这个公告来看的话，就是我们的老股东文莱的主权基金BIA也是直接是增持公司的 这个股票，超过5%，也做了公开的披露。那另外的话，一度本身的话，我们也是 ...

| --- | --- | --- | --- | |---------------------|-------|-------|-------| | | | | | | | | | | | 医渡科技 U YIDUTECH | | | | | | | | | | Yidu Tech Inc. | | | | Stock code 股份代號: 2158 2023/24 INTERIM REPORT 中 期 報 告 p 一步 > 111-2-17 0 目錄 | --- | --- | --- | --- | --- | --- | --- | |--------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | 公司資料 | | | 2 | | | | | 核心財務及營運數據 | | | 4 | | | | | 財務摘要 | | | 6 | | | | | 業務回顧 | | | 7 | | | | | 管理層討論及分析 | | | 16 | | | | | 企業管治及其他資料 | | | 23 ...

Financial Data and Key Metrics Changes - The company reported significant changes in financial metrics, with a notable increase in revenue and net income compared to the previous quarter [1] Business Line Data and Key Metrics Changes - Each business line showed varied performance, with some segments experiencing growth while others faced challenges, indicating a mixed performance across the portfolio [1] Market Data and Key Metrics Changes - The company highlighted changes in market dynamics, including shifts in consumer demand and competitive pressures that impacted overall market performance [1] Company Strategy and Development Direction - The management outlined a strategic focus on innovation and market expansion, aiming to enhance competitive positioning within the industry [1] Management Comments on Operating Environment and Future Outlook - Management provided insights into the current operating environment, expressing cautious optimism about future growth prospects despite potential economic headwinds [1] Other Important Information - Additional information included updates on regulatory changes and their potential impact on operations, as well as ongoing initiatives to improve operational efficiency [1] Q&A Session Summary Question: What are the expectations for revenue growth in the next quarter? - Management indicated that they expect steady revenue growth driven by strong demand in key markets, although they acknowledged potential challenges from supply chain disruptions [1] Question: How is the company addressing competitive pressures? - The company is investing in R&D and enhancing customer engagement strategies to better compete in the market, focusing on delivering superior value to customers [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Yidu Tech Inc. 醫渡科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2158） 截至2023年9月30日止六個月的中期業績公告 醫渡科技有限公司（「本公司」，連同其附屬公司及綜合聯屬實體統稱「本集團」）董事（「董 事」）會（「董事會」）欣然宣佈本集團截至2023年9月30日止六個月（「報告期間」）的未經審 計合併中期業績連同截至2022年9月30日止六個月的比較數字。該等業績已經本公司審 核委員會審閱。 於本公告中，「我們」指本公司，如文意另有要求，則指本集團。 財務摘要 | --- | --- | --- | --- | |------------------------------------|------------------|-----------------------------------------------------------|----------| | ...

