Airdoc Technology announces H1 revenue: 82.5 million, 120.6% year-on-year growth

DJ Airdoc Technology announces H1 revenue: 82.5 million, 120.6% year-on-year growth

EQS Newswire / 28/08/2023 / 09:57 UTC+8 
 
On August 25th, Airdoc Technology(02251.HK) announced the interim results of the Group for the six months ended June 
30, 2023. In the first half of the year, the company achieved a revenue of RMB82.5 million, an increse of 120.6% over 
the same period last year. The gross profit of the Group increased to RMB51.36 million by 132.7%, with a gross profit 
margin increased by 3.3% to 62.3%. The loss significantly narrowed down by 58.8% to RMB41.02 million. 
 
In the first half of 2023, all three business units delivered strong results, the number of service sites utilizing the 
company's SaMDs and health risk assessment solutions increased year-over-year to 3,331 from 2,681. And the cases 
detected are increased to 2.96 million from 1.63 million.In unit testing price, the company charged an average of 
RMB20.87 per Use for the Reporting Period, representing a year-over-year increase of 8.1% from RMB19.3 per Use for the 
same period in 2022. 
 
Expanding Production Capacity and Controlling Costs Show Results 
Airdoc Technology is an AI-based medical device company with an advanced platform of AI-empowered retina-based deep 
learning algorithms. Founded in 2015, Airdoc Technology is one of the first to provide AI-empowered retina-based early 
detection, diagnosis and health risk assessment solutions in China. 
 
Airdoc Technology's three main business pillars, Airdoc Medical, Airdoc Health, and Airdoc Eye Health delivered sollid 
grwoth, achieved revenue of RMB29.8 million, RMB21.7 million, and RMB31.0 million respectively, representing 
year-over-year growth of 137.3%, 26.0%, and 307.0%. 
 
The coverage rate of Airdoc Medical has achieved a significant improvement. The Airdoc-AIFUNDUS (1.0) was the first 
AI-empowered retina-based auxiliary diagnosis product that obtained the Class III medical device registration 
certificate from the NMPA for assisting physicians in medical institutions with detecting and diagnosing diabetic 
retinopathy. Airdoc Technology sold the Airdoc-AIFUNDUS (1.0) to 143 hospitals and 525 primary healthcare institutions. 
In addition, the company also implemented its AI-based solutions in over 210 health checkup centers across China. 
 
Meanwhile, the company has achieved internal hardware production, economies of scale, and improved cost control, 
resulting in a continuous reduction in hardware costs. In 2022, the company had completed the construction of the 
second manufacture facility in the High-tech Development Zone of Changsha, Hunan. The Changsha factory had passed its 
final testing last year and was ready to commence production. The Changsha factory currently has six production lines 
manufacturing three types of devices, with an annual production capacity of approximately 100,000 fundus camera per 
year. 
 
Through our efforts to continuously streamline costs, the gross profit margin increased from 59.0% for the six months 
ended June 30, 2022 to 62.3% for the six months ended June 30, 2023. The expanded capacity will enable Airdoc 
Technology to massively roll out the AIFUNDUSCAMERA-P into different sales channels. At the same time, the company will 
continue to streamline cost, improve gross profit margins, and minimize loss. 
 
Fostering Integrated of diagnosis and treatment: AGI applications Accelerte Growth 
Airdoc Technology plans to launch, in order of the detection rate, its in-house developed treatment and control 
solutions that are compatible with external treatment plans, so as to achieve the integration of diagnosis and 
treatment, which marks the next chapter in its business development. 
 
The company has already taken the first step and launched a product for treating myopia with appearance of tessellated 
retina, which ranks the first in the positive detection rate. This product won the highest award in the Geneva 
International Invention Patent. Airdoc Technology empowered the traditional treatments for strabismus and amblyopia by 
using its AI technologies and developed a myopia and amblyopia treatment product that are increasingly recognized by 
professional doctors and customers. 
 
Artificial General Intelligence (AGI) is the trend of the moment, with its applications becoming increasingly 
integrated into everyday life. Airdoc Technology intend to leverage AGI and large language model (LLM) by further 
incorporating them into its products and services. The company are actively formulating strategies to introduce AGI in 
its auxiliary diagnosis, disease detection and personalized medical advices, bridging doctors and patients conveniently 
and efficiently without constraints of time and space,and delivers health that are accessible and affordable. 
 
 
 
 
File: Airdoc Technology announces H1 revenue: 82.5 million, 120.6% year-on-year growth 
28/08/2023 Dissemination of a Financial Press Release, transmitted by EQS News. 
The issuer is solely responsible for the content of this announcement. 
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(END) Dow Jones Newswires

August 27, 2023 21:57 ET (01:57 GMT)