Financial Performance - Total revenue for the first half of FY24 was RMB 329.4 million, a decrease of 7.6% compared to RMB 356.5 million in FY23[11]. - Gross profit for the first half of FY24 was RMB 117.4 million, down 13.8% from RMB 136.2 million in FY23[11]. - The company's loss narrowed to RMB 56.4 million, a year-on-year reduction of 29.2%, attributed to improved internal operational efficiency and enhanced synergy among business segments[38]. - Revenue decreased by 7.6% from RMB 356.5 million for the six months ended September 30, 2023, to RMB 329.4 million for the six months ended September 30, 2024[94]. - Revenue from life sciences solutions decreased by 15.0% from RMB 170.2 million to RMB 144.6 million, primarily due to challenging external conditions[95]. - Revenue from health management platform solutions decreased by 12.4% from RMB 58.4 million to RMB 51.1 million, mainly due to changes in product mix[95]. - Overall gross profit decreased from RMB 136.2 million to RMB 117.4 million, with gross margin declining from 38.2% to 35.6%[98]. - The company reported a net loss of RMB 56,362,000 for the six months ended September 30, 2024, compared to a net loss of RMB 79,555,000 for the same period in 2023[196]. Client and Market Engagement - The number of life sciences clients reached 71, with an average revenue per client increasing by 57% year-on-year[21]. - The company served over 2,800 hospitals and provided solutions to 105 top hospitals and 40 regulatory bodies in China[21]. - The revenue retention rate for the top 10 clients was 117.45%, indicating strong customer loyalty[21]. - Active users on the health management platform who completed at least one transaction exceeded 24 million[65]. - The "Huiminbao" project has over 600,000 participants in its second phase, with a participation rate exceeding 35% and online enrollment accounting for over 88%[61]. Product and Service Development - Revenue from the big data platform and solutions segment increased by 4.5% to RMB 133.7 million, while the life sciences solutions segment saw a decline of 15.0% to RMB 144.6 million[11]. - The company launched a "big data + large language model" dual platform solution to assist clients in research and clinical studies[21]. - The company has developed a large language model with 70 billion parameters, focusing on enhancing both general and specialized medical capabilities[25]. - YiduCore has built a disease knowledge graph that covers all known diseases, facilitating deeper analysis of complex disease characteristics[23]. - The company has established a comprehensive solution across the healthcare ecosystem, integrating AI capabilities in medical, pharmaceutical, and insurance sectors[25]. Operational Efficiency - Operating loss improved by 30.7% to RMB 54.3 million, compared to a loss of RMB 78.3 million in the same period last year[11]. - Sales and marketing expenses decreased by 30.1% to RMB 72.4 million, representing 22.0% of revenue, down from 29.1% in the previous period[106]. - Administrative expenses decreased by 3.7% to RMB 57.2 million, with the percentage of revenue increasing from 16.7% to 17.4%[107][108]. - R&D expenses decreased by 9.6% from RMB 103.6 million to RMB 93.7 million, attributed to reduced employee benefits and expenses[101]. - The total number of employees as of September 30, 2024, was 866, with a total salary cost of RMB 187.7 million, down from RMB 262.5 million in the previous period[115]. Corporate Governance and Shareholder Information - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[140]. - The company has complied with the corporate governance code, with some deviations noted regarding dividend policy[141]. - The company has a total of 418,565,575 shares held by Ms. Gong and Mr. Xu, representing 39.42% of the equity[134]. - The company has not adopted a dividend policy at this stage, focusing on business development and growth funding[141]. - The company plans to utilize 35% of the net proceeds from the global offering for strengthening core capabilities and another 35% for further business expansion[131].

