近日，叮当健康（09886.HK）宣布与礼来集团（以下简称"礼来"）达成合作，继北京地区之后，叮当 健康在广州、深圳的药房正式上架替尔泊肽注射液（穆峰达）。 从经营业绩看，8月22日晚间，叮当健康发布的2025年上半年业绩报告显示，上半年，公司录得收入 23.27亿元，同比增长2.6%。毛利为8.16亿元，毛利率为35%。期内亏损5202万元，相较于2024年同期亏 损收窄42.1%；经调整后的净利润亏损575.9万元，相较于2024年同期亏损收窄78.2%。 对此，叮当健康方面表示，依托礼来卓越的创新药产品、专业的健康科普能力，以及叮当健康广泛的多 功能智慧药房网络、端到端智能仓配体系、专业医生药师服务团队、全生命周期健康管理体系，双方将 共同为超重/肥胖、糖尿病等人群带来一站式健康解决方案，提升用药可及性和健康管理水平。 公告披露，收入同比增加，得益于公司优化城市布局，聚焦和深耕优势区域，将北京、上海、深圳等城 市建设成"居民最佳健康服务入口"，积极拓展并加密布局当地智慧药房网络，带来业务较好增长。此 外，公司在药品及商品布局方面，提升供应链服务水平，整体经营效率提升显著。同时，精细化运营与 持续降本增效 ...

公开资料显示，叮当健康在全国构建华北、华东、华南、华中四大智能仓助力供应链提效，其拣选效率 提升80%的同时，降低人力成本30%，快速赋能周边叮当智慧药房。叮当智慧药房"星垣系统" 构建起覆 盖全业务链条的智能矩阵：天眼智址系统通过电子围栏技术将单店服务半径从500米拓展至5公里；千寻 分拣系统可实现药品10 余秒快速分拣扫码；叮当智慧药房的数字化升级，推动单店运营效率大幅提 升，坪效提升3至4倍，人效5倍，单店营收超10倍。 同时，该公司在北京、上海、深圳推出冷链到家服务，保障需冷链配送药品的品质。为了保障用药安 全，该公司持续加强叮当多功能智慧药房药师展开系统化培训，提升叮当专业服务能力。 据报道，替尔泊肽(穆峰达)8月在叮当健康旗下药房北京、广州、深圳三地上架，该款药品为礼来旗下 产品。 体重管理是关系国民健康的重大健康事业。2025年国家卫健委启动为期3年的"体重管理年"行动，预计 2025年中国体重管理市场规模有望达到215亿元。 叮当健康今年以来动作不断。据不完全统计，该公司今年3月，与银诺医药达成合作，原研依苏帕格鲁 肽a正式在叮当健康上架；7月与诺和诺德达成合作，上架体重管理版司美格鲁肽，共同 ...

（文章来源：每日经济新闻） 每经AI快讯，9月9日，港股互联网医疗板块走高，叮当健康、阿里健康涨超6%，京东健康、平安好医 生跟涨。 ...

Core Insights - Dingdang Health Technology Group has partnered with Eli Lilly to launch Tirzepatide injection (Mounjaro) in pharmacies in Guangzhou and Shenzhen, following its initial rollout in Beijing [2] - The collaboration aims to provide a one-stop health solution for overweight/obese and diabetic populations, enhancing medication accessibility and health management [2] - Eli Lilly is recognized as a leading global pharmaceutical company with significant achievements in diabetes, obesity, Alzheimer's disease, immune disorders, and oncology [2] - Dingdang Health is focused on building a smart health service platform and enhancing digital service capabilities, establishing four smart warehouses nationwide and strengthening cold chain delivery services in major cities [2] - The partnership is expected to improve the accessibility of original research drugs in the Chinese market, benefiting local patients [3] Company and Industry Developments - Dingdang Health is enhancing its supply chain and digital service levels to create an integrated management model combining instant drug retail, health education, and digital services [2] - The launch of the "Original Drug Supply Alliance" by Dingdang Health aims to meet diverse medication needs and expand the availability of original research drugs in China [3]

Group 1 - The core viewpoint of the news highlights a significant rise in Hong Kong's internet healthcare stocks, particularly Ping An Good Doctor, which saw an increase of over 16%, reaching a new high [1] - Companies like Ping An Good Doctor, Alibaba Health, JD Health, and WeDoctor are increasingly investing in AI, which is believed to provide greater capital imagination and allow these platforms to move away from low-margin businesses such as selling drugs, advertising, and appointment bookings [1] - The National Healthcare Security Administration has included AI-assisted diagnosis in the pricing structure, indicating a policy shift that could reshape the cost structure, service radius, and business models in the healthcare industry over the next decade [1] Group 2 - Stock performance data shows that Ping An Good Doctor is priced at 22.740 with an increase of 8.39%, Ark Health at 4.220 with a rise of 6.03%, Alibaba Health at 6.310 with a gain of 3.27%, Dingdang Health at 0.810 with an increase of 2.53%, and JD Health at 63.750 with a rise of 1.11% [2]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 叮噹健康科技集團有限公司(於開曼群島註冊成立的有限公司) 呈交日期: 2025年9月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 09886 | 說明 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 5,000,000,000 | USD | | 0.0001 USD | | 500,000 | | 增加 / 減少 (-) | | | 0 | | USD | | | | 本月底結存 | | 5,000,000,000 | USD | | 0.0001 USD | | 500,000 | 本月底法定/註冊股本總額： USD 500, ...

