The market value of tmall global has skyrocketed by nearly HK $20 billion, and Ali health is seeking change

The long-term strategy of Alibaba Group has a new trend On February 7, 2020, Alibaba Health announced that it would purchase all the shares of alijkzns limited with HK $8.075 billion, and the company would issue 860 million new shares to alijkutritional products holding limited, the holder of alijkzns limited, a wholly-owned company controlled by Alibaba, with the issue price of HK $938 million Alijkzns Limited is a wholly-owned offshore holding company incorporated under the laws of British Virgin Islands for the purpose of holding the target business of Alibaba holdings The target business of this acquisition includes the sale of medical products and services on tmall platform and all business relationships established thereby It is disclosed that, in the fiscal year ended March 31, 2019, the above businesses generated a total commodity trading volume of about 9.575 billion yuan, and had about 35.8 million annual active buyers; as of January 31, 2020, the above businesses had more than 530 businesses authorized by tmall and Taobao China to engage in sales activities of medical products and services on tmall platform Affected by the news, Alibaba health rose 13.41% in the session on February 10, with its market value increasing by nearly HK $20 billion Of course, novel coronavirus pneumonia is rampant and the online medical trend is coming to an opportunity of development 01 gradually took over tmall's medical business in the past five years "After the acquisition of alijkzns, alihealth will become the only flagship medical platform of Alibaba," Citigroup wrote in the research paper In fact, it took Ali nearly five years to achieve this strategic goal As early as 2015, Alibaba identified "double H" (happiness and health) as the development direction of the group in the next decade At that time, Alibaba health was considered as the flagship platform of Alibaba in the field of medical health It is also this year that Ali health began to take over tmall pharmaceutical related business one after another On April 15 of this year, Alibaba Health announced that it had reached a final agreement with Alibaba to acquire tmall pharmacy, an online pharmacy trading platform of Alibaba, at the cost of HK $19.448 billion, and obtain its operation right After the completion of the transaction, Alibaba Group will become the controlling shareholder of Alibaba health with a shareholding ratio of more than 53% After that, Ali health, which had been suspended for more than half a month, opened 77% higher when it resumed trading It soared all the way in the session, achieving a huge increase of 80.83% in a single day, with a total market value of HK $100.2 billion However, the deal, which was supposed to be completed by the end of 2015, was not completed as scheduled In January 2016, Alibaba Health announced that it would delay the acquisition of tmall's online business operation right until March 31 due to incomplete preconditions However, on April 1, the acquisition strategy was changed to "sign a three-year service agreement, in which Alibaba health exclusively operates tmall healthcare e-commerce business and collects service fees." At that time, Alibaba health was suffering a lot In February 2016, Ali health fell into a "storm of electronic supervision codes" and was forced to transfer the management power of drug electronic supervision network to CFDA, which suspended the drug electronic supervision policy Before that, Alibaba health was still a single retroactive code service provider, and the drug electronic supervision business accounted for 99.9% of its total revenue Until September of that year, Alibaba health signed an operation service agreement with tmall, and tmall Medical Center officially integrated with Alibaba health This result is too late than expected, but for Ali health, who was at the forefront of life and death at that time, the asset injection of tmall Medical Center undoubtedly played a role in timely blood transfusion After that, Alibaba health's merger and acquisition of tmall's pharmaceutical business entered the fast lane In May 2017, Alibaba Group signed an equity subscription agreement with alihealth to inject the online business of "blue hat" health food, a tmall pharmaceutical platform worth HK $3.8 billion, into alihealth After the completion of the transaction, Ali health will obtain the business contract relationship of "blue hat" health food merchants on tmall pharmaceutical platform, provide value-added services for their series, and collect commissions At that time, this move was also considered as proof of Alibaba's determination to fully support Alibaba's health By may 2018, Alibaba health signed another agreement with Alibaba to acquire tmall medical devices and health products, adult products, medical and health services and other businesses with about 1.828 billion shares (about HK $10.6 billion) At that time, the total volume of commodity transactions of these businesses reached 20.561 billion yuan, involving 85.5 million active buyers and more than 3300 settled businesses The acquisition of tmall medical devices, health care products and other businesses will undoubtedly help Ali health to further integrate the existing medical e-commerce business segment, borrowing from the statement of Ali health at that time, "I believe that the acquisition of the target business will further ensure that Ali health will develop into the flagship platform of Alibaba Group's medical and health care." In the report, CICC believes that this transaction is the