The world-leading online healthcare ecosystem platform, Ping An Healthcare and Technology Company Limited, announced its interim results report for 2019. The report shows that in the first half of 2019, revenue growth remained robust across all business segments; the total revenue of the Company amounted to RMB2.273 billion, representing a year-on-year increase of 102.4%. In particular, revenue from Online Medical Services surged to RMB336.1 million, representing year-on-year growth of 80.5%. The Company's monthly paying users (MPU) reached 2.229 million, representing a year-on-year increase of 61.2%.
Solid monetization of a platform with considerable improvement in core operating indicators
In the first half of 2019, the online medical services, also known as the core business of Ping An Good Doctor registered an operating income of RMB336.1 million, representing a year-on-year increase of 80.5%. Meanwhile, the key operating indicators of Ping An Good Doctor also saw significant improvement: as of 30 June 2019, the number of registered users reached 289 million, an increase of 24.1 million from the end of 2018 and an increase of 61.3 million during the past 12 months; the number of monthly active users and monthly paying users at the end of the period grew to 62.7 million and 2.229 million respectively.
Flourish development with multi-channels and create an open healthcare ecosystem
Ping An Good Doctor's strategy for monetizing Online Medical Services will continue to be a collaboration with commercial insurance and offering membership products to the users. As of 30 June 2019, the Company has served over 1.4 million paid memberships. During the reporting period, Ping An Good Doctor also actively expanded its collaboration with other third-party commercial insurance companies and financial institutions. As of the end of July 2019, Ping An Good Doctor has signed strategic cooperation agreements with PKU Founder Life, Pearl River Life, Minsheng Life and Everbright Bank respectively. Ping An Good Doctor will leverage the competitive advantages to help the insurance companies and financial institutions differentiate and enhance their value proposition and solve their customer pain points in accessing quality medical services.
As the Company expands the ecosystem, the Company empowers its partners with the expertise in service, operations and technology. At the same time, the offline partners bring to the Company considerable user traffic as well as a vast pool of potential paying users, which in turn accelerate the monetization of the platform. As the ecosystem continues to improve, the Company is able to provide the users with more diverse medical and healthcare services, while fully supporting the rapid development of various businesses.
Frequent introduction of favourable policies contributes to the promising prospects of the Internet healthcare industry
Since 2018, the Chinese government has successively introduced a number of policies to encourage the development of the new field of "Internet + Healthcare". In June 2019, the State Council promulgated the Key Tasks for Deepening the Reform of the Medical and Healthcare System in 2019, requiring relevant authorities to issue detailed regulations of Internet healthcare service charges and reimbursement by Social Health Insurance by the end of September 2019. Recently, according to the information on the official website of National Healthcare Security Administration, the detailed regulations of Internet healthcare service charges are being formulated with the first draft completed, and it is expected that the detailed regulations of Internet healthcare service charges will be issued before the end of September. The frequent issue of various policies and promulgations is proof that the country is determined to continue to deepen and promote "Internet + Healthcare".
As a leader in the Internet healthcare industry, Ping An Good Doctor actively responded to state policies, and officially announced in January 2019 to build the cloud-based Internet hospitals, cloud-based Inte...
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