Group 1: Financial Performance - Company reported a revenue of 2.327 billion yuan for the first half of 2025, representing a 2.6% increase compared to 2.268 billion yuan in the same period last year [1] - Losses narrowed by 42.1% compared to the same period in 2024, with adjusted net losses reduced by 78.2% [1] - Improvement attributed to increased gross margin and optimized administrative expenses, indicating effective results from the company's smart transformation efforts [1] Group 2: Smart Pharmacy Initiatives - Company continues to invest in smart pharmacy construction, with the introduction of intelligent drug sorting and scanning devices [2] - These devices utilize machine vision technology and cloud computing, completing sorting and scanning of a single drug in under 10 seconds [2] - Nearly half of the orders are currently completed by smart devices, with plans for further increases in sorting efficiency [2] Group 3: "Xingyuan System" Capabilities - The proprietary "Xingyuan System" supports various subsystems, enhancing the smart pharmacy's operational capabilities [3] - The "Tianyan Zhizhi" feature optimizes site selection, expanding service range from 500 meters to 5 kilometers [3] - The use of robotic collaboration in four major intelligent warehouses has improved picking efficiency by 80% and reduced labor costs by 30% [3] Group 4: AI Technology in Service Optimization - Company has developed AI products such as Smart Little Dingdang, Health GPT, and AI consultation assistants to enhance user service efficiency [4] - Smart Little Dingdang can address over 80% of medication consultation queries using advanced models [4] - These technologies not only improve user experience but also help the company accumulate valuable data resources [4]

Core Viewpoint - Dingtang Health reported a revenue of 2.327 billion yuan for the first half of 2025, reflecting a year-on-year growth of 2.6%, with a significant reduction in losses compared to the previous year [1][2] Financial Performance - Revenue for the first half of 2025 was 2.327 billion yuan, up 2.6% year-on-year [1] - Gross profit reached 816 million yuan, with a gross margin of 35% [1] - The company incurred a loss of 52.02 million yuan, a 42.1% improvement compared to the same period in 2024 [1] - Adjusted net profit loss was 5.759 million yuan, narrowing by 78.2% year-on-year [1] Business Strategy and Operations - The revenue increase was attributed to optimized city layouts and a focus on key regions, particularly in major cities like Beijing, Shanghai, and Shenzhen [1] - The company is enhancing its smart pharmacy network and improving supply chain services, leading to significant operational efficiency gains [1] - Dingtang Health's fast drug business showed steady growth, and the company is leveraging omnichannel retail to reach users effectively [1] Strategic Initiatives - Dingtang Health is accelerating its strategic upgrade with the A-LL dual-driven growth model, launching initiatives like the "Original Drug Supply Alliance" and "New Special Drug Lifeboat Plan" [2] - The company is focusing on technological innovation, upgrading its multi-functional smart pharmacies, and optimizing its operational systems [2] - Future strategies include advancing user lifecycle health management and expanding the smart center warehouse construction to integrate wholesale and retail operations [2]

Core Insights - Dingdang Health (09886) reported a revenue of RMB 2.327 billion for the six months ending June 30, 2025, representing a year-on-year increase of 2.6% [1] - The company recorded a loss attributable to owners of RMB 51.671 million, a reduction of 38.84% compared to the previous year [1] - Basic loss per share was RMB 0.04 [1] Revenue Growth - The increase in total revenue is attributed to the company's optimization of urban layout, focusing on key regions, and establishing cities like Beijing, Shanghai, and Shenzhen as "the best health service entry points for residents" [1] - The company actively expanded and densified its local smart pharmacy network, contributing to business growth [1] Operational Efficiency - The company improved its supply chain service levels in the layout of drugs and goods, leading to a significant enhancement in overall operational efficiency [1] - The narrowing of losses and improvement in performance were supported by an increase in gross margin to 35.0%, up by 1.9 percentage points year-on-year [1] - The effectiveness of refined operations and continuous cost reduction efforts resulted in a notable improvement in profitability [1]

Core Insights - Dingdang Health (09886.HK) reported total revenue of RMB 2,326.9 million for the six months ending June 30, 2025, representing a year-on-year increase of 2.6% [1] - The revenue growth is attributed to the optimization of urban layout, focusing on key regions, and enhancing local smart pharmacy networks in cities like Beijing, Shanghai, and Shenzhen [1] - The company's net loss narrowed to RMB 52.0 million, with adjusted net loss at RMB 5.8 million; excluding foreign exchange losses of RMB 4.1 million, the loss would further reduce to RMB 1.7 million [1] - The improvement in loss is linked to an increase in gross margin to 35.0%, up by 1.9 percentage points year-on-year, alongside effective cost reduction and operational efficiency measures [1] Revenue Performance - Total revenue for the six months ending June 30, 2025, was RMB 2,326.9 million, a 2.6% increase compared to the previous year [1] - The growth in revenue is driven by strategic urban development and enhanced service offerings in key metropolitan areas [1] Profitability Metrics - The net loss for the period was reduced to RMB 52.0 million, with an adjusted net loss of RMB 5.8 million [1] - The gross margin improved to 35.0%, reflecting a 1.9 percentage point increase year-on-year, indicating better profitability [1] - Cost control measures and operational improvements have significantly enhanced the company's profitability [1]