Financial Performance - In 2022, Medlive Technology Co., Ltd. reported a revenue of RMB 314,054,000, representing an increase of 10.0% from RMB 284,440,000 in 2021[12]. - The gross profit for 2022 was RMB 212,741,000, up from RMB 200,734,000 in 2021, indicating a growth of 6.3%[12]. - Profit for the year surged to RMB 126,421,000, compared to RMB 45,245,000 in 2021, marking a significant increase of 179.5%[12]. - The total equity of the company reached RMB 4,431,914,000 in 2022, an increase from RMB 3,972,193,000 in 2021, reflecting a growth of 11.5%[14]. - Non-current assets rose to RMB 251,502,000 in 2022, compared to RMB 102,572,000 in 2021, showing a substantial increase of 144.5%[14]. - Current assets increased to RMB 4,351,727,000 in 2022, up from RMB 4,012,989,000 in 2021, which is a growth of 8.4%[14]. - For the year ended December 31, 2022, the Group's revenue was approximately RMB 314.1 million, representing an increase of 10.4% compared to the same period last year[28]. - The Group's profit for the year increased from RMB 45.2 million for the year ended December 31, 2021, to RMB 126.4 million for the year ended December 31, 2022, reflecting a growth of 179.4%[30]. - The net profit margin increased from approximately 15.9% for the year ended December 31, 2021, to approximately 40.3% for the year ended December 31, 2022, representing an increase of 24.4 percentage points[30]. - The adjusted net profit for the year ended December 31, 2022, was approximately RMB 144.0 million, an increase of approximately 34.7% compared to RMB 106.9 million for the year ended December 31, 2021[31]. - The adjusted net profit margin for the year ended December 31, 2022, was approximately 45.8%, an increase of 8.2 percentage points compared to approximately 37.6% for the year ended December 31, 2021[30]. User Engagement and Platform Growth - In 2022, the number of registered users on the Medlive platform reached a new high, with licensed physician users increasing to 3.72 million, accounting for 85% of all licensed physicians in China[18]. - The average number of monthly active users on the platform reached 2.05 million in 2022, indicating improved user engagement[18]. - The number of paying customers expanded to 130, and the number of marketed products increased to 284 in 2022[18]. - The platform accumulated nearly 200,000 pieces of original professional content, achieving an average monthly reading volume of 330 million in 2022[26]. - The eBroadcasting channel added approximately 5,000 new videos in 2022, bringing the total to over 48,000, with channel visitors reaching 1.86 million, a 152% increase compared to 2021[27]. Strategic Initiatives and Future Plans - The company aims to leverage advancements in digitalization and big data to enhance its business model and meet the growing demand for digital healthcare solutions[15]. - The introduction of new regulations in China is expected to promote the development of digitalized medical care, providing opportunities for Medlive to expand its digital marketing efforts[16]. - The company is focusing on the integration of smart medical care and the improvement of informatization levels in medical institutions as part of its future strategy[15]. - Medlive's management anticipates that the ongoing reforms in the national medical system will create a favorable environment for growth in the digital healthcare sector[15]. - Medlive aims to expand its business upstream in the industrial chain, particularly in clinical trials and post-launch real-world research stages[23]. - The company plans to enhance strategic cooperation with authoritative medical institutions domestically and internationally, seeking quality target companies for potential mergers and acquisitions[23]. - The Group plans to explore strategic partnerships, investments, and acquisitions to enhance technological capabilities and expand the customer base[55]. - The Group intends to provide extensive support to pharmaceutical and medical device companies in accumulating evidence through Real-World Studies (RWS) and optimizing clinical decision-making[54]. Technological Advancements - The search click rate on the platform increased from 30% to 80% due to the integration of AI technology[22]. - The Group launched products and tools such as a rare disease inquiry assistant, AI journal selection, AI writing, and decentralized clinical trial (DCT) to enhance clinical research efficiency and reduce costs[28]. - The DCT system developed by the company significantly improved the efficiency of clinical trials, aligning with the drug regulatory center's principle of "putting patients first"[37][40]. - The Group leverages AI technology to establish an analysis engine for physicians' online learning, supporting digital education for various pharmaceutical products[33]. - The AI-enabled search engine of the "医搜" platform allows for comprehensive and precise medical information retrieval, optimizing the content retrieval algorithm in 2022[39][41]. Corporate Governance and Management - The Group's management team includes experienced professionals with backgrounds in medical information technology, software development, and consulting, enhancing its operational capabilities[92][96]. - The company has a strong leadership team with diverse backgrounds in finance, consulting, and technology[98][99][100]. - The board is focused on providing professional advice and judgment to enhance corporate governance and strategic direction[98][100]. - The Group emphasizes effective talent management as crucial for long-term success, offering comprehensive training programs and competitive salaries[144]. - The Group has implemented share incentive schemes to align the interests of employees and senior management with those of the Company[147]. Social Responsibility and Sustainability - Medlive is committed to sustainable growth and fulfilling social responsibilities, including employee development and environmental protection[21]. - The Group is committed to social responsibility, promoting employee benefits, and achieving sustainable growth[126]. Regulatory Compliance - The Group has complied with relevant PRC laws and regulations, obtaining all necessary licenses and permits for its operations[127]. - As of December 31, 2022, the Group had no significant violations of applicable laws and regulations in its operations in China[130]. Acquisitions and Investments - The Group acquired a 60% equity interest in Beijing Medcon in October 2021, a leading SaaS solution platform for academic conferences in the PRC[185]. - The cash consideration for acquiring 60% equity interest in Beijing Medcon was RMB100,253,400, payable in four installments, with adjustments based on net profit performance[85]. - The Group plans to continue pursuing strategic investments and acquisitions that can generate synergies with existing solutions and enhance technological capabilities[89].

Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 314,054,000, representing a 10.4% increase from RMB 284,440,000 in 2021[2] - Net profit for the year reached RMB 126,421,000, a significant increase of 179.4% compared to RMB 45,245,000 in the previous year[2] - The group's revenue for the year ended December 31, 2022, was approximately RMB 314.1 million, an increase of 10.4% compared to the previous year[7] - The net profit for the year increased to RMB 126.4 million, representing a year-on-year growth of 179.4%, with a net profit margin of approximately 40.3%[7] - The adjusted net profit for the year was approximately RMB 144.0 million, up about 34.7% from RMB 106.9 million in the previous year, with an adjusted net profit margin of approximately 45.8%[7] - The total comprehensive income for 2022 was RMB 456.31 million, compared to a loss of RMB 8.69 million in 2021, showing a strong turnaround[43] - Basic earnings per share rose to RMB 16.42 cents in 2022 from RMB 6.59 cents in 2021, reflecting strong profitability growth[42] - Pre-tax profit for 2022 was RMB 135,037 thousand, a significant increase from RMB 69,927 thousand in 2021, representing a growth of 93.5%[67] - The tax expense calculated at the statutory tax rate of 25% for 2022 was RMB 33,760 thousand, compared to RMB 17,482 thousand in 2021, reflecting an increase of 93.5%[67] User Engagement and Growth - The number of registered users reached approximately 6.2 million, with registered physician users increasing to 3.7 million, up from 5.5 million and 3.1 million respectively in 2021[4] - The average monthly active users for 2022 were 2.05 million, compared to 1.61 million in 2021, reflecting a growth in user engagement[4] - The number of participating physicians in paid clicks increased to 627,000, up from 543,000 in 2021, reflecting an increase of 84,000[8] - The search click-through rate on the medical knowledge platform improved from 30% in 2021 to 80% in 2022, indicating enhanced user engagement[11] Revenue Segmentation - The precision marketing and enterprise solutions segment generated RMB 288,177,000 in revenue, accounting for 91.8% of total revenue, with an 11.4% year-over-year growth[3] - The medical knowledge solutions segment contributed RMB 12,261,000, maintaining a stable revenue level compared to the previous year[3] - Revenue from precision marketing and enterprise solutions reached RMB 288,177,000 in 2022, up from RMB 258,794,000 in 2021, reflecting a growth of 11.3%[56] - Revenue from mainland China reached RMB 296,886,000 in 2022, up from RMB 273,655,000 in 2021, indicating a growth of about 8.5%[54] - Overseas revenue increased to RMB 17,168,000 in 2022, compared to RMB 10,785,000 in 2021, reflecting a significant growth of approximately 59.5%[54] Strategic Initiatives and Innovations - The company launched several new AI-driven tools, including rare disease query assistants and remote intelligent clinical trials, enhancing clinical research efficiency[6] - The company launched the "e Research通" platform in 2022 to enhance research efficiency for doctors, featuring tools such as AI writing assistants and literature management[12] - The group established a comprehensive disease knowledge base and a digital marketing service model that supports various clinical research scenarios, enhancing the efficiency of clinical trials[9] - The group launched real-world research (RWS) services, providing integrated research services across multiple therapeutic areas, including oncology and cardiology[9] - The company is focused on leveraging digital marketing trends in the pharmaceutical and medical device sectors, driven by regulatory changes and the push for digital transformation in healthcare[5] Financial Position and Investments - The group had cash and cash equivalents of approximately RMB 4,187.3 million as of December 31, 2022, compared to RMB 3,879.1 million as of December 31, 2021[35] - The group had no short-term or long-term bank borrowings as of December 31, 2022, with a debt-to-equity ratio of zero[36][37] - The company plans to continue strategic investments and acquisitions that create synergies with existing solutions and expand its customer base[40] - The company plans to enhance patient care services with an allocation of HKD 467.7 million, which remains fully unutilized as of December 31, 2022[82] Operational Costs and Expenses - Sales costs rose by approximately 21.0% from RMB 83.7 million in 2021 to RMB 101.3 million in 2022, primarily due to business expansion and increased employee benefits[21] - Administrative expenses increased by approximately 20.2% from RMB 101.8 million in 2021 to RMB 122.4 million in 2022, driven by platform maintenance and R&D costs[25] - R&D expenses rose to RMB 46,231,000 in 2022, compared to RMB 25,331,000 in 2021, representing an increase of 82.5%[63] Corporate Governance and Compliance - The company has established an audit committee comprising three independent non-executive directors to oversee compliance with applicable accounting principles[88] - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange, with a noted deviation regarding the roles of the chairman and CEO[85] - The board approved the financial statements on March 23, 2023, ensuring compliance with regulatory requirements[77]

