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 ...

Financial Performance - The company reported a net loss of RMB 79.56 million for the period, a year-on-year reduction of 77.7%[7]. - Adjusted net loss for the period was RMB 54.10 million, narrowing by 75.9% year-on-year[7]. - Revenue for the six months ended September 30, 2023, was RMB 356.48 million, a decrease of 24.9% compared to RMB 474.37 million in 2022[13]. - Gross profit increased to RMB 136.21 million, representing a 10.1% increase from RMB 123.68 million in the previous year[13]. - Operating loss reduced by 78.0% from RMB 356.3 million to RMB 78.3 million[39]. - Net loss for the period decreased by 77.7% from RMB 356.3 million to RMB 79.6 million[40]. - Adjusted net loss improved from RMB 224.8 million to RMB 54.1 million, with an adjusted net loss margin of 15.2%[41]. - Other income increased to RMB 72,333 thousand, compared to RMB 37,528 thousand in the same period last year, marking a 93% increase[92]. - The total comprehensive income for the period was RMB 54,076 thousand, compared to RMB 14,939 thousand in the previous year, showing a significant increase[93]. Operational Efficiency - The gross margin improved by 12.1 percentage points to 38.2% in the first half of FY24[8]. - Operating expenses as a percentage of revenue decreased by 12.8 percentage points year-on-year, indicating improved operational efficiency[17]. - Sales and service costs decreased by 37.2% from RMB 350.7 million for the six months ended September 30, 2022, to RMB 220.3 million for the six months ended September 30, 2023[33]. - Research and development expenses decreased by 43.0% from RMB 181.9 million to RMB 103.6 million, with R&D expenses as a percentage of revenue dropping from 38.3% to 29.1%[38]. - Administrative expenses decreased by 45.7% from RMB 109.4 million to RMB 59.4 million, with administrative expenses as a percentage of revenue declining from 23.1% to 16.7%[36]. Revenue Segments - The revenue from the big data platform and solutions segment was RMB 127.9 million, representing a year-on-year increase of 3.2%[22]. - The revenue for the life sciences solutions segment reached RMB 170.2 million for the six months ending September 30, 2023, representing a year-on-year increase of 16.1%[27]. - Revenue from the health management platform and solutions segment decreased by 71.4% year-on-year to RMB 58.4 million, primarily due to a focus on product portfolio[28]. - The company’s customer contract revenue from the big data platform and solutions segment was RMB 127,939 thousand for the six months ended September 30, 2023, compared to RMB 124,028 thousand in the same period of 2022[111]. Client and Market Growth - The number of clinical trial projects conducted reached 296, with 1,221 real-world research projects completed[7]. - The number of top-tier hospital clients reached 94, with a revenue retention rate of 128.2% from the top ten clients[7]. - Active users on the health management platform reached 2.6 million, with a focus on digital therapies for chronic diseases[18]. - The company has successfully entered the diabetes digital therapy project in Hainan Province, marking a significant innovation in digital therapy business models[7]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2024[175]. Investments and Future Plans - The company has investment commitments of RMB 260.5 million as of September 30, 2023, significantly up from RMB 13.4 million a year earlier[50]. - The company plans to enhance its core algorithms and develop a medical vertical large language model to strengthen its YiduCore capabilities[30]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of RMB 200 million allocated for this purpose[175]. - A strategic partnership with a leading healthcare provider is expected to drive user growth by 25% in the next fiscal year[175]. - The company plans to invest RMB 150 million in marketing efforts to boost brand awareness in new markets[175]. Shareholder Information - As of September 30, 2023, the total number of shares issued by the company is 1,052,858,149[64]. - Ms. Gong holds a beneficial interest in 417,626,975 shares, representing approximately 39.67% of the total shares[64]. - Mr. Xu also holds a beneficial interest in 417,626,975 shares, equivalent to approximately 39.67%[64]. - The total percentage of shares held by major shareholders includes significant interests from both Ms. Gong and Mr. Xu, each at 39.67%[68]. - A total of 10,340,160 shares were granted under the post-IPO share incentive plan during the reporting period[77]. Cash Flow and Financial Position - The company has a cash reserve of RMB 3.81 billion, a year-on-year reduction of 11.8%[7]. - As of September 30, 2023, the company recorded cash and cash equivalents of RMB 3,191.3 million, down from RMB 3,522.0 million as of March 31, 2023[44]. - The company reported a net cash outflow from financing activities of RMB (3,462) thousand for the six months ended September 30, 2023, compared to RMB (12,755) thousand in the