Mr. Zhenyang Shi, Chairman and Chief Executive Officer of Pomdoctor, commented: "The first half of fiscal year 2025 reflected our deliberate and disciplined efforts to balance business expansion with operational rigor. Despite a challenging macroeconomic environment and intensified market competition, we strived to strengthen our market coverage and penetration, while optimizing and diversifying our revenue streams through the vigorous promotion of our internet-hospital services and online sales. During the period, we continued to solidify our partner-doctor pool by offering higher service fees, and at the same time meaningfully enhanced our collaboration with pharmaceutical manufacturers to drive online sales and adapt to China's evolving healthcare landscape. These initiatives resulted in a 16.2% increase in net revenue, highlighted by growth of 83.2% in our online-pharmacy businesses.
At the same time, we maintained strict cost controls and operational discipline, sustaining a stable gross profit margin of 16.2%. Gross profit increased 16.3% year over year, despite higher sales and marketing expenses, a larger contribution from lower-margin pharmacy products, and continued investments in customer acquisition. We prioritized retaining doctor resources while prudently reducing advertising spending, reinforcing the foundation for sustainable growth under a stable pharmaceutical supply chain.
Notably, our successful initial public offering (IPO) in October provided us with additional capital resources and expanded opportunities for future growth, further enriching our strategic options and strengthening our execution capabilities. Looking ahead, we are confident in our ability to continue improving operational performance and creating long-term value for our shareholders."
First Half of Fiscal 2025 Financial Summary
Net revenues for the six months ended June 30, 2025 were RMB174.5 million (US$24.4 million), representing a 16.2% increase from RMB150.2 million in the six months ended June 30, 2024.
Gross profit increased by 16.3% from RMB24.3 million in the six months ended June 30, 2024, to RMB28.3 million (US$4.0 million) in the six months ended June 30, 2025.
Gross profit margin remained stable at 16.2% in the six months ended June 30, 2024 and 2025.
Net loss was RMB19.9 million (US$2.8 million) for the six months ended June 30, 2025, compared with RMB14.0 million for the six months ended June 30, 2024.
Net loss per share, basic and diluted, was RMB11.45 (US$1.60) for the six months ended June 30, 2025, compared with RMB10.58 for the six months ended June 30, 2024.
Unaudited Financial Results for the First Half of Fiscal 2025
Net revenues for the six months ended June 30, 2025 were RMB174.5 million (US$24.4 million), representing a 16.2% increase from RMB150.2 million in the six months ended June 30, 2024, which was primarily attributable to the increase in the net revenues from Internet hospital. Net revenues from Internet hospital increased by 82.4% from RMB36.8 million in the six months ended June 30, 2024 to RMB67.2 million (US$9.4 million) in the six months ended June 30, 2025, primarily attributable to the increase in revenues generated from online pharmacy sales. In the first half of 2025, the Company strengthened its cooperation with pharmaceutical manufacturers to sell their products through its Internet hospital platform. As a result, revenue from the Company's online pharmacy sales increased from RMB36.3 million in the six months ended June 30, 2024 to RMB66.4 million (US$9.3 million) in the six months ended June 30, 2025.
Cost of revenues increased by 16.2% from RMB125.8 million in the six months ended June 30, 2024 to RMB146.2 million (US$20.4 million) in the six months ended June 30, 2025, primarily due to the increase in cost of revenues in online pharmacy sales from RMB20.4 million in the six months ended June 30, 2024 to RMB40.0 million (US$5.6 million) in the six months ended June 30, 2025, which was in line with the increase in the Company's net revenues from Internet hospital.
Gross profit increased by 16.3% from RMB24.3 million for the six months ended June 30, 2024, to RMB28.3 million (US$4.0 million) in the six months ended June 30, 2025.
Gross profit margin remained stable at 16.2% in the six months ended June 30, 2024 and 2025. The gross profit margin of the Company's Internet hospital decreased from 44.7% in the six months ended June 30, 2024 to 40.5% in the six months ended June 30, 2025, mainly due to the increase in the online pharmacy sales of products with lower gross profit margin. The gross profit margin of the Company's pharmaceutical supply chain business decreased from 6.9% in the six months ended June 30, 2024 to 1.1% in the six months ended June 30, 2025, which was primarily because the gross profit margin of the Company's pharmacy wholesale customers newly acquired in the six months ended June 30, 2024 was higher than that of customers in the six months ended June 30, 2025.
