Nanjing Sinolife United

What Nanjing Sinolife United does

Nanjing Sinolife United Company Limited (南京中生联合股份有限公司) is a publicly-listed Chinese nutritional supplement retailer (HKEX: 03332.HK) that operates a vertically integrated "three-in-one" model combining proprietary R&D, in-house production, and branded retail distribution. Founded in 1999 and headquartered at Maqun Science Park in Nanjing's Qixia District, the company grew from a domestic specialty-store operator into a multi-brand nutritional supplements platform following its January 2014 IPO — the first health-product company to list on the Hong Kong Stock Exchange — and the November 2014 acquisition of New Zealand's Good Health Products Limited for approximately HK$140 million.

The company's product portfolio spans over 350 SKUs across 15 categories (vitamins, minerals, herbal extracts, marine immune-regulation products) organized under three distinct go-to-market brands: Zhongsheng (中生) for middle-aged and elderly Chinese consumers, Cobayer (康培尔) for younger affluent consumers at premium-mall concept stores, and Good Health (好健康), a ~30-year-old New Zealand heritage brand distributed across Australia, Hong Kong, Japan, and Korea. Core technical capabilities include self-developed formulations such as Coenzyme Q10 capsules, Polygonatum-based memory-support capsules, and Ganoderma-Spirulina immune capsules, alongside the imported Good Health lactoferrin milk powder, Martek DHA algae oil, and calcium-iron-zinc nutrition lines. Production capacity post-expansion targets 800,000 doses of soft capsules, 650,000 cans of powder, and 2 million mini-bottle drinks annually.

Commercial revenue mechanics are anchored in branded direct-to-consumer retail through company-owned specialty stores and Cobayer concept stores positioned alongside luxury retailers (LV-adjacent malls) across 35 Chinese cities and 16 provinces, supplemented by field-sales operations through regional subsidiaries in Shanghai, Tianjin, Shenyang, and Hefei. Distribution extends internationally via the Good Health network and through a 5-year strategic cooperation with state-owned COFCO Nutrition Health for a "Nutrition Health Supermarket" concept. The customer base shows a 96% repeat-customer rate with an average consumer age of 36, supported by WeChat-based engagement, big-data analytics, and ERP management systems, with reported H1 2014 revenue of 96 million RMB (11.6% YoY growth).

Name

Nanjing Sinolife United

Legal name

南京中生联合股份有限公司

Website

https://zs-united.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Nanjing Sinolife United is a publicly-listed (HKEX: 03332.HK) Chinese nutritional supplement retailer operating a multi-brand "R&D-production-retail" model across 35 cities, serving middle-aged/elderly consumers via Zhongsheng and younger affluent consumers via Cobayer and Good Health (NZ) brands.

Ownership category

akta.pro rank

Product category

Nutritional Supplements

NAICS

Food (Health) Supplement Retailers (456191)

SIC

Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Multivitamins & Daily Packs (CRADAGAC)

akta.pro secondary industries

Vitamins & Minerals (Single Nutrients) (CRADAGAB), International Specialty Ingredients & Import Markets (CRAHAFAL), Probiotics & Digestive Health Supplements (CRADAGAF)

Keywords

• Nutritional supplements retail
• Dietary supplements distribution
• Vitamin and mineral products
• Herbal health supplements
• Premium mall specialty stores

Headquarters

HQ city

Nanjing

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Nutritional Supplements Manufacturing and Sales: The company generates revenue through the manufacturing and sales of nutritional dietary supplements and health food products under its own brands (Zhongsheng, Cobayer) and imported brands (Good Health), distributed through specialty stores and concept stores in premium malls.

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

Nanjing Sinolife United is an integrated nutritional supplements company that develops, manufactures, and retails branded dietary supplements through premium-mall specialty stores. Its portfolio includes self-developed Chinese brands (Zhongsheng, Guishi, Keda) covering Coenzyme Q10, memory-enhancement, and immune-support capsules, plus the New Zealand-acquired Good Health (好健康) brand spanning vitamins, minerals, herbal extracts, and marine immune products. The company also operates the Cobayer premium concept-store line targeting affluent younger consumers through co-branded imported goat milk powder and honey products.

Product overview

Nanjing Sinolife United operates as a nutritional supplements retailer with a multi-brand portfolio consisting of: (1) Self-developed Chinese brands including Zhongsheng (中生), Guishi (桂氏), and Keda (科大牌) featuring Coenzyme Q10 Capsules, Memory Enhancement Capsules, and Immune Support Capsules; (2) Imported Good Health (好健康) brand acquired from New Zealand in 2014, offering lactoferrin milk powder, DHA algae oil, calcium-iron-zinc nutrition packs, goat milk powder, and 350+ product SKUs across vitamins, minerals, herbal extracts, and marine supplements; (3) Cobayer premium concept store brand targeting affluent younger consumers. The company distributes through company-owned retail stores (Zhongsheng International, Goodhealth Deji, Cobayer stores), online platforms, and specialty counters in high-end malls across 35 cities in China.

