Core Viewpoint - The launch of the domestically produced calcipotriene and betamethasone ointment by Chongqing Huabang Pharmaceutical on JD Health marks a significant advancement in psoriasis treatment options for patients in China, providing a more accessible and effective solution [1][2] Group 1: Product Overview - The calcipotriene and betamethasone ointment is the first generic version in China, equivalent to the original product, enhancing treatment options for psoriasis patients [1] - The ointment combines calcipotriene, which inhibits abnormal proliferation of keratinocytes and promotes normal differentiation, with betamethasone, known for its strong anti-inflammatory and immunosuppressive effects [1] Group 2: Market Impact - The product's launch on JD Health signifies an important upgrade in the collaboration between Huabang Pharmaceutical and JD Health, leveraging JD Health's extensive user base and comprehensive healthcare service system [2] - JD Health's capabilities in online consultation, drug delivery, and health management will enhance the market coverage and user reach of the new ointment, benefiting more patients [2]

Core Insights - The "2025 JD Health - Eye Health Industry Summit" was held to promote scientific eye care concepts and explore new user needs and industry trends in the ophthalmology field [1][2] - JD Health aims to enhance patient understanding of eye diseases and expand service boundaries for doctors, leveraging its position as a comprehensive retail channel for ophthalmic medications in China [1][2] Industry Trends - The prevalence of eye health issues is rising due to increased use of electronic devices and fast-paced lifestyles, with approximately 2.2 billion people globally facing vision problems according to WHO [1] - Key trends in eye health include the increasing incidence of myopia among youth, widespread dry eye disease, and the combination of visual fatigue with chronic inflammation [2] Digital Health Solutions - JD Health's online platform has integrated nearly 2,000 top-tier ophthalmologists, providing 24/7 online consultation services with an average response time of 30 seconds [2] - The company has seen significant growth in its ophthalmic medication sales, with a compound annual growth rate of 31.7% over the past three years and a year-on-year growth rate of 56.5% in the first five months of 2025 [4] Consumer Behavior - The "New Generation of Eye Health" white paper indicates that consumer demand for ophthalmic medications is characterized by high frequency and diversity, although adherence to treatment remains a challenge [4] - Online channels, particularly internet hospitals, are accelerating the entire process of understanding, researching, and purchasing eye medications, with a reported increase in consultation rates by over 20% [4] Strategic Partnerships - Companies like Zhenzhiming Pharmaceutical and Santen are leveraging JD Health's platform for B2C and O2O business integration, enhancing brand visibility and meeting consumer demands for immediate access to medications [3] - JD Health is positioned as a launch platform for new ophthalmic products, integrating supply chain, logistics, and digital capabilities to meet user needs effectively [5] Future Developments - JD Health plans to expand its supply chain capabilities and enhance its product offerings for various eye conditions, aiming to create a comprehensive eye health protection system that spans prevention, diagnosis, and rehabilitation [6]

Core Viewpoint - The Hong Kong Internet ETF is showing strong performance, with a significant increase in net value and favorable market conditions for technology stocks, particularly in the context of the AI industry transformation [1][2]. Group 1: Market Performance - As of June 4, 2025, the Hong Kong Internet ETF has risen by 0.49%, with notable increases in constituent stocks such as Alibaba Pictures (3.33%) and Xiaomi Group (1.88%) [1]. - The Hong Kong Internet ETF has seen a net value increase of 39.38% over the past year, ranking 143 out of 2831 index stock funds, placing it in the top 5.05% [2]. - The ETF has a historical one-year profit probability of 100% and an average monthly return of 9.47% during the rising months [2]. Group 2: Financial Metrics - The ETF's Sharpe ratio since inception is 1.51, indicating a favorable risk-adjusted return [3]. - The relative drawdown since inception is 4.62% compared to its benchmark [4]. - The management fee is 0.50% and the custody fee is 0.10%, making it one of the lowest in its category [5]. Group 3: Valuation and Composition - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the ETF is 21.67, which is below 90.91% of the historical data over the past year, indicating a low valuation [5]. - The top ten weighted stocks in the index account for 77.23% of the total, with Alibaba-W (18.49%) and Xiaomi Group-W (15.72%) being the most significant [5][7].

