Alibaba health, with a market value of 250 billion, surpasses Baidu for the first time, but Jingdong health is not satisfied!

< br / >< br / > < br / > < br / > < br / > < br / > for a time, "it used to be bat, but now Baidu can only be equivalent to a business department of Ali Department"< br / > < br / > < br / > < br / > in two years, Alibaba health's market value has dropped from 50 billion yuan to 250 billion yuan, while Baidu's market value has dropped from nearly 100 billion dollars to 36 billion dollars< br / > < br / >< br / > < br / > < br / > < br / > behind the data, you may be more concerned about what kind of company Ali health is? Can it support the market value of 250 billion yuan? Is it really worth a Baidu? < br / > < br / >The two companies have very similar business and business modelWe will try to answer the above questions by comparing the data of each business module of alihealth and JD health< br / > < br / >The first concern is undoubtedly market value comparisonAs of the publication date, Alibaba health's market value is close to 240 billion yuan, while recently Citigroup's target valuation for Alibaba health is 258.8 billion Hong Kong dollars (about 237.1 billion yuan)Jingdong health can't get real-time valuation because it is not listed on the marketAccording to recent news, in May 2019, Jingdong health was independent from JingdongIn November of the same year, it completed a round of financing of more than 1 billion US dollarsAt that time, it was valued at 7 billion US dollars (about RMB 50 billion)However, according to Xin Lijun, CEO of JD health, "our valuation is not high."< br / >? The answer is clearly not< br / > < br / > According to Alibaba health's financial report as of March 31, 2020, the company achieved a revenue of 9.6 billion yuan, an increase of 88.3% year on year, and a loss of 15.7 million yuan, a decrease of 82.9% year on year According to the disclosure, Ali health has narrowed its losses for three consecutive years According to the current progress, it seems that it is not far from making profits < br / > < br / > < br / > < br / >! < br / > < br / > < br / > < br / > < br / > It is worth noting that the o2o business of JD system is mainly under JD family, including < br / > medicine < br / > o2o It is not known whether it will be reallocated in the future < br / > < br / > In terms of the proportion of business, both of them are currently relying on pharmaceutical proprietary business, which will be absolutely dominant < br / > < br / > < br / > < br / / > according to the financial report, the revenue of Ali health medicine's proprietary business in 2019 was 8.133 billion yuan, an increase of 92.43% year-on-year, and the proportion of contribution increased by nearly two percentage points to 84.76% This part of business mainly comes from Alibaba health pharmacy and Alibaba health overseas flagship store, as well as B2B centralized purchase and distribution business < br / > < br / > According to the public disclosure of JD's Partner Conference in October 2019, it only takes three years for JD's drugstore to be listed in four major drug retail chains with revenue of < br / > enterprises < br / > and JD's health retail business segment has become the largest pharmaceutical retail channel in China, with a market share of more than 15% in the pharmaceutical retail market What is the value? The highest revenue of the four listed pharmacies was 9.471 billion yuan in 2018 and 11.663 billion yuan in 2019 < br / > < br / > < br / > < br / / > for the income gap between the two companies, Xin Lijun once said frankly, "we have not disclosed the data, so there is no way to compare The income structure (recognition method) is different It is biased to only talk about the income corresponding to the user." < br / > < br / > In addition to < br / > < br / > < br / > < br / > Sales indicators, the number of active users is also an important reference indicator As of March 31, 2020, the annual active consumers of alihealth online self run stores (including alihealth pharmacy and alihealth overseas flagship store) have exceeded 48 million (the consumers who have actually purchased goods once or more in the past 12 months) JD health has not been disclosed < br / > < br / > < br / > < br / > < br / > From the perspective of the range of products included in the income, Ali health is obviously more extensive The above two channels cover imported drugs, healthy skin care, beauty and personal care, mother and baby products, etc., which are not covered by JD pharmacy < br / > < br / > < br / > < br / > on the other hand, JD pharmacy may focus more on drugs, especially prescription drugs, and the coverage of JD pharmacy may be more extensive Looking back, at the beginning, tmall pharmacy was oriented to prescription drugs Ali health seized the benefits of this part of the market through platform revenue, while JD pharmacy will have more self-supporting layout < br / > < br / > < br / > < br / > In 2019, Ali health cooperated with Quzhou City, Zhejiang Province to build a platform for further consultation of chronic diseases, which is essentially the layout of slow use drugs < br / > < br / > < br / > < br / > Alibaba Health said in its annual report that it will further launch the chronic disease welfare plan, give full play to the capacity reserve and operation experience of the super pharmacy, and provide the chronic disease management services such as exclusive cloud doctors and drugs directly supplied by the original factory for the chronic disease population Jingdong pharmacy has cooperated with more than 70 pharmaceutical companies, including AstraZeneca, Bayer, MSD, GSK, xinlitai and Zhengda Tianqing < br / > < br / > According to Jin enlin, head of Jingdong health and medicine department, as early as after the first batch of volume purchase negotiations, he was considering whether to introduce the "4 + 7" products falling into the e-commerce channel < br / > < br / > To avoid competition in the Red Sea market through non mainstream product regulations is a bit of "leakage detection" < br / > < br / > < br / > < br / / > in addition to the "4 + 7" flow standard drugs, new specialty drugs such as antitumor drugs are also the areas Jingdong health is currently focusing on, such as gefitinib, aleatinib, apatinib, etc are sold in the pharmacy of Jingdong, and corresponding brand areas have been made, such as the tumor area with 6 cancer species cooperated with Roche However, there is no sale in alihealth pharmacy, and only one imatinib is on sale in TiNi alihealth, which indicates alihealth has begun to test water on anti-tumor drugs < br / > < br / > < br / > < br / > < br / > < br / > < br / > in summary, in front of the first business, the two companies have their own characteristics, one has a wider coverage and the other has a deeper involvement in the field of prescription drugs What is the difference between JD health and Ali health? "It's not easy to judge competitors, but Jingdong has always been at the forefront of prescription drugs," Jin said < br / > < br / > There is a reason for Ali health's division Tmall's medicine store and medicine o2o are all entered by a third party < br / > drugstore < br / > and Ali health collects platform fees to seize the benefits of this part of the market According to the < br / > < br / > < br / > < br / > Ali health financial report, the medical e-commerce platform business achieved a revenue of 1.17 billion yuan in 2019, an increase of 69.62% year-on-year, and the revenue contribution ratio decreased by more than 1 percentage point, which is still the second largest revenue contribution source < br / > < br / > Take the quanyuantang pharmacy, which has the highest sales volume, for example, it has basically settled in at the same time The number of fans in tmall's Medical Museum is 1.03 million, and the number of fans in Jingdong channel is 119000 This difference is not hard to understand On the one hand, it is consistent with JD's own property On the other hand, tmall medical center was launched in 2012, and JD medical city was launched one year later < br / > < br / > As of March 2020, the business has covered 14 cities including Hangzhou, Beijing, Guangzhou, Shenzhen, Wuhan, Shanghai, Chengdu, etc Meanwhile, it has been in the