backgrounds

The company is an artificial intelligence-enabled medical solution provider, providing products and solutions that support a variety of medical services from health risk warning, early detection, assisted diagnosis and treatment, and evaluation of treatment effects to post-diagnosis management and chronic disease management. The company independently developed artificial intelligence technology to support the company's products and solutions. The company provides (i) primary care services; (ii) hospital services; (iii) patient services; and (iv) regional management platform solutions.

summary

Market opportunities: The artificial intelligence industry has experienced technological breakthroughs such as big models, especially large models in specific fields, and has excelled in medical-related NLP tasks. According to Frost & Sullivan's data, the big model is expected to promote global economic growth in the near future, and the big model in specific areas provides significant market opportunities for specific and complex industries, including healthcare. According to Frost & Sullivan's data, the Mainland medical artificial intelligence market is estimated to increase from RMB 8.8 billion in 2023 to RMB 315.7 billion in 2033, with a compound annual growth rate of 43.1% from 2023 to 2033. As a leader in the medical artificial intelligence industry in mainland China, which promotes the development and commercialization of large-scale medical models, the company believes that the company has the ability to seize market opportunities using the Spark Healthcare Big Model in the Mainland.

Competitive advantage: According to Frost & Sullivan's data, as of the last practical date, the intelligent medical assistant introduced by the company was the first and only artificial intelligence robot in the world to pass the National Medical Qualification Examination (Comprehensive Written Examination). According to the same source, in terms of revenue, the company's smart medicine assistant ranked first in the Mainland Primary Care Organization CDSS market in 2023, with a market share of 61.5%. The company's intelligent medical assistant won the first prize in the “Medical Artificial Intelligence” theme competition of the “1st National Digital Health Innovation Application” competition co-hosted by the National Health and Health Commission and other regional management organizations in 2023.

Large scale commercialization: The company has accumulated a broad customer base, including primary care institutions, hospitals, patients and other individual customers and district management organizations. As of 2021, 2022, December 31, 2023, and June 30, 2024, the company has served a total of 438, 639, 1,007 and 1,207 customers, in addition to the company's video cloud platform and customers of medical devices and hearing aids.