Sales and marketing expenses increased by 11.6% from RMB24.9 million in the six months ended June 30, 2024 to RMB27.8 million (US$3.9 million) in the six months ended June 30, 2025, primarily due to higher service fees to doctors and increased staff costs in line with the growth in revenues from Internet hospital business, partially offset by a slight decrease in advertising and promotion costs resulting from a relatively stable pharmaceutical supply chain business.
General and administrative expenses increased by 53.5% from RMB6.8 million in the six months ended June 30, 2024 to RMB10.5 million (US$1.5 million) in the six months ended June 30, 2025, primarily due to the increase in consultancy and professional service fees incurred in connection with the Company's initial public offering, partially offset by the decrease in expected credit loss recognized resulting from the efforts for collection of receivables.
Research and development expense remained relatively stable at RMB1.5 million (US$0.2 million) for the six months ended June 30, 2024 and 2025.
Impairment loss on long-lived assets recorded was RMB0.02 million and RMB2.0 million (US$0.3 million) for the six months ended June 30, 2024 and 2025, respectively.
Loss from operation was RMB13.5 million (US$1.9 million) for the six months ended June 30, 2025, compared with RMB8.9 million for the six months ended June 30, 2024.
Net loss was RMB19.9 million (US$2.8 million) for the six months ended June 30, 2025, compared with RMB RMB14.0 million for the six months ended June 30, 2024.
Net loss per share, basic and diluted, was RMB11.45 (US$1.60) for the six months ended June 30, 2025, compared with RMB10.58 for the six months ended June 30, 2024.
Financial Condition
Cash and cash equivalents of RMB5.7 million (US$0.8 million) as of June 30, 2025, compared to RMB7.7 million as of December 31, 2024.
Net cash used in operating activities was RMB15.0 million (US$2.1 million) for the six months ended June 30, 2025, compared with RMB10.6 million for the six months ended June 30, 2024.
Net cash used in investing activities was RMB512,200 (US$71,500) for the six months ended June 30, 2025, compared with RMB17,862 for the six months ended June 30, 2024.
Net cash provided by financing activities was RMB13.6 million (US$1.9 million) for the six months ended June 30, 2025, compared with RMB16.6 million for the six months ended June 30, 2024.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on June 30, 2025.
Recent Development
On October 9, 2025, the Company completed its initial public offering (the "Offering") of 5,000,004 American Depositary Shares ("ADSs") at a public offering price of US$4.00 per ADS. On October 10, 2025, the underwriter of the Offering fully exercised its over-allotment option to purchase an additional 750,000 American Depositary Shares of the Company at the public offering price of US$4.00 per share. The gross proceeds were US$23,000,016 from the Offering, before deducting underwriting discounts and commissions, and other expenses. The Company's ADSs began trading on the Nasdaq Global Market on October 8, 2025 under the ticker symbol "POM."
About POMDOCTOR LIMITED
POMDOCTOR LIMITED is a leading online medical services platform for chronic diseases in China, ranking sixth on China's Internet hospital market based on the number of contracted doctors in 2022, according to Frost & Sullivan. Focusing on chronic disease management and pharmaceutical services, the Company offers a one-stop platform for medical services, organically connecting patients with doctors and pharmaceutical products. The Company's operations primarily include Internet hospital and pharmaceutical supply chain, connecting users, pharmacies, suppliers, medical professionals, and other healthcare participants. Through this model, POMDOCTOR aims to enhance the efficiency and transparency of the healthcare value chain. The Company's mission is to provide effective prevention and treatment solutions to alleviate patients' sufferings from illnesses. Its vision is to become the most trustworthy medical and healthcare services platform. For more information, please visit the Company's website: http://ir.7shiliu.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC.
