China’s one-stop healthcare ecosystem platform, Ping An Good Doctor, yesterday announced its first annual results since listing: the company recorded a revenue of RMB 3.34 billion, representing a year-on-year increase of 78.7%. The three key indicators of the company – registered users, monthly active users (MAU) and monthly paying users (MPU) continued to grow at a rapid rate in 2018. As of December 31, 2018, the number of registered users of the Company reached 265 million, with an increase of 72.4 million year-on-year; MAU reached 54.7 million, representing an increase of 85.4%; MPU reached 2.36 million, representing an increase of 86.2%. The annual average conversion rate of MPU increased from 2.7% to 3.6%. Key statistics for 2018 At the end of 2018, Ping An Good Doctor had: Growth of core business and data collection The family doctor service sector, the core business of Ping An Good Doctor, achieved rapid growth in 2018 and recorded a revenue of RMB 411 million, representing a year-on-year increase of 69.6%. As of December 31, 2018, the company also accumulated nearly 410 million pieces of consultation data, covering several aspects of healthcare such as user consultation, drug purchase and health management, eventually generating 35,000 labels for various diseases. Due to the improvement of the AI-assisted medical system and optimisation of the operations of the in-house medical team, the daily average number of consultations reached 535,000 as of December 31, 2018, a year-on-year increase of 45.4%, maintaining a 98% user satisfaction rate. In January 2019, Ping An Good Doctor launched its One-minute Clinics across 8 provinces and cities in China and signed service contracts for nearly 1,000 units, providing healthcare services to more than 3 million users. As part of its internationalisation efforts, the company signed a Memorandum of Understanding (MoU) with Thailand’s Bangkok Dusit Medical Services (BDMS) in November last year.
Chinese health care platform Ping An Good Doctor’s user base grew to 265 million by the end of 2018, marking a 72.4% YoY increase. The company revealed the number while confirming its first annual results since listing earlier in that year, with it generating CNY3.34bn ($499m) in a 78.7% YoY revenue rise. Ping An Good Doctor’s monthly active users grew 85.4% to 2.36 million, while monthly paying users were up 86.2% to 54.7 million.The medical service is continuing to expand its offerings and partnerships.