Lei Jianping on January 10
iFLYTEK (stock code: 002230) recently announced that the company intends to spin off its holding subsidiary iFLYTEK Medical to be listed on the main board of the Hong Kong Stock Exchange.
The issuance size of iFLYTEK Medical does not exceed 15% of the total share capital after the issuance, and the issuance method is a Hong Kong public offering and an international placement of new shares.
More than two years ago, iFLYTEK was planning to spin off its medical business and go public, and this is the official landing of iFLYTEK's spin-off. This is also the first time that iFLYTEK has spun off its business and listed it, and iFLYTEK may incubate more of its sectors to be listed in the capital market in the future.
Annual revenue of 500 million Xinghuo medical model blessing
According to reports, iFLYTEK Medical is a subsidiary of iFLYTEK and was established in 2016.
Based on the intelligent voice and artificial intelligence technology accumulated by iFLYTEK for more than 20 years, iFLYTEK Medical uses core technologies such as speech recognition, image recognition, and natural language understanding to realize functional modules such as AI medical guidance, voice electronic medical records, image recognition, auxiliary diagnosis, and outbound follow-up in the field of AI application in smart hospitals and primary care, and has achieved good results in improving the informatization and intelligence level of hospitals and improving the diagnosis and treatment capabilities of grassroots doctors.
As the public's attention to medical and health issues continues to increase, more and more people tend to use the mobile Internet to search for relevant information.
Data shows that 20% of internet searches are health-related. However, on the one hand, the existing access to medical and health information is scattered and the source of information is difficult to guarantee, and there is a large amount of advertising content and a slow response speed.
On the other hand, medical and health consultation scenarios are often complex, and professional personal health assistants need to have rich medical knowledge, have the ability to understand the patient's intentions through multiple rounds of dialogue, and give professional and detailed responses. In addition, high-quality medical datasets pose challenges for personal health assistants.
iFLYTEK Medical said that it has been deeply engaged in the field of medical artificial intelligence for many years, using artificial intelligence to serve life and health, and has deep industry accumulation and solid technical precipitation.
On the one hand, based on artificial intelligence technology that has passed the national medical practitioner qualification test, it empowers grassroots doctors.
Intelligent medical assistant has become the only large-scale application of grassroots intelligent auxiliary diagnosis in the country, and has achieved large-scale successful application in 426 districts and counties in more than 30 provinces across the country, giving more than 700 million auxiliary diagnoses, detecting more than 54 million unreasonable prescriptions, and correcting more than 1.33 million medical records after being reminded by intelligent medical assistants, which has greatly improved the standard rate of medical records, the reasonable rate of diagnosis, and the reasonable rate of medication.
On the other hand, the iFLYTEK Xinghuo medical model has hundreds of millions of high-quality medical data, and has six core capabilities: medical massive knowledge question and answer, complex language understanding, professional document generation, diagnosis and treatment recommendation, as well as multi-round interaction and multi-modal interaction, and has in-depth cooperation with the People's Medical Publishing House, the Journal of the Chinese Medical Association, and the Scientific and Technical Literature Publishing House, so that the large model can further master professional medical knowledge.
The iFLYTEK Xinghuo medical model has also passed the evaluation of the country's first technical standard for the application of large models in the medical and health field led by the China Academy of Information and Communications Technology and jointly released by more than 20 industry-university-research institutions, which is more professional, standardized and safe when solving medical needs.
After completing the basic capability building, the time has come to build an AI health assistant for everyone. iFLYTEK Xinghuo medical large model technology empowers AI health assistants, and releases iFLYTEK Xiaoyi APP and applet, incarnated as "health AI know-it-all", integrating functions such as symptom self-examination, report interpretation, rapid query of medical information, and health file management, to provide residents with refined health consultation.
According to the announcement, iFLYTEK Medical's revenue in 2020, 2021, and 2022 will be 320 million yuan, 356 million yuan, and 494 million yuan respectively, and the net profit after deducting non-profits will be 14.28 million yuan, -83.56 million yuan, and -216 million yuan respectively.
The ability of Xinghuo Medical's large model surpasses that of GPT-4
According to Tao Xiaodong, President of iFLYTEK Medical, due to the seriousness, sensitivity, professionalism and other particularities of medical treatment, the large model in the medical field is not simply "from 0 to 1", but needs to be deeply integrated into the medical scene to meet the real needs of clinical practice. The release of the iFLYTEK Xinghuo medical model is a response to "returning to the essence of medical treatment and solving clinical problems".
Tao Xiaodong pointed out that the core of the implementation of artificial intelligence technology is to do a solid job in the underlying basic capability architecture. The iFLYTEK Xinghuo medical model has hundreds of millions of high-quality medical data, and has six core capabilities: medical massive knowledge question and answer, complex language understanding, professional document generation, diagnosis and treatment recommendation, as well as multi-round interaction and multi-modal interaction, and has in-depth cooperation with the People's Medical Publishing House, the Journal of the Chinese Medical Association, and the Scientific and Technical Literature Publishing House, so that the large model can further master professional medical knowledge.
