Physical Examination

On November 4, an announcement on the reduction of Ali's holdings in American new year health aroused a "Thousand Layer Wave".

There have been various conjectures about the reduction of Ali's holdings in the market, including the statement that Alibaba lacks funds due to the suspension of listing of ant group, and the speculation of Guoxin Securities analysts that "meinian health and Aikang Guobin merge". Ali did not respond publicly, but the latter's speculation triggered a strong rebound of Aikang Guobin, which has been fermenting so far.

The reason why there are two merger speculation in the market is that there is a common shareholder, Ali department. However, the reporter who was responsible for the merger of the two countries said that they did not want to be responsible for the merger. Aikang Guobin also expressed this meaning in some external voices. It is understood that Ali, as a shareholder, does not interfere with Aikang Guobin's operation.

After investing in Aikang Guobin and meinian health at the same time in Ali department, it has been commented that the private physical examination has changed from three (Ciming physical examination, Aikang Guobin and meinian Health) to two (meinian health's acquisition of Ciming medical examination) to Ali's unification. However, it is understood that after joining the Ali system, both of them are operating independently, and the Ali system does not interfere in specific business.

A professional who has been following the physical examination industry for a long time told the reporter of the 21st century economic report that although the private medical examination industry is busy and the competition among enterprises is fierce, in fact, the share of public hospital physical examination is still the largest. "The biggest competition is still in public hospitals."

In fact, the business of physical examination was not very important to public hospitals. However, due to the comprehensive implementation of medical reform policies, such as centralized purchase, zero plus of drugs and consumables, and price limit of imaging diagnosis, these incomes are theoretically zero. A vice president of a public hospital in Central China told the 21st century economic reporter that under the above background, public hospitals are indeed increasing their investment in physical examination and looking for new profit margins and profit points. In the future, competition, especially in high-end fields, will be more intense.

Private medical examination industry is busy, and the competition is fierce, but in fact, public hospitals account for the largest share of physical examination. IC PHOTO

One wave is not smooth, another is rising again

On the evening of November 4, meinian Health announced that the company received the notice on the change of its holdings of meinian health shares issued by Alibaba Network Technology Co., Ltd., a shareholder holding more than 5% of shares, on November 3. As of November 3, 2020, Alibaba network has reduced 53.9926 million shares of the company through the block trading system of Shenzhen Stock Exchange, accounting for 1.3794% of the total share capital of the company.

As for the reasons for Ali's reduction, it was not clearly pointed out in the above announcement, which triggered a series of reverie in the market.

At the beginning, there was speculation that it might be related to the suspension of the listing of ant group, and Ali lacked funds. However, the reasons for this speculation were not sufficient. The amount of capital reduction was not particularly huge. In addition, relevant people told the 21st century economic report that Ali did not reduce its holdings because of the need for investment, and it had nothing to do with its investment plan.

And then a brokerage research paper pushed the matter to another story version.

On November 6, Xie Changyan and Zhu Hanqing, analysts of Guoxin Securities, issued a research report, pointing out that "although the company has not disclosed the reasons for Alibaba's network share reduction, according to our analysis, we speculate that the potential reason may be that alixi evaded becoming a controlling shareholder and was forced to start the process of solving the problem of horizontal competition and injecting Aikang Guobin

On November 8, Aikang Guobin sent a "lawyer's letter" to Guoxin Securities, asking Guoxin Securities to give a written reply to relevant issues. However, because of dissatisfaction with the reply, he made a real name report to China Securities Regulatory Commission, Shenzhen Securities Regulatory Bureau and China Securities Association on November 12, asking for investigation on Guoxin Securities Analysts suspected of spreading false information and misleading investors, and give them according to law handle.

On November 19, Aikang Guobin said on its public account that, at the invitation of Shenzhen Securities Regulatory Bureau, on the morning of November 17, relevant personnel of Aikang Guobin made a special trip to Shenzhen Securities Regulatory Bureau to reflect relevant problems, further provide relevant materials on suspected violations by Guoxin Securities analysts, and cooperate with the investigation of Shenzhen Securities Regulatory Bureau.

A person in charge of Aikang Guobin told the 21st century economic reporter that in the current business environment, regulatory authorities pay more attention to the harm of industrial monopoly, and monopoly will certainly damage the interests of consumers and customers. "Aikang welcomes the benign competition among peers, but firmly opposes all kinds of malicious competition, especially those that disrupt the market environment by virtue of the inflated market value of bubbles."

