Hangzhou Kang Ming Information Technology Co., Ltd, trading under the moniker “ClouDr” on the Hong Kong Stock Exchange (HKG: 9955), has reported its financial results for the first half of 2024, demonstrating a robust year-on-year (YOY) increase of 17.9%, with total revenues reaching RMB 2.125 billion (USD 298 million). The in-hospital solutions business segment contributed RMB 1.688 billion, marking a substantial YOY growth of 20.2%, while the ex-hospital solutions segment reported revenues of RMB 437 million, up 9.6% YOY. The company’s adjusted net loss under non-International Financial Reporting Standards (Non IFRS) showed a significant reduction, narrowing down by 44.1% to RMB 32.9 million.
ClouDr has persistently expanded its collaboration with hospitals, broadening the scope of its in-hospital solutions and enhancing departmental coverage. A total of 2732 hospitals have adopted ClouDr’s SaaS platform, a leading solution for chronic disease management in China. This includes 822 Class 3A and 1139 Class 2 public hospitals, with notable coverage extending to 40 of China’s top 100 hospitals.
The ex-hospital solution business segment reported concurrent growth in revenue and gross profit margin. Over 228,000 pharmacies have installed ClouDr Pharmacy Solution, which is an upsurge of 27,900 compared to the similar period in the previous year, representing approximately 35% of pharmacies across China. The number of online consultations conducted on ClouDr’s Internet hospital platform surged to 116 million, reflecting a significant YOY increase of 43.9%.
Capitalizing on its robust in-hospital and ex-hospital infrastructure, ClouDr’s P2M (patient to manufacturer) strategy has yielded considerable outcomes, generating an operating revenue of RMB 108 million, which represents a YOY growth of 67%.- Flcube.com
