本报讯(记者袁传玺)12月6日，第二届中国呼吸健康大会在广东越秀国际会议中心举行。京东健康受邀 参会，并正式成为"中医药呼吸健康发展共同体"成员。作为本次大会的重要亮点之一，京东健康在现场 正式启动"呼吸健康万医行"线上公益科普与培训活动。 该活动以"医生培训全覆盖、科普知识广传播"为核心目标，依托医疗服务平台的专业优势，京东健康与 香雪制药、特一药业（002728）、葛兰素史克、欧彼乐、华盖制药等多家知名药企及品牌达成深度合 作，共同构建了融合医生专业培训与患者健康科普的线上公益服务体系。 据介绍，"呼吸健康万医行"活动将重点开展两大核心板块工作。面对医生，依托"院士大查房"等成熟培 训经验，此次活动将围绕呼吸疾病诊疗规范、早诊早治技术、中西医结合要点等关键内容，经权威专家 审核打磨形成专业课程体系，并通过京东医生APP、南山呼吸等平台，以文章、视频、直播等多元化形 式进行培训。 在患者科普方面，行动将组织呼吸疾病领域专家团队开展线上健康科普，聚焦呼吸道疾病预防、吸烟危 害、雾霾天防护、慢性病长期管理等公众关注热点，用通俗易懂的语言传递专业知识。同步开设的远程 义诊通道，将通过京东APP、京东健康APP为公 ...

Core Insights - The Chinese healthcare industry is valued at 20 trillion, characterized by long cycles, slow pace, and heavy investment, making it a challenging yet correct business opportunity. The future will depend on strategic determination and the effective implementation of AI technology to solve problems and gain user trust [2][31]. Group 1: Company Developments - Ant Group has restructured its digital healthcare division, upgrading it to the "Ant Health Group," marking a significant business adjustment in the past five years [3]. - Ant Group's AI ToC product, Ant AQ, has achieved over 10 million monthly active users within just four months of launch [4][20]. - The health sector is now a strategic pillar for Ant Group, with Zhang Junjie leading the health group, reporting directly to CEO Han Xinyi [13]. Group 2: Competitive Landscape - Major players in AI healthcare include Alibaba, JD Health, Tencent, and ByteDance, all of which have established early advantages in the market [5][6]. - Ant Group's entry into healthcare is seen as a move to transition from a payment tool to a comprehensive healthcare platform, leveraging its existing user base of over 800 million for medical insurance services [11]. Group 3: AI Applications and Challenges - The AI healthcare sector is becoming increasingly competitive, with many services showing signs of homogenization, such as AI digital doctors and health consultations [14]. - Ant AQ's integration with various health services, including online consultations and health records, positions it as a key player in the AI healthcare landscape [19]. Group 4: Future Prospects and Commercialization - Ant Group's future commercialization strategy for Ant AQ is still under development, with a focus on potential collaborations in pharmaceutical sales and medical insurance [22][27]. - The company aims to leverage its resources and technology to create a differentiated competitive edge in the healthcare market [31].

Group 1 - The core viewpoint of the report is that Credit Lyonnais has raised the adjusted net profit forecasts for JD Health (06618) by 5% and 6% for 2025 and 2026 respectively, reflecting better cost control [1] - The target price for JD Health has been increased from HKD 45 to HKD 56, indicating a positive outlook for the company [1] - JD Health is identified as a major beneficiary of JD Group's investment strategy focused on increasing app user growth [1] Group 2 - JD Health's performance in the first half of 2025 is reported to be strong, with total revenue growing by 23% year-on-year, reaching RMB 34.8 billion [1] - The revenue growth is attributed to the successful 618 shopping festival, particularly in the sales of nutritional health products and medical devices [1] - The outflow of original research drugs from hospital channels continues to support the demand for pharmaceuticals [1] Group 3 - The adjusted EBITDA is expected to increase by 57% year-on-year, reaching RMB 2.5 billion, driven by improved gross margins and strict control over investments in immediate demand [1]