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Xinhua Credit
Company

Alibaba Health sees robust growth in net profit of 2020 fiscal year

May 28, 2020


Abstract : Alibaba Health (00241.HK), the healthcare flagship of Alibaba Group, has seen robust growth in the revenue and net profit of the 2020 fiscal year ending March 31.

BEIJING, May 28 (Xinhua) -- Alibaba Health (00241.HK), the healthcare flagship of Alibaba Group, has seen robust growth in the revenue and net profit of the 2020 fiscal year ending March 31.

The company's revenue in the fiscal year increased 88.3 percent year on year to reach 9.6 billion yuan, while its adjusted net profit hit 261.4 million yuan, surging 114.8 percent year on year, according to its filing to the Hong Kong Exchanges and Clearing Limited on Wednesday.

The improvement in profitability has laid a solid foundation for the company to make investment in such businesses as prescription drugs, Internet healthcare and digital health business, said the report.

During the fiscal year, Alibaba Health raked in revenue of 38.42 million yuan from Internet healthcare business segments and 39.49 million yuan from digital health business.

Confronted by the COVID-19 pandemic, Alibaba Health moved fast to introduce services such as free online medical consultation for residents in affected area, home delivery of life-saving medicines, psychological assistance for medical staff and family members of patients to help fight against the pandemic. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: Alibaba Health Internet healthcare

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