Summary of Conference Call Records Company and Industry Overview - The conference call discusses a company operating in the healthcare and medical technology sector, focusing on data-driven solutions for hospitals, research institutions, and government agencies. The company emphasizes its advancements in AI and big data applications in healthcare. Core Points and Arguments - The company has provided over 100 sports programs to Chinese sports hospitals, with liabilities exceeding $28 million as of September 30, 2020, indicating financial challenges due to the pandemic [1] - The company has developed a large model for medical applications, achieving extensive use in healthcare, pharmaceuticals, and health insurance sectors, showcasing a decade of experience in creating integrated solutions [2] - A private data model is being constructed for hospital clients, enhancing their data capabilities through customized services, which is crucial for improving regional healthcare services [3] - The large model aids in drug development, enhancing efficiency and safety in clinical trials, indicating a significant role in the pharmaceutical industry [4] - The company provides comprehensive intelligent healthcare services, from health consultations to intelligent medical examinations, improving patient care and operational efficiency [5] - Revenue from the health management platform decreased by 12.4%, attributed to ongoing adjustments in product offerings, while gross margins varied across different segments [6] - Operating expenses as a percentage of revenue have decreased, reflecting improved operational efficiency, with adjusted selling expenses dropping from 27% to 22% [7] - The company maintains a strong cash reserve of approximately RMB 3.74 billion, with a focus on stock buybacks and financial stability [8] - The big data platform generated RMB 134 million in revenue, a 7.5% increase, indicating growth in data-driven solutions for healthcare [9] - The company has participated in over 20 significant medical research projects, enhancing its reputation in clinical research and data analysis [11] - The company has implemented health management solutions in major Chinese cities, contributing to public health initiatives and demonstrating industry leadership [12] - Revenue from biological science solutions decreased by 15%, but the company focuses on high-quality customer engagement and improving client retention rates [13] - The company has made significant advancements in clinical research, completing 368 studies and achieving a 57% increase in pricing for high-demand indications [14] - The integration of AI in health management solutions has improved efficiency, with over 85% of customer interactions being handled by AI, significantly enhancing service delivery [17] - The company aims to provide personalized health management experiences through advanced AI technologies, targeting over 5 million users with tailored health services [18] Other Important but Possibly Overlooked Content - The company emphasizes the importance of data quality and security in healthcare, positioning data as a key driver of the data economy [3] - The integration of AI and big data platforms is seen as a way to enhance the usability of medical data and improve decision-making processes in healthcare settings [10] - The company is focused on maintaining a competitive edge in the healthcare sector by continuously innovating and improving service offerings [9][11]

Financial Data and Key Metrics Changes - The total revenue for the first half of the fiscal year 2025 was RMB 329 million, a decrease of 7.6% compared to the same period last year [5] - The adjusted EBITDA for existing business management shifted from a loss of RMB 890,000 in the same period last year to a profit of RMB 2.732 million, marking the best performance in historical terms [6] - The net loss narrowed from RMB 79.56 million in the same period last year to RMB 56.36 million, a reduction of 29.2% [6] Business Line Data and Key Metrics Changes - Revenue from the big data platform and solutions increased by 4.5% year-on-year [6] - Revenue from life sciences solutions decreased by 15.0% due to external environmental challenges [6] - Revenue from health management platform and solutions declined by 12.4% as the company focused on product portfolio adjustments [6] Market Data and Key Metrics Changes - The company has established a strong presence in the healthcare sector, providing data-driven solutions to regulatory agencies and policymakers across 30 cities and provinces [11] - The company has successfully implemented benchmark projects in major Chinese cities, enhancing its