Yidu Tech (2158) H1 2025 earnings summary

Executive summary

• H1 FY2025 revenue fell 7.6% YoY to RMB329.4m, while the period loss narrowed 29.2% to RMB56.4m, supported by lower operating expenses and improved segment synergies.

• YiduCore processed and analyzed 5.5bn authorized medical records covering 1.1bn+ patients; solutions served 105 top hospitals, 40 regulators and policymakers, and 2,800+ hospitals.

Financial highlights

• Revenue was RMB329.4m, down 7.6% YoY; gross profit fell 13.8% to RMB117.4m, and gross margin declined to 35.6% from 38.2%.

• Operating loss narrowed 30.7% to RMB54.3m; net loss narrowed 29.2% to RMB56.4m, compared with RMB79.6m a year earlier.

• Selling and marketing expenses fell 30.1% to RMB72.4m; R&D expenses fell 9.6% to RMB93.7m; administrative expenses fell 3.7% to RMB57.2m.

• Net cash used in operating activities was RMB116.6m vs RMB290.5m; adjusted operating cash outflow, excluding third-party premiums and claims, declined 10.8% YoY to RMB183m.

Outlook and guidance

• Priorities: optimize medical vertical LLMs and YiduCore, deepen disease research, improve customer experience and operating efficiency, and expand the ecosystem through partnerships, investments and acquisitions.

• BDPS plans to expand hospital and regional networks, broaden customer use cases, improve product capabilities, and deepen disease-focused multisite research.

• LSS plans to expand analytics-driven clinical development and RWE solutions while retaining and growing its high-quality customer base; HMPS aims to add active users and develop AI-enabled services.