Financial Reports - JD Health reported Q1 2025 revenue of 16.645 billion yuan, a year-on-year increase of 25.5% [7] - Alibaba Health achieved a revenue of 30.598 billion yuan for the fiscal year 2025, reflecting a year-on-year growth of 13.2% [8] - New Oxygen Group's Q1 revenue was 297 million yuan, a year-on-year decline of 6.6% [9] E-commerce in Healthcare - JD Health signed a strategic cooperation agreement with China National Pharmaceutical Group to launch two new drugs, marking a new phase of collaboration in the pharmaceutical industry [10] - Yonghe Medical and Meituan Health announced a deepened cooperation focusing on online product upgrades and consumer rights protection [11] - Lei Yun Shang and Meituan Health upgraded their digital cooperation, integrating online and offline medical services [12] Internet Healthcare - Light Health Group's AIcare technology stack received industry recognition at the Future Medical and Pharmaceutical 100 Strong Conference [15] - Alibaba's Damo Academy and Meinian Health signed a strategic cooperation to promote multi-cancer screening using AI technology [16] - Ping An Health and Leksin Medical reached a cooperation agreement to explore innovative paths in smart healthcare [17] Official Releases - The first digital therapy payment policy in China was released by Hainan Province, effective June 1 [20] - The "Quality Management Specification for Online Sales of Medical Devices" was published, set to take effect on October 1 [21] - The Ministry of Industry and Information Technology and six other departments issued the "Implementation Plan for the Digital Transformation of the Pharmaceutical Industry (2025-2030)" [22] User Rights Protection - A report identified 52 apps, including Yipoo and Health World, that violated user rights, as part of a national initiative to protect personal information [19]

Group 1 - The "Healthy Childhood, Nurturing the Future" 2025 Children's Health Science Popularization Initiative was launched by JD Health in Beijing, with participation from pediatric experts and representatives from various pharmaceutical companies [1][2] - JD Health aims to provide scientific parenting support by utilizing internet hospitals to conduct live broadcasts on topics such as flu prevention, nutritional supplementation, and psychological growth during Children's Day [1][2] - The initiative addresses the increasing demand from parents for children's health management due to changes in living environments and lifestyles, with JD Health focusing on reducing illness and ensuring safer medication for children [1][2] Group 2 - JD Health has established a comprehensive pediatric medication supply chain covering various categories, including gastrointestinal, respiratory, and rare disease medications, to meet diverse family health needs [2] - The company plans to expand its pediatric medication offerings by introducing inhalants and granules specifically for children, as well as prescription drugs and innovative treatments, enhancing the accessibility of local medications [2] - JD Health intends to leverage its leading position in online health consumption to provide data support for the development, production, and sales of children's medications, while also offering CRM tools to pharmaceutical companies for better user service [2][3] Group 3 - JD Health will utilize its self-developed "JD Medical Inquiry" AI model to assist hospitals and medical institutions in building a comprehensive management platform for pediatric diseases, enhancing educational outreach through AI digital personas [3]

在六一儿童节来临之际,5月29日,"健康童行·育见未来"2025儿童健康科普行动启动会在京举行。本次科 普行动由京东健康发起、人民健康支持,国内儿科领域权威专家、医疗机构代表,以及来自哈药集团、葵 花药业、双鲸药业、江中药业、罗氏制药、泽德曼等药企负责人参加了此次启动会。 据了解,在今年儿童节期间,京东健康将联合上海交通大学医学院附属上海儿童医学中心、广州医科大学 附属妇女儿童医疗中心等权威机构专家,通过京东互联网医院开启系列科普直播,用通俗易懂的语言普及 儿童流感防治、营养补充、心理成长等方面的知识,更好地为广大家庭提供科学育儿支持。 今年六一儿童节期间,京东健康将启动"中国儿童关爱计划",家长通过京东APP搜索"中国儿童关爱计划", 添加企业微信进入私域后,即可免费享受7*24小时咨询服务,与更多家长交流育儿经验。 作为积极践行中国儿童用药安全的品牌,葵花药业精品儿药事业群总经理魏胜利表示,不为利来,不为利往, 小葵花要做有责任的品牌,而非只赚钱的品牌。 泽德曼董事长陈庚辉博士讲述了21年科研探索和12年临床实践的"破茧之路",以及用原创科研力量,守护 湿疹患儿健康的故事。他表示,希望打造更多创新成果,让 ...

