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狂奔的医药电商与“滴滴开处方”:处方价格最低4毛1张,平台考核医生10秒开方率
第一财经· 2025-08-25 06:22
以下文章来源于健闻咨询 ,作者健闻咨询 健闻咨询 . 医疗行业跨界洞察 2025.08. 25 本文字数:3374,阅读时长大约5.5分钟 来源 | 健闻咨询 近年来,在网络购药等政策的影响下,处方药在院外零售市场的规模占比逐年提升。参考米内网、中 康CMH等几家权威机构发布的数据,2024年网售处方药的销售规模保守估计在350亿元-400亿元区 间。 此前,处方药产品也已连续5年力压非处方药产品,在网售药品市场中市占率排名第一。结合医药电 商当前的强劲增长态势,网售处方药的销售规模还将逐年增长。 要支撑起网售处方药市场强劲增长的势头,离不开互联网医院开出的电子处方的功劳。据《健闻咨 询》访谈了解到,互联网处方价格近年来一路走低,如今已经维持在每张处方0.4-0.6元的平均市场 价格。 在如此低廉的价格背后,是一条成熟的电子处方产业链。作为直接面向消费者的医药电商平台(如美 团、饿了么、阿里健康等),为了承接消费者巨大的寻医问药的需求,需要引入外部供应商来提供处 方服务,而这些拥有互联网医院资质的开方公司,又需要招纳大量全职或者兼职医生来提供开方服务 (主要以兼职医生为主)。医生在线上灵活接单,和滴滴打车的模 ...
狂奔的医药电商与“滴滴开处方”:处方价格最低4毛1张 平台考核医生10秒开方率
Di Yi Cai Jing· 2025-08-25 00:05
近年来,在网络购药等政策的影响下,处方药在院外零售市场的规模占比逐年提升。参考米内网、中康 CMH等几家权威机构发布的数据,2024年网售处方药的销售规模保守估计在350亿元-400亿元区间。 此前,处方药产品也已连续5年力压非处方药产品,在网售药品市场中市占率排名第一。结合医药电商 当前的强劲增长态势,网售处方药的销售规模还将逐年增长。 要支撑起网售处方药市场强劲增长的势头,离不开互联网医院开出的电子处方的功劳。据《健闻咨询》 访谈了解到,互联网处方价格近年来一路走低,如今已经维持在每张处方0.4-0.6元的平均市场价格。 在如此低廉的价格背后,是一条成熟的电子处方产业链。作为直接面向消费者的医药电商平台(如美 团、饿了么、阿里健康等),为了承接消费者巨大的寻医问药的需求,需要引入外部供应商来提供处方 服务,而这些拥有互联网医院资质的开方公司,又需要招纳大量全职或者兼职医生来提供开方服务(主 要以兼职医生为主)。医生在线上灵活接单,和滴滴打车的模式类似。 基于实际开出的处方量,医药电商平台会为外部供应商每张处方支付0.4元-0.8元的价格,而在产业链上 作为外部供应商的开方公司,会为医生结算每张处方0.2元 ...
