Gu Sheng Tang

What Gu Sheng Tang does

Gu Sheng Tang (固生堂中医, ticker 02273.HK) is the largest private Traditional Chinese Medicine (TCM) healthcare chain in China, founded in 2010 and headquartered in Guangzhou. The company operates 101+ offline clinics across 21 Chinese cities supplemented by a proprietary internet hospital platform that extends service coverage to 340+ cities, plus 22 branches in Singapore as of April 2026. Its clinical workforce of 43,000+ licensed TCM practitioners includes 8 National Medical Masters (国医大师), the highest concentration of elite TCM talent among any private healthcare institution in China. Cumulative patients served exceed 24 million, with 6 million outpatient visits recorded in 2025 alone.

The company's core offering is TCM consultation and treatment delivered through a hybrid online-plus-offline (OMO) service model. Its technology stack is anchored by a proprietary TCM AI big model platform with two flagship products: 国医AI分身 (National Medical AI Avatar), digital twins of named experts built on 5,000+ historical cases per expert that simulate clinical reasoning across the full workflow from condition collection through prescription; and 中医大脑 (TCM Brain), an evidence-traceable decision support system for junior doctors integrated with the hospital HIS. These AI capabilities are developed through strategic partnerships with Baidu (2023) for foundation model work and Huawei (2025) for infrastructure. The company also markets 19 proprietary hospital preparations, of which 3 have obtained Singapore HSA certification for international distribution.

Revenue is generated primarily through per-visit consultation fees stratified by doctor rank (¥100-300 for young doctors, ¥300-800 for senior experts, ¥500-1,000+ for National Medical Masters) plus pharmaceutical sales from clinic pharmacies. FY2025 revenue reached approximately CNY 3.2 billion per chairman disclosure, with CNY 620 million in operating cash flow and CNY 1.08 billion in cash reserves signaling mature cash generation. The company went public on the Hong Kong Stock Exchange in December 2021 and has committed to annual dividends of at least HK$450 million (or 60% of net profit) through 2028. Customer acquisition runs through the WeChat mini-program, Xiaohongshu content marketing, and 42 medical consortium partnerships with TCM universities and hospitals including Guang'anmen Hospital, Shanghai University of TCM Longhua Hospital, and Guangzhou University of TCM.

Name

Gu Sheng Tang

Legal name

固生堂中医连锁管理集团

Website

https://gstzy.cn

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Gu Sheng Tang is China's largest private Traditional Chinese Medicine healthcare chain, operating 101+ clinics across 21 cities plus an internet hospital covering 340+ cities. It serves 24M+ patients with 43,000+ TCM practitioners and proprietary AI clinical decision tools, recently expanding into Singapore.

Ownership category

akta.pro rank

Product category

Traditional Chinese Medicine Healthcare Services

NAICS

Offices of Physicians (6211), Offices of Physicians (62111)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Health Services (8000)

akta.pro primary industry

Virtual Specialty Care Platforms (tele-stroke, tele-ICU, tele-derm, tele-cardiology) (HLALABAD)

akta.pro secondary industry

Care Team Collaboration, Secure Messaging & Clinical Communication within EHR (HLACAAAK)

Keywords

• Traditional Chinese medicine
• TCM clinic chain
• Internet hospital
• TCM AI clinical decision support
• Proprietary hospital preparations

Headquarters

HQ city

Guangzhou

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Medical Consultation Services: Revenue generated from TCM consultation fees at offline clinics and via internet hospital platform. Patients pay for consultations with renowned TCM experts including National Medical Masters (国医大师) and renowned physicians.
2. Pharmaceutical Sales: Sales of TCM herbs, preparations, and patented medicines through clinic pharmacies. Includes decoction services and proprietary hospital preparations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Gu Sheng Tang delivers Traditional Chinese Medicine (TCM) clinical consultation and treatment services through a network of 101+ owned and managed clinic branches across 21 Chinese cities plus Singapore, staffed by 43,000+ licensed TCM practitioners including 8 National Medical Masters. Services span chronic-disease management, oncology support, gynecology, preventive care, and rehabilitation, complemented by an internet hospital extending reach to 340+ cities, in-house hospital preparations, and AI-assisted clinical decision tools.

Product overview

Gu Sheng Tang operates as an integrated TCM healthcare platform combining offline clinic network (101+ branches in 21 cities), online internet hospital (340+ cities coverage), and AI-powered clinical intelligence products. The core offering includes TCM consultation services staffed by 43,000+ practitioners, supplemented by proprietary hospital preparations (19 formulas) and digital products including 国医AI分身 (AI expert avatars) and 中医大脑 (clinical decision support). The platform leverages AI technology to enable digital inheritance of expert knowledge while expanding access to quality TCM care. The company went public on HKEX in December 2021 (stock code 02273.HK).

Differentiator

Problem solved

Functional benefit

Products and services

• Offline TCM Clinical Services (线下中医诊疗服务) Traditional Chinese Medicine clinical consultation, diagnosis, prescription, and treatment services delivered in person through 101+ offline clinic branches across 21 Chinese cities plus 22 branches in Singapore, staffed by 43,000+ licensed TCM practitioners including 8 National Medical Masters. Covers chronic-disease management, oncology supportive care, gynecology, preventive care, and rehabilitation.
• Gu Sheng Tang Internet Hospital (固生堂互联网医院) Online TCM consultation and telemedicine platform enabling video and text consultations, prescription, and follow-up services, extending expert TCM care to 340+ cities nationwide and integrating seamlessly with offline branches.
• 国医AI分身 (National Medical AI Avatar) Generative-AI digital twins of senior TCM experts trained on 5,000+ historical cases and 300+ typical cases per expert, achieving 80%+ simulation consistency. Supports the full clinical workflow: condition collection, medical-record generation, differential-diagnosis assistance, prescription assistance, and post-consultation follow-up.
• 中医大脑 (TCM Brain) Evidence-based AI clinical decision-support system for young TCM doctors, integrated with the hospital HIS system, providing full-process intelligent assistance in syndrome differentiation and prescription with complete reasoning traceability.
• Proprietary Hospital Preparations (院内制剂) In-house TCM formulations developed and produced by Gu Sheng Tang's clinics, sold through clinic pharmacies; 19 preparations available, with 3 formulations certified by Singapore's HSA for international market access (including 通窍止涕鼻舒颗粒).
• Corporate Health Management Services TCM wellness and health-management services tailored for enterprise clients to provide as employee benefits or wellness programs.

