Yidu Technology's Financial Year 2023 Performance: Multi scenario Strategic Drive for Quality and Efficiency Enhancement

Tech 2023-07-04 12:08:08 Source: Network

On June 30, 2023, Yidu Technology Co., Ltd

On June 30, 2023, Yidu Technology Co., Ltd. (stock code 2158. HK), a leading enterprise in the Chinese medical intelligence industry, announced its annual performance for the fiscal year ended March 31, 2023 (the "2023 fiscal year" or "reporting period").

Despite the challenges and uncertainties in the external environment, the company actively strengthens its scenario driven strategic focus, maintains its focus and investment in technological innovation and disease research, and has achieved considerable results in artificial intelligence research and application solution development, disease field expansion, product upgrade iteration, and market expansion. The Company's total revenue in fiscal year 2023 was 805 million yuan, the overall Gross margin steadily increased to 34.1% year on year, the adjusted net loss narrowed to 449 million yuan, 22.2% year on year, and the net cash outflow for operating activities narrowed by 41.9% year on year. The company's order amount in hand for the fiscal year 2023 is approximately 916 million yuan, a year-on-year increase of approximately 45.8%.

Gong Yingying, Executive Director, Chairman and Founder of Yidu Technology (Ru Jing)The lady stated: Over the past year, the Healthy China strategy has been advancing in depth. With the guidance and support of a series of favorable national policies, Yidu Technology has focused on the public's health needs, deepened the development of core technologies and capabilities, and continuously brought inclusive precision medicine to more people through scenario and technological innovation. In the future, Yidu Technology will continue to adhere to its original intention of 'green medicine', with the goal of achieving long-term high-quality growth, and adhere to independent innovation, Promote the intelligent transformation and upgrading of the medical industry from the supply side, creating greater value for customers, investors, and the entire society

The proportion of research and development investment has increased to 42.6%, continuously consolidating technical barriers

As a benchmark enterprise in China's medical intelligence industry, Yidu Technology has always focused on the development of cutting-edge technologies in fields such as artificial intelligence, adhered to independent research and innovation, and continuously promoted the supply side transformation of the medical industry empowered by cutting-edge technologies. During the reporting period, the percentage of R&D expenses in the company's revenue increased from 29.8% in the 2022 fiscal year to 42.6%.

The company continues to invest resources in the "medical intelligent brain" YiduCore to consolidate its core technological capabilities. As of March 31, 2023, the YuduCore medical Knowledge graph has covered more than 90000 medical entities and more than 10000 diseases. It supports the mapping of nearly 10 medical standard terms such as ICD, MeSH, ATC, and has established disease models in more than 70 disease fields. In terms of medical Natural language processing technology, YiduCore has covered more than 1500 hospitals, and its data governance capability has been continuously improved. It can accurately identify more than 15000 medical semantic fields, and the accuracy of medical text field extraction is higher than the industry average.

Based on YuduCore, the company continuously deepens and expands its research capabilities in different disease fields, improving the efficiency of research level evidence production. During the reporting period, China's first liver cirrhosis standard dataset was released with technical support from Yidu Technology. As of March 31, 2023, the company has collaborated with experts and authoritative institutions to publish 15 disease standard datasets, laying the foundation for multi center research in related disease fields; It also provides a comprehensive scientific research service solution for a top three class hospital in East China, which ranks second in thoracic surgery and tuberculosis in the country, to help improve scientific research efficiency.

YiduCore's independent innovation and security protection capabilities have also been recognized by multiple parties. The "Medical Data Intelligence Platform Core Module (version 2.7.0)" and "Specialized Disease Intelligent Research Platform Core Module (version 8.0.0)" independently innovatively developed by YiduCore have passed the evaluation by the China Information Security Evaluation Center and obtained the certificate of independent original product evaluation. Moreover, the company has been awarded the national honor of "National Intellectual Property Advantage Enterprise" in 2022 due to its technological innovation strength and intellectual property management capabilities. In terms of security protection, we also obtained the Special Evaluation Certificate of Basic Competence of Multi party Secure Computing and the Special Evaluation Certificate of Basic Competence of Federated learning issued by the China Academy of Information and Communications.