Financial Performance - For the year ended December 31, 2021, Medlive reported revenue of RMB 284,440,000, a 33.1% increase from RMB 213,529,000 in 2020[14]. - Gross profit for 2021 was RMB 200,734,000, representing a gross margin of approximately 70.6%[14]. - The profit for the year attributable to owners of the parent was RMB 40,616,000, a significant decrease of 52.3% compared to RMB 85,197,000 in 2020[14]. - Non-HKFRS adjusted net profit for the same period was RMB 106.9 million, reflecting a growth of 25.4% year-on-year[26]. - The Group's revenue increased from approximately RMB 213.5 million for the year ended December 31, 2020, to approximately RMB 284.4 million for the year ended December 31, 2021, representing an increase of approximately 33.2%[59]. - The Group's gross profit increased from approximately RMB 156.2 million for the year ended December 31, 2020, to approximately RMB 200.7 million for the year ended December 31, 2021, representing an increase of approximately 28.5%[59]. - The Group's profit for the year decreased by approximately 46.9% from approximately RMB 85.2 million for the year ended 31 December 2020 to approximately RMB 45.2 million for the year ended 31 December 2021[95]. - The profit attributable to owners of the parent decreased by approximately 52.3% from approximately RMB 85.2 million to approximately RMB 40.6 million[99]. User Engagement and Market Presence - As of December 31, 2021, Medlive's platform had approximately 5.50 million registered users, with about 3.10 million being licensed physicians, accounting for approximately 75% of all licensed physicians in China[20]. - The healthcare customer base and the number of healthcare products and services have increased steadily due to higher user engagement and the ongoing healthcare reform[30]. - In 2021, the Group had 106 healthcare customers for its precision marketing and corporate solutions, an increase from 81 in 2020[49]. - The Group marketed 242 products of healthcare customers using its precision marketing solutions in 2021, compared to 191 in 2020[49]. - The digital healthcare marketing proportion in China increased from 0.8% in 2018 to 2.3% in 2022, and is projected to reach 11.4% by 2025, with an expected market size of RMB 111.0 billion[32]. Strategic Developments - Medlive was successfully listed on the Main Board of the Hong Kong Stock Exchange on July 15, 2021, marking a significant milestone in its international development[18]. - In November 2021, Medlive was included in the Hang Seng Composite Index, highlighting its growth potential recognized by the capital market[18]. - The Group acquired a 60% equity interest in Beijing Medcon in October 2021, enhancing its capability in providing medical conference services[53]. - The Group plans to continue pursuing strategic investments and acquisitions to enhance its technological capabilities and expand its customer base, utilizing proceeds from the Global Offering for such purposes[134][136]. Operational Efficiency and Cost Management - The Group's cost of sales increased by approximately 46.1% from approximately RMB 57.3 million in 2020 to approximately RMB 83.7 million in 2021, primarily due to higher employee benefit expenses and technology service fees[80]. - Administrative expenses surged by approximately 212.0% from approximately RMB 32.6 million in 2020 to approximately RMB 101.8 million in 2021, largely due to listing expenses and increased research and development costs[88]. - Selling and distribution expenses increased by approximately 28.9% from approximately RMB 20.0 million in 2020 to approximately RMB 25.8 million in 2021, driven by higher promotion activities[87]. Employee and Management Structure - The Group had a total of 502 full-time employees as of 31 December 2021, with employee costs amounting to approximately RMB 104.4 million, up from RMB 51.6 million in 2020, representing an increase of 102%[141]. - The increase in employee costs was primarily due to business growth and the recognition of share-based payment compensation of approximately RMB 14.3 million for key employees[141]. - The company employs stock option plans and share incentive plans to align the interests of employees and senior management with those of the company[141]. - The management team includes members with advanced degrees in finance and business administration, enhancing strategic decision-making capabilities[192][198]. Financial Position and Capital Management - As of 31 December 2021, the Group had cash and cash equivalents of approximately RMB 3,879.1 million, a significant increase from RMB 147.1 million as of 31 December 2020[115][116]. - The Group did not have any short-term or long-term bank borrowings, resulting in a gearing ratio of zero as of 31 December 2021[117][118]. - The Group intends to finance its expansion and business operations using a combination of cash generated from operating activities and the net proceeds received from the Global Offering[108]. - The net proceeds received from the Global Offering in July 2021 have been placed in short-term deposits with licensed financial institutions[110].