Connect with us

Technology

Yidu Tech Announces Annual Results for FY 2024: Existing Business Achieves First Full-Year Profit on Adjusted EBITDA

Published

on

HONG KONG, June 30, 2024 /PRNewswire/ — Yidu Tech Inc. (“Yidu Tech” or the “Company”, together with its subsidiaries and consolidated affiliated entities, the “Group”, HKEX: 2158) announced its annual results for the fiscal year ended 31 March 2024 (“FY2024” or the “Reporting Period”). The management provided detailed explanations on the key performance highlights, development strategies, and future outlook. Owing to the Company’s “Focus” strategy, Yidu Tech has seen further improvements in operational efficiency, profitability, and business competitiveness.

The Company’s total revenue in FY2024 was recorded at RMB 807.1 million, and gross profit margin increased to 42.1% from 34.1% year-on-year (“YoY”), representing an increase of 8.0 percentage points, hitting an all-time high. Adjusted net loss narrowed from RMB448.7 million to RMB158.1 million, down 64.8% YoY, and cash flow continued to be optimized. During the reporting period, the Company continued to invest in AI technology, especially in the development and commercialization of its proprietary large language model in the medical vertical field to maintain a leading position in the opportunities of the large language model era.

During the results conference, Yidu Tech’s management stated 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 profitability, moving from a RMB 327 million loss to a profit of RMB 31.1 million for the first time this fiscal year. “It further elaborated that this could be largely attributed to the effects of the Company’s timely adoption of the ‘Focus’ strategy. In the face of new opportunities for technological innovation and industrial upgrading driven by generative AI technology, the Company seeks to further play a leading role in innovation, accelerate the commercialization of large language models in healthcare, and provide safer, more inclusive, and more precise intelligent solutions for the entire medical ecosystem, in order to create long-lasting value for investors.”

Yidu Tech’s management commented during the results conference that the Company’s operating cash outflow continues to improve, and that it is no longer spending extensively on its operations. Over the past three fiscal years, the Company’s net operating cash outflow has decreased consecutively each year. In FY2022, the figure was recorded at RMB 639 million, in FY2023, it decreased to RMB 463 million, and in FY2024, it further dropped to RMB 230 million. If this trend continues, cash flow is expected to break even in the new 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.

Continuous Upgrade of the “AI Medical Brain”, Breakthroughs in “Technology + Application”

Over the past year, the Company has continued to upgrade and iterate YiduCore, its “AI Medical Brain”, comprehensively strengthening its functions in processing efficiency, comprehension and reasoning capabilities, as well as precise adaptation to complex application scenarios. 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. Yidu Tech’s proprietary large language model has passed the deep synthesis service algorithm filings of Cyberspace Administration of China.

In terms of data, YiduCore has cumulatively processed and analyzed more than 5 billion authorized medical records from over 1 billion patients, covering over 2,500 hospitals.

In terms of algorithms, in May 2024, in the MedBench evaluation, an authoritative evaluation platform launched by Shanghai AI Laboratory and Shanghai Digital Medicine Innovation Center, Yidu Tech’s large language model ranked first in each of the three key dimensions of medical knowledge Q&A, medical language understanding, and medical safety and ethics, and achieved the highest overall score.

In addition to technological breakthroughs, YiduCore’s commercial applications have also continuously expanding. By leveraging Yidu Tech’s large language model, the Company has enhanced project sustainability and provided 24/7 health management services to over 5 million users.

Large Language Model Empowering a Comprehensive Healthcare Ecosystem Solution, Three Major Segments Progressing in Synergy

Driven by the core technologies of YiduCore, the Company’s three major business segments are progressing in synergy, further solidifying its prominent market position.

During the reporting period, the revenue of the Company’s Big Data Platform and Solutions segment reached RMB 313.6 million, representing a YoY increase of 41.4%. As of 31 March 2024, the total number of the Company’s top hospital clients increased by 14 to 102 as compared to the same period last year, while the number of regulator and policymaker clients increased by 9 to 43.

Revenue from the Company’s Life Sciences Solutions segment amounted to RMB 324.0 million, representing a YoY increase of 28.1%, with gross margin increasing by 14.6 percentage points to a historical high of 32.1%. As of 31 March 2024, the Company achieved a 151.1% revenue retention rate for its top 10 clients in terms of revenue, with average transaction value of customers increasing by 75.4% YoY. Among 20 of the top multinational pharmaceutical companies (MNCs), 16 of them constitute the Company’s clients. In terms of clinical research, the Company has performed 321 clinical research cases, including clinical trials sponsored by pharmaceutical companies and investigator-initiated trials, as well as 246 prospective and retrospective real world studies (RWS).

Finally, revenue from the Health Management Platform and Solutions segment was recorded at RMB 169.5 million, with gross profit margin hitting 58.1%, up 17.4 percentage points YoY. During the reporting period, the Company continued to increase its market penetration rate of the government’s supplemental Medicare program, Hui Min Bao (惠民保), as well as cumulatively winning bids and serving 4 provinces and 12 cities, including Jiangsu Province, Beijing, Shenzhen etc. As of 31 March 2024, the number of active users who have completed at least one transaction on Yidu Tech’s health management platform increased to nearly 27.6 million.

The arrival of the large language model era has accelerated the popularization and penetration of artificial intelligence in the healthcare industry. As a leading company in China’s AI medical industry, Yidu Tech strives to seize any relevant market opportunities created by generative AI and large language models by firmly investing and innovating in this domain. At the same time, the Company will also continue to consolidate its business model, improve operational efficiency, and achieve sustainable improvements in profitability and growth, in order to generate increasing long-term, high-quality value to stakeholders in the healthcare ecosystem.

View original content:https://www.prnewswire.com/news-releases/yidu-tech-announces-annual-results-for-fy-2024-existing-business-achieves-first-full-year-profit-on-adjusted-ebitda-302185832.html

SOURCE Yidu Tech

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Pillsbury Notice of Data Breach

Published

on

By

NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html

SOURCE Pillsbury Winthrop Shaw Pittman LLP

Continue Reading

Technology

From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

Published

on

By

SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

View original content to download multimedia:https://www.prnewswire.com/news-releases/from-remote-racing-to-embodied-ai-fibocom-and-intedigo-bring-5g-bidirectional-data-transmission-into-real-world-applications-302828996.html

SOURCE Fibocom Wireless Inc.

Continue Reading

Technology

DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

Published

on

By

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

Continue Reading

Trending