Accelerate the landing of innovative products and enhance market competitiveness

Relying on the core capabilities of YiduCore, Yidu Technology continuously develops new products, transforms its technical strength into product advantages, and realizes the continuous landing of innovative products, continuously enhancing its market competitiveness.

During the reporting period, Yidu Technology released a new generation of intelligent solutions for hospital scenarios. Among them, the new generation data center YiduEywa2.0 comprehensively covers clinical diagnosis, hospital management, and research scenarios, helping hospitals achieve medical data assetization and elementization; The launched full disease database platform can achieve self-service creation of specialized disease databases throughout the hospital, which will further expand the target customer base. Relying on the new generation data center YiduEywa2.0, Yidu Technology has supported the high-quality development and digital intelligence transformation of many large tertiary hospitals, such as Tongji Hospital affiliated to Tongji Medical College.

In view of the low recruitment rate, poor compliance, slow progress in clinical trials, high cost of Drug development and other problems in traditional clinical trials, Yidu Technology has independently developed an integrated digital intelligent service platform, mainly including digital collaboration platform and remote intelligent clinical trial platform (DCT), under the guiding ideology of patient centered Drug development.

Yidu Technology also utilizes the technical capabilities and medical knowledge accumulated by YiduCore to provide integrated and personalized digital therapies. During the reporting period, diabetes digital therapy products based on diabetes digital therapy independently developed by the company passed the approval of the US Food and Drug Administration (FDA).

In addition, products or solutions such as Yidu Technology's specialized disease database were also widely implemented during the reporting period. For example, the company undertook the construction of ophthalmic special disease bank of a tertiary hospital in southwest China, undertook and provided technical support for the project of "Big data Platform of Tianjin Eye Disease Clinical Medical Research Center", won the bid for several tertiary/tertiary hospital special disease bank projects, strengthened the company's research capacity in the fields of neurological diseases, orthopedics and other diseases, and won the bid for the construction of a multi center clinical research support platform of a tertiary hospital in Central China, The contract amount exceeds RMB 10 million.

Multi scenario driven, three businesses build an ecological Moat

During the reporting period, the three major business sectors of Yidu Technology developed synergistically.

Among them,Big data Platform and SolutionThe revenue during the period reached RMB 222 million. Despite the current challenges in the macroeconomic and market environment, Yidu Technology has gained customer trust through its long-term high-quality services and good reputation. The total number of customers in top research hospitals has increased to 88, and the number of customers for regulatory agencies and policy makers has increased to 34.

Life Science Solutions SectionDuring the reporting period, the revenue achieved was RMB 253 million. As of March 31, 2023, Yidu Technology has conducted 255 clinical studies, as well as 204 prospective and retrospective real-world studies. The intelligent clinical trial management organization services cover 174 clinical trial institutions. The continuous growth of cases has enabled the sector to develop and maintain a high-quality customer base. As of March 31, 2023, Yidu Technology has 167 active customers, including 154 core pharmaceutical, biotechnology, and medical device enterprise customers. Among the top 20 clients in terms of revenue, there are 6 multinational pharmaceutical companies and 17 listed companies.

Health management platform and solutions sectionThe revenue is RMB 330 million. With the support of medical intelligence technology and rich experience in scenario operation, Yidu Technology has the ability to provide a one-stop operation solution for "benefiting the people" in provinces and cities with a population of over ten million. As of March 31, 2023, Yidu Technology has won the bid and served the "Benefiting People's Insurance" business in 4 provinces and 12 cities including Beijing, Shenzhen, and Jiangsu Province.

Among them,

Looking forward to the future, the emergence of big models has brought new opportunities to the development of the medical AI industry. Yidu Technology will continue to explore in the field of medical verticals, continue to seize market opportunities through independent innovation and high-quality development, contribute intelligent forces to the intelligent transformation, upgrading, and high-quality development of the medical industry, and further consolidate the company's leading position in the medical intelligence industry, Adhering to the mission of "making value oriented precision healthcare benefit everyone", we aim to bring more value to healthcare industry participants and benefit more patients.

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Tag: Yidu Technology Financial Year 2023 Performance Multi scenario Strategic