AliHealth has become the biggest online pharmacy marketplace in China by sales, the company claimed on Tuesday, after posting revenues of USD 2.4 billion in the fiscal year ended March 31, 2021, up 61.8% compared to last year.
The company reported an annual net profit of USD 53.3 million, slightly below market expectations of USD 69.9 million, yet with a significant improvement from the USD 2.44 million loss reported in 2020, 36Kr reported.
The robust performance was mainly driven by the rapid increase in online sales of medicines and healthcare products through the firm’s self-operated online pharmacies, which accounted for 85% of the company’s revenue, according to the earnings release.
Leveraging Alibaba’s extensive retail base, AliHealth counts 280 million annual active buyers on its store on Tmall, and 520 million annual active users on its mini program on Alipay. Competitors such as JD Health reported 89.9 million annual active users as of the end of 2021, while Ping An Good Doctor counted 72.6 million monthly active users in the same period.
Aaron Zhang contributed to this piece.
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.