According to Zhitong Finance APP, a combination of factors such as strong policy drivers, high market demand, large models推动़ industry chain breakthroughs, and diversified application scenarios are continuously uplifting the prosperity of the AI medical industry.

On November 25, the AI medical concept surged at the opening. On the news front, AI-assisted diagnosis has been included in the national medical insurance bureau's project guidelines for the first time. On November 23, the national medical insurance bureau stated at a related press conference that 17 batches of project guidelines have been compiled and published so far, in order to unify guidance for local price standardization. To support the relatively mature AI-assisted technology in clinical applications while avoiding additional burdens on patients, the national medical insurance bureau analyzed the potential application scenarios of AI and established 'AI-assisted' expansions in radiology examinations, ultrasound examinations, and rehabilitation projects.

Wang Wen from Guokai Securities pointed out that with the further maturity of related technologies, the improvement of policies in related application fields, the commercialization of ai technology in the medical field will gradually take shape.

AI medical leaders show impressive performance.

In the market, benefiting from the improvement in the industry prosperity, AI medical companies represented by Yidu Technology (02158) continue to enhance their core competitiveness and deliver impressive results.

For instance, Yidu Technology, which has just released its interim performance report for the 2025 fiscal year, continues to invest in AI technology, particularly in the development and commercialization of its self-developed Yidu Technology large model, to solidify the company's leading position and competitive advantage in the industry and improve profit quality. In terms of performance, the adjusted EBITDA of the company’s existing business management metrics has turned from a loss to profit since the previous fiscal year, continuing to achieve profits exceeding 27 million yuan, with mid-term profitability levels being roughly on par with the total for the 2024 fiscal year, which also represents the best level in the same historical period.

For a long time, the ai medical industry has faced commercialization dilemmas. The profitable trajectory maintained by Yidu Tech has undoubtedly injected a "strong shot in the arm" into the entire industry.

In addition, the company's large model has multiple successful applications. In the big data platform and solutions sector, the company launched an AI middle platform, empowering the medical field with the capabilities of the large model, enabling users to independently develop intelligent applications. China International Capital Corporation stated that products like the AI middle platform are expected to bring new growth opportunities to the company. This can also be seen from the recent large bid won by Yidu Tech. Yidu Tech secured a 21.76 million yuan project for a health care big data platform in Tianjin Binhai New Area, which not only includes established products and services like managing residents' health records and chronic disease management but also introduces large model intelligent consultation services for the first time.

Moreover, in the life sciences solutions sector, Yidu Tech launched a patient recruitment intelligent agent based on a large model for understanding medical records, improving the efficiency of clinical trial recommendations and the use of medical record data. In the health management platform and solutions sector, the private health consultant developed based on Yidu Tech's large model—the "Happy Health Technology" mini-program—has also deeply integrated with the "Hui Min Bao" business that the company has been focusing on, providing intelligent exclusive services such as health records and health follow-ups to over 5 million "Hui Min Bao" users.

Compared to other AI medical companies focusing on specific fields, Yidu Tech's advantage lies in its extensive application scenarios and experience accumulated over the past 10 years. Based on its customer base, Yidu Tech provides solutions to 105 top hospitals in china and 40 regulatory agencies and policymakers, with the number of life sciences clients reaching 71. This provides strong support for expanding the application of new technologies and products like large models, thereby increasing market share. On the other hand, the profound industry understanding and expertise accumulated also provide valuable "nourishment" for the research and innovation of new technologies.

Multiple bullish signals open up imaginative possibilities.

Just before and after Yidu Tech’s latest financial report was released, AI medical stimulus policies were introduced one after another, bringing broader market space for the vigorous development of the industry.

First, the Shanghai exchange announced the launch of the first batch of compliant, tradable data products in the national medical system. Medical data has immense value and can be applied in various fields such as disease research, new drug development, and medical insurance development, which has been hailed in the industry as a "sleeping gold mine." With the joint exploration of hospitals, regulatory parties, and the industry, the application of medical data is expected to usher in accelerated development.

On November 7, the National Healthcare Security Administration held a seminar on the data empowerment of commercial health insurance development, inviting institutions such as china life insurance, the people's insurance, Taikang Life, and Cigna Life Insurance to participate, releasing bullish signals for the sharing of medical insurance, medical data, and commercial insurance. Whether it is bullish insurance products, or the insurance service scenarios that benefit from this, or the entire chain of insurance, there is significant imaginative space.

Immediately following that, on November 20, the National Medical Insurance Administration's official website released the "Guidelines for Project Establishment of Medical Service Prices for Radiological Examination (Trial)", in which particularly noted in item 4 and item 24, that AI-assisted diagnosis, as an extension of the main examination projects, falls within the applicable scope of extending only the main project price without additional charges, and the prices of subsidiary items are executed according to the main project's pricing, and cannot be charged simultaneously with the main project. AI-assisted diagnosis has been incorporated into the pricing structure of medical services by the National Medical Insurance Administration, which not only responds to the expectations from all sectors of society regarding the application of AI in medical care but also paves the way for the clinical implementation of AI-assisted technology.

Under multiple bullish factors, the development of the AI medical industry and leading companies like Yidu Tech have also been unanimously bullish in the market. According to a report from Global Market Insights, it is expected that the 'AI + medical' market will have a compound annual growth rate exceeding 29%, reaching 70 billion USD by 2032. Several institutions such as Citi, Everbright, and China International Capital Corporation released research reports immediately after Yidu Tech's mid-term financial report for fiscal year 2025, giving Yidu Tech a 'buy' rating.

Using a description from Guosheng Securities for Nvidia, behind Yidu Tech's financial report is also the long-term sustainability and growth of AI medical, which can be demonstrated from various perspectives including technology-driven, demand structure, and competitive landscape, validating that the long logic of AI narratives has not wavered. Yidu Tech's management also clearly proposed the path of 'AI for ROI' at the earnings release.

As of November 26, before the press deadline, Yidu Tech's stock price surged over 24%, trading at 6.06 HKD.