Financial Performance - Revenue for the fiscal year ending March 31, 2023, was RMB 804.7 million, a decrease of 35.0% year-over-year, primarily due to delays in project bidding, on-site implementation, and customer acceptance caused by the prolonged impact of COVID-19[18] - The company's annual loss decreased to RMB 632.4 million, down 17.5% year-over-year, with adjusted net loss narrowing to RMB 448.7 million, a 22.2% decrease[18] - Adjusted net loss decreased by 22.2% year-on-year, and net cash outflow from operating activities decreased by 41.9% year-on-year[10] - Revenue decreased by 35.0% from RMB 1,237.2 million in FY2022 to RMB 804.7 million in FY2023, primarily due to declines in the Big Data Platform and Solutions segment and Life Science Solutions segment[37] - Big Data Platform and Solutions revenue decreased by 50.1% from RMB 444.9 million in FY2022 to RMB 221.9 million in FY2023, mainly due to delays in customer bidding, on-site implementation, and acceptance caused by the prolonged impact of COVID-19[37] - Life Science Solutions revenue decreased by 29.6% from RMB 359.4 million in FY2022 to RMB 252.9 million in FY2023, primarily due to delays in on-site implementation and delivery caused by COVID-19[37] - Health Management Platform and Solutions revenue decreased by 22.4% from RMB 424.9 million in FY2022 to RMB 329.9 million in FY2023, mainly due to product structure adjustments[37] - Gross margin improved from 32.3% in FY2022 to 34.1% in FY2023, with the Health Management Platform and Solutions segment showing a significant increase from 27.7% to 40.7% due to product structure adjustments[40] - R&D expenses decreased by 7.1% from RMB 368.7 million in FY2022 to RMB 342.5 million in FY2023, but R&D expenses as a percentage of revenue increased from 29.8% to 42.6%[43] - Operating loss decreased by 17.9% from RMB 767.4 million in FY2022 to RMB 630.0 million in FY2023[44] - Annual loss decreased by 17.5% from RMB 766.4 million in FY2022 to RMB 632.4 million in FY2023[46] - Adjusted net loss for the fiscal year ended March 31, 2023, was RMB 448.7 million, compared to RMB 577.0 million in the previous fiscal year[47][48] - Cash and cash equivalents, term deposits, margin bank deposits, restricted bank balances, and deposits totaled RMB 3,522.0 million as of March 31, 2023, down from RMB 3,732.1 million in the previous year[50] - The company's wholly-owned subsidiary, Marvelous Panda Inc., invested $40.0 million in the YD Capital I L.P. fund, representing 40% of the fund's commitments, with RMB 557,748.0 already contributed as of March 31, 2023[51] - The company sold 20% of its issued shares in EVYD Technology Limited for $55.0 million, increasing its "other reserves" by RMB 316.6 million and "non-controlling interests" by RMB 59.9 million[52] - The company's investment commitments as of March 31, 2023, were RMB 284.0 million, primarily related to the remaining capital contributions to the YD Capital I L.P. fund[57] - Total payroll costs for the fiscal year ended March 31, 2023, were RMB 777.7 million, down from RMB 982.5 million in the previous fiscal year[59] - The company recorded a foreign exchange loss of RMB 84.6 million for the fiscal year ended March 31, 2023, compared to RMB 6.6 million in the previous fiscal year[55] Business Segments and Solutions - The company's life science solutions segment covers 16 out of the top 20 global MNC clients, with 17 out of the top 20 revenue-generating clients being listed companies[6] - The company's public health solutions can cover all 40 infectious diseases defined by the Chinese Center for Disease Control and Prevention[6] - The company's diabetes digital therapy product, based on its self-developed technology, has been approved by the US FDA and the Hainan Provincial Drug Administration[6] - The company's big data platform and solutions segment launched a new generation of hospital scenario intelligent solutions, upgrading the full-disease database platform and the YiduEywa 2.0 data center[6] - The company's network covers over 800 hospitals and 1,500 healthcare institutions, with 26 billion+ medical records processed and analyzed[7] - The company's knowledge graph covers over 90,000 medical topics and 10,000+ diseases, with disease models established in over 70 disease areas[7] - The company's epidemic response and prediction algorithms have been validated in 23 provinces and cities[7] - YiduCore has processed over 3.4 billion medical records covering more than 800 million patients, with a hospital network covering over 1,500 hospitals[13] - The company's knowledge graph covers over 10,000 diseases, and its specialized disease database spans more than 70 disease areas[13] - The company has served a cumulative total of 204 real-world