Guiyang investment firm buys into exciting AI medical group

Guiyang Industrial and Commercial Industry Investment Group Co – an affiliate company of the Guiyang State-owned assets supervision and administration commission – on Jan 15 invested 70.51 million yuan ($10 million) to buy over 4 million shares issued by leading medical artificial intelligence company Yidu Technology Co, Ltd.

In so doing, the investment firm – based in Guiyang, capital of Southwest China's Guizhou province – was getting exposure to an exciting, dynamic and high-tech field of endeavor.

Yidu Technology was officially listed on the main board of the Hong Kong Stock Exchange on Jan 15, with its opening share price soaring on the day to give it a market capitalization of over $67 billion at the end of trading.

Founded in 2014, Yidu Technology says it provides medical solutions based on artificial intelligence and big data technology to major participants in the medical industry – including hospitals, pharmaceuticals, biotechnology and medical equipment companies, research institutions, insurance companies, doctors and patients, as well as regulators and policy makers.

Its self-developed intelligent search engine, YiduCore, forms a large-scale medical database equipped with comprehensive statistics from all over the world.

With the successful flotation of Yidu Technology – which experienced a 148 percent rise in its share price on the first day of trading – Guiyang immediately achieved a 215 percent increase in its investment.

Moving forwards, Guiyang will continue to boost its investments in artificial intelligence and preserve and increase its State-owned assets.