HONG KONG, Nov. 28, 2022 /PRNewswire/ — Yidu Tech Inc. (“Yidu Tech” or “the Firm”, along with its subsidiaries and consolidated affiliated entities, “the Group”, HKEx: 2158), a number one company in China’s healthcare intelligence business, introduced the interim outcomes for the six months ended 30 September 2022 (“the primary half of FY2023” or “the Reporting Interval”).
Regardless of the difficult and unsure exterior surroundings, the Group remained dedicated to bettering profitability with a strategic focus. The Group continues to concentrate on making use of digital and clever purposes to a number of use-case situations, concentrating on key illness analysis areas resembling stable tumors, hematology, ophthalmology and immunology to additional strengthen its core competence, enhance buyer expertise and enhance clients’ common transaction worth. Through the Reporting Interval, the Group reported a complete income of RMB474.4 million and adjusted web loss narrowed to RMB224.8 million, a lower of 30.3% year-on-year. Complete working expense as a proportion of income decreased by 32.1 proportion factors.
Ms. Gong Yingying (Rujing), Chairlady and Founder, Government Director and Chief Government Officer of Yidu Tech, said, “The Group has taken proactive and efficient measures to boost operational effectivity and has efficiently narrowed its loss and adjusted web loss considerably in the course of the Reporting Interval, which is a testomony to the effectiveness of our enterprise improvement technique. We count on a continued enchancment in operation effectivity going ahead, and we are going to proceed to make progress towards reaching profitability. Yidu Tech will adhere to its authentic imaginative and prescient of ‘inexperienced healthcare’, proceed to boost its core expertise capabilities, and deepen its efforts within the three state of affairs classes of analysis, prognosis and therapy, and public well being, with a view to create extra worth within the healthcare intelligence business.”
Deep cultivation of three main situations with strategic concentrate on aiding commercialization
Through the Reporting Interval, Yidu Tech proactively enhanced its profitability with a strategic concentrate on 4 main areas: enterprise, clients, ailments and group.
By way of enterprise, Yidu Tech continues to concentrate on situations in three main classes, specifically analysis, prognosis and therapy, and public well being. The Firm promotes multi-scenario purposes primarily based on the three classes, reaching scenario-driven optimization of intelligence. Pushed by innovation, the Group constantly upgrades its portfolio of high-quality skilled services and products to satisfy the varied calls for of its core clients.
By way of clients, Yidu Tech focuses on serving core hospitals and core pharmaceutical corporations with excessive income retention. Within the Massive Knowledge Platform and Options (“BDPS”) phase, the Firm upgraded and launched the All Illness Knowledge Platform, which facilitates the DIY creation of illness registries by hospitals. As well as, within the Life Science Options (“LSS”) phase, the income retention charge for the highest 10 shoppers reached 119%.
By way of ailments, in the course of the Reporting Interval, the Group targeting key illness analysis areas together with stable tumors, hematology, ophthalmology and immunology. Relating to group, primarily based on the clever “medical mind” YiduCore and the overlapping purposes of its core capabilities, Yidu Tech continued to boost the synergy among the many three enterprise segments and to extend buyer consciousness. In the meantime, the Group constantly improved the enterprise penetration and inner working effectivity, and continued to cut back the ratio of complete working expense to income in the course of the Reporting Interval, which was introduced down by 32.1 proportion factors year-on-year.
Steady Technological Innovation to Drive the Growth of the Healthcare Intelligence Ecosystem
Guided by the nationwide technique of high-quality improvement pushed by innovation, the “14th 5-Yr Plan” and the “Wholesome China 2030” coverage, China has put in place collection of insurance policies to encourage scenario-driven proprietary innovation. As a number one company within the healthcare intelligence business, Yidu Tech has constantly improved its capabilities in unbiased R&D and innovation, specializing in fixing the ache factors confronted by the healthcare business because it undergoes an clever transformation.
Through the years, Yidu Tech has independently developed YiduCore which consists of algorithms and insightful medical information which are constantly amassed and consistently iterated because the Group expands its use-case situations with correct authorization. Within the first half of FY2023, Yidu Tech continued to speculate assets in cooperation with famend hospitals and consultants, to proceed empowering its skill to construct and enrich a illness labelling system that encompasses varied fields of ailments. As of 30 September 2022, YiduCore’s medical information graph covers over 80,000 medical objects, of which the variety of ailments coated by the illness information graph has exceeded 10,000, a rise of over 1,000 in comparison with six months earlier.
With YiduCore’s robust knowledge processing capabilities and AI algorithms, in addition to its amassed medical information, insights and illness fashions, Yidu Tech has undertaken a complete of 19 scientific analysis initiatives with its companions, together with famend hospitals, regulators and universities, of which 8 are national-level analysis initiatives sponsored by the Ministry of Science and Expertise of China and different nationwide ministries. As of 30 September 2022, the effectiveness and accuracy of its pandemic response and prediction algorithms have been validated in 22 cities.
By way of privateness safety, the Firm participated within the preparation of the Analysis Report on the Software of Privateness Computing (2022) issued by the Institute of Cloud Computing and Massive Knowledge of the China Academy of Info and Communication Expertise (CAICT). As well as, by advantage of its excellent distant operation and upkeep expertise, Yidu Tech obtained the Certificates of Distant Operation and Upkeep Security Functionality Inspection issued by the Web Well being Care Business Alliance and CAICT.
