The dividend of the medical model was realized at an accelerated pace, and the Harness architecture enabled the mid-term revenue of iFLYX Healthcare (02506) increased 49.4% year-on-year

The Zhitong Finance App learned that on August 18, iFLYTEK Healthcare (02506) announced its 2026 interim results and achieved revenue of 446 million yuan in the first half of the year, an increase of 49.4% over the previous year. At the same time as revenue increased, profit quality increased simultaneously. The gross profit scale was 236 million yuan, a year-on-year growth rate of 53.5%, which is 4.1 percentage points faster than revenue, and the comprehensive gross margin rose to 52.9%.

Behind the growth in performance, the big medical model business model made a key breakthrough. The company uses the Spark Medical model as the foundation, superimposes the self-developed Harness engineering architecture, and can achieve standardized arrangement of full-link medical services without changing the model weight, providing industrialization capability support for large-scale implementation in multiple scenarios, and promoting the upgrading of AI capabilities from single-point tools to platform-based services. The business model is rapidly shifting from one-time project delivery to platform operation.

Imaging clouds and post-diagnosis patient management have become the core growth poles for commercialization of large models. After the operation of the Anhui project, physical film usage decreased by 90%, saving about 2 billion yuan in medical insurance costs per year; the Guangxi project achieved full coverage of level II hospitals that met the standards in 90 days. Relying on large model multi-modal mapping capabilities, the company further laid out a pan-imaging cloud, expanded its business boundaries from traditional radiography to full medical technical examination, and built an integrated medical technology data platform covering testing, pathology, ECG, and ultrasound. In terms of patient management after AI diagnosis, the number of fully serviced patients continues to rise, the conversion rate of paying users remains at a high level, the operating business continues to expand, and ARR has sufficient momentum for growth.

Facing the “15th Five-Year Plan”, the combination of multiple policy dividends for primary care construction, hospital digitalization, medical insurance fee control, and domestic AI autonomy and control, the company is expected to continue to achieve performance growth with the technical advantages of large models and proven business models.