AI开方，年轻人看病：问止中医头顶超4亿亏损二闯IPO，背后投诉有点多

Core Viewpoint - The company, Wanzhi Traditional Chinese Medicine, is attempting to leverage AI technology in traditional Chinese medicine, but faces challenges related to efficacy, significant financial losses, and concerns over the qualifications of its young medical staff [2][10]. Company Overview - Wanzhi Traditional Chinese Medicine was established in 2018 and focuses on AI-assisted traditional Chinese medical diagnosis and treatment [2]. - The company claims to be the largest provider of AI-assisted traditional Chinese medical services in mainland China, with market shares of 1.5% and 1.3% for 2023 and 2024, respectively [2]. - Wanzhi operates eleven physical clinics and four herbal medicine preparation centers across various cities in China [2]. Financial Performance - The company reported revenues of RMB 62.169 million, RMB 189 million, RMB 236 million, and RMB 100 million for the years 2022 to 2025, with nearly 90% of revenue coming from online services [3]. - Cumulative losses exceeded RMB 400 million over the reporting period, with losses of RMB 154 million, RMB 194 million, RMB 45.367 million, and RMB 43.841 million for the respective years [3]. Medical Staff and AI System - The average age of the medical staff is 30, with all 93 full-time physicians utilizing the proprietary AI-assisted diagnostic system known as "Traditional Chinese Medicine Brain" [4][9]. - The AI system is claimed to be the first and only one in mainland China to have undergone clinical consistency studies and expert reviews [4]. Patient Concerns and Complaints - There are significant patient complaints regarding the effectiveness of treatments, with issues such as ineffective medication and excessive medical procedures being reported [10][12]. - Complaints on platforms indicate dissatisfaction with treatment outcomes and concerns about the transparency and integrity of the company's practices [10][12].