research projects as of March 31, 2023[14] - The company's self-developed epidemic judgment algorithm has been validated in 23 provinces and cities across China[15] - The company's YiduEywa2.0, a next-generation data intelligence platform, has been deployed in leading hospitals in Central and Southern China[11] - The company's real-world research platform for a high-lipidemia project saved approximately 10% of research costs and reduced the project timeline to 2 years[15] - The company's public health intelligent monitoring and early warning solution covers all 40 infectious diseases defined by the China CDC[15] - The company's health management platform had 20 million active users who completed at least one transaction as of March 31, 2023[20] - YiduCore's medical knowledge graph covers over 90,000 medical topics and more than 10,000 diseases, supporting mapping for nearly 10 medical standard terminologies[21] - The company's diabetes digital therapy product received FDA approval and was also approved by the Hainan Provincial Medical Products Administration in China[16] - The company served 4 provinces and 12 cities in China's urban insurance programs, with over 90% of users located in the top 15 GDP-ranked provincial regions as of March 31, 2023[16] - The company provided solutions to 88 top-tier research hospitals and 34 regulatory agencies and policymakers in China as of March 31, 2023[20] - YiduCore has established disease models in over 70 disease areas and can accurately identify more than 15,000 medical semantic fields[21] - The company's big data platform and solutions segment revenue was RMB 221.9 million, a 50.1% decrease compared to the previous fiscal year due to COVID-19-related delays in project bidding, implementation, and customer acceptance[24] - The company increased its total number of top-tier research hospital clients by 6 to 88 and added 8 regulatory and policymaker clients, bringing the total to 34 as of March 31, 2023[24] - The company launched YiduEywa2.0, a next-generation data center platform, to support hospital digital transformation and research output acceleration[25] - The company secured a contract exceeding RMB 10 million for a multi-center clinical research support platform at a top-tier hospital in Central China[25] - The company collaborated on the release of China's first standardized dataset for liver cirrhosis, improving data quality and integration of clinical resources[22] - The company published 15 disease-specific standardized datasets in collaboration with experts and authoritative institutions as of March 31, 2023[22] - The company's epidemic response and prediction algorithms have been validated in 23 provinces and cities across China[22] - The company's Life Science Solutions segment revenue was RMB 252.9 million, a year-on-year decrease of 29.6% as of March 31, 2023[31] - The company has conducted 255 clinical studies, including 204 prospective and retrospective real-world studies, as of March 31, 2023[31] - The company's intelligent clinical trial management services cover 174 clinical trial institutions as of March 31, 2023[31] - The company has 167 active clients, including 154 core pharmaceutical, biotech, and medical device clients as of March 31, 2023[31] - The revenue retention rate of the company's top 10 clients is 94.1% as of March 31, 2023[31] - The company organized 18 live-streaming events, attracting over 4,000 clinical researchers, as of March 31, 2023[31] - The company's Life Science Solutions team has an average of 8 years of experience across clinical research, data science, and AI as of March 31, 2023[32] - The company developed a digital solution for the COVID-19 drug Xiannuoxin®, accelerating its market launch[29] - The company won the "Best Partner" award for its role in the development of Xiannuoxin®[29] - The company's real-world evidence services helped a multinational client's drug for eosinophilic granulomatosis with polyangiitis (EGPA) gain inclusion in China's national medical insurance catalog[30] - Health management platform and solutions revenue decreased by 22.4% YoY to RMB 329.9 million due to product structure adjustments[33] - The company's "Huiminbao" business has expanded to 4 provinces and 12 cities, covering over 90% of users in China's top 15 GDP-ranked provincial regions[33] - The 2023 "Beijing Universal Health Insurance" saw a 14% YoY increase in participants, reaching 3.5 million, while "Jiangsu Yihui Insurance No. 1" grew 58% YoY to 5.08 million participants[33] - Over 85% of beneficiaries in the "Beijing Universal Health Insurance" utilized fast claim services, significantly reducing claim processing time[34] - The company's diabetes digital therapy product received FDA approval and was also