Yidu Tech maintains rapid growth momentum in the first half of fiscal 2022

Copyright 2021 PR Newswire. All rights reserved

HONG KONG, November 29, 2021 / PRNewswire / – Yidu Tech Inc. (“Yidu Tech” or the “Company, together with its subsidiaries and consolidated affiliates, the” Group “, HKEx: 2158), a provider of big data and artificial intelligence solutions in healthcare, announced its unaudited consolidated interim results for the half-year ended September 30, 2021 (“First half of fiscal year 2022” or the “period”). During the period, the Group maintained its strong overall growth momentum, continued to improve its core competencies and achieved a more balanced and synergistic development of its three key business segments.

Highlights of the first half of fiscal 2022

  • Total revenue grew 62.3% year over year (“YoY”) to reach 501.9 million RMB, with the continued optimization of the revenue structure, including:
    – Adjusted revenue[1] of Big Data Platform and Solutions grew 21.1% year-on-year to reach 157.9 million RMB;
    – Life Sciences Solutions revenue increased 106.3% year-on-year to reach 145.6 million RMB;
    – Sales of the healthcare management platform and solutions increased by 642.6% at 190.4 million RMB.
  • Gross margin increased 64.4% year-on-year for 144.1 million RMB; the gross profit margin remained stable at 28.7%.
  • With YiduCore as the core data intelligence infrastructure, Yidu Tech continued to focus on public health, research and clinical diagnostic and treatment scenarios, and further strengthened its main advantages in three areas, namely network infrastructure, medical artificial intelligence (“AI”) and Big Data technology capabilities, and a multi-domain talent pool to support the continued development of each business segment.
  • From September 30, 2021, YiduCore’s data intelligence infrastructure has covered more than 600 hospitals in more than 20 provinces. Since the COVID-19 outbreak, Yidu Tech has helped 12 cities, including Beijing, Wuhan, Canton and Ningbo in the prevention and control of epidemics, by strengthening the capacities of public health management and prevention of cities. In addition, Yidu Tech has made significant strides in promoting the application and research of real world data (“RWD”) and facilitating the establishment and improvement of multi-level medical safety systems. .

Increase R&D investments to consolidate technical advantages and ensure data security

Yidu Tech is at the forefront of the application of AI and Big Data technologies to enable the digital transformation of the healthcare sector. The Group continues to promote R&D and innovation, and is committed to enabling its customers to unlock the value of their own data by ensuring data security and compliance in order to improve public health and safety. During the period, Yidu Tech obtained the authoritative national certifications on its secure multi-stakeholder computing and federal learning capabilities from the Chinese Academy of Information and Communication Technologies (CAICT).

[1] Excluding the impact of international sales of medical devices and other COVID-19 supplies in the first half of the fiscal year ended March 31, 2021.

The technological strengths of the Group are based on its pool of multi-domain talents. From September 30, 2021, the Group had 665 and 532 employees respectively with medical training and training in AI and technology, representing respectively 45.9% and 36.7% of the total number of Group employees. Yidu Tech had more than 100 employees with medical and technical training in AI.

In terms of technological and industrial expertise, Yidu Tech has collaborated with renowned hospitals and experts to continuously improve and refine real-world disease models through AI technology. YiduCore’s medical information and knowledge charts have covered over 8,000 illnesses. The company has created disease registries covering 60 disease areas, including more than 20 major cancer types. Almost 120 papers have been published using Yidu Tech’s disease registries and big data platforms. The Group has obtained 474 patents, demonstrating its strong R&D capabilities.

Balanced and synergistic development of the three business segments to build an intelligent health ecosystem based on value

Yidu Tech’s revenue has maintained rapid growth since fiscal 2019 and achieved another remarkable result in the first half of fiscal 2022, with significant growth in revenue and gross profit margin in the three business segments.

During the period, the Big Data Platform and Solutions segment recorded total revenue of 157.9 million RMB and a gross profit margin of 41.7%, up 4.9 percentage points year-on-year. After normalizing international revenue for COVID-19 related supplies in the first half of fiscal 2021, this segment maintained a solid year-over-year increase of 21.1%. From September 30, 2021, Yidu Tech has provided service solutions to 78 top research hospitals in China and 21 regulators and policy makers to facilitate more efficient generation of research-quality evidence. During the period, Yidu Tech undertook the development of Phase I of the RWD Clinical Research Platform in Hainan Boao Lecheng to facilitate the application of RWD and accelerate the approval of urgent drugs and devices that still need to be recorded in China, and to achieve traceable data governance as well as management of the entire project life cycle, from data collection to regulatory assessment.

