Doubling Its Share Price, Another Unicorn Appears Under Ali.

Ma Yun once said: the next person who surpasses me must be in the health care industry. Now it seems that this Surpassing from the health care field may be Ma Yun himself.

Recently, Ali health shares rose 10.89%, closing at HK $18.94 / share, in April 23rd, Ali health continued to rise, the stock price once approached 20 Hong Kong dollars / share.

At present, Ali has a healthy market capitalization of HK $254 billion 300 million, a record high. Compared with the closing price of HK $9 / share in December 31, 2019, Ali's share price rose more than 110% in less than 4 months in 2020.

It is clear that Ma Yun, who spent over 1 billion years to establish Ali health in 5 years ago, has come to the time of breaking loose leaves. As one of the healthy shareholders of Ali, Ma Yun will also become one of the beneficiaries of his stock price rise.

However, even Ma Yun probably did not expect Ali health to become a "unicorn" in the field of health so quickly. After all, six months ago, Ali's health seemed to be in the throes of transition.

　　 Labor pains in transition

Although Ali health claims to have many business segments, such as medical electronics and new retail, Internet health care, consumer healthcare, smart medicine and so on, but before 2020, Ali's health gave more impression to an online pharmacy.

This is also reflected in Ali's healthy earnings report. In the 2018 fiscal year (corresponding to March 31st March 31, 2017 -2018), Ali's health revenue was 2 billion 443 million yuan, up 414.2% over the same period last year, of which the sales revenue of health products was 2 billion 149 million yuan, accounting for 88% of the total revenue.

In the 2019 fiscal year (corresponding to March 31st March 31, 2018 -2019), Ali's health revenue was 5 billion 96 million yuan, up 108.6% over the same period last year, including 4 billion 227 million yuan in pharmaceutical self operated business, including B2C retail sales, accounting for 82.9% of the total revenue.

Thus, Ali health as the "online pharmacy" sales business is the main source of its revenue. But long term reliance on online pharmacies is not a permanent solution.

On the one hand, Ali's healthy ambitions are no more than online pharmacies. On the other hand, the growth of online pharmacies has shown signs of growth.

Overall, from the super 400% in fiscal year 2018 to 108.6% in fiscal 2019, Ali's healthy revenue growth has dropped sharply, and the online pharmacy business as the main source of revenue is to blame.

In the 2019 fiscal year, the growth rate of medical self business revenue (91.3%) is lagging behind the overall 108.6% growth rate. It also shows that the growth of the business has a certain degree of drag on the overall revenue growth.

So in 2019, Ali health has faced the challenge of transformation. The direction of its transformation is also very clear, that is, on the basis of further consolidating and improving the online pharmacy business, it will expand to Internet healthcare.

In the second half of 2019, Ali joined hands with the local health insurance bureau to pilot the "Internet + medical service" and Alipay's "night clinic". All these actions indicate that Ali's health is expanding new revenue growth points.

Although this positive transformation has some achievements, it is not enough for Ali to grow up healthfully. Ali health report in the 6 months ended September 30, 2019 shows that its revenue growth has risen to 119.1%. Consumer healthcare, Internet healthcare and smart healthcare have become new engines of growth, but the overall business revenue still depends on the pharmaceutical self business.

The development of new business is still a long way to go. At this time, restricting the healthy development of Ali is not the number of users, nor the technology, but the market.

First of all, the state policy has not enough support for the emerging fields such as Internet health care, intelligent medical care, etc. Secondly, the public still lacks confidence in online medical care, which restricts the health of Ali to promote and explore the development of internet medical and intelligent medical care.

Expanding market demand, changing the habits of thousands of doctors, and even changing the whole medical system is not a matter that can be achieved in a short time. Before 2020, Ali's health may have been ready for a long-term battle. But the outbreak has changed everything.

　　 Under the draught alone

Before 2020, Ali faced three major health problems, namely, market demand, policy support and public trust. According to the normal development rule, Ali health needs to expand the market demand through long time efforts, get policy support, and gradually gain the trust of users, so as to finally successfully open the market.

At that time, everyone knew that the Internet healthcare market had great potential, but no one knew when the market would develop rapidly.

Opportunities are always reserved for those who are prepared. The emergence of the epidemic has brought the "east wind" to the internet medical field. Ali health has become the key role in the epidemic, and this has also been upgraded in an all-round way.

Whether early Ali health on-line volunteer platform, or follow-up successive "buy medicine not to go out" service, joint pharmaceutical manufacturers launched the "chronic disease welfare plan", and recently let Ali healthy fire new crown nucleic acid detection platform.

While meeting the urgent needs of the public, the first time, internet medical care has been shown to the public and users by ignoring the advantages of distance and queuing.

This is also the first time Ali health has the opportunity to promote the online inquiry and drug delivery to the home without obstruction.

In recent years, the market demand for Internet healthcare has begun to break out. The online medical platform that accompanied people through the epidemic situation has gained the trust of users by their key performance.

With the increasing recognition of Internet healthcare in all walks of life, relevant departments of the state have timely launched a new policy to incorporate Internet health insurance into medical insurance. At present, many provinces and cities have integrated the Internet plus medical service into the medical insurance settlement system.

Combined with all these factors, the air gap of internet medical treatment has become more obvious. This not only provides an accelerator for the health of the transformation of Ali, but also makes the Internet healthcare rapidly become the "capital steamed bread" of the capital market.

With ALI health rose, there are ping an good doctor and other internet medical platform, data show that from the beginning of this year, Ping an good doctor's share price rose more than 100 percent.

But from the market value, Ali health is still thriving. Its market value has been at the same level as the old Internet enterprise millet, and has become the "unicorn" enterprise without controversy in the field of big health.

　　 The road to Unicorn still faces challenges.

There is no doubt that after this "epidemic", Ali health has successfully opened up the new growth point of internet medical treatment, but Ali's healthy "unicorn" road still faces challenges.

On the one hand, after the arrival of the draught, the emergence of the official Internet treatment platform, as well as the involvement of state agencies in the internet medical platform, or changing the competitive situation in the internet medical market, serve as the third party Internet medical platform. Ali's healthy "unicorn" road is still full of challenges.

On the other hand, after the business is launched, the profit model will be successful, otherwise everything will be empty talk. Internet health care is still at an early stage of development. How to solve the problem of how medical insurance reimbursement stride across platforms, regions, and how to control the circulation of electronic prescriptions is the key to whether Ali can successfully explore the profit model.

Finally, for Ali health itself, Internet health care is only one of its business segments. Based on the current online pharmacies, e-commerce business and Internet healthcare business, it will expand its influence to the whole health field and form its own ecosystem. This is a long-term challenge.

Recently, Ali's big health organization has been upgraded. Zhu Shunyan has become a new helm, and will definitely further develop with innovative thinking, and help speed up the digital "new infrastructure" in the field of social medical health. It means that Ali health will accelerate from platform to "ecology", relying on the advantages of Ali digital technology, intelligent medical treatment or Ali will be the next health market to conquer.

As we all know, Alibaba, which started with electricity providers, is no longer a purely electronic business enterprise. In recent years, Ali's brand has become a unicorn in its respective fields, but it has become a new "unicorn" in recent years. Although Ali's health has yet to grow, it has become a new unicorn in recent years. Although Ali's health is still growing, compared with ALI, ant and gold clothing, Ali's health and potential are still growing, but its potential and light has already been developed. The health of's brand has become a new "unicorn". It's hard to hide.

And Ma Yun, who has long retired, left a legend about big health.

This article is reproduced from: http://www.dsb.cn/118545.html