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Yidu Tech Announces Results for the First Half of FY2023: Adjusted Net Loss Narrowed down 30.3% YoY, Strategic Focus Enhanced Business Resilience

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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 leading corporate in China’s healthcare intelligence industry, announced the interim results for the six months ended 30 September 2022 (“the first half of FY2023” or “the Reporting Period”).

Despite the challenging and uncertain external environment, the Group remained committed to improving profitability with a strategic focus. The Group continues to focus on applying digital and intelligent applications to multiple use-case scenarios, concentrating on key disease research areas such as solid tumors, hematology, ophthalmology and immunology to further strengthen its core competence, improve customer experience and increase customers’ average transaction value. During the Reporting Period, the Group reported a total revenue of RMB474.4 million and adjusted net loss narrowed to RMB224.8 million, a decrease of 30.3% year-on-year. Total operating expense as a percentage of revenue decreased by 32.1 percentage points.

Ms. Gong Yingying (Rujing), Chairlady and Founder, Executive Director and Chief Executive Officer of Yidu Tech, stated, “The Group has taken proactive and effective measures to enhance operational efficiency and has successfully narrowed its loss and adjusted net loss significantly during the Reporting Period, which is a testament to the effectiveness of our business development strategy. We expect a continued improvement in operation efficiency going forward, and we will continue to make progress toward achieving profitability. Yidu Tech will adhere to its original vision of ‘green healthcare’, continue to enhance its core technology capabilities, and deepen its efforts in the three scenario categories of research, diagnosis and treatment, and public health, in order to create more value in the healthcare intelligence industry.”

Deep cultivation of three major scenarios with strategic focus on aiding commercialization

During the Reporting Period, Yidu Tech proactively enhanced its profitability with a strategic focus on four major areas: business, customers, diseases and organization.

In terms of business, Yidu Tech continues to focus on scenarios in three major categories, namely research, diagnosis and treatment, and public health. The Company promotes multi-scenario applications based on the three categories, achieving scenario-driven optimization of intelligence. Driven by innovation, the Group continuously upgrades its portfolio of high-quality professional products and services to meet the diverse demands of its core customers.

In terms of customers, Yidu Tech focuses on serving core hospitals and core pharmaceutical companies with high revenue retention. In the Big Data Platform and Solutions (“BDPS”) segment, the Company upgraded and launched the All Disease Data Platform, which facilitates the DIY creation of disease registries by hospitals. In addition, in the Life Science Solutions (“LSS”) segment, the revenue retention rate for the top 10 clients reached 119%.

In terms of diseases, during the Reporting Period, the Group concentrated on key disease research areas including solid tumors, hematology, ophthalmology and immunology. Regarding organization, based on the intelligent “medical brain” YiduCore and the overlapping applications of its core capabilities, Yidu Tech continued to enhance the synergy among the three business segments and to increase customer awareness. Meanwhile, the Group continuously improved the business penetration and internal operating efficiency, and continued to reduce the ratio of total operating expense to revenue during the Reporting Period, which was brought down by 32.1 percentage points year-on-year.

Continuous Technological Innovation to Drive the Development of the Healthcare Intelligence Ecosystem

Guided by the national strategy of high-quality development driven by innovation, the “14th Five-Year Plan” and the “Healthy China 2030” policy, China has put in place series of policies to encourage scenario-driven proprietary innovation. As a leading corporate in the healthcare intelligence industry, Yidu Tech has continuously improved its capabilities in independent R&D and innovation, focusing on solving the pain points faced by the healthcare industry as it undergoes an intelligent transformation.

Over the years, Yidu Tech has independently developed YiduCore which consists of algorithms and insightful medical knowledge that are continuously accumulated and constantly iterated as the Group expands its use-case scenarios with proper authorization. In the first half of FY2023, Yidu Tech continued to invest resources in cooperation with renowned hospitals and experts, to continue empowering its ability to build and enrich a disease labelling system that encompasses various fields of diseases. As of 30 September 2022, YiduCore’s medical knowledge graph covers over 80,000 medical objects, of which the number of diseases covered by the disease knowledge graph has exceeded 10,000, an increase of over 1,000 compared to six months earlier.

With YiduCore’s strong data processing capabilities and AI algorithms, as well as its accumulated medical knowledge, insights and disease models, Yidu Tech has undertaken a total of 19 scientific research projects with its partners, including renowned hospitals, regulators and universities, of which 8 are national-level research projects sponsored by the Ministry of Science and Technology of China and other national ministries. As of 30 September 2022, the effectiveness and accuracy of its pandemic response and prediction algorithms have been validated in 22 cities.

