New Stock News | Wenzhi Medical Re-submits Listing Application to Hong Kong Exchanges for the Largest AI-assisted Traditional Chinese Medicine Service Provider in Mainland China
Zhitong Finance APP has learned that, according to the Hong Kong Exchanges' disclosure on July 29th, Wenzhi Medical has resubmitted its listing application to the Hong Kong Exchanges, with Haitong International as the sole sponsor. The company previously submitted its application on January 9th, 2025.
According to the prospectus, Wenzhi Medical is the largest AI-assisted traditional Chinese medicine service provider in mainland China for 2023 and 2024, with market share of 1.5% and 1.3%, respectively. The AI-assisted traditional Chinese medicine services refer to those based on AI technology, which are assisted by intelligent diagnostic systems to provide standardized and intelligent clinical decision support and guidance to medical professionals.
Wenzhi Medical has established a comprehensive TCM business layout that fully meets the needs of customers from disease treatment to health preservation, learning, and practicing traditional Chinese medicine. During the reporting period, the company generated revenue through (i) TCM medical services, (ii) TCM lifestyle products (including various TCM self-care products and knowledge products), and (iii) TCM brain subscription services.
According to a report by Zhishui Consulting, the traditional Chinese medicine (TCM) service industry in mainland China has high fragmentation. Although there is great potential for development and integration, there are pain points on both supply and demand sides. On the supply side, TCM medical services are extremely dependent on rare and experienced TCM practitioners.
Wenzhi Medical has developed its own AI-assisted TCM diagnosis system – Wenzhi Brain, which is equipped with the largest clinical knowledge graph in mainland China's TCM medical service industry. As of the end of the reporting period, the company's Wenzhi Brain was the first and only AI-assisted TCM diagnosis system to be validated by a three-A hospital and reviewed by experts from the Chinese Academy of Traditional Chinese Medicine.
Wenzhi Medical has established Jixing Hall, which is the largest registered community for TCM enthusiasts in mainland China as of May 31st, 2025. Through sharing ancient and modern TCM classics, as well as original TCM content, the hall attracts a large number of TCM practitioners and enthusiasts, promoting traditional Chinese medicine culture and enhancing the company's brand awareness and market position.
Financially, Wenzhi Medical achieved revenue of RMB 6216.9 million, approximately RMB 1.89 billion, approximately RMB 2.36 billion, approximately RMB 8984.8 million, and approximately RMB 1.0 billion for the years 2022, 2023, 2024, and the first five months of 2025, respectively, with net losses of approximately RMB 1.54 billion, approximately RMB 1.94 billion, RMB 4536.7 million, RMB 238.6 million, and RMB 4384.1 million, respectively.