Quantifiable outcome

• 24 million+ cumulative patients served, 6 million outpatient visits in 2025
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability4 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered major and core.

• 香港医院管理局原主席胡定旭majorStrategic or Co-development Partner · 1 May 2026Former chairman of Hong Kong Hospital Authority appointed as Senior Advisor for Hong Kong region, bringing extensive healthcare policy and industry connections.
• 新加坡南洋理工大学李光前医学院coreStrategic or Co-development Partner · 1 January 2026Cooperation with NTU's Lee Kuan Yew School of Medicine for AI medical research, TCM education, and clinical research. Singapore Senior Minister of State for Digital Development and Information and Ministry of Health Chen Jiehao attended the signing ceremony.
• 新加坡1docmajorStrategic or Co-development Partner · 1 November 2025Strategic cooperation with Singapore-based 1doc for local market expansion and service integration.
• 小红书 (Xiaohongshu)majorGTM or Marketing Partner · 1 August 2025Strategic partnership to build a matrix traffic ecosystem platform for marketing and brand promotion.
• 华为 (Huawei)coreStrategic or Co-development Partner · 1 May 2025Strategic cooperation announced in May 2025 for technology and business collaboration.
• 中国中医科学院广安门医院coreStrategic or Co-development Partner · 1 April 2025Medical consortium partnership with one of China's top TCM hospitals.
• 上海中医药大学附属龙华医院coreStrategic or Co-development Partner · 1 April 2025Medical consortium partnership with Longhua Hospital affiliated to Shanghai University of TCM.
• 广州中医药大学coreStrategic or Co-development Partner · 1 April 2025Long-standing partnership with Guangzhou University of TCM including joint establishment of academic programs and talent cultivation.
• 百度 (Baidu)coreTechnology or Integration · 1 July 2023Strategic partnership to enter the TCM AI big model field, leveraging Baidu's AI technology combined with Gushengtang's clinical data and expertise.
• 华西医院中国循证医学中心coreStrategic or Co-development Partner · 1 July 2023Strategic cooperation with West China Hospital Evidence-based Medicine Center for clinical research integration and innovative TCM drug development.
• 腾讯智慧零售majorTechnology or Integration · 1 July 2020Strategic cooperation with Tencent Smart Retail for digital marketing and customer acquisition enhancement.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Beijing Tong Ren Tang: One of China's oldest and most recognized TCM brands, operating retail pharmacies, TCM clinics, and hospitals with both domestic and international presence. Directly comparable as a TCM healthcare chain serving Chinese patients with branded traditional medicine offerings, though larger and more retail-pharmacy-weighted.
• Ping An Healthcare and Technology (Ping An Good Doctor): Major Chinese internet healthcare platform offering online consultation, telemedicine, and consumer health services. Comparable as a digital healthcare delivery model serving Chinese consumers, and a potential competitive overlap in online TCM consultation and chronic disease management.
• JD Health: Online healthcare platform from JD.com providing telemedicine, pharmaceutical e-commerce, and consumer health services. Comparable as a large-scale internet healthcare platform in China, with overlapping online consultation capabilities though broader in Western medicine and pharma retail.
• Alibaba Health: Hong Kong-listed healthcare subsidiary of Alibaba operating pharmaceutical e-commerce, internet hospital, and consumer health tracking. Comparable as an internet healthcare platform with online consultation services; competes for the same digitally-enabled patient base in China.
• We Doctor (WeDoctor): One of China's largest internet hospital and appointment-booking platforms with offline clinic partnerships. Comparable in the digital healthcare delivery model, particularly online consultation and hospital/doctor network aggregation across China.

Broad incumbents

• China Traditional Chinese Medicine Holdings (Sinopharm TCM): State-backed TCM pharmaceutical and healthcare conglomerate under Sinopharm. Comparable as a major TCM industry player in China with manufacturing and clinical footprint, though more weighted to pharmaceutical products than outpatient services.
• China Resources Sanjiu Medical & Pharmaceutical: Major TCM pharmaceutical and consumer health conglomerate with extensive product portfolio and some clinical/service operations. Comparable as a major TCM brand in China with both product and emerging service offerings, though broader and more product-weighted than Gushengtang.

Emerging players

• Dingdang Health: Online pharmacy and on-demand healthcare delivery platform in China. Comparable in the digital health services model for Chinese consumers, though more focused on pharmaceutical delivery than in-depth TCM consultation.
• Dao Health (Dao Clinic / Daocloud-affiliated services): Emerging online TCM consultation and digital health players in China serving chronic disease and wellness patients. Comparable as a digital-first TCM service competitor to Gushengtang's internet hospital offering.

Regional players

• Yifeng Pharmacy Chain: One of China's largest retail pharmacy chains with growing clinic-adjacent services. Comparable as a healthcare retail and consumer health delivery network in China, though primarily Western pharmacy rather than TCM specialty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds7 records

Investors7 records

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M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gu Sheng Tang