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Yidu Tech Announces Annual Results for Fiscal Year 2021

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Yidu Tech Inc. (“Yidu Tech” or the “Company, together with its subsidiaries and consolidated affiliated entities, the “Group”, HKEx: 2158), a healthcare big data and artificial intelligence solutions provider, announced its audited consolidated financial results for the fiscal year ended March 31, 2021 (“FY2021” or the “Period”).

FY2021 Key Highlights

  • Total revenue increased 55.4% year-on-year (“YoY”) to RMB867 million:
    • Revenue from Big Data Platform and Solutions increased 8.1% YoY to RMB402 million;
    • Revenue from Life Sciences Solutions increased 79.3% YoY to RMB184 million;
    • Revenue from Health Management Platform and Solutions increased 353.1% to RMB252 million.
  • Gross profit increased 123.4% YoY to RMB327 million; gross margin rose 11.5 percentage points YoY to 37.8%.
  • Non-IFRS adjusted net loss narrowed by 14.7% YoY to RMB275 million.
  • As of March 31, 2021, the Company’s data intelligence infrastructure had covered more than 500 hospitals in over 20 provinces in China, and supported the development of disease registries covering over 50 disease areas to greatly improve the efficiency and effectiveness of the production of research-grade evidence. Nearly one hundred papers have been published based on the Company’s disease registries.

Ms. Gong Yingying (Rujing), Chairlady, CEO and Founder of Yidu Tech, remarked, “As the COVID-19 pandemic (“Pandemic”) brought enormous challenges and uncertainties to the global and Chinese economy, it also underlined the urgent and multi-faceted needs for precise public health management and digital health solutions. FY2021 was an extraordinary year for the Company. Committed to our mission of making precision healthcare accessible to everyone, we continuously enhanced our data intelligence infrastructure and core capabilities in the three major areas of scientific research, diagnosis and treatment, and management, and accelerated the transformation of data to insights to personalized healthcare and efficient clinical development solutions, thereby creating more value for stakeholders across the healthcare ecosystem.”

Rapid growth in revenue and profit driven by favorable policies and continuous technological advances

Yidu Tech works proactively to advance technology and promote innovation in order to address pain points in the digital transformation of the healthcare industry, all while closely adhering to government plans and policies that influence the industry. In FY2021, the Company continued to solidify its healthcare big data infrastructure, YiduCore, while actively expanding new and complementary businesses built upon YiduCore to serve existing and new customers. During the Period, the Company recorded total revenue of RMB867 million, representing a YoY increase of 55.4%, and a gross margin of 37.8%, up by 11.5 percentage points YoY. The quality and efficiency of Yidu Tech’s data processing capabilities continued to improve and as of March 31, 2021, its YiduCore had covered more than 500 hospitals in over 20 provinces.

Yidu Tech continues to enrich its labelling system for various disease areas by collaborating with renowned hospitals and experts, and utilizes symbolic knowledge inference models, deep learning and other AI technologies to constantly refines and qualifies its real-world disease models. To-date, the Company has built disease registries covering over 50 fields of diseases to improve the efficiency and effectiveness of the production of research-grade evidence. Nearly one hundred papers have been published based on the Company’s disease registries. As of March 31, 2021, Yidu Tech had applied for 905 patents (including 552 invention patents), of which 482 patents (including 59 invention patents) had been authorized and approved, demonstrating the continuous enhancement of the Company’s research and development capabilities.

Robust growth across all three key business segments to continue empowering the healthcare ecosystem

Despite the challenges posed by the Pandemic, Yidu Tech delivered strong performance and maintained solid growth in total revenue and gross profit for its three key business segments.

During the Period, the Big Data Platform and Solutions segment recorded total revenue of RMB402 million, representing a YoY increase of 8.1%, and a gross profit margin of 45.1%, up by 11.7 percentage points YoY. As of March 31, 2021, Yidu Tech had provided services and solutions to 76 research hospitals and 19 regulators and policy makers in China.

