Original title: Ping An Good Doctor’s net loss in the first half of 2021 was 879 million yuan, an increase of 312.4% year-on-year
[TechWeb]On August 25, Ping An Good Doctor (1833.HK) announced its first half of 2021 results. In the first half of 2021, Ping An Good Doctor’s total revenue was RMB 3.818 billion, a year-on-year increase of 39.0%; gross profit was RMB 1.025 billion Yuan, an increase of 24.8% year-on-year; gross profit margin was 26.8%, a decrease of 3.1 percentage points from the gross profit margin of 29.9% in the first half of 2020; net loss was RMB 879 million, an increase from the net loss of RMB 213 million in the first half of 2020 312.4%.
In the financial report, Ping An Good Doctor disclosed the income of each business in four business lines: “Medical Services, Consumer Healthcare, Online Shopping, Health Management, and Interactive Business“.
Among them, during the reporting period, the business income of medical services was RMB 1.067 billion, a year-on-year increase of 50.6%, mainly derived from member service products (including Zhenxiang RUN, Ping An Good Doctor Private Doctor, etc.) and accompanying online consultation services. The growth of electronic prescription drug purchases and drug sales in the drugstore network; the gross profit margin of the medical service business segment was 51.9%, a slight decrease of 2.1 percentage points from 54.0% in the same period in 2020. The main reason for the decrease in gross profit margin is that compared with the impact of the epidemic last year, the performance rate of services in membership products has gradually recovered.
In terms of consumer medical care, in the first half of the year, Ping An Good Doctor has focused on developing corporate customer channels, and the product package for group medical examinations has brought growth in medical examination business income. In the first half of 2021, the revenue of consumer medical services reached RMB 714 million, a year-on-year increase of 66.1%; gross profit margin was 39.1%, a year-on-year decrease of 10.0 percentage points. After the epidemic, more and more users went offline to perform consumer medical services. The gross profit margin level gradually returned to the level before the epidemic.
During the reporting period, revenue from online shopping mall business was RMB 1.909 billion, an increase of 27.9% over the same period last year. Affected by intensified industry competition, the gross profit margin of online shopping malls fell 3.0 percentage points from the same period last year to 5.8%.
In addition, the revenue of health management and interactive business in the first half of the year was RMB 129 million, an increase of 11.2% year-on-year; the gross profit margin was 63.6%, a year-on-year decrease of 19.1 percentage points.
In terms of operational data, as of June 30, 2021, the cumulative number of registered users of Ping An Good Doctor reached 400 million, an increase of nearly 55 million over the same period in 2020, a growth rate of 15.7%; as of June 30, 2021, nearly 12 The number of monthly paying users reached 32.1 million, a year-on-year increase of 69.6%.
As of June 30, 2021, the total available funds of Ping An Good Doctor amounted to RMB 14.581 billion. Among them, cash and cash equivalents are RMB 3.779 billion, restricted funds are RMB 76 million, time deposits are RMB 2.572 billion, and financial assets are RMB 8.153 billion.
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