market leadership [12] Company Strategy and Development Direction - The company is focusing on AI-driven solutions across multiple business scenarios, including healthcare, pharmaceuticals, and health insurance [2] - The strategy includes developing public and private versions of AI models tailored for different user needs, enhancing user innovation and platform diversity [2][3] - The company aims to leverage its data governance capabilities to drive the data economy, particularly in healthcare [3] Management's Comments on Operating Environment and Future Outlook - Management believes that the current stock price is significantly undervalued and has engaged in stock buybacks to support the share price [8] - The company is optimistic about its future growth prospects, particularly in the healthcare sector, driven by its innovative AI solutions [8] Other Important Information - The company has accumulated a significant amount of medical data, which is crucial for its algorithmic models and applications [9] - The company has a strong client base in the life sciences sector, with 71 clients, including 16 of the top 20 multinational pharmaceutical companies [13] Q&A Session Summary Question: What are the company's future growth strategies? - The company plans to enhance its AI capabilities and expand its applications in healthcare, pharmaceuticals, and insurance sectors, focusing on user-driven solutions [2][3] Question: How does the company view its current stock valuation? - Management believes the stock is undervalued and has initiated buybacks to support the share price, indicating confidence in future performance [8] Question: What are the key challenges faced in the life sciences segment? - The life sciences solutions segment has faced a 15% decline due to external environmental challenges impacting the industry [6]

Topic 1: Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the Asia-Pacific region [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8% due to increased marketing and R&D investments [3]. Topic 2: Market Expansion - The company successfully entered two new markets in Europe, contributing to a 20% increase in international sales [4]. - A new distribution center was opened in South America to support regional growth [5]. - Strategic partnerships were formed with local retailers in Southeast Asia to enhance market penetration [6]. Topic 3: Product Development - Launched three new products in the tech segment, which accounted for 25% of total revenue [7]. - R&D spending increased by 10% to accelerate innovation in the healthcare sector [8]. - A new line of eco-friendly products was introduced, receiving positive customer feedback [9]. Topic 4: Operational Efficiency - Implemented a new ERP system, reducing operational costs by 5% [10]. - Streamlined supply chain processes, resulting in a 15% reduction in delivery times [11]. - Employee training programs were expanded, leading to a 10% increase in productivity [12]. Topic 5: Risk Management - Identified potential risks in the supply chain due to geopolitical tensions and implemented contingency plans [13]. - Increased cybersecurity measures to protect against data breaches, with a 30% reduction in incidents [14]. - Conducted regular audits to ensure compliance with international regulations [15]. Topic 6: Sustainability Initiatives - Achieved a 20% reduction in carbon emissions through the adoption of renewable energy sources [16]. - Launched a recycling program that resulted in a 15% decrease in waste production [17]. - Committed to achieving net-zero emissions by 2030, with interim targets set for 2025 [18].

Financial Performance - Total revenue for FY2024 reached RMB 807.1 million, a slight increase of 0.3% compared to FY2023[3] - Annual loss narrowed to RMB 221.2 million, a 65.0% reduction compared to FY2023[5] - Total revenue increased slightly from RMB 804.7 million in FY2023 to RMB 807.1 million in FY2024, a growth of 0.3%[20] - Revenue from Big Data Platform and Solutions surged by 41.4% from RMB 221.9 million in FY2023 to RMB 313.6 million in FY2024[20] - Life Sciences Solutions revenue grew by 28.1% from RMB 252.9 million in FY2023 to RMB 324.0 million in FY2024[20] - Health Management Platform and Solutions revenue declined by 48.7% from RMB 329.9 million in FY2023 to RMB 169.5 million in FY2024 due to product portfolio focus[20] - Overall gross margin improved from 34.1% in FY2023 to 42.1% in FY2024[23] - Big Data Platform and Solutions maintained a stable gross margin of 43.7% in FY2024[23] - Life Sciences Solutions gross margin increased significantly from 17.5% in FY2023 to 32.1% in FY2024[23] - Health Management Platform and