February 9, 2023

Yaoshibang, a Chinese language pharmaceutical distribution platform, submitted an software on Tuesday for a public record to the Hong Kong Inventory Trade (HKEx), with Goldman Sachs and CICC named as co-sponsors.

In keeping with the company’s prospectus, Yaoshibang used to be established in 2015, and bought the license for a web based drug buying and selling carrier platform issued via China’s Nationwide Scientific Merchandise Management in 2016.

Yaoshibang claims that its challenge is to construct a more secure and extra environment friendly buying and selling and services and products platform for the pharmaceutical business. In its prospectus, it quoted Frost & Sullivan’s file, pronouncing that its gross products quantity (GMV) reached 27.5 billion yuan ($4.1 billion) in 2021, with a compound annual expansion charge of 42.9% since 2019. Each stats ranked first amongst China’s non-hospital virtual pharmaceutical carrier platforms.

The source of revenue of Yaoshibang in 2019, 2020 and 2021 totaled 3.25 billion yuan, 6.06 billion yuan and 10.09 billion yuan respectively, whilst gross benefit in the similar length used to be 228.9 million yuan, 608.8 million yuan and 913.8 million yuan respectively. As well as, its web loss in previous 3 years used to be 1.0455 billion yuan, 571.7 million yuan, and 501.6 million yuan respectively.

As of December 31, 2021, Yaoshibang had attracted about 4,700 traders and about 434,000 patrons to business on its platform. In 2021, the GMV of third-party traders at the platform used to be 17 billion yuan, accounting for approximately 61.9% general.

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Prior to filing this record software, Yaoshibang had bought a number of rounds of financing value about $460 million, with buyers together with Baidu, Sunshine Insurance coverage, Fosun Pharma, Shunwei Capital, and extra. In particular, Baidu and Sunshine Insurance coverage participated within the company’s E2 spherical of financing totaling $85.2 million in April 2022. The price range raised from the Hong Kong IPO can be used to additional construct a virtual platform for medication, broaden leading edge trade and put money into analysis and building of giant knowledge and AI.