Core Insights - The article discusses the challenges faced by Meixin Health, a company involved in the controversial "drug-to-insurance" model, which has come under regulatory scrutiny for its business practices [1][3][4] Business Model and Regulatory Environment - Meixin Health's main revenue comes from two segments: "Smart Drug Solutions" and "Smart Insurance Solutions," with the former expected to generate 1.207 billion yuan in 2024, accounting for 59.3% of total revenue [1] - The "Smart Drug Solutions" segment provides commercialization support for pharmaceutical companies, which is closely related to the regulated "drug-to-insurance" business [2][3] - Regulatory bodies have been actively targeting the "drug-to-insurance" model, labeling it as "pseudo-insurance" due to its lack of risk diversification [2][3] Financial Performance - Meixin Health has reported continuous net losses, totaling 810 million yuan over three years, with projected revenues exceeding 2.035 billion yuan in 2024 [4] - The company attributes its losses to significant upfront investments in infrastructure, but high sales and distribution expenses remain a concern [4][5] - Cash flow has been negative for three consecutive years, with cash reserves shrinking by over 92% [4] Business Risks - The low gross margin of the "Smart Drug Solutions" segment poses challenges for profitability, especially as the higher-margin "Smart Insurance Solutions" segment has seen a decline in revenue share [5] - The company faces potential operational risks due to declining participation rates and rising claims in its insurance products, leading to a "death spiral" risk [5] Legal Issues - Meixin Health is embroiled in a long-standing legal dispute with Tianxiao Technology over allegations of trade secret theft and bribery, complicating its reputation and compliance assessments [6][7] - The case has led to criminal investigations and civil lawsuits, adding further uncertainty to the company's operational landscape [7]

北京商报讯（记者 胡永新）一场针对"车辆统筹"业务的整治风暴正在袭来。8月6日，北京商报记者梳理发现，近期，吉林、天津等地密集发布风险提示， 直指机动车"交通安全统筹"业务存在的非法经营风险。 消费者发现问题后要求退保，但业务员称要收手续费不给退款。消费者进一步了解后发现，该公司根本不是正规的保险服务公司，也没有在金融监管部门备 案。 车主该如何增强辨别能力，避免遭遇车辆统筹这类"伪保险"？李超表示，消费者在购买车险时，应核验机构资质与合法性，凡名称含"统筹""互助""汽车服 务"且无保险牌照的均属违规。同时需要警惕销售陷阱与低价诱导，统筹产品保费通常比正规保险产品低，但它可能通过提高免赔额、缩小保障范围转嫁风 险。若报价显著低于市场价，应质疑其偿付能力。投保后立即通过保险公司官方客服或"金事通"App查询保单有效性。若发现统筹合同，保存宣传资料、付 款凭证，拨打12378（金融监管热线）或12315投诉。 根据相关法律法规，保险业务应由依法设立的保险公司经营，其他单位和个人不得经营保险业务。吉林金融监管局指出，部分机动车辆"安全统筹"业务可能 由未经授权的组织或机构办理，存在非法经营的风险。吉林金融监管局表 ...