Performance exceeds expectations, and the advantages of AI technology have helped PA GOODDOCTOR (01833) lead the internet medical sector.

On March 24, PA GOODDOCTOR (01833) released its annual performance report for 2025, with profit performance far exceeding market expectations, leading to a strong rise in the secondary market, leading the Hong Kong medical sector. In the morning of March 25, as of the time of publication, the company's stock price was HK$12.84, up 11.65%. According to the financial report, PA GOODDOCTOR achieved a total revenue of RMB 5.468 billion in 2025, an increase of 13.7% year-on-year. Gross profit was approximately RMB 1.772 billion, a 16.3% increase year-on-year; net profit attributable to owners of the parent company was approximately RMB 380 million, a 3.66 times increase year-on-year; adjusted net profit was RMB 414 million, a 161.3% increase year-on-year. During the reporting period, the company's paid users reached nearly 35 million, an 11.4% increase year-on-year. Among them, the enterprise health management business emerged, with annual revenue of RMB 1.306 billion, a significant increase of 40.6% year-on-year, becoming the "second curve" driving growth. AI technology enabling across all scenarios has become the key to reducing costs and increasing efficiency. "AI + real doctors" achieved full coverage of individual customers of Ping An Group, with AI contributing about 4.5% to gross profit, and the cost of single consultation in the fourth quarter significantly decreased year-on-year. This better than expected profit from PA GOODDOCTOR not only opens up space for its own valuation repair, but also injects a strong stimulant into the Hong Kong Internet medical sector. The market expects that after the confirmation of the profit turning point, the company is expected to usher in a new round of value reassessment.