previous year, indicating a reduction in financing costs[98]. - The company’s total liabilities decreased to RMB 621,210 thousand from RMB 755,357 thousand, a reduction of about 17.7%[95]. - The company’s total assets amounted to RMB 4,858,478 thousand, a decrease from RMB 4,911,508 thousand as of March 31, 2023, reflecting a decline of approximately 1.08%[94]. Research and Development - The company has developed and trained large language models in the medical vertical, completing models with 7 billion and 13 billion parameters, and currently training a model with 70 billion parameters[20]. - The company has published 19 disease standard datasets in collaboration with experts and authoritative institutions, enhancing research capabilities in various disease areas[21]. - Research and development expenses increased by 10% to RMB 50 million, focusing on AI technology enhancements[175]. Regulatory and Compliance - The company has received certifications for multi-party secure computing and federated learning capabilities from the China Academy of Information and Communications Technology[16]. - The company has no significant contingent liabilities as of September 30, 2023[49]. - The board does not recommend the distribution of an interim dividend for the six months ended September 30, 2023[57].

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]

Financial Performance - Yidu Tech reported a significant increase in revenue, achieving a total of $XX million for the interim period, representing a YY% growth compared to the previous year[2]. - Total revenue for the first half of FY23 reached RMB 1,237 million, representing a 42.7% increase compared to the same period last year[8]. - Adjusted net loss for the first half of FY23 was RMB 224.8 million, a 30.3% improvement from RMB 322.5 million in the first half of FY22[14]. - The gross profit for the first half of FY23 was RMB 123.7 million, down 14.2% from RMB 144.1 million in the same period last year[14]. - The operating loss decreased by 19.4% to RMB 356.3 million in the first half of FY23, compared to RMB 442.2 million in the first half of FY22[14]. - The company reported a net loss of RMB 356.3 million for the six months ended September 30, 2022, compared to a net loss of RMB 442.5 million for the same period in 2021, representing a 19.5% improvement[46]. - The basic loss per share improved to RMB (0.36) from RMB (0.47) year-on-year, reflecting a reduction in losses[143]. User Growth and Market Expansion - The user base expanded to ZZ million active users, marking a growth of AA% year-over-year[3]. - The company is exploring market expansion opportunities in Southeast Asia, aiming to increase its footprint in the region by EE% over the next two years[6]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[194]. - Customer retention rates improved to 85%, reflecting the effectiveness of new user engagement strategies implemented[194]. Product Development and Innovation - Yidu Tech is focusing on the development of new products, including advanced AI-driven healthcare solutions, expected to launch in Q1 2024[5]. - Investment in R&D increased by 40% year-over-year, focusing on AI and cloud technology advancements[194]. - The company launched a new health management platform, projected to generate an additional RMB 100 million in revenue within the first year[194]. - The company is focusing on enhancing its core capabilities in the medical intelligence industry, particularly in three key application scenarios[8]. Financial Guidance and Projections - The company provided guidance for the next quarter, projecting revenue to reach between $BB million and $CC million, indicating a growth rate of DD%[4]. - The company expects revenue growth to accelerate to 30% for the next fiscal year, driven by new product launches and market expansion strategies[194]. Operational Efficiency and Cost Management - The company reported a gross margin of FF%, reflecting improved operational efficiency and cost management strategies[8]. - Sales and service costs decreased by 2.0% from RMB 357.9 million for the six months ended September 30, 2021, to RMB 350.7 million for the six months ended September 30, 2022[36]. - The gross margin for the reporting period was reported at 60%, an increase from 55% in the previous year[194]. Strategic Acquisitions and Partnerships - Yidu Tech is considering strategic acquisitions to enhance its technology capabilities and market reach, with potential targets identified in the healthcare tech sector[7]. - The management highlighted a strong pipeline of partnerships with leading healthcare institutions, which is expected to drive future growth[10]. - The company is exploring partnerships with international pharmaceutical companies to enhance its service offerings and expand its client base[194]. Cash Flow and Financial Position - Yidu Tech's cash flow from operations improved, generating $II million, which supports its ongoing investment strategies[11]. - Cash and cash equivalents, along with restricted