According to the latest prospectus, in 2019, 2020 and 2021, Dingdang Health's revenue was 1.276 billion yuan, 2.229 billion yuan and 3.679 billion yuan respectively, and the adjusted net loss (non-IFRS measured) was 123 million yuan, 149 million yuan and 330 million yuan, respectively.
From 2019 to 2021, Dingdang Health's R&D expenses were 0.52 billion yuan, 0.82 billion yuan and 0.96 billion yuan, respectively, maintaining steady growth.
According to the prospectus, Dingdang Health's main businesses include fast medicine, online diagnosis and treatment, chronic diseases and health management. In terms of fast medicine, the company can deliver products 7x24 hours and 28 minutes in the areas covered by the delivery service, including over-the-counter and prescription drugs, and medical and health products. The company's service channels include APP, WeChat Mini Program, third-party online platform, distributor and offline smart pharmacy. At present, the distribution network is mainly composed of hundreds of smart pharmacies in more than a dozen cities.
According to the Frost & Sullivan Report, Dingdang Health is already the largest provider of products and services in China's real-time home digital pharmacy industry in terms of revenue in 2020.
In terms of scale, in 2019, 2020 and 2021, a total of 26.4 million, 40.5 million and 60.3 million sales orders were recorded in the supply of Dingdang Health Fast Medicine service through the online direct sales channel and offline channel of Dingdang Health, respectively. During the same period, Dingdang Health Online Diagnosis and Treatment Services recorded a total of 2.2 million, 4.4 million and 6.8 million online consultations respectively, bringing sales orders (including over-the-counter drugs, prescription drugs and health products) to Dingdang Health Fast Medicine business with sales orders of RMB27.6 million, RMB75.6 million and RMB332 million respectively, and Dingdang Health Chronic Diseases and Health Management Services brought sales orders for Dingdang Health Fast Medicine business (such as sales of drugs for chronic diseases such as liver disease, skin disease, cardiovascular disease and diabetes). Revenue was $216 million, $515 million and $847 million, respectively.
It is not difficult to see that whether it is the number of customer orders or the final sales amount, Dingdang Health has achieved substantial growth in the past three years and showed excellent development momentum.
With the change of consumption habits brought about by the new crown epidemic, the habit of buying drugs online has begun to be adopted by more and more consumers, and the segment of healthy home has also ushered in leapfrog development opportunities. According to the Frost & Sullivan report, China's real-time home digital pharmacy industry is expected to continue to increase from 15.7 billion yuan in 2020 to 138 billion yuan in 2030, with a compound annual growth rate of 24.3%.
At present, Dingdang Health has built a comprehensive and professional one-stop health home platform to achieve user-centric products and services covering full-cycle health management. As of December 31, 2021, Dingdang Health has thousands of riders on the distribution side, and is divided into its own smart pharmacy and third-party partner pharmacy at the pharmacy end, and the cooperative pharmaceutical companies include GlaxoSmithKline Consumer Healthcare, Renhe Pharmaceutical, Bayer Consumer Health, China Resources Pharmaceutical, Jointown and many other well-known pharmaceutical companies. In terms of online medical treatment, Dingdang Health has nearly a thousand doctors and hundreds of pharmacists to provide users with 7 * 24 hours of online consultation and medication guidance services. On the sales side, in 2021, the total sales orders of Dingdang Health exceeded 60 million, an increase of 49% year-on-year, and the total number of consultations exceeded 6 million pieces, an increase of 54.54% year-on-year.
In its core business, Fast Medicine, Dingdang Health has established an omni-channel network for Fast Medicine services, including its own online platforms such as mobile apps and WeChat Mini Programs, third-party online platforms, distributors and offline purchases directly in smart pharmacies. Delivered by its network of hundreds of smart pharmacies in more than a dozen cities, delivering products 24/7 and 28 minutes in core areas.
In addition, after the outbreak of the new crown epidemic, Dingdang Health also actively responded to the national call to help prevent the epidemic.
Among them, Dingdang Fast Medicine took the lead in launching the "antigen detection" 28-minute delivery service in Beijing. Residents can place orders through the Dingdang Fast Medicine Platform, dingdang brother delivery to their homes in 28 minutes, self-sampling, rapid detection. Help citizens complete testing without leaving their homes, ensure early detection, early isolation, early prevention and control, and timely and effectively carry out epidemic prevention and control. In addition, whether it is during the Spring Festival or the Winter Olympic Games, Dingdang Fast Medicine maintains a "fast delivery" service to protect the health of the public.
It is worth noting that in the testing business, Dingdang Health has launched convenient services such as "Dingdang Fast Medicine" and "Dingdang Fast Doctor", and has already laid out the "Dingdang Quick Detection" home service, and has successively launched home testing services such as Helicobacter pylori detection, HIV detection, early pregnancy detection, chronic disease detection, etc., and will also open more home testing projects such as intestinal testing, skin testing, and respiratory testing in the future. Dingdang fast medicine professional doctors and pharmacists also provide health guidance services after testing, and strive to create an integrated health service closed loop of "medical testing and drug" interconnection.