How to earn money (what make money from songs)


Source @ Vision China

Wen | hit the headlines

2021 is about to conclude.

Looking back on the year, from Zhongxingpengyue to be eclipsed, the Internet has experienced medical rainbow night.

in 2020, the epidemic overlay policy support, long-silent again set foot on the medical Internet outlet. Within a year, lilac garden, rain doctors, doctors and other micro total financing of over 400 billion yuan.

February of this year, Jingdong Health (6618.HK), Ali Health (0241.HK), Ping good doctor (1833.HK) share price hit a record high. Micro Medical, jingle fast medicine, science and technology krypton zero gearing up, ready to run admission.

However, the good times just like a tornado, disappear too fast.

From the beginning of March, Internet medical sector market nosedive. Beginning to drew to a close, the stock had fallen by Qi Cheng Ping good doctor, health Jingdong Liu Cheng fell, more than unicorn it is down in front of the Stock Exchange.

In 2014, the medical Internet to \”subvert medical care\” attitude turned out, this year happens to be \”The Seven Year Itch.\” During the year, the total market value of the Internet Big Three medical evaporated 700 billion yuan.

winter, do medical Internet \”spring\” farther yet?


As early as a few years ago, Ma asserted:. \”China’s next richest man, certainly in great health field.\”

Qiang East said: \”The access to the wellness this thing, do not grasp how much we do, but this thing done, equivalent to a recycling Jingdong. \”

By December 2020, Jingdong health listed in Hong Kong, the share price soaring day after day, month internal market capitalization than double, to break HK $ 600 billion, with the desire of leading pharmaceutical A share Hengrui medicine (600276.SH) par.

Large Hadron on a public outlet to let little brother envy. Since

in 2021, crossing the Medical Technology (2158.HK), NMT Medical (2192.HK) Hong Kong has gong, micro-medicine, health jingle, Zhiyun health and health were thinking big catch .

April 1, micro doctors submitted to the HKEx prospectus; June 22, jingle jingle healthy parent drug fast submit the prospectus; August 6, 27, were thinking health, wisdom clouds have health delivery table; October 15, the center of science and technology is not far behind ……

overnight, the Internet healthcare enterprises station forefront capital, the strength of the \”players\” have to sprint the IPO.

\”Jingdong IPO valuation of the healthy lifted up, everyone followed the market.\” One investor said. Business valuation high, investors can withdraw at best window period can be said to be a win-win.

However, for this wave of market boomIt can only be said to be \”someone is happy.\”

In September, Coria Medical Listed Application was hit \”failure\” label; October, micro-medical IPO status varies to \”failure\”; other Internet medical enterprises such as round technologies are slow, still hoped reply.

The prospectus of opening the unicorn will find that many Internet medical companies have profitable.

Taking the center technology as an example, after the 2015 round technology to set the Internet medical express, 11 rounds of financing were obtained in 6 years, and the valuation raised from 100 million yuan to nearly 30 billion yuan.

With capital blessings, companies began to burn money to occupy the market.

2018-2020, the net loss of the center technology is 120 million yuan, 200 million yuan, 360 million yuan. From January to August this year, the walked technology loss is nearly one step, and the net loss is 460 million yuan. Three and a half years, the roundness of the center is 11 billion.

More than a round technology. In the past three years, Zero Yan Technology has a total of exceeding 1 billion yuan; thinking of health is 3452 billion yuan; Zhiyun’s health loss is 45 billion yuan; the health is more than 2 billion yuan …

burning The amount of money is not inferior to online education.

The interpretation of various companies is not hidden: the company is still expanding, and it is necessary to actively expand the market.

Whitewashing Many companies have not found a profit model of the path. The main business is difficult to hematopoietic, and the expansion needs to continue to invest, and the listing is the only way out.

Known is difficult!