further implementation of Alibaba Group's "double H" strategy, providing Alibaba ecological users with personalized services integrating the whole life cycle health needs of prevention, treatment and health care based on the company's platform Today, Ali's health business is mainly focused on medical e-commerce and new retail, internet medical, consumer medical, intelligent medical and other fields According to the latest financial report data, in the first six months up to September 30, 2019, Ali health achieved a year-on-year growth of 119.1% in operating revenue to 4.117 billion yuan; operating profit of 29.39 million yuan, a significant improvement over the loss of 70.584 million yuan in the same period of last year The latest operation mode (source: Alibaba health announcement) after the delivery of the target business As of the first six months of September 30, 2019, the total volume of commodity transactions (Gmv) generated by tmall pharmaceutical platform operated by Alibaba health exceeded 37 billion yuan As of the first 12 months of September 30, 2019, the number of annual active users of tmall pharmaceutical platform is 160 million 02 will online health care usher in an unprecedented period of development? Back to the novel coronavirus pneumonia epidemic, the popularity of online health care represented by Ali health is also considered to be related to this First of all, from the perspective of policy, on February 7, the national health and Health Commission issued the notice of the general office of the national health and Health Commission on doing a good job in Internet diagnosis and treatment consulting services in epidemic prevention and control, which clearly gave full play to the role of Internet diagnosis and treatment consulting services in epidemic prevention and control, so as to effectively relieve the pressure of hospital treatment, reduce personnel concentration and reduce the risk of cross infection; then on February 8 The national health and Health Commission once again issued the document "strengthening internet diagnosis and treatment consulting services in epidemic prevention and control by the national health and Health Commission" Look at the market reaction Novel coronavirus pneumonia is novel coronavirus pneumonia, which includes incomplete medical statistics, including Tencent health care, health care, micro medicine, clove doctor, good doctor, doctor of spring rain, Jingdong health, good doctors and other platforms In addition, data shows that as of February 5, more than 4000 doctors from all over the country have participated in the "online consultation" services of Ali health, Aikang Guobin, meinian health and Hengsheng Yuntai In particular, after the closure of Wuhan on January 24, the fever clinics of major hospitals in Wuhan were full, and the offline doctors and medical materials were in short supply, resulting in an increase in the number of online consultations According to the data of all platforms, as of February 1, the free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free free Internet diagnosis and treatment concept unit is also hot In addition to Ali health's big rise, Ping'an good doctor's share price also kept breaking new historical highs from February 3 to February 10, with a cumulative increase of more than 20% On February 6, 9 shares in the internet medical sector rose by 4.75% Some insiders said that the proportion of online consultation was only 2% - 4% before, which is expected to increase to 10% under the catalysis of the epidemic Ali health level, in the evening of January 24th, Ali health joint Alipay emergency on-line volunteer service, in 4 days, more than 1 million 600 thousand people visited the online free clinic, some doctors averaged 200 people per day As of January 30, the total number of online free clinics visited by Ali health exceeded 2.8 million users, the number of doctors exceeded 1000, and the number of online doctors participating in online free clinics per capita exceeded 100 "In this wave of actions, internet medical enterprises have proved their deployment, organization and operation capabilities, and proved their credibility and applicability to b-end and C-end." Chen Qiaoshan, an analyst at Analysys healthcare, said Dongxing Securities believes that novel coronavirus pneumonia is a prominent feature of the new crown pneumonia epidemic In the long run, the online medical business has shown outstanding knowledge, and has raised the public's awareness of online medical care, enhanced the public's recognition of online medical treatment, and on the other hand, stimulated the policy makers to speed up the construction of online medical care Indeed, the epidemic has given online diagnosis and treatment a catalyst However, in retrospect, Internet health care has ushered in an investment outlet in 2014, but the field has been tortuous since it is difficult to find a sustainable business model At present, although online diagnosis and treatment is favorable, how to retain users is still a problem for major platforms to think about Also for alihealth, besides online consultation, how to further link and collaborate with existing business scenarios, and constantly explore the operation mode of internet medical industry chain, so as to consolidate and improve the profitability of core businesses such as medical e-commerce platform services? The acquisition of tmall may be part of the current trend As for Internet health care providers, the long-term development of the short-term fluctuations affected by the epidemic situation and policies remains to be seen Original author of penicillin: Mao San