Ping An Healthcare and Technology Company posts solid rise in revenue in H1

The company, also known as Ping An Good Doctor, cites provision of customized services to users for its strong revenue growth in the first six months of 2018.

Ping An Healthcare and Technology Company Limited said today that its revenue grew strongly in the first half of the year by providing customized services to its users.

The Hong Kong-listed health care company, also known as Ping An Good Doctor, saw its revenues surge by 150.3 percent year on year to 1.12 billion yuan (US$160 million) during the six months ended June 30. In particular, revenues derived from the family doctor service business — the company’s core area — soared 91.4 percent year on year to 186.2 million yuan, according to the firm’s latest interim report.

The report also revealed that the company narrowed its net loss from January to June by 2.6 percent year on year to 444.2 million yuan.

The firm attributed the solid revenue growth to the integration of an artificial intelligence-empowered medical team, external doctors and offline network to satisfy the clients’ need for online consultations and drug purchases, express pharmaceutical delivery as well as offline follow-up medical treatment.

To accelerate the development of its offline presence, PAGD signed an equity transfer agreement today to acquire 100 percent of Ping An Wanjia Healthcare Investment Management Co Ltd. Wanjia Healthcare is committed to connecting and empowering primary health care institutions in China by providing them operational and management solutions.

PAGD's technology-enabled and tailor-made services have attracted 228 million registered users as of the end of June, which saw a surge of 50.9 percent over the same month in 2017 to 48.6 million monthly active users.

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