A：Once technology has shown strong resilience in overall business performance after its latest achievements, especially as its layout in the AI field has entered the market expansion phase, AI vertical large models and Huawei's integrated machine business will bring significant profits to the company. According to the company's second fiscal year report, the monetary assets have reached 3.4 billion RMB, close to the market value's PP, which is currently in a very cheap state. In addition, the company's AI vertical large models have achieved excellent results in technical evaluations, and its cooperation with Huawei has deepened the application in the medical field. According to publicly available tender information, once technology's research business market share rate leads the industry, its research platform products can shorten the traditional research cycle to 2-6 months, with the large model acceleration product able to further increase the speed by around 50%. The radical v business targeting pharmaceutical companies has become a flagship brand in the industry, with a total of 321 clinical trial projects and 246 real-world research projects conducted as of March 31. The market share of the Huiminbao business exceeds 30%, serving as the main operating platform for Beijing Puhui Health Insurance and Jiangsu Yihui Health Insurance Number One for three consecutive years. The number of active users completing transactions on the health management platform has increased to nearly 27.6 million.

A：In the fiscal year 2024 (until March 31), Yidu Technology continued to focus on the strategic implementation of its existing business, achieving internal efficiency and profit improvement with growth in both gross profit and profitability. The company strategically invested in its self-developed medical vertical large language model, which yielded significant results. After adjusting the existing business management caliber, EBITDA turned from a loss of RMB 31.1 million in the same period last year to a profit of RMB 311 million. Overall gross profit margin increased by 8 percentage points to 42.1%, and operating cash outflow narrowed by 50.4% year-on-year, demonstrating that the company has moved beyond the burning money stage and towards a stable operating model. In May 2024, Yidu Technology's large model ranked first in the authoritative evaluation platform "mash evaluation" launched by the Shanghai AI Laboratory and the Shanghai Digital Medical Innovation Center in key dimensions such as medical knowledge Q&A, medical language understanding, medical safety, and ethics. As China's first overseas and domestically high-end chip fully compatible medical vertical large model, it has deep cooperation with Huawei and has become one of the first AI medical enterprises to adopt native development. By autonomously learning the thinking patterns and decision logic of doctors' brains, it demonstrates outstanding performance in disease understanding depth and problem-solving capabilities, providing deeper and more rational medical advice compared to GPT.

A：In the past year, Yidu Technology has continuously upgraded and iterated its AI medical brain core, enhancing its processing efficiency, understanding and reasoning capabilities, as well as precise adaptation to complex application scenarios. In the authoritative evaluation platform Manh evaluation in May 2024, Yidu Technology's large model ranked first in comprehensive score, medical knowledge question answering, medical language understanding, medical safety, and ethics, proving that Yidu Technology is not only advanced in theory, but also has efficient and reliable effects in practical applications.

A：The constantly expanding customer base of Yidukul, driven by the advancement of technology, has promoted the application of multiple scenarios. The integration and iteration of scenarios and algorithms further enhance the depth of disease insights of Yidukul, attracting hospital experts and pharmaceutical researchers to join. The ecological expert network, disease research network, and regional network have expanded, with over 2500 hospitals covered in the hospital network, 102 top hospital clients, and an increase in the number of clients from regulatory agencies and policy makers to 43. The number of customers in the life science solutions sector has also increased.

A：As of March 31, 2024, Yidu Technology has accumulated over 5 billion full life cycle case data from more than 1 billion patients, and has added over 100 million new patient coverage and 1 billion high-quality case data analysis records. These data cover the entire process from diagnosis to treatment, and have developed a multidimensional, quantifiable disease knowledge graph based on the past decade's precipitation to enhance the efficiency and quality of data application. As of March 31, 2024, Yidu Technology's medical knowledge graph covers more than 100,000 medical entities, basically covering all known diseases. Disease models have been established in over 80 disease fields, especially in the fields of solid tumors, hematological diseases, ophthalmology, immunology, and cardiovascular diseases, accumulating rich algorithms and knowledge insights, attracting numerous hospital experts and pharmaceutical researchers to join the network.

A：The intelligent insurance algorithm has been implemented in four provinces and twelve cities, participating in the operation of Beijing Universal Health Insurance and Jiangsu Medical Benefits Insurance No. 1, serving as the main operating platform for three consecutive years. The number of insured individuals has reached a historic high, with average growth rates of 20% and 30% over the past two years. Meanwhile, although the revenue from the health management platform and solution business has declined due to adjustments in product portfolio structure, overall revenue quality and operational efficiency have improved.

A：In the fiscal year 2024, the group's total revenue was 807 million yuan, with a year-on-year growth of 41.1% for the big data platform and solutions, and 28.1% for life science solutions. The overall gross profit margin was 42.1%, an increase of 8.0 percentage points year-on-year, and all sectors saw positive improvement in gross profit margin. Despite a decrease in revenue for the health management platform and solutions, through continuous optimization of profit quality and operational efficiency, the group managed to narrow losses and achieve a profit for the first time.

A：In the 2024 fiscal year, the total operating expenses as a percentage of revenue decreased by 29.2 percentage points, and the proportion of adjusted sales, administrative, and research and development expenses to revenue also saw significant decreases. On the asset and liability side, as of March 31, 2024, the company's financial condition is healthy, with net assets of 4.09 billion yuan and stable and sufficient reserves. The net cash outflow from operating activities narrowed by 50.4% year-on-year, reflecting a further improvement in operating capability.

