China-based Ping An Healthcare and Technology Co., Ltd (HKG: 1833), also known as PingAn Good Doctor, has released its 2022 interim financial report. The report reveals a year-on-year (YOY) decline in total revenue and gross profits, alongside a significant reduction in net losses and continued growth in the number of paying users.
Financial Performance
During the period, PingAn Good Doctor reported total revenue of RMB 2.828 billion (USD 415.2 million), marking a 25.9% YOY decrease. Gross profits amounted to RMB 773 million (USD 113.4 million), down 24.6% YOY. However, the gross profit margin saw a slight increase to 27.3%, up from 26.8% in the first half of 2021. Net losses decreased by 51.6% YOY to RMB 426 million (USD 62.5 million).
User Growth and Business Metrics
As of June 30, 2022, the number of paying users exceeded 40 million, representing a 4.8% increase compared with the full year of 2021. Among these, business-end paying users surpassed 2 million, while financial-end paying users exceeded 33 million. The cumulative consultation volume maintained its industry-leading position, exceeding 1.3 billion person-times. The company also reported an increase in the number of serviced companies to 749. Notably, the proportion of “access online, to the store, and arrive home” network revenues in total revenues rose to 63%.-Fineline Info & Tech