In the midst of the Pandemic last year, Yidu Tech stood at the forefront in the battle against the outbreak, assisting public health authorities in their efforts to prevent and control the spread of the virus. In particular, the Company received widespread recognition after successfully launching within seven days a pandemic response platform for the Wuhan Municipal Government at the peak of the Pandemic. Furthermore, the Company also developed a COVID-19 disease registry together with a renowned research hospital in Wuhan, and helped more than 50 doctors to conduct scientific and clinical research, and publish papers with the highest impact factor of over 30.

The Life Sciences Solutions segment recorded total revenue of RMB184 million, representing a YoY increase of 79.3%, and a gross profit margin of 21.7%, representing an increase of 8.3 percentage points. The segment experienced rapid growth in customers. As of 31 March 2021, the number of active customers increased by 45.9% YoY to 108, adding 25 new core pharmaceutical, biotech and medical device company customers. The Company also served 15 out of the top 20 global pharmaceutical companies by revenue in 2020.

In addition to expanding the customer base, Yidu Tech also took the efforts to actively enrich its solutions to enhance customer stickiness and expand the wallet share of its customers. During the Period, the overall revenue retention for Life Science Solutions customers was 124%, while the revenue retention for the core pharmaceutical, biotech and medical device company customers was 141%.

The Health Management Platform and Solutions segment recorded total revenue of RMB252 million, representing an increase of 353.1% YoY, and a gross margin of 40.7%. By leveraging the medical knowledge accumulated in YiduCore and AI technologies, Yidu Tech provides evidence-based one-stop health management solutions under the brand of “CausaHealth”. The Company also offers insurance technology and disease management solutions under the brand of “CausaCloud” to insurance companies and agencies. As of the end of the Period, the number of paying users who made at least one purchase on the Company’s health management platform exceeded five million.

On January 15, 2021, Yidu Tech was listed on the main board of the Hong Kong Stock Exchange, which marked a significant step of the Company towards more transparent and standardized corporate governance. Looking forward, Ms. Gong said, “Yidu Tech is still a very young company. We strongly believe in ‘data intelligence and green healthcare’ and will invest relentlessly in strengthening our core capabilities and developing our ecosystem ‘to make value-based precision healthcare accessible to everyone’.”

Artificial Intelligence

Cognitive Security Market Projected to Reach $134.26 billion by 2030 – Exclusive Report by 360iResearch

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PUNE, India, April 26, 2024 /PRNewswire/ — The report titled “Cognitive Security Market by Component (Services, Solutions), Security Type (Application, Cloud, Cybersecurity), Application, Deployment Mode, Enterprise Type, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $19.50 billion in 2023 to reach $134.26 billion by 2030, at a CAGR of 31.73% over the forecast period.