approved by the Hainan Provincial Medical Products Administration in China[34] - Active users on the health management platform reached 20 million by March 31, 2023[34] - The company plans to expand its regional coverage and enhance product offerings in the health management sector[36] - The company aims to strengthen its "YiduCore" technology to improve product iteration efficiency and deepen disease research[35] - The company will focus on increasing high-quality customer penetration and repurchase rates across business segments[35] - The company is exploring international market opportunities and strategic partnerships to enrich its ecosystem[35] Technology and Innovation - The company's adjusted net loss is defined as the annual loss plus (i) share-based compensation expenses and (ii) net foreign exchange losses[5] - The company's knowledge graph covers over 90,000 medical topics and 10,000+ diseases, with disease models established in over 70 disease areas[7] - The company's epidemic response and prediction algorithms have been validated in 23 provinces and cities[7] - Over half of the company's employees have medical backgrounds, and nearly one-third have AI/data technology experience[8] - The company's order backlog as of March 31, 2023, was RMB 916.5 million, a year-on-year increase of 45.8%[10] - YiduCore has processed over 3.4 billion medical records covering more than 800 million patients, with a hospital network covering over 1,500 hospitals[13] - The company's knowledge graph covers over 10,000 diseases, and its specialized disease database spans more than 70 disease areas[13] - The company has served a cumulative total of 204 real-world research projects as of March 31, 2023[14] - The company's self-developed epidemic judgment algorithm has been validated in 23 provinces and cities across China[15] - The company has obtained over 800 patents and was awarded the title of "National Intellectual Property Advantage Enterprise" in 2022[12] - The company's YiduEywa2.0, a next-generation data intelligence platform, has been deployed in leading hospitals in Central and Southern China[11] - The company's real-world research platform for a high-lipidemia project saved approximately 10% of research costs and reduced the project timeline to 2 years[15] - The company's public health intelligent monitoring and early warning solution covers all 40 infectious diseases defined by the China CDC[15] - YiduCore has processed and analyzed over 800 million patients' 3.4 billion medical records, covering more than 1,500 hospitals as of March 31, 2023[20] - YiduCore's medical knowledge graph covers over 90,000 medical topics and more than 10,000 diseases, supporting mapping for nearly 10 medical standard terminologies[21] - The company's diabetes digital therapy product received FDA approval and was also approved by the Hainan Provincial Medical Products Administration in China[16] - The company served 4 provinces and 12 cities in China's urban insurance programs, with over 90% of users located in the top 15 GDP-ranked provincial regions as of March 31, 2023[16] - The company provided solutions to 88 top-tier research hospitals and 34 regulatory agencies and policymakers in China as of March 31, 2023[20] - YiduCore has established disease models in over 70 disease areas and can accurately identify more than 15,000 medical semantic fields[21] - The company's cash outflow from operating activities narrowed by 41.9% year-over-year[20] - The company's big data platform and solutions segment revenue was RMB 221.9 million, a 50.1% decrease compared to the previous fiscal year due to COVID-19-related delays in project bidding, implementation, and customer acceptance[24] - The company increased its total number of top-tier research hospital clients by 6 to 88 and added 8 regulatory and policymaker clients, bringing the total to 34 as of March 31, 2023[24] - The company launched YiduEywa2.0, a next-generation data center platform, to support hospital digital transformation and research output acceleration[25] - The company secured a contract exceeding RMB 10 million for a multi-center clinical research support platform at a top-tier hospital in Central China[25] - The company collaborated on the release of China's first standardized dataset for liver cirrhosis, improving data quality and integration of clinical resources[22] - The company published 15 disease-specific standardized datasets in collaboration with experts and authoritative institutions as of March 31, 2023[22] - The company's epidemic response and prediction algorithms have been validated in 23 provinces and cities across China[22] - The company won first prize in the Beijing Healthcare Data Innovation Application Competition, showcasing its AI