DALIAN, China, July 1, 2024 /PRNewswire/ — “AI in healthcare is extremely challenging. For companies, it requires not only solving scientific problems but also understanding AI technology and respecting the complexity of the healthcare industry.” At the 15th Annual Meeting of the New Champions, also known as Summer Davos, Ms. Gong Rujing (Yingying), Chairwoman and Founder of Yidu Tech, was invited as a distinguished representative of the healthcare technology sector. She shared her unique insights into the future of AI in healthcare during the thematic dialogue on “Healthcare Analytics, Not Moving Fast Enough.”

This year marks the 10th anniversary of Yidu Tech and Ms. Gong Rujing’s decade-long dedication to the healthcare industry. From the inception of her entrepreneurial journey 10 years ago, she has been driven by the mission to leverage the power of technology to deliver precise healthcare to every individual.

Ms. Gong described the past decade as a journey filled with miracles and achievements. During this period, Yidu Tech has progressively established close collaborations with key stakeholders in the healthcare industry, including government agencies, hospitals, pharmaceutical companies, insurance firms, experts, and clinicians. As of March 31, 2024, Yidu Tech’s “AI Medical Brain” YiduCore has been authorized to process and analyze over 5 billion medical records, covering more than 2,500 hospitals.

In AI-powered clinical research, Yidu Tech has supported researchers and clinicians in producing over 240 high-level papers, accelerating the application of research outcomes. Additionally, Yidu Tech provides clinical trial services to globally renowned pharmaceutical companies, helping them optimize trial processes, reduce costs, and bring new drugs to market more swiftly, ultimately benefiting patients. In healthcare management, Yidu Tech’s AI technology plays a crucial role by analyzing vast amounts of medical data to provide comprehensive decision support to healthcare administrators, helping them optimize resource allocation and improve service efficiency.

“We are now entering a new era of AI technology.” The development of large language model technologies has opened up new possibilities across various industries. Yidu Tech has independently developed a large language model specific to the medical field and is advancing its application across the entire healthcare industry chain. The goal is to promote further progress and innovation through new AI technologies. However, Ms. Gong also emphasized that the healthcare industry is professional, complex, and sensitive, and the application of new technologies must address challenges such as data security, privacy protection, and ethics.

Advertisement

“Data security and privacy protection are fundamental to the development of AI technology and medical big data technology. We must ensure that all stakeholders are satisfied with compliance, security, accessibility, and privacy protection.”

“AI technology still has a long way to go.” She called on policymakers, healthcare institutions, and technology companies to work together to realize the immense potential of healthcare data. Ms. Gong highlighted that building trust is key, and enhancing data operability is essential to fully unleash the power of data. “It’s not just about better data quality; it’s about a better future for health.”

View original content:https://www.prnewswire.co.uk/news-releases/transforming-healthcare-with-ai-yidu-techs-gong-rujing-at-summer-davos-302186561.html

HONG KONG, July 1, 2024 /PRNewswire/ — On June 27, 2024, Yidu Tech Inc. (the ”Company” or ”Yidu Tech”) (2158.HK), a leader in China’s AI medical industry, announced its results for the 2024 fiscal year. During the reporting period, the Company recorded revenue of RMB 807.1 million. Gross profit margin in FY2024 increased to 42.1% from 34.1% in FY2023, representing an increase of 8 percentage points, hitting a record high. Adjusted net loss narrowed from RMB 448.7 million in FY2023 to RMB158.1 million, down 64.8% year-on-year. The management of Yidu Tech said at the annual results conference the next day that excluding strategic investments in proprietary large language model, non-cash items, and non-operating items, the adjusted EBITDA for our current business has achieved profit, moving from a RMB 327 million loss to a profit of RMB 31.1 million for the first time this fiscal year.

Management added that as of market close on June 27, the Company’s P/B ratio has decreased to 1.06. Not including the valuation of its domestic and international businesses, its market value is still lower than its fund reserves on hand. As such, management believes that the Company’s share price is still severely undervalued. Notably, renowned sovereign fund BIA has continually increased its shareholding of Yidu Tech by 21.50% over the past two months. The management is confident in the Company’s long-term growth potential and hopes to continually create innovative technologies and increase returns to its shareholders.