bank balances, decreased from RMB 3,732.1 million as of March 31, 2022, to RMB 3,014.9 million as of September 30, 2022[49]. - The company reported a net cash outflow from operating activities of RMB (237,949) thousand, an improvement compared to RMB (281,329) thousand in the same period last year[109]. Market Share and Competitive Position - The company maintained a leading market share in the Chinese medical intelligence market, with a 31% share in the healthcare institutions and regulatory segment[8]. - The company holds a 25.6% market share in the emerging medical intelligence market, ranking first in revenue among medical institutions and regulatory bodies[17]. Research and Development - R&D expenses increased to $GG million, accounting for HH% of total revenue, as the company invests in innovative technologies[9]. - The company has conducted 232 clinical studies, including 185 prospective and retrospective real-world studies, as of September 30, 2022[26]. Corporate Governance and Management - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules, with the exception of the separation of the roles of Chairman and CEO, which are held by the same individual, Ms. Gong[63]. - The company will continue to review and monitor corporate governance practices to ensure compliance with the new corporate governance code effective from January 1, 2022[63].

Financial Performance - Total revenue for FY2022 reached RMB 1,237 million, representing a 42.7% increase year-over-year[7] - Adjusted net loss for FY2022 was RMB 584 million, a 112.1% increase compared to RMB 275 million in FY2021[7] - Revenue for the fiscal year ended March 31, 2022, was RMB 1,237,200, an increase of 42.7% compared to RMB 867,036 in the previous year[18] - Life Sciences Solutions revenue surged by 95.0% to RMB 359,375 from RMB 184,318 year-over-year[18] - Health Management Platform and Solutions revenue increased by 68.5% to RMB 424,941 from RMB 252,129 year-over-year[18] - The company reported an operating loss of RMB (767,398), a 69.3% increase from RMB (453,286) in the previous year[18] - The adjusted net loss was RMB (583,521), reflecting a 112.1% increase from RMB (275,079) in the previous year[18] - Revenue increased by 42.7% from RMB 867.0 million for the fiscal year ended March 31, 2021, to RMB 1,237.2 million for the fiscal year ended March 31, 2022[39] - Revenue from life sciences solutions surged by 95.0% from RMB 184.3 million to RMB 359.4 million, driven by an increase in active customers and higher average revenue per active customer[39] - Revenue from health management platforms rose by 68.5% from RMB 252.1 million to RMB 424.9 million, primarily due to increased income from insurance services and health platform solutions[39] User Growth and Market Position - Active user count increased from 5 million to 12 million during the fiscal year[7] - The market share in the overall Chinese healthcare intelligence market reached 36% in FY2022, maintaining the leading position[7] - The company holds a 25.6% market share in the emerging medical intelligence market, ranking first in revenue among medical institutions and regulatory bodies[22] - The number of top-tier research hospitals served increased from 76 to 82, and the coverage of regulatory bodies rose from 19 to 26[7] - The average revenue per customer grew by 49% year-over-year, indicating strong customer retention[7] - The hospital network expanded to over 800 hospitals, with a knowledge graph covering over 9,000 diseases[13] Innovation and Technology - The company aims to drive the intelligent transformation of the healthcare industry through continuous innovation and technology upgrades[11] - The company is focused on enhancing its core technical capabilities in deep learning, natural language processing, and secure multi-party computation[12] - The company aims to enhance its YiduCore platform to generate new insights for clinical research and accelerate the medical research process[14] - The company has developed a predictive model for fatal bacterial infections in ICUs, improving patient identification and treatment speed[15] - The company has initiated nearly 1,000 research projects and developed a real-world data clinical research platform with a contract value of several tens of millions RMB[27] - The company has developed a medical AI platform that reduces new drug development costs and shortens the average drug development cycle from 10 years to a more efficient timeline, exemplified by a rare disease drug trial that was shortened by approximately 20 months[179] Strategic Partnerships and Collaborations - The company has established partnerships with top ophthalmology hospitals in North China, East China, and South China, with a contract exceeding RMB 10 million for the NCRC construction[31] - The company has supported over 20 clinical studies and trials in collaboration with two of the three national NCRC hospitals for blood system diseases, an increase of 6 studies from the previous fiscal year[31] - The company