Hulu Wa Yaoye

What Hulu Wa Yaoye does

Hulu Wa Yaoye Group (葫芦娃药业集团, SSE: 605199) is a Chinese pediatric pharmaceutical manufacturer founded in 2008 and headquartered in Haikou, Hainan Province. The company specializes in traditional Chinese medicine (TCM) formulations for children, operating across seven product series: pediatric medications (its core focus), gynecological medications, antibiotics, respiratory drugs, digestive drugs, cardiovascular/cerebrovascular drugs, and tonic/nutritional supplements. It markets 34 pediatric products in production, maintains a pipeline of 120+ products in development, and holds 335 drug approval numbers with 107 intellectual property patents. Flagship products include Xiaoer Feire Kechuan Granules (小儿肺热咳喘颗粒, pediatric respiratory), Changyanning Granules (肠炎宁颗粒, gastrointestinal), and Fufang Lai'ansuan Granules (复方赖氨酸颗粒, nutritional supplement), several of which are on the National Essential Medicines List and National Medical Insurance Catalog.

The company operates six intelligent manufacturing bases across Haikou, Nanning (the largest children's TCM production base in China), Laibin (largest digitalized TCM extraction base in Guangxi), and Hangzhou. Its R&D infrastructure includes a Pediatric Drug R&D Academician Workstation, a postdoctoral research station, and a Hainan Province TCM Preparation Engineering Technology Research Center. Revenue is generated primarily through pharmaceutical product sales via a multi-channel distribution network covering all Chinese provinces — 2,300+ county-level markets, 13,000+ tiered medical institutions, 200,000+ clinics, 270,000+ pharmacies, and direct e-commerce via Tmall and JD flagship stores. The company went public on the Shanghai Stock Exchange in July 2020 (IPO raised 588.7M CNY) and is now pursuing international expansion into Southeast Asia and the Middle East after obtaining AEO High-Level certification in 2024.

The business model is sales-led with separate marketing centers for retail, medical, and innovation channels, supported by academic promotion, pharmacy chain partnerships, and CSR-driven public welfare programs. B2B partners include Da Can Lin (大参林), Jian Zhi Jia (健之佳), Wanhe Pharmacy (万和医药连锁), and Yikang Pharmacy (一心堂). The company is investing in high-end pediatric dosage forms (oral films, micro-granules), first-to-market generic drugs, and innovative pediatric drugs in late-stage clinical trials, while also expanding its international trade business through cross-border e-commerce.

Name

Hulu Wa Yaoye

Legal name

海南葫芦娃药业集团股份有限公司

Website

https://huluwayaoye.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Pediatric Pharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industries

Cold, Flu, Cough & Allergy Remedies (Decongestants, Antihistamines, Cough Syrups, Lozenges) (CRADAMAD), Compounding Ingredient & API Distributors (Pharma Supply) (HLAIAJAO)

Keywords

• Pediatric pharmaceuticals
• Traditional Chinese medicine
• Children respiratory medicine
• TCM drug manufacturing
• OTC medications

Headquarters

HQ city

Haikou

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Pharmaceutical Product Sales: The company generates revenue primarily from manufacturing and selling pediatric and adult pharmaceutical products. Main products include respiratory, digestive, and nutritional supplements for children and adults. The company has 34 products in production/sales and 120+ products in pipeline.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Hulu Wa Yaoye manufactures and sells specialized pediatric and adult Traditional Chinese Medicine (TCM)-based pharmaceuticals through 7 product series, anchored by flagship pediatric respiratory, gastrointestinal, and nutritional products. Its lineup spans 34 marketed products with more than 120 candidates in the R&D pipeline, distributed across 2,300+ county-level markets in China via retail pharmacies, medical institutions, primary healthcare outlets, and own e-commerce flagship stores. The company complements domestic manufacturing with cross-border e-commerce and product export into Southeast Asia and the Middle East.

Product overview

葫芦娃药业集团 is a specialized pediatric pharmaceutical company organized as a group listed on the Shanghai Stock Exchange (stock code: 605199). The company operates across 7 product series: pediatric medications (its core focus with 34 marketed products and ~120 in development), gynecological medications, antibiotics, respiratory system drugs, digestive system drugs, cardiovascular/cerebrovascular drugs, and tonic/nutritional supplements. The portfolio centers on classic TCM-derived pediatric formulations — most notably 小儿肺热咳喘颗粒 (flagship respiratory product), 肠炎宁颗粒 (flagship gastrointestinal product), and 复方赖氨酸颗粒 (nutritional supplement) — supplemented by innovative drugs nearing market (易黄颗粒, 小儿化积颗粒) and a pipeline of first-to-market generic drugs (e.g., 枸橼酸托法替布口服溶液, 维生素K滴剂, 头孢托仑匹酯颗粒). The company is expanding into high-end pediatric dosage forms (口溶膜, 微颗粒), pediatric eye medications, dermatology, and special medical foods, covering the full child lifecycle health spectrum.

