Since the beginning of 2014, the Internet companies headed by BAT, and PEs and VCs from all walks of life have been eager to bet on Internet medical health, and completed 31 financings including Clove Garden and Good Doctor. Recently, the popularity of Internet medical care has penetrated into the secondary market by the primary market, and the stock prices of related stocks have reached new highs. Event review The medical reform and the New Deal are multi-integrated, and Internet medical care is in full swing. Under the catalysis of the new medical reform policy of medicine separation, online sales of prescription drugs, doctors' multi-point practice, and promotion of commercial insurance development, the bottlenecks of space and management faced by the traditional medical market are constantly being broken, and the monopoly will be market-oriented. The expansion of medical care to the three medical linkages, and the significance of the Internet to the medical industry is to fill the gaps in the past outreach services, ease the imbalance between supply and demand of medical resources, and activate the C-tail long tail market. There are two types of participants in China's Internet medical care, namely, Internet business layout medical and medical enterprises transforming the Internet, and pushing Internet medical care on the cusp. We believe that Internet medical care has different attributes from the ordinary consumer Internet. Patients do not have sufficient autonomy in visiting, clearing, taking drugs, etc., which determines that the hospital will still occupy the dominant position in the Internet medical market. Enterprises with deep medical resources and active transformation of the Internet will usher in an excellent opportunity to make great achievements! Wanda Information is led by the government and creates a closed-loop pattern of “three medical linkages + O2O healthâ€, which is highly recommended. Since the acquisition of Shanghai Fugao in July this year, Wanda Information has acquired Ningbo Jintang, established Zhejiang Province full-process medical insurance control fee system, won the bid for Shanghai Pharmaceutical Purchasing and Supervision System, and married China Telecom to promote medical health cloud application and other heavy-weight actions. The medical health business accounts for half of the company's business. Its specific layout is as follows: 1. Medical business, regional and public medical and health market share is the first in the country, and the hospital informationization and community medical informationization are improved, and healthy cloud applications are built; The medical insurance business, based on the accumulation of social security in the past 20 years, has the strength to undertake the construction of provincial-level super-large medical insurance control fees; 3, the pharmaceutical business is also to build a procurement platform for the government, to open the gate for prescription drugs; 4, the whole process of healthy physical clinics High-end route, Nuggets personal health management new blue ocean. Weining Software has taken the market-oriented route, and the Internet medical business has entered an accelerated period, which is highly recommended. With a productization and endogenous extension strategy, Weining quickly accumulated 1600 hospital resources and occupied the core base of Internet medical treatment. It has unique card advantages in doctors, patients, electronic prescriptions, drugs and clinical data. With the support of 1 billion yuan, Weining's medical informationization layout will be transferred from software to a new Internet model, such as medical cloud online application, chronic disease management platform, insurance claims platform, drug welfare cloud prescription drug platform, etc. In view of this, Weining’s current market value of 15 billion is far from reaching the bottleneck. Weining Software: Using the Internet Mode to Sword the Three Doctors Linkage Weining Software 300253 Research Institute: Changjiang Securities Analyst: Ma Xianwen Date of Composing: 2014-12-16 Medical Informatization: High Continuation, Internet Mode Opens New Space We believe that the market space of China's medical IT industry can still be seen farther, and its underlying driving force is threefold: 1. Medical IT is continuously deepened from HIS management to CIS clinical application; 2. Medical and medical insurance, medicine will be deeply integrated. Horizontal expansion of the industry; 3, mobile Internet is good at C-end long tail service, O2O, wearable devices will detonate the personal health management market, is a new growth point in the industry. Endogenous epitaxy accelerates the accumulation of hospital resources and builds momentum for Internet healthcare Weining firmly grasps the hospital's core medical and health base, and integrates endogenous methods such as baseline products with up to 80% standardization and 18 marketing centers with flexible R&D, and mergers and acquisitions of Shanxi Express and Yuxin Netscape. At the pace, the rapid accumulation of 1,600 hospital resources, the non-Shanghai market revenue share increased to 66%, the three rates continue to decline, in order to carry out Internet medical business savings. Using the Internet