Specialist
Former Director at Hangzhou Qiushi Tongchuang Network Technology Co Ltd (Weimai)
Agenda
- Weimai’s business segments and indicators
- Comparison between Weimai’s family doctor and internet hospital businesses and Ping An Good Doctor (HKG: 1833), WeDoctor, Ding Xiang Yuan and Hao Dai Fu, plus Weimai’s competitiveness
- Weimai’s new retail business segment Ximai Mall, its expansion model, revenue and monetisation
- Prospect of internet localisation healthcare services
Questions
1.
Can you brief us first on the competitive echelons in China’s internet hospital market? After years of development, major players in the sector include Ping An Good Doctor, WeDoctor, Alibaba Health and Hao Dai Fu. What do you think are their focuses respectively? How did the competitive landscape change over the past two years? Leading players are developed in the market segments respectively and take up the majority of share. What do you think Weimai’s market positioning is?
2.
You mentioned that many internet hospital players tend to adopt similar business models. Qiu Jialin, CEO of Weimai, positioned the company as a local trustworthy patient and doctor service platform. He also mentioned that Weimai equals to a combination of WeDoctor, Hao Dai Fu and Alipay in third- and fourth-tier cities. Which services did Mr Qiu refer to? What about Weimai’s performance accordingly?
3.
Alipay and WeChat Pay are popular payment tools. Regarding medical expense settlement or balance in the medical cards issued by Weimai, does Weimai develop a private payment system or cooperates with third parties? Is the charging of its medical cards regulated by certain policies?
4.
Weimai positions it as a local healthcare service platform in third- and fourth-tier cities. How does Weimai interpret local healthcare services?
5.
National regulatory authorities such as the National Health Commission require internet hospital players to operate on the basis of physical hospitals. Internet hospital players such as Ping An Good Doctor tend to build physical hospitals in-house. On the contrary, Weimai prefers to cooperate in depth with public hospitals. Why does Weimai adopt a different model?
6.
How do Weimai and hospitals share revenue during cooperation, from online services in particular? Regarding the VIP outpatient service packages, how do Weimai and hospitals share the revenue?
7.
Some internet hospital platforms mainly target chronic diseases or special diseases. What about main services offered by Weimai online and their corresponding revenues?
8.
In fact, Weimai is unique because it makes use of physical hospital resources. Can you elaborate on how Weimai cooperates with various medical institutions such as public hospitals, private hospitals or other local healthcare service suppliers? How do Weimai’s teams, the marketing team in particular, operate to cooperate with target hospitals successfully?
9.
Weimai has expanded its businesses to malls. What is your comment on the performance of Weimai’s mall businesses in the industry? Compared with the major players such as Ping An Good Doctor and WeDoctor in the industry, what are Weimai’s characteristics of its business scope, business model and operating indicators?
10.
Can you tell us about Weimai’s new business segments in recent years, such as Ximai Mall? Is Ximai Mall a new retail business segment or a closed-loop business segment which integrates online and offline businesses?
11.
Without regard to Ping An Good Doctor, many online healthcare platforms such as Alibaba Health have tried the internet hospital model, but turned to the mall business eventually. Ping An Good Doctor’s business segment of malls is growing fast. As you mentioned, the revenue and gross margin of Weimai’s online mall businesses are not so satisfying. Is Ximai Mall a way of monetisation?
12.
Maternity and child care is a little different from traditional healthcare because the former focuses more on consumer products. Can you tell us about Weimai’s investment in the team of Ximai Mall? Has Weimai recruited talent from the FMCG industry?
13.
What is your view on Weimai’s competitiveness and development potential in the internet healthcare industry in the future?
14.
Is there anything we haven’t covered in our discussion today? Or is there anything more you’d like to share with us?
15.
Do you mean that Weimai may focus on the selling of drugs, especially prescription drugs in the future, and it is building related teams?
16.
Ping An Good Doctor is also promoting the membership system, and it seems the revenue is satisfying. Is it right?
