Yidu Tech Announces Results For The First Half Of FY2023: Adjusted Net Loss Narrowed Down 30.3% YoY, Strategic Focus Enhanced Business Resilience

Yidu Tech Announces Results For The First Half Of FY2023: Adjusted Net Loss Narrowed Down 30.3% YoY, Strategic Focus Enhanced Business Resilience

HONG KONG , Nov. 28, 2022 /PRNewswire/ — Yidu Tech Inc. (“Yidu Tech” or the “Company”, together with its consolidated subsidiaries and affiliates, the “Group”, HKEx: 2158), by China Healthcare Intelligence Industry , 30 September 2022 (“First Half of Fiscal Year 2023” or “Reference period”). He announced the interim results for six months.

Despite the difficult and uncertain external environment, the Group remains committed to improving profitability through a strategic approach. The team is focused on implementing digital and smart applications for multiple uses and continues to focus on key disease research areas such as solid tumors, hematology, ophthalmology and immunology to further strengthen its core capabilities, enhance experience of customers and to increase the average number of customers. . Transactions estimate During the period, the group’s total revenue was RMB 474.4 million and adjusted net loss fell to RMB 24.8 million , down 30.3% year-on-year. Operating expenses as a percentage of sales decreased by 32.1 percent.

Ms. Gong Yingying (Rujing) , CEO and director of Yidu Tech, said: “The group has taken active and effective measures to improve operational efficiency and has been able to overcome the loss and the adjusted net loss has been significantly reduced. It proves . during the period of reference for the effectiveness of our business development strategy. We hope to improve efficiency and continue to progress towards profitability. Yidu Tech will adhere to the original vision of “green health”, improve its core technological capabilities and strengthen efforts. , diagnosis and treatment and the three areas of public health fields to create more value in the health intelligence industry.”

Intensive care of three key stories with a strategic focus on supporting market entry

During this time, Yidu Tech actively improved its profitability by focusing on four main areas: business, customers, diseases and organization.

In terms of business, Yidu Tech continues to focus on three main categories: research, diagnostics, and medical and public health. Based on the three categories, the company introduces multi-scenario applications and performs scenario-based data optimization. Driven by innovation, the group is continuously developing a portfolio of high-quality professional products and services to meet the diverse needs of its key customers.

From a customer perspective, Yidu Tech focuses on revenue retention for large hospitals and large pharmaceutical companies. In the Big Data Platform and Solutions (“BDPS”) segment, the company has developed and launched an all-disease data platform that facilitates the creation of hospital disease registries. Additionally, the revenue retention rate for the top 10 customers in the Life Science Solutions (“LSS”) segment reached 119%.

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In terms of diseases, the group is currently focused on key areas of disease research, including solid tumors, hematology, ophthalmology and immunology. With YiduCore’s intelligent “medical mind” and application-based layered organization, Yidu Tech has enhanced connections between three business sectors and increased customer awareness. At the same time, the group continued to improve business penetration and internal efficiency, reducing its total cost of ownership to revenue ratio by 32.1% year-on-year.

Continuous technological innovation to accelerate the evolution of the Health Intelligence ecosystem

Guided by the national innovation-oriented development strategy for high-quality development, the 14th Five-Year Plan and the “Healthy China 2030” policy, China has implemented policies to promote property innovation based on conditions. As a leader in the health intelligence industry. , Yidu Tech has independent R&D and innovation. He has continuously developed his skills and is focused on meeting the changing intelligence challenges facing the healthcare industry.

Over the years, Yidu Tech has independently developed YiduCor, consisting of intelligent medical algorithms and knowledge, which are constantly being accumulated and iterated as the team expands use cases with proper authorization. In the first half of fiscal year 2023, Yidu Tech continues to invest resources in cooperation with famous hospitals and experts to further strengthen the capacity to build and develop disease identification systems in various disease fields. As of September 30, 2022, Yiducore’s medical knowledge chart includes more than 80,000 medical articles, of which the covered disease chart exceeded 10,000, up from more than 1,000 six months ago.

With YiduCore’s strong data processing capabilities and AI algorithms, as well as accumulated medical knowledge, insights and disease models, Yidu Tech has completed a total of 19 scientific research projects with its partners, including renowned hospitals, organs regulators and universities, 8 of which are Chinese Science and They are in the Ministry of Technology and other national ministries. They are nationally funded research projects. As of September 30, 2022, the efficiency and accuracy of the epidemic response and prediction algorithms have been verified in 22 cities.

