Who We Are
We are an experienced pharmaceutical and healthcare product wholesaler and a leading digital healthcare integrated service provider in China. We provide customers with a wide selection of pharmaceutical and healthcare products, as well as comprehensive digital healthcare and wellness solutions. We offer a wide assortment of high-quality pharmaceutical and healthcare products under both wholesale and retail models, to address a spectrum of customer needs. In addition, through our online healthcare and wellness service platform, Healthcare 160 Platform, we also provide digital healthcare and wellness solutions, empowering each Platform Participants, primarily including business customers, medical and healthcare institutions, medical professionals, individual users, and third-party merchants, throughout the healthcare value chain and driving the digital transformation of China’s healthcare and wellness industry.
We provide pharmaceutical and healthcare products to business customers, including regional pharmaceutical trading companies, medical and healthcare institutions, and other pharmaceutical sales platforms, under wholesale model and individual users under retail model. Leveraging our robust supply chain resources and strong order fulfillment capabilities, we identify stable and high-quality suppliers to meet our customers’ specific needs and offer efficient product delivery, generating substantial revenue from product sales. During the Track Record Period, our pharmaceutical and healthcare product sales, particularly through our wholesale model, made a substantial contribution to our revenue, consistently positioning it as the primary revenue stream for us. Revenue generated from sale of pharmaceutical and healthcare products constituted 73.2%, 71.7%, 68.7%, 66.6% and 66.9% of our total revenue in 2022, 2023 and 2024 and for the three months ended March 31, 2024 and 2025, respectively, among which, revenue generated from wholesale of pharmaceutical and healthcare products contributed 57.8%, 66.1%, 64.9%, 59.8% and 64.3% of our total revenue during the same periods.
In providing digital healthcare and wellness solutions, we have developed Healthcare 160 Platform, a service platform that integrates healthcare and wellness services through online and offline channels, effectively connecting medical and healthcare institutions, medical professionals, and individual users. Our platform provides a diverse array of healthcare and wellness services, encompassing both essential medical care and consumer healthcare services.
We employ an effective monetization strategy for our digital healthcare and wellness solutions to generate revenue from various Platform Participants, thereby constituting an important revenue stream for us. Revenue generated from our digital healthcare and wellness solutions constituted 26.8%, 28.3%, 31.3%, 33.4% and 33.1% of our total revenue in 2022, 2023 and 2024 and for the three months ended March 31, 2024 and 2025, respectively. According to Frost & Sullivan, we were the largest digital healthcare and wellness service platform in the digital healthcare integrated service industry in China in 2024, in terms of (i) the number of appointments made through the platform in 2024, (ii) the number of cooperated hospitals as of December 31, 2024, (iii) the number of cooperated Class III hospitals as of December 31, 2024, and (iv) the number of medical professionals connected to the platform as of December 31, 2024.
Our technology-driven healthcare and wellness service platform provides integrated support to Platform Participants and creates benefits across different areas of our operations.
Business customers procure pharmaceutical and healthcare products from us, assured by our commitment to timely delivery, complemented by responsive after-sales support. For medical and healthcare institutions, we provide tailored solutions to digitize their operations, improve their operating efficiency and enhance their brand visibility. Medical professionals benefit from our established online practice platform, supporting online healthcare services, patient management, and personal brand promotion. Individual users have easy access to online healthcare services as well as pharmaceutical and healthcare products through our online healthcare and wellness service portal. Our wide-ranging product and service offerings cover from pre-consultation to post-treatment stages, providing both essential medical care and consumer healthcare services to meet diverse needs of individual users. In addition to our services and products for key Platform Participants, we also operate an online marketplace for third-party merchants.
Each business line contributes to the overall development of our platform and supports our growth in its respective area. In the realm of our digital healthcare and wellness solutions, online marketing solutions, together with digital hospital solutions, play a pivotal role in augmenting the platform’s medical resources, which in turn bolster the medical resources for online healthcare services. The growth of our online healthcare services also broadens user engagement on our platform and enhances overall service utilization, supporting the development of our retail of pharmaceutical and healthcare products. Meanwhile, our wholesale model expands and fortifies our supply chain, which enhances our bargaining power with upstream suppliers and contributes to the diversification of our revenue streams.
Our origins in Shenzhen have laid a solid foundation for our success in this region and its surrounding areas. We have firmly established a notable leadership position within Shenzhen’s digital healthcare integrated service industry, as demonstrated by our robust relationships with local medical and healthcare institutions and professionals. Building upon this success, we have created a digital healthcare and wellness service platform that provides individual users with a wide range of reliable online healthcare services at any time and from anywhere, surpassing the limitations of time and location commonly associated with offline healthcare services. Through our platform, we had extended our service outreach to over 260 cities across China as of March 31, 2025.
We consider the medical resources available on our platform to be the cornerstone of our business. To diversify these resources, we collaborate with well-regarded general and specialty medical and healthcare institutions, as well as highly skilled medical professionals.
Additionally, we strive to expand our coverage of local medical resources to enhance our localized services. To reinforce our medical resources, we have established 11 regional operation centers in key regions such as Shenzhen, Beijing, Shanghai, and Guangzhou. Our geographical footprints in these regions afford customers seamless access to our broad array of product and service offerings and contribute to a thorough healthcare experience for them. The enhanced user recognition in turn attracts new local medical resources to our platform.
Our Business Highlights
As of March 31, 2025, our platform had connected with over 44,600 medical and healthcare institutions cumulatively since our inception, which comprised over 14,400 hospitals (including 3,430 Class III hospitals) and over 30,200 primary healthcare institutions.
As of the same date, among our collaborating medical and healthcare institutions, there were over 6,800 private institutions primarily providing consumer healthcare services on our platform, such as dental, ophthalmology, and physical examination services.
As of the same date, we had established cooperative relationships with over 902,300 medical professionals cumulatively since our inception, which included approximately 46,200 registered physicians. Concurrently, our platform boasts an substantial user base, with 55.2 million registered individual users as of March 31, 2025. In addition, our platform recorded average MAUs of 3.3 million for the three months ended March 31, 2025.
Furthermore, the accumulation of over 5.6 million user reviews underscores the thriving user engagement and dynamic interaction observed on our platform. This multifaceted spectrum of connections and interactions reflects the robustness of our platform’s healthcare service network.
Source: 160 Health (02656) Prospectus (IPO Date : 2025/09/09) |