In recent years, with the continuous advancement of science and technology and the growing demand for health, the medical and health industry has maintained a strong momentum of development. At the same frequency as the development of the industry, Yuanxin Technology, a representative brand in China's medical and health industry, focuses on the entire medical service cycle of patients, and has established a patient-centered medical and health ecological virtuous cycle in line with the original intention of serving patients, which has strongly driven the development of China's medical and health industry. Recently, Yuanxin Technology was heard by the Hong Kong Stock Exchange, which means that the road to listing has taken a key step and ushered in a new node for enterprise development.
Yuanxin's business model focuses on the entire medical service cycle of patients, and ensures personalized and intimate services to patients through three pillars: out-of-hospital patient services, supply-side empowerment services, and medical industry-side empowerment services. In recent years, thanks to the synergy of the three major business segments, as well as the linkage of its brands such as Yuanxin Huibao, Yuanxin Medical, and Miaoshou Doctor, Yuanxin Technology has maintained long-term and good development and stable performance. In this PHIP listing prospectus, Yuanxin Technology disclosed the performance data for the first 8 months of 2023. The data shows that as of August 31, 2023, the total revenue of Yuanxin Technology is 629.6 billion yuan, a year-on-year increase of 343%, with a gross margin of 82%, also an increase. At the same time, the revenue of the three major business segments of Yuanxin Technology also maintained steady growth, and out-of-hospital patient services and medical industry empowerment services both achieved growth of more than 30%.
Take the medical industry empowerment business as an example. The prospectus discloses: As of August 31, 2023, based on this business, Yuanxin Technology has provided services to 177 insurance companies and eight reinsurance companies, cooperated with insurance companies to launch more than 40 new specialty drug insurance products, and assisted it in launching inclusive commercial health insurance in more than 120 cities, and distributed a total of 55 health insurance products. As of February 5, 2024, Yuanxin Technology has managed more than 73.7 million policies. Through this set of data, it can be seen that Yuanxin Technology has made important contributions to the construction of a multi-level medical security system.
With its unique "medical-pharmaceutical-insurance" whole-process business model, Yuanxin Technology has successfully created a complete closed-loop service and built a solid competitive barrier. At the same time, with its forward-looking strategic layout, Yuanxin Technology has also achieved good development and successfully passed the hearing of the Hong Kong Stock Exchange, which indicates that the dawn of its listing in Hong Kong is about to illuminate. With the help of market trends, Yuanxin Technology is also expected to achieve more significant growth and breakthroughs in the future.