The loss is not to say that the little brothers have the same heart as the big stronge, but they have not transported the same as the big son. When Jingdong is healthy and listed, the Internet medical sector is a high-gloss time. But waiting for them IPO, the plate is turning down.

Internet medical \”three giants\” stock prices have fallen to a family than a family. From February this year, in 10 months, the three giant market values \u200b\u200bwere taken from 70 billion yuan.

As of December 24, Ali Health Market value of HK $ 8.83 billion, Ping An HK a doctor HK $ 32.2 billion, Jingdong Health HK $ 19.6 billion.


Each Internet medical company has dreamed of taking a wave in the tide, but it seems to be in addition to selling medicine. There is no wave in this sea. .

From the perspective of the center technology, there are mainly foreign comprehensive patient services, supply-to-end communication services and innovative medical health services three major business lines. Foreign comprehensive patient service is a part of retail medicines, medical services, and medicines wholesale.

In the past three years, the revenue of the comprehensive patient service of the All-round Science and Technology Hospital has accounted for more than 90% of the total revenue. In other words, most of the revenue from \”selling medicine\” in other words.

This is also the case. In June this year, the zero-Japanese technology plans to go to the United States, but the IPO is urgently suspended in July.

Question pointed out that the number of zero-intensive technology revenue structures and \”medical big data\” is not very matched. In the past three years, the sales income of their drugs and health products accounted for 80% of total revenues.

Similarly, thinking health drug sales revenue also accounts for more than 90% of the total revenue.

Many Internet Medical companies are covered with \”medical technology\” coat, but it is still \”selling medicine people\” in nature.

On November 24th, Ali Health released the 20022 FYSIA. Data show that as of September 30, 2021, Ali Health achieved $ 9.36 billion, an increase of 30.7% year-on-year. Among them, the medical e-commerce platform income is 9.13 billion yuan, accounting for 97.5% of the total revenue.

Jingdong Health In the first half of 2021, the total income of 1.364 billion yuan. Among them, the sales of medical and health products have created 11.8 billion yuan, accounting for 87% of total revenues.

The Ping An doctor has brought more than 1.9 billion yuan in the first half of the drug online mall, which also accounted for half of the total income.

The so-called \”three giants of Internet medical treatment\”, but it is just three pharmaceutical e-commerce wearing white coats.

The most successful Jingdong Health of \”Selling Medicine\” has been questioned: a company who rely on sale, why do you value 348 billion?

Jingdong Health CEO Xinli army said, \”I never taboo someone to say that we can make money by selling medicine, doing Internet medical companies in China, not selling money.\”

\”Sell Medicine, is currently the recent and most optional way in Internet medical treatment, Dingliang doctor, Baidu health degrade, but ultimately rely on the sale of drugs, simple consultation income frequency and unit price are too low, insufficient To support the current development. Internet medical does not have a series of traditional medical challenges such as deep diagnosis, inspection, treatment such as line hospital, so severely rely on the sale of medicine. \”A analyst called.

In November this year, the state released the signal of \”Let’s return to the medical nature of the Internet to make a lot of Internet medical companies who have lived on sale.

\”About Internet Media Regulations (Draft for Comment)\” pointed out that Internet diagnosis and drug sales are \”isolated\”, doctors should be real-name certification, AI software, etc. …

At the beginning of the birth of Internet Medical, each family hit the banner of \”mitigating the tight resources, solving the disease,\” is emphasizing that it is medical service. But I took 20 years, and most Internet medical companies are still doing drugs.

In fact, the value of medical services in Internet medical services is not lower than that of medical retail.

The micronear does not sell medicine for a living, mainly innovative medical services. The Ding Ziyuan said that it will not touch medical e-commerce, and its online clinic is handed over to third-party companies.

Improper \”Medicine God\” When \”medical god\”, the micro doctor did not rely on the sale, and 2020 was 1932 million yuan, an increase of 262%. In 2018-2020, the revenue composite growth rate was as high as 168%.

The key is to see who will take advantage of quality profit model.