京东健康(06618.HK)25H1业绩点评:收入与盈利实现双增 经营效率持续优化
Ge Long Hui· 2025-08-23 11:11
Core Viewpoint - JD Health reported strong revenue growth and improved profitability in the first half of 2025, driven by increased sales of pharmaceutical and health products, as well as digital marketing services [1][2][3] Group 1: Financial Performance - In the first half of 2025, JD Health achieved revenue of 35.3 billion yuan, a year-on-year increase of 24.5% from 28.3 billion yuan [1] - The company's operating profit reached 2.127 billion yuan, up 105.5% year-on-year, while Non-IFRS operating profit was 2.483 billion yuan, a 56.7% increase [1][2] - Non-IFRS net profit grew by 35% to 3.57 billion yuan, with a net profit margin of 10.1%, reflecting a 0.8 percentage point increase year-on-year [2] Group 2: Revenue Breakdown - Product revenue from the sale of pharmaceuticals and health products amounted to 29.3 billion yuan, a 22.7% increase year-on-year, accounting for 83% of total revenue [1] - Digital marketing services revenue reached 6 billion yuan, a 34.4% increase, driven by a rise in the number of advertisers [1][2] Group 3: Strategic Developments - JD Health has established over 200,000 links to offline pharmacies for instant delivery and expanded online medical insurance payments to nearly 200 million people [2] - The company has partnered with Beijing Children's Hospital to create a dedicated pediatric pharmacy, enhancing prescription flow and insurance payment processes [2] - The introduction of AI technologies, including AI doctors and pharmacists, has served over 50 million users, indicating a significant advancement in service capabilities [3] Group 4: Future Outlook - The company is expected to benefit from the deepening application of medical AI and the "Healthy China" strategy, which is likely to release health demand [3] - Revenue forecasts for 2025-2027 have been adjusted to 70 billion, 80.5 billion, and 92.6 billion yuan, respectively, with net profit estimates revised to 5.5 billion, 6.5 billion, and 7.6 billion yuan [3]
叮当健康发布中期业绩,股东应占亏损5167.1万元,同比减少38.84%
Zhi Tong Cai Jing· 2025-08-22 10:25
公告称,总收入同比增加,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。亏损收窄与业绩改 善,得益于毛利率提升至35.0%,同比增加1.9个百分点;同时,精细化运营与持续降本增效获得成效, 盈利能力改善显著。 叮当健康(09886)发布截至2025年6月30日止6个月中期业绩,该集团取得收入人民币23.27亿元,同比增 加2.6%;公司所有者期内亏损5167.1万元,同比减少38.84%;每股基本亏损0.04元。 ...
药师帮上半年业绩爆发式增长 盈利结构优化引领价值兑现
Zheng Quan Ri Bao Wang· 2025-08-21 06:45
Core Viewpoint - The company, Yaoshi Bang, reported strong financial performance in the first half of 2025, continuing its turnaround from 2024, with a net profit of 78.11 million yuan, a year-on-year increase of 258.01%, and revenue of 9.84 billion yuan, up 11.7% [1] Group 1: Financial Performance - The company achieved a net profit of 78.11 million yuan, representing a 258.01% increase year-on-year [1] - Revenue reached 9.84 billion yuan, reflecting an 11.7% growth compared to the previous year [1] - Operating cash flow exceeded 257 million yuan, indicating strong cash generation capabilities [1] Group 2: Business Drivers - Key growth drivers include scale advantages, rapid expansion of high-margin private label products, and significant improvements in operational efficiency due to digital capabilities [1][2] - The private label business saw a transaction volume of 850 million yuan, a staggering increase of 473.4% year-on-year, accounting for 78.8% of the total scale of promoted products [1] - The strategic product, Huoxiang Zhengqi Oral Liquid, achieved substantial coverage in grassroots medical institutions, contributing 40% to sales [1] Group 3: Operational Efficiency - The average number of active buyers reached 453,000, a 6.5% increase year-on-year, while the average number of paying buyers rose to 426,000, up 7.6% [2] - The payment rate increased from 93% to 94%, and the average number of orders per month rose from 28 to 29.2 [2] - The company reported an accounts payable turnover of approximately 67.7 days, inventory turnover of about 32.2 days, and accounts receivable turnover of around 1.8 days, supporting a "fast turnover + cash cow" model [2] Group 4: Strategic Initiatives - The company is focusing on three main strategies: digital transformation of the supply chain, accelerating penetration of high-margin private label and traditional Chinese medicine products, and building a closed-loop ecosystem for grassroots medical services [3] - Long-term revenue projections estimate that the company could achieve revenues of 20.33 billion yuan, 23.38 billion yuan, and 27.12 billion yuan from 2025 to 2027, with net profits of 124 million yuan, 379 million yuan, and 720 million yuan respectively [3]
药师帮(09885.HK)中期股东应占利润同比增258%至7811.7万元
Jin Rong Jie· 2025-08-20 09:33
【财华社讯】药师帮(09885.HK)公布,截至2025年6月30日止六个月,收入约98.43亿元(人民币,下同), 同比增长11.7%;公司拥有人应占利润7811.7万元,同比增长258%;非国际财务报告准则 经调整净利润 约1.22亿元,同比增长33.2%;每股盈利0.11元。不派中期息。 集团的毛利同比增加25.3%至11.045亿元。毛利率由10.0%上升至11.2%,主要由于集团自有品牌产品的 下游需求持续保持旺盛,该高毛利率的业务规模持续增长,不断提升集团的毛利率水平。 本文源自:财华网 ...