A：In the fiscal year 2024, all three major business segments performed well. The market share of the research business (including big data platforms and solutions) is industry-leading, with significant growth in the number of top hospitals and regulatory agency clients; the life science solutions business serves 122 customers, with a significant increase in the revenue retention rate and average unit price of the top ten customers; the active user base of the health management platform and solutions business has grown to nearly 27.6 million, with the diabetes digital therapy solution pilot program successfully implemented and achieving significant results; international business accounts for 14% of total revenue, covering multiple regions such as China, the United States, and Singapore, with over 500 global partners.

A：Our company has the highest market share in the field of clinical research business for hospitals, and we have assisted top PI researchers in publishing over 240 high-level papers with a total impact factor exceeding 1300. We have participated in over 20 important medical research projects at the national and provincial levels in more than 20 countries, including national key research and development programs, and projects funded by the National Natural Science Foundation. In this fiscal year, our clinical research business ranks first in terms of both project quantity and amount, far surpassing our competitors.

A：The revenue of the Life Sciences Solutions segment was 324 million yuan, a year-on-year increase of 28.1%, with a gross profit margin of 32.1%, a year-on-year increase of 14.6 percentage points. This segment provides analysis-driven clinical development and digital evidence-based marketing solutions throughout the entire lifecycle from clinical development to post-market marketing for drugs and equipment, with customers mainly being pharmaceutical companies, medical device companies, and innovative drug companies. During this reporting period, we conducted 321 clinical research projects, including intelligent SMO services, covering 347 clinical trial hospitals and institutions.

A：In the health management platform and solutions sector, our one-stop health management solutions include chronic disease management services, commercial health insurance, and urban universal insurance. During the reporting period, the sector's revenue was 169 million RMB, although it decreased year-on-year, the gross profit margin improved to 58.1%, an increase of 17.4 percentage points year-on-year. We continue to increase the market penetration rate of the urban universal insurance business at the channel end, having won bids and provided services in four provinces 12 times. As the main operating platform of Shenzhen urban universal insurance, we have underwritten over 6 million policies, with an insured rate exceeding 35%, ranking among the top in terms of the number of insured and insured rates in the national urban universal insurance projects.

A：We insist on empowering insurance business with AI medical technology, using our accumulated data processing capabilities and medical insights to construct disease labels and data models through AI technology, thereby improving medical actuarial models, intelligent risk control models, and disease prediction models. This helps strengthen the analysis of disease populations and risk assessment, customized product development, and provides precise hierarchical health interventions and intelligent customer service, intelligent underwriting, and quick claims services for large-scale populations, thereby achieving faster and more accurate underwriting, and assisting in speeding up the claims process.

A：At last year's annual shareholders' meeting, the company obtained the authorization to repurchase up to 10% of its shares. In the past few months, the company has been opportunistically repurchasing stocks because we are confident in the company's development. There have been no repurchases in the last two months mainly due to the impact of listing rules, which prohibit the company from repurchasing during certain periods. In the future, we will continue to repurchase at the appropriate time to safeguard long-term value for our investors.

A：After the epidemic, the fields of medical informatization and intelligence faced challenges in 22 due to macro environment impacts, with orders and delivery capabilities facing significant challenges. There was some recovery in 23, but hospitals were affected by anti-corruption policies, leading to slower project approvals. In 24, policy requirements have intensified, leading to steady industry recovery. For the company's EDPS sector, there is a stable and progressive recovery trend, and the outlook remains optimistic, with expected robust growth. This is mainly attributed to the country's promotion of digital economy, the application and penetration of artificial intelligence and large models in the medical field, and the emphasis on high-quality development in the medical sector.

A：The company focuses on the long-term demand in the pharmaceutical industry that has not been fully met, especially the great opportunity for the clinical translation of new life science technologies. Faced with the wait-and-see investment phenomenon in the primary market caused by secondary market mechanism issues, the company is committed to using data analysis and insights to improve the research and development efficiency and accuracy of BioTech Company, helping them to complete research and development work more accurately and effectively, reduce cost budgets, and meet urgent needs in the current environment. The company's life science sector continues to use precision research data to support clinical development plans and protocol development, accelerate patient recruitment, and empower the entire clinical trial process, thereby achieving sustained growth in the sector.

A：We have established a specialized disease data platform for leading research hospitals in the country, and have collaborated with numerous research partners. Through our years of experience in life science services and the capabilities of our professional team, we effectively unlock the potential value. Especially during difficult times in the industry, we are able to provide clients with solutions tailored to their specific pain points, maintaining steady growth while seeking progress.

A：Currently, 16 of the top 20 large multinational pharmaceutical companies in the world are our partners. We have been involved in early-phase and market authenticity studies of some of their blockbuster products, and have had in-depth communication with multiple pharmaceutical companies to provide professional services in areas such as indication expansion, regulatory projects, and academic evidence generation for their upcoming or already launched blockbuster products in China.

A：We actively analyze the product layout of international pharmaceutical companies, predict their future indications expansion, regulatory project requirements, and academic evidence generation in the coming years, and engage in in-depth communication and collaboration with cooperative pharmaceutical companies to help them achieve more efficient output using digital technology and infrastructure. We will continue to focus on this area and provide more precise services.

A：We are migrating from the data center to the AI center, expanding the original data governance focused on search analysis technology to governance models focused on large model training and applications, forming mutual driving and closed-loop development between the data center, AI center, and intelligent open service data center. With different customers using products of varying densities at different stages, an overall flywheel effect will be formed, accelerating the upgrade and development of data algorithms to applications, thereby helping medical regulatory agencies and core hospitals make progress in intelligent construction and research, and improving the pre-diagnosis and post-diagnosis services and regional residents' service capabilities.

A：We are confident in the alignment and mutual promotion of the technological connotation, industry requirements, and industry development pace of medical intelligence development, believing that we can create products that are liked by doctors, recognized by the government, and urgently needed by the industry. This will become the core law and main theme of the company's medical intelligence development.