FAST NEWS: ClouDr Group reports first quarterly profit

The latest: Digital healthcare platform ClouDr Group Ltd. (9955.HK) announced Sunday that it expects to report its first ever quarterly profit for last year’s fourth quarter.

Looking up: The company’s move into the black was primarily driven by strong growth for its in-hospital and pharmacy solutions segments, high customer stickiness with high recurring purchases, and improved efficiency in administrative expenses.

Take Note: The company still recorded a net loss of 65 million yuan ($9.16 million) to 78 million yuan for all of last year, which was down 76.6% to 80.5% year-on-year.

Digging Deeper: Established in 2014, ClouDr is a provider of medical supplies and software as a service (SaaS) products to hospitals and pharmacies, as well as digital marketing services to pharmaceutical companies, and online consultation and prescriptions to patients. It mainly focuses on cardiovascular diseases, such as hypertension and high cholesterol, and chronic diseases such as diabetes. The company first applied to list in Hong Kong in 2021 and made its debut the next year, raising over HK$480 million ($61.5 million).

Market Reaction: ClouDr’s shares closed up 2.3% at HK$5.82 by the midday break on Monday. The stock now trades near the lower end of its 52-week range.

Translation by A. Au

To subscribe to Bamboo Works weekly free newsletter, click here