On December 10, Gushengtang Holdings Limited (hereinafter referred to as "Gushengtang") was successfully listed on the main board of the Hong Kong Stock Exchange, becoming the first stock of the chain of Chinese medicine halls and Chinese medicine medical services.
At the remote bell ringing site, Tu Zhiliang, founder and chairman of the board of directors of Gushengtang, shared the entrepreneurial process and choked up several times when expressing gratitude to his family. He said in the listing open letter that the successful listing of Gushengtang in Hong Kong is the first step for Chinese medicine to go to the world at the capital level, and in the future, Gushengtang will help the high-quality development of Chinese medicine and industry, and promote Chinese medicine to the world. "At the beginning of the establishment of Gushengtang, there was a vision to make Chinese medicine the mainstream of medicine in the world."
With the scarcity attribute of "traditional Chinese medicine medical services", on the day of listing, Gushengtang - opened 15% after the opening of the market, becoming the new stock with the largest high opening in recent times. However, intraday stock prices began to decline, and all the gains were given back until they closed. Despite this, Gushengtang was still the only new stock among the three pharmaceutical stocks listed on the Hong Kong stock market that did not break on the same day.
Based on the current stock price, the market value of Gushengtang is 6.658 billion. After the listing ceremony, Tu Zhiliang was interviewed by Aoyi News and other media. He admitted that for patients, if the company is not listed, consumers will not care. Whether the doctor is good or not, the medicinal materials are not authentic, and the service is not good or not, is the fundamental.
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Gushengtang's users under the age of 45 account for more than 60%.
Aoyi News: What is the business model of Gushengtang? How to effectively solve the problem of medical treatment for the people?
Tu Zhiliang: Under the background of graded diagnosis and treatment of "major diseases do not leave the province, small diseases do not leave counties and cities", Gushengtang uses market-oriented mechanisms and means to invite chinese medicine masters and famous old Chinese medicine doctors to the grass-roots clinics at the doorstep of patients for initial diagnosis, which not only solves the last kilometer problem of the people's medical treatment, but also as a grass-roots Chinese medicine outpatient clinic, allows patients to enjoy a higher reimbursement ratio, and effectively solves the problem of "difficult to see a doctor and expensive to see a doctor".
Aoyi News: In terms of "treating the disease before it is treated", how does Gushengtang help patients solve the problem of follow-up diagnosis? What is the customer structure of Gushengtang?
Tu Zhiliang: Gushengtang took the lead in proposing a combination of online and offline services, which is what we call the OMO model (Online-Merge-Offline online and offline integration). Now the state is vigorously developing traditional Chinese medicine + medical health services, and we are gradually putting a large number of chronic diseases on the line. Many people think that most of the people who see TCM are elderly, but they are not. In our user structure, only 17% are elderly and 63% are under 45 years old. In other words, a large proportion of them are young and middle-aged. Our OMO model combines traditional Chinese medicine and the Internet very well, providing a more convenient platform for young and middle-aged people to see a doctor.
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Gushengtang will set up an in-hospital preparation center in Nansha
Aoyi News: It is said that 60% of the funds raised after the listing of Gushengtang will be used for the all-round integration of online and offline, how will it improve the patient experience? In addition, what is the current progress in the research and development of gushengtang in-hospital preparations?
Tu Zhiliang: Gushengtang put forward the concept of "TCM medical ecosystem hypothesis", that is, from the first brand of TCM offline services in the 1.0 era, to the new TCM OMO platform in the 2.0 era, and finally to the largest new TCM ecosystem in China in the 3.0 era. Here we particularly put forward the "two modernizations", that is, the concept of productization and intelligence. One is the productization of diagnosis, in the past we were face-to-face, and now online can be seen through pictures and other ways, so that the consultation process can be realized data, while borrowing big data analysis to achieve AI Chinese medicine, thus forming an auxiliary diagnosis and treatment system. The second productization is that we are now trying to turn the curative prescriptions summarized by the famous old Chinese medicine practitioners of Gushengtang into in-hospital preparations. We are in Nansha to set up an in-hospital preparation center under Gushengtang Internet Chinese Medicine Hospital, and there are about 10 in-hospital preparations in the process of being applied. At the same time, we signed a strategic cooperation with Hengqin Traditional Chinese Medicine Park, and the two sides have a deeper strategic cooperation in the research and development of in-hospital preparations and big data research. I believe that good Chinese medicine requires both the inheritance of medical skills and the inheritance of products.
Aoyi News: Many doctors in Gushengtang practice in multiple locations, how to ensure the quality of medical services in this case?
Tu Zhiliang: In 2019, the number of TCM practitioners in China was about 624,000, accounting for only 16.1% of the total number of physicians, and the number of outpatient visits per TCM physician was 13.1 per day, which was 45.6% higher than the daily outpatient visit of each physician. In my opinion, quality medical resources are always scarce. Doctors use their personal time to practice at multiple locations in Gushengtang to increase the effective supply of medical resources. Secondly, Gushengtang will also work with experts to build a heritage studio to train young Chinese medicine practitioners and realize the inheritance of the essence of Chinese medicine.
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Chinese medicine can go to sea can "first treat and then medicine"
Aoyi News: At present, Chinese medicine has become a hot topic, what do you think are the difficulties and blockages of Chinese medicine going to sea? What kind of path should Chinese medicine choose to go to sea?
Tu Zhiliang: We say that culture is prosperous and Chinese medicine is prosperous. In the past, we hoped that "medicine would go outward", but in fact, Chinese medicine and Western medicine are two different biological drug systems, and there is a relatively large cognitive difference. To go international, I think we can "treat first and medicine later". Like acupuncture in the past, acupuncture allows everyone to see a needle to solve some basic problems, so it has won the recognition of foreign markets. Today, our doctors in the Department of Internal Medicine of Traditional Chinese Medicine go out and prove the problem with the exact efficacy, then Chinese medicine goes out. Therefore, I still feel that I should use "first medicine and then medicine" to go to the international market as much as possible.
Aoyi News: After Gushengtang was listed on the Hong Kong stock market, how do you see the trend of the stock price in the future?
Tu Zhiliang: When it comes to stock prices, we never talk about how to look at them. Gushengtang has a core "three long" concept, long term, long strength, long feelings. We have spent 11 years to go to the Hong Kong capital market, and the future will take a longer time, in the old saying, it is a long time to work hard and for a long time, so that Chinese medicine can go to the world.
Aoyi news reporter Lin Shiyan