On June 27, Zhitong Finance learned that China's AI medical industry leader, Medbanks Technology (02158), disclosed its performance for the 2024 fiscal year. During the reporting period, Medbanks Technology's gross profit margin significantly increased by 8 percentage points to 42.1%, reaching a historical high; after adjusting for net loss, it reduced losses by 64.8% to 158 million yuan from the same period last year.
Among them, the revenue of big data platform and solution sector in the reporting period achieved about 314 million yuan, a year-on-year increase of 41.4%. As of March 31, 2024, the company's top hospital clients increased by 14 to a total of 102 compared with the same period last year. The number of clients among regulatory agencies and policy makers increased by 9 to 43. It is worth mentioning that according to statistics from public bid information, Medbanks Technology's market share in research and development business ranks first in the industry.
The life science solution sector achieved a revenue of 324 million yuan, an increase of 28.1% year-on-year, and the gross profit margin increased by 14.6 percentage points to reach 32.1%, setting a record high. As of March 31, 2024, the income retention rate of the top 10 customers of the company was 151.1%, and the unit price increased by 75.4% compared with the same period last year. Among the top 20 multinational pharmaceutical companies, 16 are customers of the company.
The revenue of the health management platform and solution sector was 170 million yuan, and the gross profit margin reached 58.1%, an increase of 17.4 percentage points compared with the previous year. During the reporting period, the company continued to increase the market penetration rate of its 'Hui Min Bao' business. The company has won and provided services for 4 provinces and 12 cities, including Jiangsu Province, Beijing, and Shenzhen. As of March 31, 2024, the number of active users who completed at least one transaction on the health management platform increased to nearly 27.6 million.
In the face of new opportunities for technological innovation and industrial upgrading stimulated by generative AI technology that represents new production forces, Medbanks Technology continues to invest in AI technology, especially in the research and commercialization of large-language models for medical verticals. Training for models with parameters of 6B, 13B, and 70B have already been completed. The company's self-developed large-language model has passed the algorithm filing of the National Internet Information Office. In May 2024, Medbanks Technology's large model ranked first in the medical knowledge Q&A, medical language understanding, and medical safety and ethics, and the overall comprehensive score ranked first in the authoritative evaluation of MedBench launched by the Shanghai AI Laboratory and the Shanghai Digital Medical Innovation Center.