AliHealth is Alibaba’s company that focuses on helping people on health treatments and health insurances. On October 26, AliHealth released its semi-annual report, indicating the profit during the previous six-month period should be not less than RMB 200 million yuan (USD $30 million). It is worth noting that this is the first time that AliHealth has achieved a turnaround to profit.
According to AliHealth, the turnaround was mainly due to the rapid growth of users on its various platforms as users’ awareness of internet health increased. In addition, the company completed the acquisition of pharmaceutical products from Ali JK Nutritional Products Holding Limited in April 2020. Last but not the least, efficiency improvement and cost optimization were driven by platform economies of scale. In the first quarter of 2020, the cumulative unweighted active users of the Alipay Healthcare channel exceeded 390 million. (Source: Sina)