“The Global Rise of Cognitive Solutions Against Cyber Threats”
The field of cognitive security, leveraging the latest in artificial intelligence (AI), machine learning (ML), and data analytics, is reshaping the way physical and digital assets are protected from cyber threats. This innovative approach learns from user interactions with systems and data, enabling real-time threat detection and a more dynamic defense strategy. Across industries, including finance, healthcare, retail, and government, cognitive security applications, such as fraud detection and cyber defense, are becoming vital in navigating the complex threat landscape. Challenges in integrating with older systems and opportunities include advancements in AI and technology. Globally, the cognitive security market is witnessing rapid growth, driven by high American demand and significant investments in the Asia-Pacific region. In Europe, stringent regulations such as GDPR drive the demand for compliant solutions, while in the Middle East and Africa, the expanding telecom sector highlights the need for robust cybersecurity measures. This global momentum highlights the critical role of cognitive security in an interconnected world, ensuring businesses and governments can overcome cyber threats.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/cognitive-security
“The Essential Role of Cognitive Security in Today’s Digital Age”
As digital transformation reshapes industries, the surge in data generation and intricate data management challenges have outpaced traditional cyber defense mechanisms. Cognitive security adept at processing and analyzing vast arrays of data in real-time, uncovering patterns and anomalies indicative of cybersecurity threats. This advanced approach enables proactive threat detection and swift response measures, significantly mitigating the risks of data breaches and cyber incidents. Cognitive security solutions adeptly handle diverse data types at unparalleled speeds, offering insights typically elusive to manual analysis by harnessing the power of automation. These systems excel at unveiling sophisticated attacks, skillfully hidden within normal network activities, and continuously evolve through machine learning. This perceptual adaptation is vital in a landscape where cyber threats rapidly transform, and digitalization ushers in new vulnerabilities. Cognitive security is a staunch supporter for organizations, ensuring their security policies remain in lockstep with the ever-evolving cyber threat environment and regulatory demands, thus fortifying digital defenses in an increasingly connected world.
“Enhancing Digital Security through Advanced Cognitive Technologies”
In an era where cyber threats are constantly evolving, the importance of robust digital security mechanisms cannot be overstated. The approach encompasses a suite of essential services that ensure the effective operation and continuous improvement of cognitive security systems. These include the meticulous deployment and integration of these systems into existing organizational structures, ensuring they work seamlessly with current technologies and protocols. Ongoing support and maintenance to keep these systems at the forefront of cyber defense, alongside training and consulting to empower staff with the knowledge and skills needed to optimize these advanced security solutions. Cutting-edge technologies include biometric recognition, digital signature authentication, real-time security analytics, and a unified platform managing security logs and data. Each component is vital role in creating a secure digital environment that identifies threats and enables swift, informed responses to protect organizational assets and data.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/cognitive-security
“International Business Machines Corporation at the Forefront of Cognitive Security Market with a Strong 8.44% Market Share”
The key players in the Cognitive Security Market include Google LLC by Alphabet Inc., Microsoft Corporation, Fortinet, Inc., International Business Machines Corporation, Cisco Systems, Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Cognitive Security Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Cognitive Security Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Cognitive Security Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/cognitive-security
“Dive into the Cognitive Security Market Landscape: Explore 192 Pages of Insights, 760 Tables, and 28 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsCognitive Security Market, by ComponentCognitive Security Market, by Security TypeCognitive Security Market, by ApplicationCognitive Security Market, by Deployment ModeCognitive Security Market, by Enterprise TypeCognitive Security Market, by VerticalAmericas Cognitive Security MarketAsia-Pacific Cognitive Security MarketEurope, Middle East & Africa Cognitive Security MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/cognitive-security
Related Reports:
Cognitive Radio Market – Global Forecast 2024-2030Cognitive Electronic Warfare System Market – Global Forecast 2024-2030Cognitive Data Management Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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Artificial Intelligence

IBM, Government of Canada, Government of Quebec Sign Agreements to Strengthen Canada’s Semiconductor Industry

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Up to $187M CAD to be invested to progress expansion of chip packaging capacity and capabilities and to strengthen R&D at IBM Canada’s Bromont plant
BROMONT, QC, April 26, 2024 /PRNewswire/ — IBM (NYSE: IBM), the Government of Canada, and the Government of Quebec today announced agreements that will strengthen Canada’s semiconductor industry, and further develop the assembly, testing and packaging (ATP) capabilities for semiconductor modules to be used across a wide range of applications including telecommunications, high performance computing, automotive, aerospace & defence, computer networks, and generative AI, at IBM Canada’s plant in Bromont, Quebec. The agreements reflect a combined investment valued at approximately $187M CAD.

