ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED 阿里健康信息技術有限公司 00241 1,878.7 529.1 111.2% 107.1% 1 10.5 134.4 302.3 (AI) 1
1,601.1 100.2%12 12 1,800 (GMV)250 50%12 1 100 6,500 2,000 AI ET2.0 AIAI 1 2
% 1,878,709 889,731 111.2 1,601,072 799,865 100.2 225,170 67,299 234.6 29,557 13,130 125.1 18,922 9,437 100.5 3,988 529,144 255,488 107.1 28.2% 28.7% (89,980) (92,178) (2.4) 100,466 57,736 74.0 10,486 (34,442) 3
2 1,878,709 889,731 (1,349,565) (634,243) 529,144 255,488 3 (246,041) (146,850) (156,848) (86,471) (85,985) (57,313) (103,679) (61,377) 4 17,995 17,244 (20,563) (2,199) 5 (4,607) (5,134) 6 8,055 3,017 7 (16,269) 7,976) 8 (78,798) (91,571) 9 (11,182) (607) (89,980) (92,178) (84,104) (90,911) (5,876) (1,267) (89,980) (92,178) 11 (0.80) (1.07) 4
(89,980) (92,178) 89,293 (20,861) 89,293 (20,861) (687) (113,039) 5,189 (111,772) (5,876) (1,267) (687) (113,039) 5
6,605 6,274 19,123 19,123 84,148 62,593 1,859,571 950,973 56,970 55,921 498,043 2,524,460 1,094,884 364,484 442,231 12 190,958 91,373 100,364 78,924 971,194 4,100 8,572 2,268 1,319,081 1,397,197 2,954,653 2,016,093 1,249,380 8,589 13 529,183 323,310 908,675 137,629 716 121,824 111,160 17,849 7,423 2,835,500 580,238 119,153 1,435,855 2,643,613 2,530,739 6
8,672 7,682 8,672 7,682 2,634,941 2,523,057 102,610 86,617 (5,609) (5,474) 2,601,005 2,499,105 2,698,006 2,580,248 (63,065) (57,191) 2,634,941 2,523,057 7
1 1.1 34 8
1.2 15 9 34 15 9 2 22 128 15 15 11 18 15 15 9
15 2 15 (716) 716 9 9 39 9 9 9 9 9 10
2 1,601,072 799,865 225,170 67,299 29,557 13,130 18,922 9,437 3,988 1,878,709 889,731 1,549,799 328,910 1,878,709 1,620,348 258,361 1,878,709 11
3 B2C 4 17,795 6,004 8 1 10,980 192 259 17,995 17,244 5 6 49% 7 12
8 * 1,244,323 610,683 * 94,923 18,815 3,050 1,985 6,927 6,107 # 1,906 500 * 2,393 # 354 57 145,150 89,395 10,623 6,710 100,466 57,736 256,239 153,841 17,886 (10,980) # * 9 17,075 (6,883) 222 990 385 11,182 607 13
25% 15% 10 11 10,448,498,2628,487,287,000 12 3 187,477 86,531 3 12 3,130 4,842 1 2 351 190,958 91,373 14
13 3 408,107 274,628 3 12 106,649 45,438 12 14,427 3,244 529,183 323,310 30 90 15
(GDP)6.7% 4,000 60 2.417.3% 2.6 80% + + + 16
10 17
(Merck Sharp & Dohme )(SANOFI) (GlaxoSmithKline)(AstraZeneca) (Merck) 30 100.2% SKU 60,000 6 1,000 50%12 1,800 1.3 1.0 18
15% 30 1 2430 O2O 19
7*24 Double H (GMV)250 50% GMV 70% 121 (www.tmall.hk) 20
80% 95% 21
24,000 14,000 30 300 700 UC 1,000 22
6,500 2,000 100 23
ET 2.0 ET ET AI2018 10 AI 20 AI AI 12 AI AI AIAI ET2.0 AI 24
AI AI 2018 8(CCKS 2018) AI ET2.0 ET 2.0 (Allergan)(Merck Sharp & Dohme)(Invisalign) (GlaxoSmithKline) O2O 25
GMV 100% 26
% 1,878,709 889,731 111.2 529,144 255,488 107.1 28.2% 28.7% (246,041) (146,850) 67.5 (156,848) (86,471) 81.4 (85,985) (57,313) 50.0 (103,679) (61,377) 68.9 17,995 17,244 4.4 (20,563) (2,199) 835.1 (4,607) (5,134) (10.3) (70,584) (86,612) (18.5) 8,055 3,017 167.0 (16,269) (7,976) 104.0 (89,980) (92,178) (2.4) (84,104) (90,911) (7.5) 10,486 (34,442) 1,878,709,000 889,731,000 988,978,000 111.2% B2CB2B 1,601,072,000 100.2% 27
30 O2O O2O 225,170,000 234.6% 29,557,000 125.1% 28
80% 18,922,000 100.5% 3,988,000 529,144,000 255,488,000 273,656,000107.1% 28.2% 28.7% 246,041,000 146,850,000 99,191,000 67.5% B2C 156,848,000 86,471,000 70,377,000 81.4% 29
85,985,000 57,313,000 28,672,000 50.0% 103,679,000 61,377,000 42,302,000 68.9% 17,995,000 17,244,000 751,000 4.4% 4,607,000 5,134,000 527,000 10.3% 20,563,000 2,199,000 18,364,000 835.1% 17,886,000 30
49% 40% 45% 8,055,0003,017,000 5,038,000 167.0% 49% 16,269,000 7,976,000 8,293,000 104.0% 89,980,000 92,178,000 2,198,000 2.4% 10,486,000 34,442,000 44,928,000 31
(89,980) (92,178) 100,466 57,736 10,486 (34,442) 32
1,319,081 1,397,197 971,194 2,290,275 1,397,197 1,397,197,000 78,116,000 5.6%1,319,081,000 302,333 (116,805) (806,116) (320,416) 1,259,608 (12,952) 755,825 (450,173) * 508,419 569,860 54,837 (10,337) 1,319,081 109,350 33
* 888,778,000 302,333,000 78,798,000 (1) 100,466,00017,595,000 (2) 205,873,00075,000,000 61,653,000 99,585,000 28,423,000 806,116,000 969,000,000 454,400,000 254,626,000 888,778,000 1,259,608,0001,249,380,000 1,249,380,000 34
688 484 256.2153.8 Ali JK Nutritional Products Holding Limited Ali JK Medical Products Limited 35
10,600,000,000 1,827,586,207 40,000,000 15,000,000 45,000,000 100,000,000 45% 40% 15% 454,400,000 34,080,000420,320,000 9.34% 65,988,360 49% 36
14.54%421,758,850 404,321,529 25% A.6.7 37
1,684,900 (www.hkex.com.hk) (www.irasia.com/ listco/hk/alihealth) (i) (ii) (iii) 38