On August 20, Ping An Health Medical Technology Co., Ltd. (stock abbreviation “Ping An Good Doctor”, 1833.HK), the world’s leading medical and health ecological platform, announced its first half of 2020 performance report. During the reporting period, Ping An Good Doctor maintained a good growth momentum and achieved total revenue of RMB 2.747 billion. Among them, the core business online medical service maintained a rapid growth rate of 106.8% against the market, contributing revenue of RMB 695 million.
1. The core business stands out and the overall revenue grows steadily
The new crown epidemic has caused a huge impact on the social economy and people’s lives, but on the other hand, it has also greatly promoted the demand for Internet medical services, increased the government and the public’s acceptance and recognition of online diagnosis and treatment services, and accelerated the Internet Medical development.
In the first half of 2020, Ping An Good Doctor’s core business: the accelerated release of online medical service capabilities and a significant increase in profitability. During the reporting period, the online medical segment achieved operating income of RMB 695 million, maintaining a rapid growth of 106.8% against the market; its revenue accounted for 25.3% of the group’s overall revenue, a significant increase of 10.5% from 14.8% in the same period in 2019. Driven by the strong growth of core business, the company’s total operating income reached RMB 2.747 billion, a year-on-year increase of 20.9%. Net loss narrowed by 22.1% year-on-year to RMB 213 million.
With the continuous improvement of business management efficiency and business operation capabilities, Ping An Good Doctor’s traffic indicators continue to climb to new highs, and the strategic focus is on medical realization. As of the end of June 2020, the number of registered users of the company reached 346 million, an increase of 30.98 million from the end of 2019, and a cumulative increase of 56.9 million in the past 12 months. In the first half of 2020, the average daily consultation volume of Ping An Good Doctor reached 831,000, a year-on-year increase of 26.7%. In terms of active users and paying users of the entire platform, in June 2020, the number of monthly active users and monthly paying users reached 67.27 million and 2.95 million, respectively, an increase of 7.3% and 32.3% year-on-year.
2. Comprehensively deploy medical insurance services and accelerate the promotion of Internet hospital projects
In recent years, Internet healthcare has become an important driving force for the “three-medicine linkage”, playing an important role in improving medical quality and reducing medical costs. The new crown epidemic that broke out at the beginning of this year has accelerated the implementation of the medical insurance payment system, and many governments have responded actively. Ping An Good Doctor quickly responded to the call of the state, comprehensively deployed medical insurance services, and fully promoted the construction of Internet hospitals.