Hu Qingyutang

What Hu Qingyutang does

Hu Qingyutang is a 150-year-old traditional Chinese medicine (TCM) pharmacy and healthcare retailer headquartered in Hangzhou, China. Founded in 1874 during the Qing Dynasty (Tongzhi era) by the prominent red-hat merchant Hu Xueyan, the company operates as a private subsidiary of Hu Qingyutang Group (胡庆余堂集团有限公司). Its core business spans four interconnected lines: a chain of more than 20 directly-operated retail pharmacies across Hangzhou and Zhejiang province cities (Haining, Huzhou, Jiaxing, Nanxun, Shengzhou, Wuyi, Cixi); a Famous Doctor Hall (名医馆) TCM outpatient network consisting of 9 outpatient departments and 6 clinics staffed by more than 400 national, provincial, and municipal-level TCM specialists; a heritage medicinal cuisine restaurant recognized as one of China's three renowned medicinal cuisine establishments; and an e-commerce arm selling through WeChat and Youzan storefronts. The company serves end consumers (patients and wellness buyers) directly, with no franchise or B2B channel disclosed.

The product catalog centers on premium ginseng and deer antler tonics (野山参, 鹿茸), high-grade herbal slices (饮片), traditional concentrated herbal pastes (膏方) with more than 17 condition-specific formulations, Chinese and Western patent medicines, and selected medical devices. Underlying technical differentiation rests on three pillars: (1) time-honored formulation expertise, including constitution-specific longevity pastes (Hu's Longevity Paste for cold and hot body types); (2) independent authentication of ginseng and deer antler inputs by the Hangzhou Municipal Drug Testing Institute with photo records; and (3) a deep practitioner bench — 400+ credentialed physicians. The company holds an Internet Drug Information Service Qualification Certificate ((浙)-非经营性-2022-0022) and operates an on-site TCM museum as a cultural and brand asset.

The business model is direct-to-consumer retail and professional services, with revenue generated from in-store medicine sales, TCM consultation fees, medicinal cuisine dining, and online product sales. All physical locations are directly operated under a unified management, distribution, and service standard; the company explicitly does not franchise. Pricing is not publicly disclosed, and the company sells mail-order via phone in addition to physical and e-commerce channels. Marketing is executed primarily through a WeChat official account (hqythqyt), Weibo, and the company's own website, with no evidence of large-scale digital advertising spend. Revenue is not publicly reported.

Name

Hu Qingyutang

Legal name

杭州胡庆余堂国药号有限公司

Website

https://hqytgyh.com

Company type

Private

Founded year

1874

Operating status

Operating

Headcount range

1–10 employees

Short description

Hu Qingyutang is a 150-year-old Hangzhou-based traditional Chinese medicine retailer operating 20+ directly-owned pharmacies, 9 TCM outpatient departments, 6 clinics with 400+ doctors, a heritage medicinal cuisine restaurant, and e-commerce channels, selling ginseng tonics, herbal slices, patent medicines, and traditional pastes to end consumers.

Ownership category

akta.pro rank

Product category

Traditional Chinese Medicine

NAICS

Pharmacies and Drug Retailers (45611), Pharmacies and Drug Retailers (456110)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Discount Drugstores with Clinics (Retail Health Clinics) (CRAEAHAE)

akta.pro secondary industry

Discount Drugstores (Value-Focused Chain Pharmacies) (CRAEAHAA)

Keywords

• Traditional Chinese medicine
• Herbal pharmacy
• TCM clinic services
• Medicinal cuisine
• Herbal products

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices26 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. 医药零售: Sale of traditional Chinese medicines, herbal slices, prepared herbal formulas (膏方), and medicinal products through chain pharmacy stores.
2. 中医门诊服务: TCM consultation services through 9 clinic locations and 6 TCM medical offices with 400+ doctors. Revenue from consultation fees.
3. 药膳餐饮: Medicinal cuisine restaurant services at the herb-food restaurant.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Hu Qingyutang operates a traditional Chinese medicine retail pharmacy chain in Hangzhou, selling ginseng, deer antler products, premium herbal slices, Chinese and Western patent medicines, and traditional herbal pastes. The company also runs TCM outpatient departments, clinics and a Famous Doctor Hall staffed by hundreds of physicians for consultation and treatment, together with a medicinal cuisine restaurant. It sells through directly operated stores and online channels including WeChat and Youzan.