There is a line in \”Lion King\”: \”Where the sun is shining, it is my territory.\” With this sentence to describe BATs and then appropriate.

The Internet medical is really fired is 2014. There have been investors to count a bill, and the total number of financing is nearly 200 billion yuan, of which a large part is from BAT.

As long as it is a track on the wind, BAT will not be absent.

Ning Ke is wrong, never missed. In the \”Hunting\” Internet Medical Unicorn, there is no investment institution to compare with Tencent.

Tencent investment rely on all the way to sprinkle the money, buy the half-Wanjiang Mountain, which is the Internet medical.

The medical technology and Tencent’s share of the shares were 2.73% in January this year; the medical fans listed in July, Tencent is one of the cornerstone investors; Tencent, the Western Health equity accounts for 27.14%.

I plan to list the micro-medical, round technology, and have not yet passed the listing plan, the medical wishes, etc., there are Tencent’s figure.

If these unicorns have been successfully launched, Tencent will undoubtedly be the biggest winner.

Ali is also a lot in terms of Internet medical.

In 2014, Ali’s approach to the share and acquisition of the Internet medical treatment. After the establishment of Ali, Ali has sold many large health related industrial companies, and the medical examination institutions Iron Guobin, the American health, etc.

Baidu’s medical story is the most strict.

In 2010, cooperation with good doctor online, launching the medical intelligent consultation platform, Baidu Health, Baidu Health Cloud and other products. In 2015, Baidu Medical Division was established. Later, \”Wei Zhi West Event\”, Baidu suffered heavy.

The medical health industry is a fragrant, and Robin Li will not know. At the beginning of medical advertisement, many Internet companies were raised. Despite Baidu, the Medical Division was abolished in 2017. But very quickly, Baidu will come back to the health of Ai.

On June 15 this year, Baidu voted the medicine e-commerce pharmacist. Industry insiders believe that this is Baidu from AI medical to medical equipment, and then the Internet medical platform-based company is layout one by one.

Liu Qiangdong, Zhang Yiming, Wang Xing calculates the \”Shou\” on the Internet Medical Condition.

2In May 2001, Jingdong Health was independent from the Jingdong Group. At present, the market value of 200 billion Hong Kong dollars is 2 times that of Ali’s health market.

In the education track, the byte beating \”big retreat\” is active, and it has also taken a large health field to invociate a large health field.

In September this year, byte beating has been a good mood, the United States, III, I Rui Mi, and the three are a psychological, maternity and tumor. In January earlier, byte beating strategy investment pine cones.

The byte beats in 2020, only to enter the health field, first-selling 500 million yuan, wholly-owned acquisition of medical science knowledge platform encyclopedia, and acquired the medical company 零 四 科技.

However, interest is, 零 贰 四 科技 is pointed to Wu Haifeng after the peak medical treatment. This is an old will serve in Baidu for 17 years.

Focus on the US group of local life services, nor free. In January 2021, the US group launched \”Baishou Health Network\”. This is also the integrated medical platform of the US group layout after the health services such as medical beauty, buy medicine, medical care.

Most of the spells are also tested in medical edges. Place the \”Medicine Pavilion\” at the home level of the entrance center position, providing the HPV vaccine group purchase service, the United Valid gene on line nucleic acid testing business, and provides some basic drug retail services …

If you ask the most important thing for the Internet in the Internet in the Internet, I am afraid it is a big name to announce the unloading, and I have rushing to the stars of life science.

From the Internet of the Internet, the layout of the network medical field is not allowed to stay in orally with the intake of indiscrimination of life in the early years, but have already put into practice.

Following the financial resources of the big factory, different from the character, micro-medical, medical, good doctor online, spring rain doctor, etc. also stick to their initial heart.

Just like Wang Yu, the Chun Yu, CEO, said in the low-frequency track in medical care, every family occupies a piece of islands in the sea and evolved towards the business paths of their respective.

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