京东健康与美纳里尼签署战略合作协议 推动更多男性健康优质产品触达用户
Zheng Quan Ri Bao· 2025-08-20 08:06
Group 1 - JD Health and Menarini China signed a strategic cooperation agreement to enhance health ecosystem through resource sharing and complementary advantages [2][3] - The collaboration aims to create a patient-centered disease management solution focusing on product accessibility, health education, and digital services [2] - Menarini plans to launch male health products on JD Health's platform, prioritizing the platform for new product releases under equal conditions [2][3] Group 2 - The launch of the "Empowerment Report on Male Health and Happiness" highlights issues such as high disease prevalence and low treatment rates, providing data support for industry development [3] - Both companies will invest in building a patient education system, utilizing JD Health's resources to enhance content and outreach [3] - Menarini's CEO emphasized the importance of JD Health's user base and data capabilities in improving drug accessibility and addressing patient privacy concerns [3]
电商供应链的医药叙事:成本拆解、反向定制、服务穿透
晚点LatePost· 2025-08-19 07:49
Core Viewpoint - The article discusses how JD.com has been working for over a decade to penetrate the healthcare e-commerce market, which remains largely untapped compared to other consumer goods sectors. The focus is on the challenges and advancements in online pharmaceutical sales and the integration of healthcare services with e-commerce [2][3][4]. Summary by Sections Market Overview - From 2013 to 2022, the sales scale of physical pharmacies in China grew from 361.6 billion to 611.7 billion RMB, with a compound annual growth rate (CAGR) of 6.02%. In contrast, the market size of pharmaceutical e-commerce surged from 4.3 billion to 260.8 billion RMB, achieving a staggering CAGR of 57.8% [4]. - Despite the rapid growth of e-commerce, traditional pharmaceutical sales channels still dominate, indicating that the healthcare sector has not been fully penetrated by the internet [4]. Challenges in Pharmaceutical E-commerce - The complexity of compliance and supply chain management presents significant challenges for the e-commerce of pharmaceutical products. The regulatory environment is stringent, requiring extensive time for drug development and approval [5][6]. - The average time for a drug to go from development to market in China is over eight years, which includes two years of research, five years of clinical trials, and one year for approval [4][6]. JD.com's Strategy and Development - JD.com began its foray into the healthcare sector by selling health-related products and officially entered the pharmaceutical retail market in 2015 after obtaining the necessary licenses [6][7]. - The company has invested heavily in building a compliant supply chain, including specialized warehouses that meet Good Supply Practice (GSP) standards, ensuring the safe storage and delivery of pharmaceuticals [8][9]. Integration of Healthcare Services - JD.com has expanded its services beyond mere drug sales to include online health consultations and a comprehensive "medical + drug" service model, addressing the inefficiencies in traditional healthcare delivery [16][17]. - The establishment of an integrated service system allows patients to receive online consultations, lab tests, and home delivery of medications, thereby streamlining the healthcare process [18][19]. Innovations and Future Directions - The introduction of AI technologies, such as AI doctors and nutritionists, has significantly improved service efficiency and customer engagement, with AI-driven interactions showing higher conversion rates compared to human responses [29][30]. - JD.com aims to leverage its extensive user data to assist pharmaceutical companies in clinical trial patient recruitment, thereby enhancing the drug development process [24][25]. Financial Performance - In the first half of 2025, JD Health reported total revenue of 35.3 billion RMB, a year-on-year increase of 24.5%, with a significant portion of revenue coming from medical devices, nutritional supplements, and pharmaceutical sales [16].
