HONG KONG, April 16, 2019 /PRNewswire/ — Analysys, China’s leading internet big data analysis institution, released its latest Top 1000 Apps Ranking List (March 2019 version) on 15 April 2019. According to Analysys, the traffic of the Ping An Good Doctor (01833.HK) App continues to lead the industry. Its monthly active users (MAU) was more than three times the sum of other similar apps on the list. Meanwhile, Ping An Good Doctor dominated the online healthcare industry with over 70% of market share in the online consultations sector.
The user traffic in the medical field experienced an overall recovery in March 2019, with three apps, including Ping An Good Doctor, Haodf and WeDoctor, on the list. Among them, Ping An Good Doctor’s dominance was clear and ticked all the boxes in core data dimensions, coming out on top for number of users, user activity and market share.
According to an industry research report released by Analysys in January 2019, Ping An Good Doctor maintained its rapid growth momentum by benefitting from market expansion and its "one-stop healthcare ecosystem platform", which meets users’ growing demand for high-quality medical and healthcare services.
Ping An Good Doctor has maintained rapid development across each of its business units, according to its 2018 annual report, In 2018, Ping An Good Doctor recorded revenue of RMB3.338 billion, representing a year-on-year increase of 78.7%. Among which, the family doctor services business, the core business segment of the Company, achieved strong performance and recorded a revenue of RMB411 million, representing a year-on-year increase of 69.6%. Monthly paying users ("MPU") reached 2.36 million, representing a year-on-year increase of 86.2%.
As of December 31, 2018, Ping An Good Doctor boasted an in-house medical team of 1,196 staff members and 5,203 contracted external doctors, covering almost 400 traditional Chinese medicine clinics, over 1,300 check-up centers, over 1,200 dental clinics and over 120 medical beauty clinics. There were nearly 47,000 clinics using the Wanjiayun clinic platform to provide users with one-stop medical services, including 24/7 online consultations, referrals, registrations, hospital admissions, second consultations and one-hour drug delivery.
In response to the strong business growth of the Company following its first set of annual results since its IPO in Hong Kong, Citi, JP Morgan, HSBC, UBS, Daiwa Securities, Macquarie and a selection of other well-known firms have commenced research reports on Ping An Good Doctor with an "Overweight" / "Buy" rating and a substantial target price raise.
In particular, JP Morgan expects that by launching new products and services and further penetrating the vast customer base of Ping An Group, the company can maintain its strong growth momentum in every business segment, especially the family doctor services. As the company is still in the early growth stage, JP Morgan expects operating leverage to gradually improve with the growing number of users.