【1833 Results】Ping An Good Doctor: AI Contributes 4.5% to Gross Margin, "AI+" Becomes Growth Core, Forecasts Increased Investment This Year

Ping An Good Doctor (01833) achieved significant growth in all key financial indicators last year following business structure optimization and efficiency improvements.

Key Financial Highlights

• Total Revenue: 5.468 billion RMB, up 13.7% year-on-year
• Net Profit: 380 million RMB, a substantial increase of 3.66 times year-on-year
• Adjusted Net Profit: 414 million RMB, a steady growth of 1.61 times year-on-year
• Earnings Per Share: 0.18 RMB
• Dividends: Not distributed

CEO He Mingke revealed that AI contributed approximately 80 million RMB directly to the company’s gross profit last year, accounting for about 4.5% of gross profit.

Strategic Focus: Not Developing Large Models, Focusing on “AI+” Vertical Applications

He emphasized that Ping An Good Doctor’s strategy is not centered on developing general large models but on the “AI+” model.

• Empowering Real Doctors: Using AI technology to assist medical teams, improve operational efficiency, and effectively reduce costs
• Long-term Health Management: Compared to pure AI models, “AI+ real doctors” offers professional support in health tracking and management

Open Collaboration Approach: Open to external large models, with primary consideration given to their performance and application capabilities

Currently, the “AI+ real doctors” service has achieved 100% coverage of individual customers within Ping An Group. Last year, nearly 12 million users utilized AI doctors.

Future Outlook: Over 70 Million RMB Investment to Strengthen Digital Healthcare

Zang Luqi, Executive Vice President and CFO, stated that the company invested nearly 70 million RMB in AI digital healthcare last year and will continue to increase investment this year to promote more AI-enabled medical scenarios.

Short-term Goals:

• Gross Profit: Continue to increase
• Profit Margin: Continue to optimize rates, aiming for higher industry-level net profit

Medium to Long-term Goals:

• Growth Target: Expect stable net profit margin to reach high teens
• Return on Investment: Last year’s ROI was 11%, expected to rise to 12% this year
• Dividend Policy: As cash flow improves, the company will comprehensively evaluate the possibility of revising its dividend policy to reward shareholders

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