Company Dynamics - The company, Yidu Tech, has been advancing its AI medical business, launching upgraded core products such as AI Middle Platform 2.0, and has successfully implemented these solutions in leading hospitals [1] - The company reported a significant reduction in losses for the fiscal year 2025, indicating a potential for steady revenue growth supported by the recovery of industry demand and a focused AI strategy [1] Financial Performance - For the fiscal year 2025, Yidu Tech recorded revenue of 710 million yuan, a year-on-year decrease of 11.4%. The big data platform and solutions business saw a revenue increase of 10.3% to 350 million yuan, while life sciences solutions revenue decreased by 23.7% to 250 million yuan [2] - The company’s net loss attributable to shareholders was 120 million yuan, a significant reduction from the previous year's loss of 190 million yuan, primarily due to ongoing cost reduction and efficiency improvements [2] Future Outlook - The company maintains its revenue and net profit forecasts for fiscal year 2026 and introduces a forecast for fiscal year 2027, expecting revenue of 870 million yuan and a net profit of 4.11 million yuan [2] - The target price has been raised by 36% to 6.8 HKD, reflecting the company's progress in new business areas such as the AI Middle Platform, with a projected upside of 16% from the current stock price [2]

Core Insights - The company reported a revenue of RMB 715 million for the fiscal year ending March 31, 2025, representing a year-on-year decrease of 11.4% [1] - The loss attributable to shareholders was RMB 118 million, a reduction of 39.58% compared to the previous year, with a loss per share of RMB 0.11 [1] Business Performance - The company has developed the "AI Medical Brain" YiduCore, which has established a comprehensive barrier across data, computing power, algorithms, and scenarios, processing 1.15 billion patient visits and 6 billion authorized medical records [1] - The company has achieved a leading position in technology validation, evidenced by top performance in evaluations organized by the National Health Commission [1] - The company has deployed its AI platform in over 30 top-tier hospitals, demonstrating its capability to transition from technology validation to industrial value [1][2] Client Engagement and Solutions - The company has provided solutions to 110 top hospitals and 44 regulatory bodies, covering over 4,000 hospitals, and has upgraded its AI and data platforms to versions 2.0 and 5.0 respectively [3] - The company serves 132 life sciences clients, with a revenue retention rate of 87.51% among its top 20 clients, including 16 of the top 20 multinational pharmaceutical companies [3] - The company has maintained its position as the main operating platform for "Shenzhen Huimin Insurance" and "Beijing Huimin Insurance," with insured individuals reaching 6.09 million and over 15 million respectively [3] Financial Health - The company’s total revenue for the fiscal year was RMB 715 million, down 11.4% due to external market conditions and product mix changes, but the annual loss was reduced to RMB 1.35 billion, a decrease of 38.9% [4] - The company has improved cash management, resulting in a 23.8% reduction in cash outflow from operating activities year-on-year, with cash reserves totaling RMB 3.309 billion [4]