In FY2024, Yidu Tech focused on its core business, improving internal operating efficiency and earning quality. Among its earnings, revenue from its big data platform and solutions segment reached RMB 313.6 million, an increase of 41.4% year-on-year. Revenue from its life science solutions segment reached RMB 324.0 million, up 28.1% year-on-year and the gross margin increased by 14.6 percentage points to a historical high of 32.1%. Revenue from its health management platform and solutions segment reached RMB 169.5 million, and the gross profit margin of this segment was 58.1%, representing a year-on-year increase of 17.4 percentage points.

During the reporting period, the Company has continued the development and training of large language model in the medical vertical field based on 500 billion fine-trained Tokens, with model training for 6B, 13B, and 70B parameters completed.

View original content:https://www.prnewswire.co.uk/news-releases/yidu-techs-fy2024-results-existing-business-achieves-first-full-year-profit-on-adjusted-ebitda-302185986.html

Advertisement

15% of Brits have planned their summer holidays around the Euros and Olympics

85% of Brits plan to spend as much or more on travel in the next 12 months as they did in the past 12 months, indicating a strong outlook for the travel and holiday sector

MANCHESTER, England, July 1, 2024 /PRNewswire/ — The announcement of the snap UK general election in May prompted nearly a third of Brits to alter their holiday plans, according to new consumer research from Travel Counsellors, the UK’s largest and fast-growing technology platform for travel entrepreneurs that connects over 2,000 independent business owners.

Despite the influence of the General Election on some people’s holiday plans, the consumer research also indicated that the travel sector is set to remain in rude health over the next 12 months, with 85% of people saying that they will spend as much or more on travel in the next year as they did in the last year. Moreover, the data indicated that travel remains Brits’ top spending priority over the next year, ahead of other discretionary categories such as fashion, eating out, and home and garden renovations.

The survey of 2,000 nationally representative respondents found that:

Advertisement

• 16% of Brits said they have altered their holiday plans to be in the UK at the time of the general election so that they could vote in person
• A further 14% of Brits said that they had altered their holiday plans to be around in the build-up and at the time of the general election as it’s an important moment for the UK
• Additionally, 15% of Brits said that they had planned their summer holidays around the Euros and Olympics, including choosing destinations where they can watch the matches and competitions in person. This is backed up by Travel Counsellors’ own booking data, with a more than doubling in customer bookings for departures to Germany in June.

Steve Byrne, CEO of Travel Counsellors, comments on the findings: “Demand for summer holidays and travel remains exceptionally strong, with our research indicating it remains the top spending priority for consumers, albeit this year a significant number of people are making plans around key events such as the Euros, the Olympics and the general election.

“At Travel Counsellors, we have seen very strong booking trends and consumer demand during the first half of the year, which underscores the enduring and growing importance of holidays in providing a much-needed escape and opportunity for relaxation.”

About Travel Counsellors

Travel Counsellors is the UK’s largest and fast-growing technology platform for travel entrepreneurs that connects over 2,000 independent business owners, ultimately enabling them to deliver exceptional levels of customer service. In the year to 31 October 2023, Total Transaction Value (“TTV”) on the platform was more than £900m, up more than 20% against the prior year. Travel Counsellors is multi-award-winning and has a five star, ‘Excellent’ rating on Trustpilot. It was founded in 1994. For further information about Travel Counsellors, please visit: https://www.travelcounsellors.co.uk/our-story/

Notes to Editors
The research was conducted by Censuswide, among a sample of 2,001 UK adults (Aged 16+). The data was collected between 20/06/24 and 21/06/24. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct which is based on the ESOMAR principles.

Advertisement

View original content:https://www.prnewswire.co.uk/news-releases/nearly-one-in-three-brits-altered-their-holiday-plans-to-be-in-the-uk-for-thursdays-general-election-302186028.html