“Today’s announcement is a massive win for Canada and our dynamic tech sector. It will create high-paying jobs, invest in innovation, strengthen supply chains, and help make sure the most advanced technologies are Canadian-made. Semiconductors power the world, and we’re putting Canada at the forefront of that opportunity,” said the Right Honourable Justin Trudeau, Prime Minister of Canada
In addition to the advancement of packaging capabilities, IBM will be conducting R&D to develop methods for scalable manufacturing and other advanced assembly processes to support the packaging of different chip technologies, to further Canada’s role in the North American semiconductor supply chain and expand and anchor Canada’s capabilities in advanced packaging.
The agreements also allow for collaborations with small and medium-sized Canadian-based enterprises with the intent of fostering the development of a semiconductor ecosystem, now and into the future.
“IBM has long been a leader in semiconductor research and development, pioneering breakthroughs to meet tomorrow’s challenges. With the demand for compute surging in the age of AI, advanced packaging and chiplet technology is becoming critical for the acceleration of AI workloads,” said Darío Gil, IBM Senior Vice President and Director of Research. “As one of the largest chip assembly and testing facilities in North America, IBM’s Bromont facility will play a central role in this future. We are proud to be working with the governments of Canada and Quebec toward those goals and to build a stronger and more balanced semiconductor ecosystem in North America and beyond.”
IBM Canada’s Bromont plant is one of North America’s largest chip assembly and testing facilities, having operated in the region for 52 years. Today, the facility transforms advanced semiconductor components into state-of-the-art microelectronic solutions, playing a key role in IBM’s semiconductor R&D leadership alongside IBM’s facilities at the Albany NanoTech Complex and throughout New York’s Hudson Valley. These agreements will help to further establish a corridor of semiconductor innovation from New York to Bromont. 
“Advanced packaging is a crucial component of the semiconductor industry, and IBM Canada’s Bromont plant has led the world in this process for decades,” said Deb Pimentel, president of IBM Canada. “Building upon IBM’s 107-year legacy of technology innovation and R&D in Canada, the Canadian semiconductor industry will now become even stronger, allowing for robust supply chains and giving Canadians steady access to even more innovative technologies and products. This announcement represents just one more example of IBM’s leadership and commitment to the country’s technology and business landscape.”
Chip packaging, the process of connecting integrated circuits on a chip or circuit board, has become more complex as electronic devices have shrunk and the components of chips themselves get smaller and smaller. IBM announced the world’s first 2 nanometer chip technology in 2021 and, as the semiconductor industry moves towards new methods of chip construction, advances in packaging will grow in importance. 
“Semiconductors are part of our everyday life. They are in our phones, our cars, and our appliances. Through this investment, we are supporting Canadian innovators, creating good jobs, and solidifying Canada’s semiconductor industry to build a stronger economy. Canada is set to play a larger role in the global semiconductor industry thanks to projects like the one we are announcing today. Because, when we invest in semiconductor and quantum technologies, we invest in economic security.”  — The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
“This investment by IBM in Bromont will ensure that Quebec continues to stand out in the field of microelectronics. An increase in production capacity will solidify Quebec’s position in the strategic microelectronics sector in North America.” — The Honourable Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montreal region
About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in semiconductors, AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information. 
Media ContactLorraine BaldwinIBM [email protected] 
Willa HahnIBM [email protected]
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Artificial Intelligence

HITACHI ACQUIRES MA MICRO AUTOMATION OF GERMANY IN EFFORT TO ACCELERATE GLOBAL EXPANSION OF ROBOTIC SI BUSINESS IN THE MEDICAL AND OTHER FIELDS

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HOLLAND, Mich., April 26, 2024 /PRNewswire/ — Hitachi Ltd. (TSE: 6501, “Hitachi”) has signed a stock purchase agreement on April 26 to acquire all shares of MA micro automation GmbH (“MA micro automation”, headquartered in St. Leon-Rot, Germany) from MAX Management GmbH (a subsidiary of MAX Automation SE). MA micro automation is a leading provider of robotic and automation technology (robotic SI) including high-speed linear handling systems, high-precision assembly lines, and high-speed vision inspection technology for Europe, North America, and Southeast Asia, for EUR 71.5M million. The transaction is expected to close in the second half of 2024, pending completion of the customary regulatory filings. After the acquisition is completed, MA micro automation will join JR Automation Technologies, LLC (“JR Automation”), a market leader in providing advanced automation solutions and digital technologies in the robotic system integration business for North America, Europe, and Southeast Asia as a continued effort to expand the company’s global presence.