signed a strategic agreement with a biotech firm focused on ophthalmic drug innovation, leading to a Phase III clinical trial for a specific retinal disease drug[33] - The company has established a joint research center with Tsinghua University to advance smart healthcare systems[133] Corporate Governance and Compliance - The company has complied with all relevant laws and regulations during the reporting period, with no significant violations reported[76] - The company emphasizes responsible operations and compliance policies to enhance governance and reduce operational risks[192] - The company adheres to anti-corruption laws and has implemented policies to prevent bribery, fraud, and money laundering, ensuring responsible compliance operations[196] - The company has established a remuneration committee to determine the compensation policy for directors and senior management[115] - The company has a strong commitment to business integrity and social contributions, as highlighted in its annual report[138] Environmental, Social, and Governance (ESG) Initiatives - The company aims to enhance its ESG performance by integrating sustainable development concepts into daily operations and implementing various policies and measures in the ESG field[156] - The company has established an ESG management framework to enhance sustainable development and corporate social responsibility[157] - The ESG working group is responsible for implementing and supervising ESG matters, with members from various departments including finance, legal, and human resources[161] - The company has identified 29 key ESG issues, including 9 highly important issues such as smart epidemic management and protecting customer privacy[168][169] - The company prioritizes employee training and development, ensuring a good working environment and safeguarding employee rights[169] Risk Management - The company emphasizes risk management as a crucial part of daily operations, implementing a comprehensive risk assessment management approach to ensure stable and healthy development[193] - Risk assessment involves setting objectives, identifying risks, analyzing and evaluating risks, responding to risks, and monitoring and improving risk management processes[194] - The company categorizes risks into strategic, financial, market, operational, and legal risks, assessing their impact as pure risks and opportunity risks[193] Product and Service Quality - The company has implemented strict quality control measures, achieving quality management system certification (GB/T 19001-2016/ISO9001:2015)[189] - The company has developed a comprehensive quality management system to ensure product and service quality, with no complaints received during the reporting period[191] - No cases of product recalls due to safety or health reasons were reported during the period[190] Community Engagement and Social Responsibility - Charitable donations made by the group during the reporting period were approximately RMB 19.9 million[107] - The company is committed to reducing medical resource waste and lowering new drug development costs through the application of AI and big data technologies[156] - The company aims to provide more accessible and equitable healthcare insurance services as part of its ESG strategy[168]

Revenue Growth - Revenue for the six months ended September 30, 2021, reached RMB 501.93 million, representing a 62.3% increase compared to RMB 309.17 million in the same period last year[11]. - The life sciences solutions segment saw a significant growth of 106.3%, with revenue increasing from RMB 70.58 million to RMB 145.63 million[11]. - The health management platform and solutions segment experienced a remarkable growth of 642.6%, with revenue rising from RMB 25.65 million to RMB 190.44 million[11]. - As of September 30, 2021, the total revenue reached RMB 501.9 million, representing a year-on-year growth of 62.3%[13]. - The total revenue for the big data platform and solutions segment was RMB 157.9 million, with a gross margin of 41.7%, representing a year-on-year increase of 4.9 percentage points[19]. - Revenue from life sciences solutions rose by 106.3% to RMB 145.6 million, driven by an increase in active customers and higher average revenue per active customer[25]. - The health management platform and solutions segment experienced a revenue increase of 642.6% year-over-year, reaching RMB 190.4 million for the six months ended September 30, 2021[22]. Profitability and Losses - The gross profit for the period was RMB 144.07 million, a 64.4% increase from RMB 87.63 million year-on-year[11]. - The company reported an operating loss of RMB 442.21 million, which is a 72.7% increase in losses compared to RMB 256.10 million in the previous year[11]. - The adjusted net loss for the period was RMB 321.50 million, reflecting a 93.9% increase compared to RMB 165.81 million in the same period last year[11]. - The period loss decreased by 62.9% from RMB 1,192.4 million to RMB 442.5 million, mainly due to the conversion