The reporter of 21st century economic report also noted that at the end of the above official title, Aikang Guobin also mentioned the relevant national documents: on October 9, 2020, the State Council issued the State Council's opinions on further improving the quality of listed companies. At present, China Securities Regulatory Commission is making solid efforts to improve the quality of listed companies. Accordingly, since this year, the China Securities Regulatory Commission has revised the Interim Provisions on reporting violations of securities and futures, and solicited opinions from the public on the administrative punishment measures for securities and futures violations (Draft). The Securities Regulatory Commission of China Securities Regulatory Commission (CSRC) should be responsible for the misrepresentation of the Securities Regulatory Commission and the Securities Regulatory Commission of China (CSRC) on July 2020 for failing to make due diligence in publishing the relevant information.

From "Three Kingdoms killing" to "two tigers fighting"

The reason why there will be such speculation in the market is that Aikang Guobin and meinian health share the same shareholder Ali department.

On January 18, 2019, Aikang Guobin announced the completion of privatization. After the completion of the privatization, Taobao China holding and treasure cottage of Alibaba will indirectly hold about 23.8% of the equity of Aikang Guobin, and the new fund of Suning and Yunfeng will indirectly hold about 8.2% of the equity of Aikang Guobin.

On December 18, 2019, meinian Health announced that the transfer registration procedures had been completed for the transfer of shares by the shareholder Tianyi asset and the persons acting in concert with Shanghai Qijun. Alibaba network and its acting in concert Hangzhou xintou held 563926446 shares of meinian health, accounting for 14.39% of the total share capital of the company, and Shanghai Qijun held 199915969 shares, accounting for 5.10% of the total share capital of the company.

However, although the two have common shareholders, there is no information about the merger in public or in reports. In fact, the two sides not only compete, but also have some lawsuits that last for many years.

Before that, Dr. Han Xiaohong, founder of Ciming medical examination, became the first person to establish a private physical examination institution. Later, Zhang Ligang, founder of Aikang Guobin, and Yu Rong, meinian health, joined in. In the process of development, Ciming medical examination was not listed for many reasons, and was finally acquired by meinian health.

After being acquired, Han Xiaohong invested and established Ciming Boao International Hospital in 2015 aiming at the international medical tourism Pioneer Area of Boao Lecheng, Hainan. At the end of 2017, Boao Ciming international hospital won the third class hospital license, positioned high-end medical treatment, and set up nine industrial directions, including the latest cutting-edge medical technology such as assisted reproduction center and cell biomedical center. At present, the first phase is already in operation. According to the 21st century economic report, the second phase of more than 50000 square meters of buildings will soon be put into operation, and many new projects are being put on record for approval.

Previously, Han Xiaohong said in an interview with the 21st century economic reporter that she is willing to make all kinds of attempts and efforts. She believes that the physical examination industry provides the following extensible and upgrading services. A senior person in the industry who has been paying close attention to Ciming's physical examination for a long time concluded that at present, Han Xiaohong actually wants to do the whole life cycle health management, connecting physical examination, prevention, health preservation and intervention, grafting the world's top pharmaceutical equipment and high-end medical resources, opening up the whole industry chain in the future, and providing a one-step health management plan.

When Han Xiaohong suddenly turned around, the private medical examination left two men fighting.

In its annual report of 2019, meinian Health pointed out that the era of "only fast and invincible" has come to an end, and China has entered a slow era of hard core innovation. The development of enterprises is no longer one-sided pursuit of scale economy, but is full of high-quality development.

In terms of public health examination market, meinian health and Ciming physical examination are the core market coverage. The medium and high-end group health examination, comprehensive medical service market and high-end personal health examination are respectively provided by Ciming AoYa and meizhao. Continuously use the results of technological innovation and big data mining to create a health management system with full chain intelligence, full data personalization, full platform integration and full cycle mobility.

The second half

It is worth noting that although the competition between meinian health and Aikang Guobin is fierce, both Zhang Ligang and Yu Rong are optimistic about the physical examination industry, and both believe that public hospitals are the main competitors.

According to the data of "Panoramic Map of China's health examination industry in 2019" by prospective industry research institute, the number of physical examination in China has increased from 344 million in 2011 to 575 million in 2018, accounting for 42% of the total population. The overall scale of the health examination market has reached 150 billion yuan. Among them, the market scale of professional health examination institutions will reach 55.8 billion yuan in 2024 from 18.5 billion yuan in 2019. According to another report, from the perspective of competition pattern, the medical examination industry is still dominated by public institutions, supplemented by professional medical institutions (the number accounts for only 8%).