model to illuminate the three doctors, the tens of billions of new markets The new medical reform pushes the integration of medical care, medical insurance and medicine. We believe that the hospital is the main camp of the three doctors. Wei Ning is based on hospital resources and has unique card advantages in doctors, patients, electronic prescriptions, drugs and clinical knowledge bases. Helping the three doctors to combine the combination of punching and punching: medical extension to the C-terminal chronic disease control, building a platform to integrate hospitals, patients, and drug dealers; medical insurance and government and insurance companies to pay for the two majors, open HIS and medical insurance rules system, control fees, claims One step in place; medicines to master electronic prescriptions with HIS, introduce patients with drug welfare cloud, and cooperate with drug dealers to achieve distribution, Nuggets trillion prescription drugs new blue sea. Maintain "Recommended" rating We believe that the continuation of medical IT and the new Internet medical business will open up new growth space for Weining and drive up the performance and valuation. The EPS of 2014-2016 is expected to be 0.63 yuan, 0.98 yuan, 1.38 yuan, respectively, corresponding to PE, 112, 72, 52 times, maintaining a "strongly recommended" rating! Wanda Information: Join hands with China Telecom to accelerate the creation of a medical O2O ecosystem Wanda Information 300168 Research institute: Anxin Securities analyst: Hu Youwen Date of writing: 2014-12-08 Event: On December 4th, the company announced a strategic cooperation with China Telecom, and the two parties will cooperate to launch Internet online public services and mobile Internet public service products. Comments: Join forces to build a smart healthcare ecosystem. According to the announcement, the two sides will cooperate fully in smart health care, full-course health O2O and other people's livelihood services. In this cooperation, the company will be the leader of business applications, the undertaker of system operation services and the integrator of business resources. China Telecom Shanghai Corporation is the leader of intelligent pipelines, the provider of integrated platforms, and the participants of content and applications. China Telecom Shanghai Company promised to introduce the company's service items into the telecom service product catalogue to promote customers and promote their products to corporate and individual customers. Further expand the leading edge of the smart healthcare business. In May of this year, China Telecom's medical industry information application (Shanghai) base landed, and plans to build Shanghai into the country's largest medical information service and health service base. As an important industry partner, the company will share its resources in the medical information market. The company is expected to further expand its advantages in the field of smart healthcare through joint operations and other models. Fully support the whole process of healthy marketing. The company's full-scale health plan adopts the O2O model, which innovatively provides a real-time monitoring and communication bridge for chronically ill patients, community general practitioners and hospitals. At present, the entire platform has been basically completed, online through network hospitals and doctors and hospitals. Docking, the offline full-service health clinic has started trial operation, and the development of the C-end market after the official launch of the APP will be the focus of the next step. With China Telecom's strong online application distribution capabilities and the breadth of offline sales, the company's full health plan will accelerate. The whole process of health is an important support for the company to develop medical e-commerce. The Shanghai Pharmaceutical Purchasing Supply Chain Platform established by the company will realize the comprehensive docking of pharmaceutical production and distribution enterprises, hospitals and medical insurance. The whole health plan is expected to be connected with the platform in the future. Whether it is APP or WEB, electronic prescription will become the first choice, laying the foundation for medical e-commerce. If we cooperate with the logistics companies, the company will realize the Internet from the appointment-medical treatment-prescription-distribution, completely subverting the traditional medical service model. Investment suggestion: The combination of China Telecom and China Telecom will accelerate the promotion of the company's full-process health plan and lay the foundation for the development of the pharmaceutical e-commerce platform. The company's original medical O2O closed-loop model, the enormous value it contains, is gradually being recognized by the market. We maintain our earnings forecasts of 0.44, 0.67 and 0.96 for 2014-2016, maintain the “Buy-A†rating and raise our target price to RMB 50. Risk warning: The new business is lower than the expected risk, and the fierce competition leads to the risk of falling profit margin. Liquid Bleach,Laundry Detergent Stain Removal,Stain Removal Bleach,Laundry Detergent Bleach Wuxi Keni Daily Cosmetics Co.,Ltd , https://www.kenicosmetics.com