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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 Tianjin, Beijing 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.

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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May 10, 2024

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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