The National Center for Comprehensive Utilization of Scientific and Technological Information Resources and Public Service (STI) evaluated the six technical capabilities of the iFLYTEK Xinghuo medical model, and the results showed that the iFLYTEK Xinghuo medical model surpassed GPT-4 in six core capabilities, such as medical massive knowledge quizzes, medical complex language understanding, and medical professional document generation.
In terms of iterative upgrading of enabling product capabilities, the iFLYTEK Xinghuo medical model allows each doctor to have an exclusive AI diagnosis and treatment assistant, which can be embedded in the medical process before, during and after diagnosis, and realizes the improvement of medical service level and quality in application scenarios such as auxiliary diagnosis and treatment, intelligent drug review, medical record auxiliary generation, medical record connotation quality control, post-diagnosis patient management, and multimodal research of medical text and images.
Tao Xiaodong said that based on the iFLYTEK Xinghuo cognitive model released on June 9, 2023, the capacity of the post-diagnosis patient management platform was upgraded, and on October 24, after the release of the iFLYTEK Xinghuo medical model, the ability of the post-diagnosis patient management platform was further improved. Taking patients with cerebral infarction as an example, the platform extracts key portrait information based on the patient's medical record data during the hospitalization to generate personalized health guidance for patients after discharge.
At the same time, the platform automatically reminds patients, and during the recovery process, actively manages patients through AI follow-up calls and other methods, and provides patients with 7*24 hours of consulting services through large models. The new generation of post-diagnosis patient management platform has taken the lead in Anhui and Shandong, covering more than 30 departments of major diseases, covering 85% of discharged patients, through management, patient compliance has been greatly improved, and personalized rehabilitation plans are mainly automatically generated by large models.
In terms of allowing everyone to have an intimate AI health assistant, iFLYTEK Xiaoyi, based on the ability of the medical large model, has become "your AI health assistant", integrating functions such as symptom self-examination, interpretation of physical examination reports, rapid query of medical information, and health file management to provide residents with refined health consultation.
Wuhan Tongji Hospital is one of the 14 high-quality development pilot hospitals in China and the only pilot hospital in the central region. As early as May 2023, Tongji Hospital and iFLYTEK Medical launched a strategic cooperation, focusing on in-depth cooperation in the direction of doctor diagnosis and treatment, patient medical treatment, and scientific research.
At present, iFLYTEK Medical is also working with authoritative medical knowledge publishers in the industry such as the Journal of the Chinese Medical Association and the Scientific and Technical Literature Publishing House to jointly build a new infrastructure for medical models and expansion service cooperation, medical and health cognitive model cooperation, etc. In the future, the two parties will work closely together in the construction and learning of medical large model expertise, core algorithms and models, and industry applications, so as to jointly build a smart medical road.
iFLYTEK directly holds 52.47% of the shares
iFLYTEK Medical's equity was also exposed for the first time. According to the announcement, iFLYTEK Co., Ltd. holds 52.47% of the shares of iFLYTEK Medical, Hefei Zhengsheng Information Technology Partnership (Limited Partnership) holds 17.11% of the shares, Anhui Kexun Venture Capital Fund Partnership (Limited Partnership) holds 15.03% of the shares, Hu Guoping holds 3.94% of the shares, Shenzhen Tianzheng Investment Co., Ltd. holds 3.43% of the shares, and Zibo Jizhi Equity Investment Fund Partnership (Limited Partnership) holds 1.53% of the shares;
Shanghai Shuiyao Enterprise Management Consulting Services Co., Ltd. holds 1.32% of the shares, Anhui Yanzhi Technology Co., Ltd. holds 1.19% of the shares, and iFLYTEK Haihe (Tianjin) Artificial Intelligence Venture Capital Fund Partnership (Limited Partnership) holds 1.13% of the shares;
Hainan Yuntong Equity Investment Partnership (Limited Partnership) holds 0.92% of the shares, and Hefei Tongchuang SME Development Fund Partnership (Limited Partnership) holds 0.66%;
Shenzhen Guoke Ruihua Phase III Equity Investment Fund Partnership holds 0.66% of the shares, Shanghai Guyu Nange Science and Technology Development Center Limited Partnership holds 0.36% of the shares, and Hefei Kexun Lianshan Innovation Industry Investment Fund Partnership (Limited Partnership) holds 0.26% of the shares.
iFLYTEK is the controlling shareholder of iFLYTEK Medical and the actual controller of iFLYTEK Medical.
After the spin-off, iFLYTEK will still maintain control over iFLYTEK Medical, which is still a subsidiary within the scope of the consolidated statements of the listed company, and the operating performance of iFLYTEK Medical will be reflected in the overall performance of the listed company.
Since its establishment, iFLYTEK has continued to focus on the research of core AI technologies such as intelligent speech, natural language understanding, machine learning reasoning and self-learning, and actively promoted the research and development of AI products and the implementation of industry applications.
iFLYTEK said that after the spin-off and listing, iFLYTEK Medical will have an independent financing platform and use it to deepen its main business, which is conducive to enhancing iFLYTEK's ability to carry out technical reserves and market development in the medical industry, and enhance the company's overall profitability in the future by enhancing its comprehensive market competitiveness.
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