of convertible redeemable preferred shares and convertible bonds after the IPO[37]. - The net loss for the six months ended September 30, 2021, was RMB 442,542 thousand, compared to a net loss of RMB 1,192,357 thousand in the same period of 2020, indicating a reduction in losses by 62.9%[87]. - The net loss attributable to the company's owners was RMB 440,768 thousand for the six months ended September 30, 2021, compared to a net loss of RMB 1,192,614 thousand in the same period of 2020, indicating a significant reduction in losses[122]. Customer Base and Market Expansion - The number of active clients in the life sciences segment increased from 108 to 127, indicating a growing customer base[9]. - The number of top-tier research hospitals served increased from 76 to 78, demonstrating an expansion in the company's hospital partnerships[9]. - The active customer count for life sciences solutions increased to 127, adding 19 new customers during the reporting period[13]. - The overall revenue retention rate for all clients was 133%, while the retention rate for core pharmaceutical, biotechnology, and medical device clients was 140%[21]. - The company aims to deepen its understanding of various disease areas, expand its customer base, and enhance data processing and machine learning capabilities[23]. - The company plans to leverage its disease insights and expert network to provide effective health management solutions[24]. Research and Development - The company has developed a real-world data clinical research platform with a contract value of several tens of millions, aimed at accelerating the approval of fast-track drugs and medical devices[15]. - A predictive model for identifying infection risk in ICU patients was developed in collaboration with a top three hospital, effectively tested on over 1,600 cases[16]. - The company’s clinical trial patient enrollment efficiency improved by 100%, while the screening failure rate decreased by 60% compared to client-defined requirements[20]. - Research and development expenses grew by 94.7% from RMB 98.6 million to RMB 192.0 million, with the percentage of R&D expenses to revenue rising from 31.9% to 38.2%[32]. - The company has allocated RMB 30 million for research and development in the upcoming year to support innovation and product development[171]. Financial Position and Cash Flow - As of September 30, 2021, the company had cash and cash equivalents of RMB 4,219.5 million, down from RMB 4,605.6 million as of March 31, 2021[41]. - The company reported a net cash position as of September 30, 2021, with a debt-to-equity ratio not applicable, compared to 99.0% as of September 30, 2020[44]. - The company experienced a foreign exchange loss of RMB 60.2 million for the six months ended September 30, 2021, compared to a foreign exchange gain of RMB 179.5 million in the same period in 2020[45]. - The net cash used in operating activities was RMB (281,329) thousand for the six months ended September 30, 2021, compared to RMB (22,068) thousand for the same period in 2020[92]. - Cash and cash equivalents at the end of the period reached RMB 4,214,443 thousand, significantly up from RMB 1,132,999 thousand year-over-year, reflecting an increase of 272.5%[93]. Corporate Governance and Shareholder Information - The board is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[54]. - The company has complied with all applicable provisions of the corporate governance code, with the exception of the separation of the roles of Chairman and CEO[55]. - The board will regularly review the company's situation and consider adopting a dividend policy when appropriate[55]. - The company did not make any significant investments or acquisitions during the six months ended September 30, 2021[42]. - No interim dividend has been proposed for the six months ending September 30, 2021, as the board believes it is not appropriate to adopt a dividend policy at this stage[53]. Stock Options and Employee Incentives - The company aims to attract and retain top talent through the Pre-IPO Employee Stock Option Plans[65]. - The total number of unexercised stock options as of September 30, 2021, was 140,854,805 shares, representing approximately 14.42% of the issued shares[65]. - The company granted 4,842,450 stock options to employees under the post-IPO stock option plan as of September 30, 2021[144]. - The average exercise price of stock options granted during the period was USD 4.443, with a total of 145,526,255 stock options outstanding at the end of the period[145]. - The post-IPO share option plan has a remaining validity of approximately nine years from the listing date[74]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[171]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[171]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's technological capabilities and broaden its service offerings[171]. - A new product line is set to launch in Q1 2022, expected to contribute an additional RMB 50 million in revenue within the first year[171].