In terms of privacy protection, the Company participated in the preparation of the Research Report on the Application of Privacy Computing (2022) issued by the Institute of Cloud Computing and Big Data of the China Academy of Information and Communication Technology (CAICT). In addition, by virtue of its outstanding remote operation and maintenance technology, Yidu Tech obtained the Certificate of Remote Operation and Maintenance Safety Capability Inspection issued by the Internet Health Care Industry Alliance and CAICT.

Balanced development of three business segments, demonstrating strong business resilience

During the Reporting Period, the revenue of all three business segments maintained a balanced development, demonstrating strong business resilience.

The Big Data Platform and Solutions segment generated revenues of RMB 124.0 million during the Period. One aspect of this segment is Yidu Tech’s provision of AI-based intelligence platforms and data analytics-driven solutions to regulators and policy makers. During the Reporting Period, the Group led a consortium and won the contract for the Infectious Disease Intelligent Multi-point Surveillance Early Warning Platform for Beijing. With AI-empowered analytical tools and top-notch simulation models, the Group has expanded its solution offerings from public health to population health. During the Reporting Period, the Group won the construction of regional healthcare profiling for local residents in Chaoyang District, Beijing.

The other aspect of this segment is the Group’s continued effort to deepen its insight into diseases. In the field of hematology, the Group has partnered with two of China’s only three hematologic diseases National Clinical Research Center (NCRC) hospitals in developing a hematologic disease research network to conduct efficient clinical trials and multi-institutional real-world studies. Meanwhile, the Group has assisted its clients to develop a number of disease registries and large clinical research cohorts for major hematological diseases, including leukemia, coagulation disorders and aplastic anemia. With the successful precedented cases in hematology, the Group made breakthroughs in the field of dermatology by winning the contract with Institute of Dermatology, Chinese Academy of Medical Sciences, one of China’s top two hospitals in the field of dermatology, to build a disease research platform.

The Life Science Solutions segment achieved revenue of RMB 146.5 million during the Reporting Period. With accumulated credentials in focused disease research areas, as of 30 September 2022, Yidu Tech has performed 232 clinical research trials, including clinical trials sponsored by pharmaceutical companies and investigator-initiated trials (IIT). The Group has performed 185 prospective and retrospective real-world studies. Its Intelligent Site Management Organization (iSMO) services have covered 163 sites, more than doubling the number from last year. It is worth noting that, during the Reporting Period, the Group conducted a comprehensive retrospective real-world study which related to the evaluation of the efficacy, safety and treatment modalities of a new drug for patients with complex abdominal infections in ICU for a top 20 multi-national pharmaceutical companies (MNC) client to assist it to obtain the approval from the Center for Drug Evaluation, National Medical Products Administration (CDE).

The growing track records has enabled the Group to continuously develop the LSS segment and maintain its high-quality customer base. As of 30 September 2022, there were 143 active clients. Among its top 20 clients, there were 7 MNC and 16 listed companies.

The revenue of the Group’s Health Management Platform and Solutions segment amounted to RMB 203.8 million. Leveraging medical insights powered by YiduCore and AI empowerment, Yidu Tech facilitated its customers’ ability to design and develop innovative insurance products, enabling faster and more accurate insurance underwriting and expediting claim processing. During the Reporting Period, the Group continued to increase the market penetration of the Hui Min Bao business, serving 3 provinces and 10 cities. Yidu Tech has assisted three of the four municipalities directly under the central government in China to launch Hui Min Bao products, including TianjinBeijing and Chongqing. As of 30 September 2022, the number of active users who have completed at least one transaction on Yidu Tech’s health management platform reached 15 million.

Furthermore, the Group’s advanced intelligence technologies greatly improve the operating efficiency of Hui Min Bao. As the main operating platform for Jiangsu Hui Min Bao, the Group underwrote more than 3 million Jiangsu Hui Min Bao policies and approximately 76% of total claim amounts were completed by the Group’s intelligent claim settlement services. Compared with traditional methods, the Group’s intelligent claim settlement services tripled the productivity of processing claims, reducing the financial burden of the insured and further encouraging participation.

As the market leader with the largest market share in the healthcare intelligence market, the medical institutions and regulatory agencies healthcare intelligence market as well as the emerging healthcare intelligence market in China, Yidu Tech is committed to contributing to the intelligent transformation and upgrading of the healthcare industry, as well as the high-quality development of the healthcare industry. In the future, Yidu Tech will continue to adhere to its two-pronged strategy, expand its infrastructure network, deepen its research into diseases, maintain its strategic focus on business, customers, diseases and organization, and contribute to creating the healthcare intelligence ecosystem, upholding its mission to make value-based precision healthcare accessible to everyone and create more value for healthcare industry participants.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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