Differentiator

Problem solved

Functional benefit

Brands

• 小儿肺热咳喘颗粒: 主打产品之一，国家基药目录、国家医保目录产品，应用于感冒、流感、支气管炎等呼吸系统疾病治疗
• 肠炎宁颗粒
• 复方赖氨酸颗粒
• 葫芦娃

Products and services

• Xiaoer Feire Kechuan Granules (小儿肺热咳喘颗粒) Pediatric respiratory granules for treating cough, asthma, bronchitis and influenza in children, derived from classic TCM formulas (Maxing Shigan Tang, Baihu Tang, Yinqiao San). Listed in the National Essential Medicine List, National Medical Insurance Catalog and the National Health Commission's Influenza Diagnosis and Treatment Plan. The flagship product and most-awarded SKU of the company.
• Changyanning Granules (肠炎宁颗粒) Pediatric and adult gastrointestinal granules derived from a classic Eastern Jin dynasty Ge Hong formula; treats acute and chronic gastroenteritis and pediatric diarrhea. Clinical efficacy exceeds montmorillonite by 5.03% and recognized as a Pharmacist Recommendation Top Brand.
• Compound Lysine Granules (复方赖氨酸颗粒) Pediatric nutritional supplement containing compound lysine that supports child growth and development; one of the company's flagship products.
• Salbutamol Sulfate Nebulizer Solution (吸入用硫酸沙丁胺醇雾化液) Respiratory system nebulizer solution containing salbutamol sulfate for treating bronchospasm. Approved in 2025 and part of the company's expansion of the respiratory therapeutic area.
• Esomeprazole Sodium for Injection (注射用艾司奥美拉唑钠) Injectable proton pump inhibitor for the digestive system. Approved in 2025 as part of the company's expansion into injectable generic formulations; passed Generic Drug Consistency Evaluation.
• Calcitriol Softgel Capsules (骨化三醇软胶囊) Nutritional supplement in softgel capsule form supporting calcium and vitamin D metabolism; approved in 2025, extending the portfolio into softgel dosage forms.
• Keke Pian (克咳片) Adult cough medication based on the Maxing Shigan Tang formula with added Jing Mi Ke and Lai Fuzi; treats cough, phlegm and asthma from respiratory infections. Part of the company's adult product line.
• Cefdinir Dispersible Tablets (头孢克肟分散片) Third-generation cephalosporin antibiotic for treating bacterial infections; part of the company's antibiotic product line.

Quantifiable outcome

• 42 specialized children's medicines and 34 products in production/sales, with over 120 products in R&D pipeline
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

15 partnerships are on record, tiered core and minor.

• 天津药物研究院有限公司 (Tianjin Institute of Pharmaceutical Research)coreStrategic or Co-development PartnerLong-term R&D collaboration with domestic renowned R&D institutions including joint product development and commercialization. The company has established cooperative relationships with various top research institutions to stay ahead of industry frontiers and develop new products.
• 山东省药学科学院 (Shandong Provincial Institute of Medicine)coreStrategic or Co-development PartnerStrategic R&D partnership for new drug development and commercialization
• 沈阳药科大学 (Shenyang Pharmaceutical University)coreStrategic or Co-development PartnerAcademic partnership for talent development and collaborative research projects
• 辽宁中医药大学 (Liaoning University of Traditional Chinese Medicine)coreStrategic or Co-development PartnerAcademic collaboration in traditional Chinese medicine research and talent development
• 张强院士 (Academician Zhang Qiang)coreStrategic or Co-development PartnerIn 2024, the company signed an academician expert workstation agreement with Academician Zhang Qiang from Peking University School of Pharmacy to strengthen R&D capabilities
• 中国中药协会儿童健康与药物研究专业委员会 (China TCM Association Pediatric Health and Drug Research Professional Committee)coreStrategic or Co-development PartnerLiu Jingping, Chairman, serves as Vice Chairman of this committee, facilitating industry-academia-research collaboration in pediatric TCM
• 世界中医药学会联合会儿科专业委员会 (World Federation of Chinese Medicine Societies Pediatric Professional Committee)coreStrategic or Co-development PartnerLiu Jingping serves as Vice Chairman of the 4th Council, promoting international academic exchange and cooperation in pediatric TCM
• 中国非处方药物协会 (China Non-prescription Drug Association)coreStrategic or Co-development PartnerLiu Jingping serves as Vice Chairman of the 8th Council, contributing to OTC drug industry standards and development
• 海南省旭日东升慈善基金会 (Hainan Xuri Dongsheng Charity Foundation)coreOthersFounded by Liu Jingping in 2016, the foundation focuses on children's health, education, and welfare, conducting various public welfare activities including supporting underprivileged children, medical assistance, and disaster relief. The foundation was certified as a charitable organization in 2017.
• 中国医药教育协会 (China Medical Education Association)coreStrategic or Co-development PartnerJointly launched the national continuing medical education project 'Children's Safety and Standardized Medication Knowledge Popularization Education Project' in 2017, training over 10,000 grassroots medical professionals
• 博鳌乐城管理局 (Boao Lecheng Administration)minorStrategic or Co-development PartnerSigned strategic cooperation agreement to leverage the 'Lecheng Research + Haikou Production' collaborative model
• 南海健康产业研究院 (South Sea Health Industry Research Institute)minorStrategic or Co-development PartnerStrategic partnership for health industry research and development
• 中华中医药学会儿科分会 (Pediatric Branch of China Association of Traditional Chinese Medicine)coreStrategic or Co-development PartnerLiu Jingping serves as Vice Chairman of the Pediatric Branch, promoting academic exchange and collaboration in pediatric TCM
• 海南省儿童福利会 (Hainan Children's Welfare Association)coreOthersLiu Jingping serves as Chairman of the 4th Council, focusing on children's welfare and development
• 海南省药学会 (Hainan Pharmaceutical Society)coreOthersLiu Jingping serves as Chairman of the 8th Council, contributing to pharmaceutical industry development in Hainan