The Life Sciences Solutions segment recorded total sales of 145.6 million RMB, representing a doubling of year-over-year growth, and a gross profit margin of 20.0%, an increase of 3.4 percentage points. The customers we have served in this segment have grown rapidly. During the period, the number of active customers increased from 108 to 127 since the end of the previous fiscal year. It has also served 17 of the world’s 20 largest pharmaceutical companies by revenue in 2020. In addition to expanding its customer base, Yidu Tech has also actively enriched its solutions to improve customer loyalty and increase portfolio share. of its customers. During the period, the overall revenue retention of all of its customers was 133%, and the revenue retention of its top pharmaceutical, biotech and medical device customers was 140%.

The Healthcare Management Platform and Solutions segment recorded total revenue of 190.4 million RMB and a gross profit margin of 25.3%. In order to achieve its mission of make precision care accessible to all, Yidu Tech continued to optimize its risk prediction model and provided one-stop AI-based and analytics-based disease management solutions to patients with different types of disease. Upon proper authorization, Yidu Tech has equipped physicians and other healthcare providers with its platform that can provide relevant information and knowledge as well as practical patient management tools to help them conduct research and manage more effectively. research participants. From September 30, 2021, the number of paying users who have made at least one purchase on its health management platform has exceeded 8 million.

Obtain accessible and accurate health care thanks to YiduCore technologies

The effectiveness and value of YiduCore’s analytics-based solutions have been proven in a variety of use case scenarios. Yidu Tech’s comprehensive public health solutions provide large-scale simulation and prediction that can proactively assess risk, optimize resource allocation, and enable efficient and dynamic decision-making. By the end of the period, Yidu Tech had contributed to the prevention and control of the epidemic in 12 cities of China. In particular, a local authority of Guangdong Province adopted Yidu Tech’s risk prediction and policy simulation model to effectively estimate the epidemic trend and formulate a containment strategy to reduce the death rate while maintaining sustainable economic development. The predicted epidemic curve coincided with the real evolution and the difference was in the 5 cases.

With its strong technological base and industry expertise, Yidu Tech provides insurance solutions to insurance companies and brokerage firms to facilitate the design of their innovative insurance products, enabling faster insurance underwriting and more accurate and a faster claims settlement process. From September 30, 2021, Yidu Tech provided operating services for Hui Min Bao, a complementary insurance product at the city level of the existing national social health insurance, in five cities. In addition, Yidu Tech served as the main operating platform and provided tracking services in Beijing, Ningbo and Hefei for two consecutive years. The service responded to different health protection needs and reduced the medical burden on the public, enabling city governments to reduce health care costs.

Ms. Gong Yingying (Rujing), President, CEO and Founder of Yidu Tech, said, “Since listing on the Hong Kong Stock Exchange earlier this year, the group has actively responded to national policies and guidance, continuously strengthened our technological R&D and investments, and accelerated the pace of business development. ‘Data intelligence and green health care’ is the general industry development trend, and we will continue to introduce innovative AI-based applications and solutions, stay true to our mission of ‘making value-based precision healthcare accessible to everyone“, and bring more value to key players in the ecosystem through our health data intelligence infrastructure.”

About Yidu Tech Inc. (2158.HK)

Founded in 2014, Yidu Tech Inc. (“Yidu Tech”, stock code: 2158.HK) focuses on the research, development and application of AI and big data technology for the healthcare industry . With a vision of “data intelligence and green healthcare”, the Group is focused on solving smart applications problems in three major public health scenarios, research, diagnosis and treatment, by empowering the industry through data intelligence infrastructure and promoting the construction of a safe, accessible and value-based healthcare system. In January 2021, Yidu Tech has been successfully listed on the Hong Kong Stock Exchange.

Yidu Tech mainly operates in three business segments namely Big Data Platform and Solutions, Life Sciences Solutions and Healthcare Management Platform and Solutions, which facilitate medical research , health care management, public health management and the development of innovative drugs, as well as aid to industry. to reduce costs and improve efficiency, with the goal of making precision healthcare accessible to all.

SOURCE Yidu Tech


About John Tuttle

Check Also

Non-pharmacological treatments outperform opioid treatment for patients with chronic non-surgical pain

Updated prescribing guidelines published in 2014 and 2016 may explain a lower opioid use of …