This article only represents the author's own views.
Chinese companies have generally rebounded since Beijing scrapped its “zero Covid” policy at the end of last year, ending punishing control measures that were wreaking havoc on business. But medical big data specialist Yidu Tech Inc. (2158.HK) is defying that rule with an accelerating business slump after its revenue started contracting earlier last year.
The company, whose software solutions are used by medical institutions for functions like assisting in disease diagnosis and drug development, saw its revenue tumble by 55% to 330 million yuan ($46 million) in the six months through March, accelerating from a 5.5% decline for the previous six-month period through last September, according to calculations using its latest annual report released last Friday and previous interim report.