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 a leading corporate in China’s healthcare intelligence industry, announced the interim results for the six months ended 30 September 2022 (“the first half of FY2023” or “the Reporting Period”).

Despite the challenging and uncertain external environment, the Group remained committed to improving profitability with a strategic focus. The Group continues to focus on applying digital and intelligent applications to multiple use-case scenarios, concentrating on key disease research areas such as solid tumors, hematology, ophthalmology and immunology to further strengthen its core competence, improve customer experience and increase customers’ average transaction value. During the Reporting Period, the Group reported a total revenue of RMB474.4 million and adjusted net loss narrowed to RMB224.8 million, a decrease of 30.3% year-on-year. Total operating expense as a percentage of revenue decreased by 32.1 percentage points.

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Ms. Gong Yingying (Rujing), Chairlady and Founder, Executive Director and Chief Executive Officer of Yidu Tech, stated, “The Group has taken proactive and effective measures to enhance operational efficiency and has successfully narrowed its loss and adjusted net loss significantly during the Reporting Period, which is a testament to the effectiveness of our business development strategy. We expect a continued improvement in operation efficiency going forward, and we will continue to make progress toward achieving profitability. Yidu Tech will adhere to its original vision of ‘green healthcare’, continue to enhance its core technology capabilities, and deepen its efforts in the three scenario categories of research, diagnosis and treatment, and public health, in order to create more value in the healthcare intelligence industry.”

Deep cultivation of three major scenarios with strategic focus on aiding commercialization

During the Reporting Period, Yidu Tech proactively enhanced its profitability with a strategic focus on four major areas: business, customers, diseases and organization.

In terms of business, Yidu Tech continues to focus on scenarios in three major categories, namely research, diagnosis and treatment, and public health. The Company promotes multi-scenario applications based on the three categories, achieving scenario-driven optimization of intelligence. Driven by innovation, the Group continuously upgrades its portfolio of high-quality professional products and services to meet the diverse demands of its core customers.

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In terms of customers, Yidu Tech focuses on serving core hospitals and core pharmaceutical companies with high revenue retention. In the Big Data Platform and Solutions (“BDPS”) segment, the Company upgraded and launched the All Disease Data Platform, which facilitates the DIY creation of disease registries by hospitals. In addition, in the Life Science Solutions (“LSS”) segment, the revenue retention rate for the top 10 clients reached 119%.

In terms of diseases, during the Reporting Period, the Group concentrated on key disease research areas including solid tumors, hematology, ophthalmology and immunology. Regarding organization, based on the intelligent “medical brain” YiduCore and the overlapping applications of its core capabilities, Yidu Tech continued to enhance the synergy among the three business segments and to increase customer awareness. Meanwhile, the Group continuously improved the business penetration and internal operating efficiency, and continued to reduce the ratio of total operating expense to revenue during the Reporting Period, which was brought down by 32.1 percentage points year-on-year.

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