Product overview

Hu Qingyutang (杭州胡庆余堂国药号) is a traditional Chinese medicine pharmacy established in 1874 during the Qing Dynasty, operating as a comprehensive TCM healthcare provider with multiple business lines: (1) a pharmacy chain with over 20 retail locations selling参茸滋补 (ginseng and deer antler products), 优质饮片 (premium herbal slices), 中西成药 (Chinese and Western patent medicines), and 传统膏方 (traditional herbal pastes); (2) 胡庆余堂名医馆, a TCM outpatient service network with nine outpatient departments and six clinics featuring over 400 physicians; (3) 胡庆余堂药膳馆, a medicinal cuisine restaurant; and (4) an e-commerce platform. The company also offers specialized traditional paste formulations (膏方) for various health conditions including tonic, beauty, bone-strengthening, and constitution-specific longevity pastes.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct-operated TCM pharmacy chain

Named customers1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Tong Ren Tang Technologies: Hong Kong-listed subsidiary of Tongrentang Group focused on manufacturing and distribution of TCM products including pastes and herbal medicines. Comparable to Hu Qingyutang's product portfolio in traditional paste formulations and TCM extracts.
• Pien Tze Huang (片仔癀): Premium TCM company famous for its signature Pien Tze Huang formula and broader product portfolio including daily-use TCM cosmetics and pastes. Comparable in the high-end TCM positioning and efficacy-claim product mix that mirrors Hu Qingyutang's traditional paste strategy.
• LBX Pharmacy (老百姓大药房): Major modern pharmacy chain in China with thousands of stores across central and eastern provinces. A direct competitor for OTC, health supplements, and TCM products in overlapping geographic markets, representing the modern pharmacy format that challenges heritage TCM retailers.
• Yifeng Pharmacy Chain (益丰大药房): One of China's largest modern pharmacy chains with 10,000+ stores nationwide, competing directly for OTC and TCM product sales. Represents the modern format pressure on heritage TCM pharmacies like Hu Qingyutang through scale, convenience, and digital integration.

Broad incumbents

• Shanghai Pharmaceuticals Holding: One of China's largest pharmaceutical conglomerates with significant TCM manufacturing and distribution operations. Comparable through TCM retail and product distribution channels, though at a vastly larger scale and with broader Western pharmaceutical exposure.
• Yunnan Baiyao Group: Major TCM pharmaceutical and consumer health company with flagship Baiyao product line and broader TCM portfolio including pastes and oral care. Comparable in TCM heritage and brand strength, though focused more on consumer packaged TCM products than retail pharmacy operations.
• China TCM Holdings (中国中药): Major Chinese TCM pharmaceutical holding company manufacturing and distributing TCM products including traditional formulas. Overlaps with Hu Qingyutang on traditional paste and herbal medicine product categories, though primarily upstream in manufacturing rather than retail.
• Guangzhou Pharmaceuticals (Baiyunshan / Chen Li Ji): Large state-owned pharmaceutical holding company that owns heritage TCM brand Chen Li Ji (陈李济) with traditional pastes, TCM retail, and modern pharmaceutical operations. Comparable to Hu Qingyutang through the Chen Li Ji heritage TCM business, though the parent operates at vastly larger diversified scale.

Direct peers

• Lei Yun Shang Pharmacy: Heritage TCM pharmacy chain originating in Suzhou with 300+ year history, operating TCM retail stores and clinics in the Yangtze River Delta region. Directly comparable to Hu Qingyutang as a regional heritage TCM chain competing in the same Zhejiang-adjacent consumer market with similar product mix.
• Tongrentang Group: China's most iconic TCM heritage brand, founded in 1669, operating pharmacy chains, clinics, and TCM product lines both domestically and internationally. Closely comparable to Hu Qingyutang in heritage positioning, multi-format operations, and ginseng/patent medicine product mix, though at significantly larger national and global scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xweibo.com/hqytgyh

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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 Hu Qingyutang