Recently, Yidu Technology (2158HK) announced its results for the first half of fiscal year 2024. The Company's total revenue for the first half of fiscal year 2024 was RMB35.6 billion yuan, gross profit margin increased by 12 percent year-on-year1 percentage point to 382%, a record high for the same period in history. Adjusted net loss narrowed to RMB54.1 million, down 759%。Among them, the life sciences solutions segment performed strongly.
During the Reporting Period, the revenue of Yidu Technology's life science solutions segment reached RMB17 billion yuan. Gross margin was 278%, up 133 percentage points, and the operational efficiency was further improved.
As of September 30, 2023, Yidu Technology has conducted 296 clinical studies and conducted 221 prospective and retrospective real-world studies. The company's intelligent clinical trial management organization services have covered 304 clinical trial institutions. The revenue retention rate of the company's top 10 customers is 1282%, 15 of the 20 leading multinational pharmaceutical companies are customers of the company.
In view of the problems of low recruitment rate, poor compliance, slow progress of clinical trials, and high cost of drug research and development in traditional clinical trials, under the guiding ideology of patient-centered drug research and development, based on Yiducore's core capabilities, and the network of top hospitals and experts accumulated in the big data platform and solution section, Yidu Technology has independently developed an integrated intelligent service platform, which mainly includes the research ward platform (IGCP) and the remote intelligent clinical trial system platform (DCT). During the reporting period, based on the self-developed integrated intelligent service platform, Yidu Technology completed the TAB014I1 phase clinical trial of Zhaoke Ophthalmology and the patient recruitment and enrollment of patients in the phase phase clinical trial of wet age-related macular degeneration of a biopharmaceutical company ahead of schedule, and continued to rapidly advance the progress of the two phase III clinical trials.
With the accumulated experience in the field of diseases and the intelligent service platform based on Yiducore's continuous iteration and upgrading, Yidu Technology has continuously strengthened its core competitiveness in the life science industry, continuously improved the repurchase rate of customers, and shortened the distance from molecules to patients. During the reporting period, Yidu Technology once again successfully won the bid for the phase B clinical research project of a certain type of new drug of a large biopharmaceutical company and the ** phase I clinical trial project of an innovative pharmaceutical company. In addition, with the synergy effect between the plates and in-depth research in the field of ophthalmic diseases, the company won the bid for the IIT research project of pediatric dietary prevention and control of myopia in the Eye Hospital Affiliated to Wenzhou Medical University.
Based on its rich real-world research capabilities and experience, Yidu Technology has won the bid for three retrospective real-world research projects related to cancer and pain with high technical requirements from an MNC customer, and has established exclusive strategic cooperation intentions in this research field. In addition, with its accumulated rich experience and strong technical strength, the company successfully won the bid for a project of a listed pharmaceutical company to use real-world evidence to assist in the expansion of indications of traditional Chinese medicine products.
Ms. Gong Rujing, Executive Director, Chairman and Founder of Yidu Technology, said: "Yidu Technology will continue to adhere to the original intention of 'green healthcare', adhere to long-termism, focus on profitability, adhere to independent innovation and high-quality development, strengthen the synergy between various business segments, and bring more value to participants in the medical ecosystem. ”