Regarding privacy, the company participated in the development of the Research Report on the Application of Information Privacy published by the Institute of Cloud Computing and Big Data of the Chinese Academy of Information, Information and Communication Technology (CAICT) (2022 ). Additionally, Yidu Tech has been certified by the Healthcare Internet Industry Alliance and the CAICT Remote Operation and Maintenance Security Proficiency Test for its superior remote operation and maintenance technology.

Balanced performance across all three business units, indicating strong business resilience

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During the reporting period, the sales of the three business units have developed quite well and have shown great business resilience.

The Big Data Platform and Solutions segment generated revenue of RMB 124.0 million in the period . One aspect of this division is Yidu Tech’s provision of AI-based intelligence platforms and data analytics-based solutions for regulators and policymakers. During the reporting period, the team led a consortium to win a contract for Beijing ‘s multi-point infectious disease surveillance early warning platform. With AI-based analytics tools and sophisticated simulation models, the team has expanded its solution options from public health to public health. At that time, the team built a regional health profile of Beijing ‘s Chaoyang District.

Another aspect of this class is the group’s effort to raise awareness of the disease. In hematology, the team collaborated with two unique hospitals in China ‘s National Clinical Research Center for Hematologic Diseases (NCRC) to build a hematology research network to conduct clinical trials, effective clinical trials, and multi-institutional clinical trials under real-world conditions. At the same time, the group supports its clients by establishing several disease registries and large clinical research groups, covering important blood diseases, including leukemia, hemophilia and aplastic anemia. With previous successful cases in hematology, the team has made advances in the field of dermatology with the Institute of Dermatology, Chinese Academy of Medical Sciences, one of two hospitals in China . He gained research on diseases.

The Life Science Solutions division achieved sales of RMB 146.5 million during the reporting period. Accumulating credentials in disease-related research fields, Yidu Tech has conducted 232 pharmaceutical company-sponsored clinical studies and investigator-initiated research (IIT) as of September 30, 2022 . The team conducted 185 prospective and retrospective studies under real-world conditions. The Smart Site Management Organization (ISMO) service had 163 sites, double the number of last year. During the reference period, it should be noted that the group performed a complete retrospective study in real conditions, in order to evaluate drug efficacy, safety and treatment methods, in 20 ICU patients with complicated intra-abdominal infections. MNC) to assist in obtaining approval from the Center for Drug Evaluation, National Medicinal Products Administration (CDE).

Its growing track record has enabled the team to continuously grow the LSS segment and maintain a high quality customer base. As of September 30, 2022, there were 143 active customers. Among the first 20 clients are 7 to 16 international public companies.

Revenue from the group’s healthcare management platforms and solutions division was RMB 203.8 million . Using medical insights powered by YiduCore and AI, Yidu Tech has facilitated its customers’ ability to design and develop innovative insurance products, enabling faster and more accurate promotion and faster claims settlement. During this period, the team continued to grow Hui Min Bao’s market, serving 3 provinces and 10 cities. Yidu Tech has helped launch Hui Min Bao products in three municipalities directly under the Chinese central government, including Tianjin , Beijing and Chongqing . As of September 30, 2022, the number of active users who have made at least one transaction on Yidu Tech’s health management platform has reached 15 million.

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In addition, the team’s advanced intelligence technologies greatly improve Hui Min Bao’s operational efficiency. As the main operating platform for Jiangsu Hui Min Bao, the group has written more than 3 million Jiangsu Hui Min Bao policies and 76% of all claims have been settled through the group’s intelligent claims service. Compared to traditional methods, the group’s intelligent claims service triples the productivity of the claims process, relieves policyholders and increases engagement.

As the leader with the largest market share in the health information market for medical organizations and regulators, and the emerging health information market in China , Yidu Tech is committed to supporting the transformation and intelligent improvement of the healthcare industry. As well as developing a high quality healthcare industry. Yidu Tech will continue to pursue a two-pronged strategy to expand infrastructure, strengthen disease research, maintain a strategic focus on business, customers, disease and organization, and help build the health intelligence ecosystem and maintaining his mission. It aims to make value-based healthcare accessible to all and create more value for players in the healthcare industry.

About Yidu Tech Inc

Yidu Tech Inc. The group focuses on empowering the industry through health intelligence infrastructure and building a safe, accessible and value-based healthcare environment in the three main areas of healthcare: public health, research, diagnosis and treatment. healthcare system In January 2021 , Yidu Tech was successfully listed on the Main Board of the Hong Kong Stock Exchange.

Yidu Tech mainly operates in three business areas: Big Data Platform and Solutions, Life Science Solutions, and Health Management Platform and Solutions, which help simplify and reduce the costs of medical and clinical research, health management, management of public health and the innovative drug development industry. . Improving efficiency by making real value-based healthcare solutions available to all.

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