Scale indicators15 records

Recent moves3 records

Expansion highlights6 records

Broad incumbents

• China Traditional Chinese Medicine Holdings: Hong Kong-listed TCM pharmaceutical group (Sinopharm subsidiary) with broad TCM portfolio across multiple therapeutic areas. Comparable as a Chinese TCM manufacturer with national distribution, though significantly larger and more diversified than Huluwa's pediatric-focused portfolio.
• Beijing Tongrentang: Iconic Chinese TCM manufacturer with 350+ year history, listed on Shanghai Stock Exchange (600085). Comparable as a branded TCM pharmaceutical company with national distribution and government recognition, though much larger and more established than Huluwa.
• Yunnan Baiyao Group: Major Chinese TCM and consumer healthcare company (000538.SZ) with flagship wound-care and TCM products. Comparable as a publicly-listed Chinese TCM manufacturer with branded consumer healthcare products, but operates at much larger scale and broader portfolio.
• Jiangsu Hengrui Medicine: China's largest innovative pharmaceutical company (600276.SH) with strong R&D capabilities and broad drug portfolio. Comparable in Chinese pharma manufacturing and regulatory positioning, though focused on innovative drugs rather than TCM pediatric formulations.
• Guangzhou Pharmaceutical Holdings (GPHL): Major Chinese pharmaceutical conglomerate under Guangzhou municipal government, encompassing multiple TCM brands including Wanglaoji and Baiyunshan. Comparable as a state-affiliated Chinese TCM/consumer healthcare manufacturer with diverse portfolio and national distribution.
• China Resources Pharmaceutical Group: Hong Kong-listed (3320.HK) pharmaceutical arm of state-owned China Resources Holdings. Comparable as a major Chinese pharmaceutical group with both TCM and Western pharma operations and broad national distribution.
• Shanghai Pharmaceuticals Holding: One of China's largest pharmaceutical companies (601607.SH, 2607.HK) with significant TCM operations and pharmaceutical distribution. Comparable as a vertically-integrated Chinese pharmaceutical player, though much larger and with stronger distribution/wholesale business.

Direct peers

• Livzon Pharmaceutical Group: Shenzhen-listed Chinese pharmaceutical company (000513.SZ, 1513.HK) with significant pediatric pharmaceutical operations including digestive and respiratory medications. Most directly comparable as a Chinese pharma with overlapping pediatric therapeutic areas (respiratory, GI) and similar multi-channel distribution.
• Shandong Buchang Pharmaceuticals: Chinese TCM pharmaceutical company listed on Shanghai Stock Exchange, specializing in cardiovascular and cerebrovascular TCM products. Comparable as a publicly-listed Chinese TCM manufacturer with similar branded product strategy and national distribution, though focused on different therapeutic areas.

Regional players

• Zhendong Group: Shanxi-based TCM pharmaceutical company with similar specialty focus on herbal extracts and finished TCM formulations. Comparable as a Chinese specialty TCM manufacturer with vertically-integrated extraction and formulation capabilities, though operating in different therapeutic areas and region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key highlights7 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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

Frequently asked questions about Hulu Wa Yaoye