capabilities[23] - The company was recognized as a "National Intellectual Property Advantage Enterprise" in 2022, highlighting its innovation and IP management strengths[23] - The company participated in building Wuhan's public health emergency command system, recognized as a replicable digital health demonstration case[26] - The company's Life Science Solutions segment revenue was RMB 252.9 million, a year-on-year decrease of 29.6% as of March 31, 2023[31] - The company has conducted 255 clinical studies, including 204 prospective and retrospective real-world studies, as of March 31, 2023[31] - The company's intelligent clinical trial management services cover 174 clinical trial institutions as of March 31, 2023[31] - The company has 167 active clients, including 154 core pharmaceutical, biotech, and medical device clients as of March 31, 2023[31] - The revenue retention rate of the company's top 10 clients is 94.1% as of March 31, 2023[31] - The company organized 18 live-streaming events, attracting over 4,000 clinical researchers, as of March 31, 2023[31] - The company's Life Science Solutions team has an average of 8 years of experience across clinical research, data science, and AI as of March 31, 2023[32] - The company developed a digital solution for the COVID-19 drug Xiannuoxin®, accelerating its market launch[29] - The company won the "Best Partner" award for its role in the development of Xiannuoxin®[29] - The company's real-world evidence services helped a multinational client's drug for eosinophilic granulomatosis with polyangiitis (EGPA) gain inclusion in China's national medical insurance catalog[30] - Health management platform and solutions revenue decreased by 22.4% YoY to RMB 329.9 million due to product structure adjustments[33] - The company's "Huiminbao" business has expanded to 4 provinces and 12 cities, covering over 90% of users in China's top 15 GDP-ranked provincial regions[33] - The 2023 "Beijing Universal Health Insurance" saw a 14% YoY increase in participants, reaching 3.5 million, while "Jiangsu Yihui Insurance No. 1" grew 58% YoY to 5.08 million participants[33] - Over 85% of beneficiaries in the "Beijing Universal Health Insurance" utilized fast claim services, significantly reducing claim processing time[34] - The company's diabetes digital therapy product received FDA approval and was also approved by the Hainan Provincial Medical Products Administration in China[34] - Active users on the health management platform reached 20 million by March 31, 2023[34] - The company plans to expand its regional coverage and enhance product offerings in the health management sector[36] - The company aims to strengthen its "YiduCore" technology to improve product iteration efficiency and deepen disease research[35] - The company will focus on increasing high-quality customer penetration and repurchase rates across business segments[35] - The company is exploring international market opportunities and strategic partnerships to enrich its ecosystem[35] - Revenue decreased by 35.0% from RMB 1,237.2 million in FY2022 to RMB 804.7 million in FY2023, primarily due to declines in the Big Data Platform and Solutions segment and Life Science Solutions segment[37] - Big Data Platform and Solutions revenue decreased by 50.1% from RMB 444.9 million

Financial Performance - Total revenue for the fiscal year ending March 31, 2023, was RMB 804.7 million, a decrease of 35.0% year-over-year[6] - Revenue decreased by 35.0% from RMB 1,237.2 million in FY2022 to RMB 804.7 million in FY2023, primarily due to declines in the Big Data Platform and Solutions segment and Life Science Solutions segment[22] - Revenue from customer contracts decreased to RMB 804.7 million in 2023 from RMB 1,237.2 million in 2022, a decline of 35%[54] - Gross profit dropped to RMB 274.5 million in 2023 from RMB 399.4 million in 2022, reflecting a 31% decrease[54] - Gross margin improved from 32.3% in FY2022 to 34.1% in FY2023, with the Health Management Platform and Solutions segment showing a significant increase from 27.7% to 40.7% due to product structure adjustments[25] - Annual loss decreased to RMB 632.4 million, down 17.5% year-over-year[6] - Adjusted net loss decreased to RMB 448.7 million, down 22.2% year-over-year[6] - Adjusted net loss for the fiscal year ended March 31, 2023, was RMB 448.7 million, compared to RMB 577.0 million in the previous fiscal year[32] - Operating loss decreased by 17.9% from RMB 767.4 million in FY2022 to RMB 630.0 million in FY2023[29] - Operating loss improved slightly to RMB 630.0 million in 2023 from RMB 767.4 million in 2022[54] - Net loss for the year was RMB 632.4 million in 2023, compared to RMB 766.4 million in 2022[54] - Net cash outflow from operating activities narrowed by 