Zhu Ying, President of Aikang Junan health care international medical center, said in an interview with the media that Zhang Ligang did not regard CI Ming as a competitor, "our biggest competitors are top three hospitals such as Concord and 301.". According to another report, Yu Rongzeng said that the future direction of meinian's efforts is to gradually transfer the share of public hospitals to a third-party platform similar to that of meinian.

In May 2020, Xiong Fangjun, vice president and Secretary of the board of directors of meinian health Co., Ltd., said at the 2019 online performance presentation meeting that the domestic physical examination market is huge and still in the growth stage. The company's overall proportion in the physical examination market is still low. The company's main competitors include public hospital physical examination centers and private physical examination centers.

For a long time, the health examination center has been the marginalized Department of public hospitals. However, due to the comprehensive implementation of medical reform policies such as centralized purchase, zero addition of drugs and consumables, and price limit of imaging diagnosis, these incomes are theoretically zero. Public hospitals have lost huge profit space and are in urgent need of developing high-profit business. Health examination is one of the directions.

The above-mentioned senior people in the industry told the 21st century economic report that from 301 Hospital, Sino Japanese Friendship Hospital, Peking Union Medical College Hospital and county-level public hospitals, physical examination centers have sprung up, and the health examination industry has set off another climax. In the field of post examination service, the health management (Health examination center) set up by public hospitals and the chain physical examination institutions meet and seize High end market.

It is understood that 301 Hospital and other hospitals have launched functional medicine research to explore the early warning signals of various sub-health States, including: toxic element exposure, immune function imbalance, toxin excess, intestinal function decline, hormone imbalance, metabolic imbalance, excessive free radicals, etc.

A vice president of a public hospital in Central China told the 21st century economic reporter that public hospitals are indeed increasing investment in physical examination and looking for new profit margins and profit points. "It is true that the profit margin of physical examination will be higher, but what is more important is that physical examination can play a role of" flow entrance ". In particular, through physical examination, patients with problems can be divided into various departments of the hospital, which is also the feedback of physical examination business to the hospital, which is more significant for public hospitals."

However, the above-mentioned vice president also admitted that there is a certain pressure on public hospitals, because private institutions are doing a good job in services, and some medical institutions are also pulling the price very low, which has a great impact on the physical examination business of public hospitals.

In terms of the competition between private medical institutions and public hospitals, Zhang Ligang pointed out in an interview with the 21st century economic report that the competition between private medical institutions and public hospitals will certainly be differentiated. At the same time, the development of private medical examination centers will also make public medical centers pay more attention to service, thus driving the development of the whole physical examination industry.

"Because physical examination is a must for many employees' welfare, the income of this industry mainly comes from group customers. For those large and medium-sized cross regional enterprises, it is difficult for public hospitals to meet the needs of these enterprises relying on regional services, while private chain medical institutions can meet the demand of one-stop service. In addition, large enterprises have a strong bargaining power, while public hospitals are rigid in price and cannot provide higher cost performance Zhang Ligang pointed out.

In Zhang Ligang's view, for private medical centers, the strength of experts is still weak. However, the application of artificial intelligence, big data and precision medical technology can make up for the shortage of experts and reduce the dependence on experts. In some fields, these technologies even help private medical centers to establish a stronger competitive advantage.

"At present, the market share of physical examination is still dominated by public hospitals. The main reason is that the number of physical examination centers in public hospitals is still far more than that in private hospitals. Especially in prefecture level cities or county-level cities, in many county-level cities, there are only physical examination centers in public hospitals, but no physical examination centers in private institutions. In many large cities, in fact, the number of people who have physical examination in private medical centers has exceeded that in public hospitals. For example, in Beijing, more than 5 million people take physical examination every year, and more than half of them are in private physical examination centers. The Aikang Guobin family has served about 1.7 million people. " Zhang Ligang pointed out to the 21st century economic reporter.

In Zhang Ligang's opinion, the healthy development of physical examination institutions first depends on whether they have the correct values, and whether the medical quality is up to standard, and whether they can use artificial intelligence, big data and precision medical technology to help customers discover the hidden dangers of diseases earlier and more accurately, and help them provide follow-up solutions. At the same time, whether it is technological innovation or service innovation.