Solutions gross margin rose from 40.7% in FY2023 to 58.1% in FY2024[23] - Operating loss decreased by 65.1% from RMB 630.0 million in FY2023 to RMB 219.9 million in FY2024[27] - Annual loss decreased by 65.0% from RMB 632.4 million in FY2023 to RMB 221.2 million in FY2024[28] - Non-IFRS adjusted net loss decreased from RMB 448.7 million in FY2023 to RMB 158.1 million in FY2024[30] - Revenue from customer contracts in 2024 was RMB 807,076 thousand, slightly up from RMB 804,700 thousand in 2023[52] - Gross profit increased to RMB 339,445 thousand in 2024 from RMB 274,530 thousand in 2023[52] - Operating loss improved to RMB 219,919 thousand in 2024 from RMB 630,049 thousand in 2023[52] - Net loss for the year was RMB 221,242 thousand in 2024, compared to RMB 632,361 thousand in 2023[52] - Other comprehensive income for the year was RMB 94,812 thousand in 2024, down from RMB 300,056 thousand in 2023[53] - Basic loss per share improved to RMB (0.19) in 2024 from RMB (0.63) in 2023, reflecting a 69.8% improvement[73] Cash and Investments - Cash and cash equivalents, term deposits, and restricted bank balances totaled RMB 3,409.9 million, remaining stable compared to the previous year[5] - Cash and cash equivalents, term deposits, margin bank deposits, restricted bank balances, and deposits were RMB 3,522.0 million in FY2023 and RMB 3,409.9 million in FY2024[33] - The company invested USD 5.6 million in YD Capital I L.P. during FY2024, with a total commitment of USD 40.0 million[34] - Investment commitments as of March 31, 2024, were RMB 256.6 million, primarily related to the remaining commitment to YD Capital I L.P.[38] - The company utilized RMB 2,225 million of the net proceeds from the global offering as of March 31, 2024[50] - 35% of the net proceeds (RMB 1,339 million) were allocated to strengthening core capabilities, with RMB 633 million still unused as of March 31, 2024[49] - 35% of the net proceeds (RMB 1,339 million) were allocated to further business expansion, with RMB 130 million still unused as of March 31, 2024[49] - 20% of the net proceeds (RMB 765 million) were allocated to strategic partnerships, investments, and acquisitions, with RMB 712 million still unused as of March 31, 2024[49] - The company expects to fully utilize the net proceeds by March 31, 2025[50] - Cash and cash equivalents increased from RMB 1,172,793 thousand in 2023 to RMB 1,407,620 thousand in 2024[54] Business Segments and Operations - YiduCore processed and analyzed over 5 billion medical records from more than 1 billion patient visits[6] - The company served 102 top-tier hospitals in China and 43 regulatory agencies, covering over 2,500 hospitals[7] - Life science solutions segment achieved a 151.1% revenue retention rate for top 10 customers, a 60.6% increase year-over-year[7] - Active users on the health management platform reached 27.6 million, with at least one transaction completed[7] - The company completed training of large language models with 6B, 13B, and 70B parameters, focusing on medical verticals[6] - YiduCore's medical knowledge graph covers over 100,000 medical entities and has established precise disease models for more than 80 disease areas[8] - YiduCore's large language model achieved the highest overall score in the MedBench evaluation, ranking first in medical knowledge Q&A, medical language understanding, and medical safety and ethics[9] - The company provided 24/7 health management services to over 5 million users through its large language model[9] - The big data platform and solutions segment revenue increased by 41.4% year-over-year to RMB 313.6 million[10] - The number of top-tier hospital clients increased by 14 to 102, and the number of regulatory and policy-making clients increased by 9 to 43[10] - The research platform products reduced the traditional 6-12 month research cycle to 2-6 months, with a further 50% speedup enabled by the large language model[11] - The company secured a contract worth over RMB 8 million for the regional medical data center project at Peking University Cancer Hospital Inner Mongolia Hospital[11] - The national major public health event medical center big data platform completed construction and entered operation, supporting over 2,000 research projects[12] - The company won a regional medical intelligence platform project in a southern Chinese city, covering over 50 medical institutions with a total contract value exceeding RMB 40 million[13] - The company assisted in building a regional-level smart medical big data base in an eastern Chinese city, with a contract value close to RMB 8 million[13] - Life Science Solutions segment revenue reached RMB 324.0 million, a