For more information, please contact:
POMDOCTOR LIMITEDInvestor Relations DepartmentEmail:
Ascent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email:
POMDOCTOR LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
December 31, 2024
June 30, 2025
June 30, 2025
RMB
RMB
US$
Assets
Current assets:
Cash and cash equivalents (including amounts of the consolidated VIEs of RMB7,596,708 and RMB5,579,802 (US$778,910) as of December 31, 2024 and June 30, 2025, respectively)
7,651,695
5,746,989
802,249
Accounts receivable, net (including amounts of the consolidated VIEs of RMB8,374,608 and RMB6,128,066 (US$855,445) as of December 31, 2024 and June 30, 2025, respectively)
8,374,608
6,128,066
855,445
Accounts receivable, a related party (including amounts of the consolidated VIEs of RMB424,259 and RMB584,802 (US$81,635) as of December 31, 2024 and June 30, 2025, respectively)
424,259
584,802
81,635
Amount due from related parties (including amounts of the consolidated VIEs of RMB6,070,945 and RMB9,643,039 (US$1,346,117) as of December 31, 2024 and June 30, 2025, respectively)
5,632,987
7,418,671
1,035,607
Inventories (including amounts of the consolidated VIEs of RMB9,165,973 and RMB6,447,637 (US$900,055) as of December 31, 2024 and June 30, 2025, respectively)
9,165,973
6,447,637
900,055
Other receivables, net (including amounts of the consolidated VIEs of RMB5,318,724 and RMB5,231,722 (US$730,319) as of December 31, 2024 and June 30, 2025, respectively)
5,318,724
5,231,722
730,319
Advances to suppliers (including amounts of the consolidated VIEs of RMB929,167 and RMB2,921,966 (US$407,891) as of December 31, 2024 and June 30, 2025, respectively)
929,167
2,921,966
407,891
Total current assets
37,497,413
34,479,853
4,813,201
Non-current assets:
Property and equipment, net (including amounts of the consolidated VIEs of RMB461,362 and RMB394,107 (US$55,015) as of December 31, 2024 and June 30, 2025, respectively)
461,362
394,107
55,015
Other non-current assets (including amounts of the consolidated VIEs of RMB831,132 and RMB1,307,832 (US$182,566) as of December 31, 2024 and June 30, 2025, respectively)
831,132
1,307,832
182,566
Deferred offering costs (including amounts of the consolidated VIEs of RMB7,437,679 and RMB6,007,339 (US$838,592) as of December 31, 2024 and June 30, 2025, respectively)
7,437,679
7,690,157
1,073,505
Total non-current assets
8,730,173
9,392,096
1,311,086
Total assets
46,227,586
43,871,949
6,124,287
POMDOCTOR LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS, (Continued)
December 31, 2024
June 30, 2025
June 30, 2025
RMB
RMB
US$
Liabilities
Current liabilities:
Accounts payable (including amounts of the consolidated VIEs of RMB25,320,486 and RMB25,164,804 (US$3,512,871) as of December 31, 2024 and June 30, 2025, respectively)
25,320,486
25,164,804
3,512,871
Accounts payable, a related party (including amounts of the consolidated VIEs of RMB25,891 and RMB13,711 (US$1,914) as of December 31, 2024 and June 30, 2025, respectively)
25,891
13,711
1,914
Short-term bank loans (including amounts of the consolidated VIEs of RMB34,958,333 and RMB34,708,333 (US$4,845,096) as of December 31, 2024 and June 30, 2025, respectively)
34,958,333
34,708,333
4,845,096
Long-term bank loans, current (including amounts of the consolidated VIEs of RMB300,000 and RMB2,400,000 (US$335,027) as of December 31, 2024 and June 30, 2025, respectively)
300,000
2,400,000
335,027
Long-term loans, current (including amounts of the consolidated VIEs of RMB10,000,000 and RMB10,000,000 (US$1,395,946) as of December 31, 2024 and June 30, 2025, respectively)
10,000,000
10,000,000
1,395,946
Long-term loans from third parties, current (including amounts of the consolidated VIEs of RMB2,320,082 and RMB2,295,082 (US$320,381) as of December 31, 2024 and June 30, 2025, respectively)