MA micro automation is a technology leader for automation solutions within micro-assembly. Through its state-of-the-art proprietary high-speed and high-precision automation know-how, combined with unique optical image inspection capabilities, MA micro automation serves high-growth med-tech automation end-markets, covering the production, assembly, and testing medical and optical components including contact lenses, IVD and diabetes diagnostics consumables, and injection molding for medical use. The company was established in 2003 through a carve-out from Siemens*1 and since 2013 has been part of the MAX Automation group. 
JR Automation is a leading provider of intelligent automated manufacturing technology solutions, serving customers across the globe in a variety of industries including automotive, life sciences, e-mobility, consumer and industrial products. With over 20 locations between North America, Europe, and Southeast Asia, the leading integrator offers nearly 2 million square feet (185,806 sq. m) of available build and engineering floorspace. This acquisition allows JR Automation to further grow and strengthen both the company’s geographical footprint and their continued commitment on expanding support capabilities within the European region and medical market vertical.
“MA micro automation provides engineering, build and support expertise with established capabilities in complex vision applications, high-speed and high-precision automation technologies. When integrated with JR Automation’s uniform global process and digital technologies, this partnership will further enhance our ability to deliver added value and support to all of our customers worldwide and continue to grow our capabilities in the medical market,” says Dave DeGraaf, CEO of JR Automation. “As we integrate this new dimension, impressive talents and abilities of the MA micro automation team we further enhance our ability to serve our customers, creating a more robust and globally balanced offering.”
With this acquisition, Hitachi aims to further enhance its ability to provide a “Total Seamless Solution*2” to connect manufacturer’s factory floors seamlessly and digitally with their front office data, allowing them to achieve total optimization and bringing Industry 4.0 to life. This “Total Seamless Solution” strategy links organizations’ operational activities such as engineering, supply chain, and purchasing to the plant floor and allows for real time, data-driven decision-making that improves the overall business value for customers.
Kazunobu Morita, Vice President and Executive Officer, CEO of Industrial Digital Business Unit, Hitachi, Ltd. says, “We are very pleased to welcome MA micro automation to the Hitachi Group. The team is based in Europe, providing robotic SI to global medical device manufacturing customers with its high technological capabilities and will join forces with JR Automation and Hitachi Automation to strengthen our global competitiveness. Hitachi aims to enhance its ability to provide value to customers and grow alongside them by leveraging its strengths in both OT, IT, including robotic SI, and “Total Seamless Solution” through Lumada*3’s customer co-creation framework.”
Joachim Hardt, CEO MA micro automation GmbH says, “Following the successful establishment and growth of MA micro automation within the attractive automation market for medical technology products, we are now opening a new chapter. Our partnership with Hitachi will not only strengthen our global competitive position, but we will also benefit from joint technological synergies and a global market presence.  We look forward to a synergistic partnership with Hitachi and JR Automation.”
Outline of MA micro automation    
Name
MA micro automation GmbH
Head Office
St. Leon-Rot, Germany
Representative
Joachim Hardt (CEO)
Outline of Business
Automation solutions within micro-assembly
Total no. of Employees:
Approx. 200 (As of April 2024)
Founded
2003
Revenues (2023)
€ 46.5 million
Website

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*1
“Siemens” is a registered trademark or trademark of Siemens Trademark GmbH & Co. KG in the U.S. and other countries.
*2
“Total Seamless Solution” is a registered trademark of Hitachi, Ltd. in the U.S. and Japan.
*3
Lumada: A collective term for solutions, services and technologies based on Hitachi’s advanced digital technologies for creating value from customers’ data accelerating digital innovation. https://www.hitachi.com/products/it/lumada/global/en/index.html
About JR AutomationEstablished in 1980, JR Automation is a leading provider of intelligent automated manufacturing technology solutions that solve customers’ key operational and productivity challenges. JR Automation serves customers across the globe in a variety of industries, including automotive, life sciences, aerospace, and more.  
In 2019, JR Automation was acquired by Hitachi, Ltd. In a strategic effort towards offering a seamless connection between the physical and cyber space for industrial manufacturers and distributers worldwide. With this partnership, JR Automation provides customers a unique, single-source solution for complete integration of their physical assets and data information, offering greater speed, flexibility, and efficiencies towards achieving their Industry 4.0 visions. JR Automation employs over 2,000 people at 21 manufacturing facilities in North America, Europe, and Asia.  For more information, please visit www.jrautomation.com.   
About Hitachi, Ltd.Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the 3 business sectors of “Digital Systems & Services” – supporting our customers’ digital transformation; “Green Energy & Mobility” – contributing to a decarbonized society through energy and railway systems, and “Connective Industries” – connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company’s revenues as 3 sectors for fiscal year 2023 (ended March 31, 2024) totaled 8,564.3 billion yen, with 573 consolidated subsidiaries and approximately 270,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.
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