Mediwelcome Announced 2022 Interim Results

Sep 23, 2022 | Business

A China’s leading provider of digital medical service solutions – Mediwelcome Healthcare Management & Technology Inc. (“Mediwelcome” or the “Company”, and together with its subsidiaries, the “Group”) (Stock Code: 2159), announced the unaudited consolidated interim results for the six months ended 30 June 2022 (the “Reporting Period” or the “First half of 2022”).
In the first half of 2022, Mediwelcome has narrowed in revenue and other aspects to varying degrees due to the continuous lockdown in many provinces in response to the severe pandemic in the PRC. In the first half of 2022, Mediwelcome’s revenue decreased by approximately 49.2% to approximately RMB172.5 million YoY. Gross profit was approximately RMB17.3 million. During the Reporting Period, the Group’s primarily generated revenue from medical conference services, marketing strategy and consulting services, and patient education and screening services, etc.

Continuously expanding the medical digital marketing solutions and online healthcare platforms, and striving for digital upgrading

Although the economic environment is facing great challenges under the epidemic situation, Mediwelcome always insists on continuously expanding and consolidating its integrated healthcare marketing solutions and made a concerted effort to develop its online healthcare platforms and fully implemented digital upgrade for the businesses. During the Reporting Period, medical conference services was the main revenue stream and recorded revenue of approximately RMB111.3 million, accounting for 64.5% of the total revenue. To strengthen the Group’s conference management capabilities, Mediwelcome has launched the Conference+ App for medical NGOs and pharmaceutical companies to submit onsite conference requests and monitor conference implementation. In terms of marketing strategy and consulting services, through this service, the Group assisted pharmaceutical companies in formulating and implementing effective business strategies in enhancing their brands and product awareness among physicians. During the Reporting Period, marketing strategy and consulting services recorded revenue of approximately RMB41.3 million, accounting for 23.9% of the total revenue. Patient education and screening services and CRO services recorded revenue of approximately RMB14.3 million and RMB3.7million, accounting for 8.3% and 2.1% of the total revenue, respectively.

As of June 2022, the Group has developed and iterated multiple medical digital marketing platforms and products to provide customers with customised medical digital marketing solutions, including the Giraffe Smart Medical Platform, Digital Patient Management Platform, E Conference, Giraffe Live, Deer Class, E Creation, E Insight and other products. As at 30 June 2022, the digital platforms have enrolled 384,965 registered doctor users, held 46,518 online education sessions with doctors and 25,687 online education sessions for patients, livestreamed 4,855 times, with 6,319 videos available and viewed by 1,086,328 visitors.

Meanwhile, Mediwelcome has sustained its effort to develop and expand its online healthcare platforms to cater for the increasing needs of various stakeholders in the medical field, including hospitals, doctors as well as pharmaceutical and medical equipment companies. The Group’s online healthcare platform, on top of providing doctors and patients with consistent and quality online medical service solutions, has also actively developed products and services of digital management for patients with chronic illnesses in the out-of-hospital context. As at 30 June 2022, the number of its registered doctor and patient users has reached 45,244 and 200,545, representing an increase of 69.9% and 321.2% YoY, respectively. In addition, due to the increase in the number of active patient users purchasing prescribed medicine through the Group’s internet hospital platform, revenue from internet hospital services increased by approximately 5.6% to approximately RMB1.9 YoY.

Continuously upgrading the digital marketing business, seizing the growth opportunities to create greater value

Looking forward, Mediwelcome will continue to enhance the scale of digital marketing business, and utilize its internal and external strengths and resources and focus more on customer development for digital marketing in the healthcare market. At the same time, the Group will sustain its effort to build a digital platform with precise access targeting doctors and patients, providing customers with integrated digital and intelligent marketing solutions using a digital integrated marketing system synergised by both offline and online channels, so as to create a closed loop for the whole process of digital operation. The Group will continue to upgrade its online healthcare platform and explore the application of AI technology to build a closed-loop business model from inside to outside hospitals. In addition, Mediwelcome will also leverage the favorable health policy environment and its own resources to maintain revenue growth of its professional medicine and marketing services in the traditional cardiovascular and cerebrovascular discipline, with a focus on expanding its business in the fields of oncology and chronic renal diseases to increase the coverage of customers from domestic enterprises.

The Group will continue to maintain its business scale in the traditional dominant therapeutic fields, and actively drive innovation in order to seize the opportunities arising from the rapid growth in demand for medical digital marketing and online healthcare for its steady development. While actively generating profits under its efficient operation, the Group persistently expands and develops its business model and scale to create greater value for more customers, doctors and patients.

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