互联网传媒周报:音乐付费再超预期,垂类“数据+场景”仍是AI应用壁垒-20250818
Investment Rating - The industry investment rating is "Positive" (看好) indicating that the industry is expected to outperform the overall market [4][12]. Core Insights - The report highlights that Tencent Music and NetEase Cloud Music are leading the domestic music platform sector, with Tencent Music's subscription revenue reaching 4.38 billion RMB in Q2 2025, a year-on-year increase of 17.1%. The average revenue per paying user (ARPPU) increased by 9.3% to 11.7 RMB, driven by the SVIP strategy [4]. - The report emphasizes the strong performance of the online entertainment sector, particularly the growth of self-owned copyright operations by companies like Reading Group and the expansion of offline channels for merchandise [4]. - The report expresses concerns about AI applications potentially disrupting the industry, but notes that companies with a "data + scenario" approach have a competitive edge in product design and user engagement [4]. Summary by Sections Media Sector - Tencent Music's revenue from subscriptions and other income sources exceeded expectations, with a focus on monetizing fan economies. The company is expected to continue increasing its average transaction value [4]. - NetEase Cloud Music's subscription revenue grew by 15.2% year-on-year, driven by an increase in paying users, particularly among younger demographics [4]. Entertainment and Gaming - JD Health reported a 30% year-on-year increase in pharmaceutical sales, indicating significant growth potential in online medical sales [4]. - The report highlights the strong performance of various entertainment companies, including Bilibili and Mango TV, which are diversifying their revenue streams beyond traditional advertising and gaming [4]. Valuation of Key Companies - The report provides a valuation table for key companies, indicating projected revenue and profit growth for Tencent Holdings, NetEase, and others, with Tencent expected to achieve a revenue of 7.46 billion RMB in 2025, a growth of 13% [6]. - The report also notes the strong growth potential for companies like Pop Mart and Focus Technology, with significant year-on-year revenue increases projected [6].
半年净赚25.9亿,刘强东的医药生意大爆发
3 6 Ke· 2025-08-17 02:33
Core Viewpoint - The pharmaceutical e-commerce industry is experiencing a turnaround, with leading companies like JD Health demonstrating sustained performance, indicating the end of the bottom cycle and the beginning of a new upward trend [1][3]. Financial Performance - JD Health reported a revenue of 35.29 billion yuan in the first half of the year, a year-on-year increase of 24.5% [1]. - The non-IFRS profit reached 3.57 billion yuan, up 35% year-on-year, while the net profit attributable to shareholders was 2.59 billion yuan, reflecting a 27.4% increase [1]. - Gross profit stood at 8.89 billion yuan, with a gross margin of 25.2%, indicating a high level of profitability [1]. User Engagement and Market Response - As of the end of Q2 2025, JD Health had over 200 million annual active users and more than 150,000 third-party partner merchants [3]. - Following the earnings report, JD Health's stock surged over 11%, with market capitalization briefly exceeding 200 billion HKD, marking a two-year high [3]. - Year-to-date, JD Health's stock has risen over 117%, with a dynamic P/E ratio exceeding 38 times, significantly higher than the industry average of 11.96 times [3]. Industry Context and Competitive Landscape - The pharmaceutical e-commerce sector has faced valuation declines due to market biases against the retail industry, but it is evolving beyond just a drug-selling platform to a comprehensive industry driven by "medical services + pharmaceutical retail + AI" [3][5]. - JD Health, established in 2019, has rapidly expanded and became the largest online retail pharmacy in China by revenue, capturing a market share of 29.8% by 2019 [7]. Strategic Developments - JD Health has enhanced its service offerings, achieving an average of over 500,000 daily consultations through its internet hospital by mid-2025 [9]. - The company has expanded its at-home healthcare services to cover 64 items across seven categories, including home care and rehabilitation [9]. - In the AI sector, JD Health has launched various AI products, serving over 50 million users and enhancing the online healthcare experience [10]. Future Outlook - Analysts expect JD Health to benefit from increased collaboration with pharmaceutical manufacturers and a focus on the online market, projecting a 30% and 21% increase in net profit forecasts for 2025 and 2026, respectively [11].