Balanced improvement of three enterprise segments, demonstrating robust enterprise resilience
Through the Reporting Interval, the income of all three enterprise segments maintained a balanced improvement, demonstrating robust enterprise resilience.
The Massive Knowledge Platform and Options phase generated revenues of RMB 124.0 million in the course of the Interval. One side of this phase is Yidu Tech’s provision of AI-based intelligence platforms and knowledge analytics-driven options to regulators and coverage makers. Through the Reporting Interval, the Group led a consortium and received the contract for the Infectious Illness Clever Multi-point Surveillance Early Warning Platform for Beijing. With AI-empowered analytical instruments and top-notch simulation fashions, the Group has expanded its answer choices from public well being to inhabitants well being. Through the Reporting Interval, the Group received the development of regional healthcare profiling for native residents in Chaoyang District, Beijing.
The opposite side of this phase is the Group’s continued effort to deepen its perception into ailments. Within the discipline of hematology, the Group has partnered with two of China’s solely three hematologic ailments Nationwide Medical Analysis Middle (NCRC) hospitals in growing a hematologic illness analysis community to conduct environment friendly medical trials and multi-institutional real-world research. In the meantime, the Group has assisted its shoppers to develop plenty of illness registries and enormous medical analysis cohorts for main hematological ailments, together with leukemia, coagulation issues and aplastic anemia. With the profitable precedented instances in hematology, the Group made breakthroughs within the discipline of dermatology by successful the contract with Institute of Dermatology, Chinese language Academy of Medical Sciences, one in every of China’s high two hospitals within the discipline of dermatology, to construct a illness analysis platform.
The Life Science Options phase achieved income of RMB 146.5 million in the course of the Reporting Interval. With amassed credentials in targeted illness analysis areas, as of 30 September 2022, Yidu Tech has carried out 232 medical analysis trials, together with medical trials sponsored by pharmaceutical corporations and investigator-initiated trials (IIT). The Group has carried out 185 potential and retrospective real-world research. Its Clever Web site Administration Group (iSMO) providers have coated 163 websites, greater than doubling the quantity from final yr. It’s price noting that, in the course of the Reporting Interval, the Group performed a complete retrospective real-world examine which associated to the analysis of the efficacy, security and therapy modalities of a brand new drug for sufferers with advanced stomach infections in ICU for a high 20 multi-national pharmaceutical corporations (MNC) shopper to help it to acquire the approval from the Middle for Drug Analysis, Nationwide Medical Merchandise Administration (CDE).
The rising observe information has enabled the Group to constantly develop the LSS phase and preserve its high-quality buyer base. As of 30 September 2022, there have been 143 lively shoppers. Amongst its high 20 shoppers, there have been 7 MNC and 16 listed corporations.
The income of the Group’s Well being Administration Platform and Options phase amounted to RMB 203.8 million. Leveraging medical insights powered by YiduCore and AI empowerment, Yidu Tech facilitated its clients’ skill to design and develop modern insurance coverage merchandise, enabling sooner and extra correct insurance coverage underwriting and expediting declare processing. Through the Reporting Interval, the Group continued to extend the market penetration of the Hui Min Bao enterprise, serving 3 provinces and 10 cities. Yidu Tech has assisted three of the 4 municipalities straight below the central authorities in China to launch Hui Min Bao merchandise, together with Tianjin, Beijing and Chongqing. As of 30 September 2022, the variety of lively customers who’ve accomplished a minimum of one transaction on Yidu Tech’s well being administration platform reached 15 million.
Moreover, the Group’s superior intelligence applied sciences drastically enhance the working effectivity of Hui Min Bao. As the primary working platform for Jiangsu Hui Min Bao, the Group underwrote greater than 3 million Jiangsu Hui Min Bao insurance policies and roughly 76% of complete declare quantities have been accomplished by the Group’s clever declare settlement providers. In contrast with conventional strategies, the Group’s clever declare settlement providers tripled the productiveness of processing claims, decreasing the monetary burden of the insured and additional encouraging participation.
Because the market chief with the biggest market share within the healthcare intelligence market, the medical establishments and regulatory companies healthcare intelligence market in addition to the rising healthcare intelligence market in China, Yidu Tech is dedicated to contributing to the clever transformation and upgrading of the healthcare business, in addition to the high-quality improvement of the healthcare business. Sooner or later, Yidu Tech will proceed to stick to its two-pronged technique, develop its infrastructure community, deepen its analysis into ailments, preserve its strategic concentrate on enterprise, clients, ailments and group, and contribute to creating the healthcare intelligence ecosystem, upholding its mission to make value-based precision healthcare accessible to everybody and create extra worth for healthcare business individuals.
About Yidu Tech Inc.
Based in 2014, Yidu Tech Inc. (“Yidu Tech”, inventory code: 2158.HK) has been specializing in the event and software of healthcare intelligence since its inception. The Group focuses on fixing the ache factors of clever purposes within the three main healthcare situations of public well being, analysis, and prognosis and therapy, empowering the business by means of healthcare intelligence infrastructure, and selling the development of a secure, accessible, and value-based healthcare system. In January 2021, Yidu Tech was efficiently listed on the Predominant Board of the Hong Kong Inventory Trade.
Yidu Tech primarily operates in three enterprise segments, specifically Massive Knowledge Platform and Options, Life Sciences Options, and Well being Administration Platform and Options, which facilitate medical and medical analysis, well being administration, public well being administration and improvement of modern medication, in addition to help the business in decreasing price and bettering effectivity, with an goal to make value-based precision healthcare accessible to everybody.
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