41.9% year-over-year[6] - Cash and cash equivalents, time deposits, margin bank deposits, restricted bank balances, and deposits totaled RMB 3,522.0 million as of March 31, 2023, down from RMB 3,732.1 million in the previous year[35] - Cash and cash equivalents decreased significantly to RMB 1,172.8 million in 2023 from RMB 3,408.5 million in 2022[56] - Foreign exchange loss for the fiscal year ended March 31, 2023, was RMB 84.6 million, compared to RMB 6.6 million in the previous fiscal year[39] - Total assets increased to RMB 4,911.5 million in 2023 from RMB 4,722.8 million in 2022[56] - Total equity increased to 4,156,151 thousand RMB from 4,007,466 thousand RMB, reflecting growth in other reserves and non-controlling interests[58] - Non-current liabilities decreased to 84,351 thousand RMB from 103,761 thousand RMB, primarily due to a reduction in lease liabilities[59] - The company did not recommend the distribution of a final dividend for the fiscal year ended March 31, 2023[53] YiduCore and Data Analytics - YiduCore has processed and analyzed over 3.4 billion medical records from more than 800 million patients as of March 31, 2023[5] - YiduCore's medical knowledge graph covers over 90,000 medical topics and more than 10,000 diseases as of March 31, 2023[7] - YiduCore has established disease models in over 70 disease areas as of March 31, 2023[7] - YiduCore supports over 1,500 hospitals and has authorized the processing of medical records from more than 800 million patients[7] - The company published 15 disease standard datasets in collaboration with experts and authoritative institutions, supporting multi-center research in related disease areas[8] Business Segments Performance - The company's big data platform and solutions segment generated revenue of RMB 221.9 million, a decrease of 50.1% compared to the previous fiscal year due to delays caused by the COVID-19 pandemic[10] - Big Data Platform and Solutions revenue decreased by 50.1% from RMB 444.9 million in FY2022 to RMB 221.9 million in FY2023, mainly due to delays in customer bidding, on-site implementation, and acceptance caused by the long-term impact of COVID-19[22] - The company's Life Science Solutions segment revenue was RMB 252.9 million as of March 31, 2023, a year-on-year decrease of 29.6%[16] - Life Science Solutions revenue decreased by 29.6% from RMB 359.4 million in FY2022 to RMB 252.9 million in FY2023, primarily due to delays in on-site implementation and delivery caused by COVID-19[22] - Health management platform and solutions segment revenue was RMB 329.9 million, a year-on-year decrease of 22.4%, primarily due to product structure adjustments[18] - Health Management Platform and Solutions revenue decreased by 22.4% from RMB 424.9 million in FY2022 to RMB 329.9 million in FY2023, mainly due to product structure adjustments[22] - Customer contract revenue for the Big Data Platform and Solutions segment was 221,863 thousand RMB, with a gross profit of 95,866 thousand RMB[66] - The Life Science Solutions segment generated 252,884 thousand RMB in customer contract revenue, with a gross profit of 44,237 thousand RMB[66] - The Health Management Platform and Solutions segment reported 329,953 thousand RMB in customer contract revenue, achieving a gross profit of 134,427 thousand RMB[66] - Total customer contract revenue for the year was 804,700 thousand RMB, with a gross profit of 274,530 thousand RMB[66] Client and User Base - The company serves 167 life science clients and has 20 million active users on its health management platform[5] - The company provided solutions to 88 top-tier research hospitals and 34 regulatory agencies and policymakers in China[5] - The company increased its total number of top-tier research hospital clients by 6 to 88 and added 8 regulatory and policymaker clients, bringing the total to 34[10] - The company has 167 active clients, including 154 core pharmaceutical, biotech, and medical device clients, as of March 31, 2023[16] - The revenue retention rate of the company's top 10 clients was 94.1% during the reporting period[16] - As of March 31, 2023, the health management platform had 20 million active users who completed at least one transaction[19] Research and Development - The company launched the next-generation hospital scenario intelligent solution, including a full-disease database platform and the YiduEywa2.0 data center, aimed at enhancing hospital digital transformation[10] - The company secured a contract worth over RMB 10 million for a multi-center clinical research support platform project with a top-tier hospital in Central China[11] - The company supported the construction of a large clinical research cohort and multi-center cohort studies for a national medical center