China-based Alibaba Health Information Technology Ltd (HKG: 0241) has released its financial report for the year ended March 31, 2023, recording RMB 26.763 billion (USD 3.8 billion) in revenue, marking a 30.1% year-on-year (YOY) increase. The company’s net profit for the year reached RMB 534 million (USD 76 million), a significant turnaround from the RMB 266 million loss reported the previous year. The Tmall healthcare platform now boasts nearly 300 million active annual users, with 28,000 merchants on the platform.
Self-Operated Business and User Growth
During the period, AliHealth’s self-operated business generated RMB 23.592 billion (USD 3.4 billion), up 31.7% YOY. As of March 31, 2023, its online self-operated shop has hosted over 130 million active annual consumers, an increase of 20 million from the previous year. In the prescription drugs sector, the company established 19 “health care centers” in partnership with Novartis, Pfizer, and others. The company has also enhanced its smart supply chain system, with a distribution network of 39 warehouses in 22 locations as of March 31, 2023, including 28 drug warehouses. Customer service has seen continuous improvement, with 7*24 hours departmental medication guidance capabilities.
Healthcare and Digital Service Expansion
AliHealth’s healthcare and digital service business generated RMB 933.5 million, up 45.7% YOY. The firm has established an online-offline healthcare service system that includes traditional Chinese medicine, health check, nucleic acid testing, consultation, and registration services through platforms such as Taobao.com, Tmall, Alipay, and Medical Deer APP. As of March 31, 2023, nearly 200,000 licensed physicians, pharmacists, and dieticians have signed contracts with AliHealth to provide online health consulting services, with an average daily online consultation service volume of over 400,000. AliHealth Internet Hospital has established patient management capabilities in 17 core disease areas and has cooperated with dozens of well-known pharmaceutical enterprises, including Organon, UCB, LEO Pharma, etc. During the reporting period, the number of chronic disease users reached nearly 9 million, up 35.2% YOY.
Drug Tracking Platform and Partnerships
Ali Health’s in-house drug tracking platform now covers the entire spectrum from drug manufacturing to distribution, retail pharmacy, and medical institutions, with partnerships with over 300 top-tier pharmaceutical companies.-Fineline Info & Tech
