Alibaba Health Information Technology Limited says it saw no profit as it published its annual performance report ended March 31, 2015, and revealed its future business direction.
Alibaba Health made losses of HKD101 million, which was about CNY80 million, during the reporting period. Several sectors saw the largest expense increases, including sales and market promotions and labor expenses caused by product research and development.
Meanwhile, Alibaba Health will continue to promote the implementation of its medical electronic monitoring network and provide related technical support services. The company will establish a service network to connect Chinese medical and health industry participants, integrate offline and online trading platforms, and enhance platform service capacity and data analysis ability.
In 2015, Alibaba Health launched a mobile application to promote its medical O2O plan. So far, it has entered over 20,000 physical retail stores of 300 pharmacy chains.
At the same time, the company is building a cloud hospital platform to connect doctors, patients, pharmacies, and third-party medical service suppliers; and provide a free-of-charge cloud system to medical organizations to connect their databases. At present, those two projects are undergoing development.
Alibaba Health plans to further connect other participants such as medical insurance suppliers and medical manufacturers and distributors. The company will also promote the application of new medical and health technologies, mobile Internet technologies, and big data analysis within the network to build a medical and healthcare service network.