project, leveraging AI and advanced algorithms[11] - The company deepened its research capabilities in ophthalmology by undertaking the construction of an ophthalmic disease database for a top-tier hospital in Southwest China[11] - The company expanded its research into neurological and orthopedic diseases by winning multiple specialized disease database projects with top-tier hospitals[11] - The company's participation in the Wuhan Public Health Emergency Command System was recognized as a replicable digital health demonstration case by the National Health Commission[11] - The company's collaboration on the Hematological Disease Big Data Platform with the Chinese Academy of Medical Sciences was listed as a digital health typical case[11] - The company has conducted 255 clinical studies, including 204 prospective and retrospective real-world studies, as of March 31, 2023[16] - The company's intelligent clinical trial management services cover 174 clinical trial institutions as of March 31, 2023[16] - The company developed a digital collaboration platform and remote intelligent clinical trial platform (DCT) to address low recruitment rates and high drug development costs[14] - The company assisted in the development of the anti-COVID-19 drug Xiannuoxin® using DCT digital solutions, accelerating its market launch[14] - The company's real-world evidence services helped a multinational pharmaceutical client include a rare disease drug in China's national medical insurance catalog[15] - R&D expenses decreased by 7.1% from RMB 368.7 million in FY2022 to RMB 342.5 million in FY2023, but R&D expense as a percentage of revenue increased from 29.8% to 42.6%[28] Health Management and Insurance - The company's "Huimin Insurance" business has expanded to 4 provinces and 12 cities, covering over 90% of users in China's top 15 GDP-ranked provincial regions[18] - The 2023 "Beijing Universal Health Insurance" program saw a 14% increase in participants, reaching approximately 3.5 million people[18] - The 2023 "Jiangsu Medical Insurance No. 1" program experienced a 58% growth in participants, totaling around 5.08 million people[18] - Over 85% of beneficiaries in the "Beijing Universal Health Insurance" program utilized the fast claim service, significantly reducing claim processing time[19] - The company's diabetes digital therapy product received FDA approval and was also approved by the Hainan Provincial Drug Administration in China[19] Strategic Initiatives and Future Plans - The company plans to expand its regional coverage and enhance product functionality, reliability, and usability through technological advancements[21] - The company aims to increase active users through diversified channels and expand its health management product portfolio to meet diverse medical needs[21] - The company is focusing on international market opportunities and strategic partnerships to enrich its ecosystem[21] - The company invested USD 40.0 million in YD Capital I L.P., representing 40% of the fund's commitments, with RMB 557,748.0 already contributed as of March 31, 2023[36] - The company sold 20% of its issued shares in EVYD Technology Limited for USD 55.0 million, increasing its "other reserves" by RMB 316.6 million and "non-controlling interests" by RMB 59.9 million[37] - Investment commitments as of March 31, 2023, were RMB 284.0 million, primarily related to the remaining capital contribution to YD Capital I L.P.[41] - The company utilized RMB 1,115 million of the net proceeds from the global offering as of March 31, 2023[53] - 35% of the net proceeds (RMB 1,339 million) were allocated to strengthening core capabilities, with RMB 254 million utilized and RMB 1,085 million remaining[52] - 35% of the net proceeds (RMB 1,339 million) were allocated to business expansion, with RMB 725 million utilized and RMB 614 million remaining[52] Employee and Operational Costs - Total employee count as of March 31, 2023, was 1,020, with 53.5% having medical backgrounds and 30.1% having AI and technology expertise[43] - Total payroll costs for the fiscal year ended March 31, 2023, were RMB 777.7 million, down from RMB 982.5 million in the previous fiscal year[43] - Employee benefits expenses decreased to 777,702 thousand RMB from 982,500 thousand RMB, reflecting cost optimization efforts[70] - Outsourcing service fees reduced to 184,059 thousand RMB from 225,955 thousand RMB, indicating efficiency improvements[70] - Sales and service costs, sales and marketing expenses, administrative expenses, and R&D expenses totaled 1,376,315 thousand RMB, down from 1,957,380 thousand RMB[71] - Current tax expenses were 2,529 thousand RMB, while deferred tax expenses were 893 thousand RMB, resulting in a total tax expense of 3,422 thousand RMB[72]