京东健康作为行业领先的医疗健康服务企业，拥有庞大的用户基础，并构建了完善的医疗健康服务体 系，包括在线问诊、药品配送、健康管理等一站式服务。这些优势将有助于显著提升八珍益母片新品的 市场覆盖率和用户触达率。 京东健康医药业务部相关负责人表示，京东健康一直致力于为消费者提供优质的医药健康产品和服务， 八珍益母片作为妇科领域的经典中成药，赢得了广泛的市场认可。相信通过双方的携手合作，将帮助更 多女性用户便捷获取这一优质产品，让传统中医药更好地满足现代女性的健康需求。 编辑：王菁 此次在京东健康线上首发的千金八珍益母片新品，精选当归、党参、川芎、熟地黄、童子益母草等九味 道地药材，配合超微粉碎等现代技术，确保药材活性成分保留率超90%，生物利用度提升68%。同时， 通过专利工艺处理，使芍药苷等有效成分含量达到国家药典标准的2.3倍，显著提升了药物疗效。 临床试验数据显示，针对月经量少（＜20ml／周期）、经血色淡、经期延长（＞7天）伴面色萎黄、乏 力懒言等典型气血两虚证候，千金八珍益母片新规产品总有效率达91.2%。此外，产品不仅适用于产 后、更年期、术后等气血亏虚状态，还为职场白领、健身达人、节食减肥人群提供亚健 ...

Group 1 - The event "Happy Heart Universe: Happiness Exchange" was held on National Mental Health Day, attracting over 3,000 participants, including university students and teachers from affiliated primary and secondary schools [1][2] - The collaboration between Beijing Jiaotong University and JD Health aims to enhance mental health awareness and create a positive campus environment through interactive games and activities [1][2] - The "Rainbow Hug" campus run was a highlight, with over 400 students participating, showcasing a vibrant and dynamic atmosphere [2] Group 2 - The importance of mental health for students is emphasized, with 80% of their time spent online, and the university aims to provide more channels for psychological assistance through "Internet+" initiatives [3] - JD Health has established a comprehensive mental health service system across multiple universities, offering a full-service loop from assessment to treatment [4] - The integration of over 6,000 psychiatrists and 2,000 psychological counselors supports the provision of both online and offline mental health services for students [4] Group 3 - JD Health plans to continue exploring new models and pathways for campus mental health services by connecting schools, medical institutions, and families [5]

Core Points - The launch of the new 18.4g box of Longhu Brown Cooling Oil on JD Health marks a significant step for the century-old brand, leveraging JD Health's multi-channel advantages to enhance consumer purchasing experience and promote summer health [1] - Longhu Brown Cooling Oil is a well-known household remedy in China, recognized for its unique formula and effectiveness, maintaining its position as a leading brand in the cooling oil market for several consecutive years [1] - The new product offers various functions including cooling, refreshing, and pain relief, addressing discomfort from symptoms such as headaches, heatstroke, motion sickness, and insect bites [1] - The inclusion of precious ingredients like "Xuejie" (Dragon's Blood) enhances its effectiveness in relieving itching and pain, as noted in traditional Chinese medicine [1] - JD Health aims to utilize its comprehensive channel advantages and healthcare service capabilities to increase the product's market reach and brand influence [1] Company and Industry Insights - JD Health is committed to providing high-quality pharmaceutical and health products, collaborating with Longhu Brown Cooling Oil to ensure consumers can conveniently purchase this classic product [2] - The upcoming JD Health 618 shopping event coincides with the summer season, creating a timely opportunity for consumers to purchase cooling oil at discounted prices through the JD app [2]

Core Insights - The rising COVID-19 positivity rate across multiple regions in China highlights the importance of early detection and intervention for respiratory diseases [1] - JD Health's "medical, testing, diagnosis, and medication" one-stop service is transforming how users manage their health, allowing them to receive comprehensive care without leaving home [3] Group 1: Service Adoption and Growth - The volume of consultations related to fever on JD Internet Hospital increased by 20% week-over-week from May 14 to May 20 [4] - Orders for respiratory pathogen testing through JD's fast testing service doubled during the same period [4] - Orders for flu-related medications on JD's online pharmacy surged by over 80%, with sales of specific COVID-19 treatment drugs increasing by 3.5 times [4] Group 2: User Experience and Future Plans - JD Health's closed-loop service model allows users to consult doctors online, conduct tests at home, receive medications at home, and access nursing services, making it a preferred choice for health issues [6] - Users can seamlessly connect to the entire process of consultation, testing, diagnosis, and medication through the JD app, ensuring quick identification of health issues and precise medication [6] - JD Health plans to continuously optimize its service processes to provide more efficient and diverse healthcare services to the public [6]