Ping An Healthcare Reports Over 50% Revenue Rise Last Year as Users Decuple
Xu Wei
DATE:  Feb 13 2020
/ SOURCE:  yicai
Ping An Healthcare Reports Over 50% Revenue Rise Last Year as Users Decuple Ping An Healthcare Reports Over 50% Revenue Rise Last Year as Users Decuple

(Yicai Global) Feb. 12 -- China's largest online medical platform Ping An Healthcare and Technology's revenue rose by more than 50 percent last year and the number of its app's new registered users has increased by 10 times since the outbreak of the novel coronavirus pneumonia epidemic, the company said in its 2019 annual results report released yesterday.

Ping An Healthcare's platform has had 1.11 billion visits since the epidemic's outbreak and the number of average daily consultations by its app's new customers has been nine times the usual volume, the firm said.

The pestilence has fueled demand for online diagnosis and consultation and the urgency of the contagion's spread has spurred the construction of internet medical platforms at all levels, an analyst from China International Capital Corp. said, adding this year is expected to be a boom time for the sector, with growth exploding.

"The fight against the epidemic, coupled with policy support for web-based medical treatment, will fully spur demand for [it] among the common folk, and this will be fundamental to the entire sector and good for a long time. The unique advantages of good, safe doctors will also come into full play in the epidemic and win recognition from government and ordinary people," said Wang Tao, chairman of Ping An Healthcare.

The company's total revenue was about CNY5.1 billion (USD727.3 million) last year in a 52 percent annual rise. Its online medical income from its core business jumped 109 percent to CNY858 million (USD123 million), while its net loss dropped 18.2 percent to CNY747 million.

The firm's shares [HKG:1833] closed down 5.43 percent HKD72.30 (USD9.30) today, however.

Editor: Ben Armour

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Keywords:   Ping An Healthcare