HONG KONG and SHANGHAI, Oct. 3, 2018 /PRNewswire/ — China’s leading one-stop healthcare ecosystem platform, Ping An Good Doctor (the "Company", stock code: 1833.HK), is pleased to announce that it has been selected as an eligible stock for Southbound Trading under the Stock Connect scheme of the HKEX (Hong Kong Stock Exchange), with effect from 10 September 2018. Mainland China investors who satisfy certain eligibility criteria can now directly invest in and trade the shares of Ping An Good Doctor through their inbound A-share accounts (both Shanghai Stock Exchange and Shenzhen Stock Exchange).
Ping An Good Doctor has an extensive user base and a vibrant healthcare ecosystem. The inclusion of Ping An Good Doctor to the Stock Connect scheme is testimony to the market’s recognition of the financial performance and growth potential of the Company. It can help expand the Company’s shareholder base, increase its share liquidity and enhance its reputation in the capital market, and therefore improve the Company’s shareholding structure and enhance investment value in the long run.
According to Frost & Sullivan’s report, along with the increasing awareness of healthcare, improvement of internet technology and increasing disposable income of Chinese citizens, the Chinese pan-healthcare sector has been growing rapidly in recent years. In 2016, the market size of the pan-healthcare sector reached RMB8.6 trillion and it is expected to reach RMB26.8 trillion in 2026. In addition, national policy has also helped to improve the prospects of the industry. The implementation of policies such as "Opinions on Promoting the Development of Internet+ Healthcare" helped the development of internet healthcare.
In this blue ocean worth trillions of RMB in market size, by integrating the medical team, external doctors and offline network, Ping An Good Doctor has established a closed-loop healthcare ecosystem which enables its users to enjoy online consultations and online drug purchases, as well as offline follow-up treatment on the strength of world-leading AI healthcare technology. At the moment, Ping An Good Doctor collaborates with approximately 3,100 hospitals (including more than 1,200 Class III Grade A hospitals), more than 2,000 healthcare institutions, including physical examination centers, dental clinics, cosmetic surgery institutions and more than 10,000 pharmacy outlets. Payment-wise, Ping An good Doctor actively explores diversified forms of partnerships with commercial insurance companies to provide policyholders with one-stop healthcare solutions and help the insurance companies manage policyholders’ health and enhance the insurers’ risk control.
Ping An Good Doctor recorded a revenue of RMB1,123 million for the first half of 2018, representing a year-on-year increase of 150.3%. Among which, the family doctor services business, the core business of the Company, recorded a revenue of RMB186 million, representing a year-on-year increase of 91.4%. As of the end of 30 June 2018, Ping An Good Doctor’s mobile application gained 228 million registered users (RU) and had 48.6 million monthly active users, making it the most popular mobile healthcare mobile application in China. According to the "Active Medical App in July 2018" released by Analysys, a well-known internet data research institute, the monthly active users (MAU) of Ping An Good Doctor’s App is almost double that of the total MAU of the other Apps ranking from second to tenth on the list. Ping An Good Doctor’s MAU is approximately six times greater than the App ranking second on the list, outpacing other competitors in terms of market share in the internet medical field.
In addition to achieving continuous breakthroughs in business, Ping An Good Doctor also actively carries forward its internationalization strategy and established an international joint venture with Grab, a technology company that offers ride-hailing services through an app, in order to export Ping An Good Doctor’s outstanding medical services and artificial intelligence (AI) technology. Ping An Good Doctor aims to pursue development opportunities in the Southeast Asian market, building a solid foundation for "the greatest medical healthcare ecosystem in the world", with the help of Grab’s large user base in the Southeast Asian market.
About Ping An Good Doctor (1833.HK)
Ping An Good Doctor is the leading one-stop healthcare ecosystem platform in China. By combining "mobile health + AI technology", the Company strives to provide every family with a family doctor, every person with an e-health profile and everyone with a healthcare management plan. Ping An Good Doctor has established a comprehensive, one-stop healthcare ecosystem covering family doctor services, consumer healthcare services, a health mall as well as health management and wellness interaction.
In April 2015, the App "Ping An Good Doctor" was officially launched. In May 2016, the Company completed an A round financing and raised US$500 million. In December 2017, the Company completed the pre-IPO financing from Softbank Vision Fund, during which it raised US$400 million. On 4 May 2018, Ping An Good Doctor became the No.1 listed internet health-tech company in the world when it joined the Hong Kong Stock Exchange, stock code 01833.HK. Our IPO cornerstone investors include Blackrock, Capital Group, GIC, Canada Pension Plan Investment Board, Khazanah Nasional Berhad, Swiss Re and CP Group.