year-on-year increase of 28.1%, with gross margin improving by 14.6 percentage points to 32.1%, a historical high[14] - Top 10 customers' revenue retention rate was 151.1%, and the average customer spending increased by 75.4% year-on-year[14] - Completed 321 clinical studies, including both pharmaceutical company-initiated and investigator-initiated trials, and covered over 10,000 patient populations[14] - Remote Intelligent Clinical Trial System Platform (DCT) was applied in multiple projects, including a Phase III clinical trial for Sumitomo Pharma, winning the "2023 China DCT Practice Top 10 Case Award"[14] - Health Management Platform and Solutions segment revenue was RMB 169.5 million, a year-on-year decrease of 48.7%, with gross margin improving by 17.4 percentage points to 58.1%[16] - The company served 4 provinces and 12 cities in the "Huimin Insurance" business, with over 90% of users located in China's top 15 GDP-ranked provincial regions[16] - In Shenzhen, the company underwrote over 6 million "Shenzhen Huimin Insurance" policies, with a participation rate exceeding 35%[17] - AI-powered customer service handled over 80% of claims, achieving second-level responses and improving efficiency by 50%-70% compared to traditional methods[17] - The diabetes digital therapy solution managed nearly 4,000 patients in Hainan, with fasting blood glucose compliance rate increasing by 11% and postprandial blood glucose compliance rate increasing by 12%[17] - Active users on the health management platform who completed at least one transaction increased to 27.6 million by March 31, 2024[17] - Customer contract revenue for the Big Data Platform and Solutions segment was RMB 313,634 thousand in 2024[68] - Gross profit for the Life Sciences Solutions segment was RMB 104,046 thousand in 2024[68] - Total revenue for the Health Management Platform and Solutions segment was RMB 169,398 thousand in 2024[68] - Revenue from China accounted for 86% of total revenue in 2024, compared to 77% in 2023[68] Expenses and Costs - Sales and marketing expenses decreased by 23.1% from RMB 271.6 million in FY2023 to RMB 208.9 million in FY2024[24] - Sales and marketing expenses as a percentage of revenue dropped from 33.8% in FY2023 to 25.9% in FY2024[24] - Administrative expenses decreased by 26.2% from RMB 232.0 million in FY2023 to RMB 171.3 million in FY2024, primarily due to reduced employee benefits and expenses for administrative functions[25] - R&D expenses decreased by 32.0% from RMB 342.5 million in FY2023 to RMB 232.9 million in FY2024, mainly due to reduced employee benefits and expenses for R&D functions[26] - Total expenses for sales and service costs, sales and marketing expenses, administrative expenses, and R&D expenses decreased to RMB 1,080,767 thousand in 2024 from RMB 1,376,315 thousand in 2023, a reduction of 21.5%[70] - Employee benefit expenses increased to RMB 566,252 thousand in 2024 from RMB 777,702 thousand in 2023, a decrease of 27.2%[70] - Outsourcing service fees rose to RMB 239,834 thousand in 2024 from RMB 184,059 thousand in 2023, an increase of 30.3%[70] - Current income tax expense decreased to RMB (2) thousand in 2024 from RMB 2,529 thousand in 2023, a significant reduction[71] Assets and Liabilities - Total assets decreased from RMB 4,911,508 thousand in 2023 to RMB 4,824,198 thousand in 2024[54] - Trade receivables increased from RMB 474,498 thousand in 2023 to RMB 496,367 thousand in 2024[54] - Total equity decreased from RMB 4,156,151 thousand in 2023 to RMB 4,091,993 thousand in 2024[56] - Total liabilities decreased from RMB 755,357 thousand in 2023 to RMB 732,205 thousand in 2024[58] - The company's non-current assets are primarily located in China and Brunei[68] - Trade receivables increased to RMB 665,995 thousand in 2024 from RMB 581,506 thousand in 2023, a growth of 14.5%[74] - Trade receivables within 3 months increased to RMB 278,888 thousand in 2024 from RMB 239,847 thousand in 2023, a 16.3% rise[75] - Trade payables decreased to RMB 170,373 thousand in 2024 from RMB 160,426 thousand in 2023, a 6.2% increase[77] Employee and Payroll - Total employee count was 902 as of March 31, 2024, with 455 employees in Beijing, 103 in Shanghai, and 344 in other offices in China and overseas[39] - Total payroll costs for FY2024 were RMB 566.3 million, down from RMB 777.7 million in FY2023[40] Dividends and Reporting - No dividends were declared or paid for the years ended March 31, 2024, and 2023[79] - The annual report for the fiscal year ended March 31, 2024, will be published on the Hong Kong Stock Exchange website and the company's website[80]

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