Differentiator

Problem solved

Functional benefit

Brands

• Cobayer: Premium imported health products brand from Australia targeting younger and affluent customers in China, featuring goat milk powder and honey series.
• Good Health (好健康)
• Zhongsheng Series (中生系列)
• Zhongsheng International Store

Products and services

• Sinolife Coenzyme Q10 Capsule (中生牌辅酶Q10胶囊) Self-developed dietary supplement capsule marketed to help protect heart health, relieve fatigue, promote blood circulation, strengthen the immune system, and provide antioxidant functions. Targeted at adults seeking cardiovascular and energy support under the Zhongsheng brand.
• Gui Shi Wei Si Capsule (桂氏维思胶囊) Memory-improvement health supplement capsule with Polygonatum (黄精) as the main ingredient under the Gui Shi brand. Targeted at consumers seeking herbal cognitive support.
• Ke Da Green Zhi Capsule (科大牌绿芝胶囊) Immune-support capsule combining Ganoderma (灵芝) and Spirulina, integrating Eastern herbal and Western nutritional ingredients under the Ke Da brand. Targeted at consumers seeking combined-modality immune enhancement.
• Good Health Lactoferrin Modulated Milk Powder (goodhealth乳铁蛋白调制乳粉) 100% New Zealand imported lactoferrin modulated milk powder under the Good Health brand, providing lactoferrin-based nutritional supplementation. Targeted at consumers seeking premium dairy-based immune and nutritional support.
• Good Health Martek DHA Algae Oil Compound Oil (goodhealth马泰克DHA藻油复合油) Good Health brand DHA (Docosahexaenoic Acid) algae oil compound sourced from Martek, providing omega-3 fatty acid nutritional support for cognitive and developmental health. Targeted at consumers seeking premium plant-based omega-3 supplementation.
• Good Health Calcium Iron Zinc Nutrition Pack (goodhealth钙铁锌营养包) Good Health brand comprehensive mineral nutrition supplement pack providing calcium, iron, and zinc. Targeted at consumers seeking multi-mineral supplementation for bone, blood, and immune support.
• Good Health Goat Milk Powder (Good Health好健康山羊奶粉) 100% New Zealand imported goat milk powder under the Good Health brand, positioned as a family health product. Targeted at consumers seeking premium imported dairy-based nutrition for whole-family use.
• Good Health Vitamin C Plus Good Health brand Vitamin C Plus supplement that received CFDA regulatory approval for sale in China in September 2018. Targeted at Chinese consumers seeking premium imported Vitamin C supplementation.

Quantifiable outcome

• 96% repeat customer rate with average consumer age of 36
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Good Health Products Limited (新西兰好健康)coreOEM/ Whitelabel/ Licensing Partner · 1 November 2014Acquired 100% equity of Good Health Products Limited (New Zealand) through joint venture Shanghai Weiyi for approximately HK$140 million. Good Health is a leading premium dietary nutritional supplement brand in New Zealand with nearly 30 years of history, over 350 products across 15 categories, and established distribution in Australia, Hong Kong, Japan, and Korea.
• Jiangsu City Channel (江苏城市频道)minorGTM or Marketing Partner · 17 October 2014Partnership signing ceremony with Jiangsu City Channel (one of 'Chinese TV Four Dragons') to become the base for 'Wan Jia Deng Huo' health lecture program, bringing health concepts and information to citizens advocating health.
• Shanghai Weiyi (上海惟翊)coreStrategic or Co-development Partner · 1 October 2014Joint venture company established in Shanghai Free Trade Zone with 60% ownership by Sinolife United and 40% by Shanghai Fosun. Created to pursue international M&A in health products sector, specifically used for the Good Health acquisition.
• COFCO Nutrition Health (中粮营养健康)coreStrategic or Co-development Partner · 1 January 20135-year cooperation agreement signed with COFCO Nutrition Health (state-owned enterprise under COFCO Group) to establish 'Nutrition Health Supermarket' and joint laboratory, cooperating fully in R&D, products, and sales channels. First health product company to partner with a central enterprise.
• Australia Conbair Health Food Co., LtdminorChannel Partner/ Reseller/ DistributorListed as a friendship link partner on Sinolife United website; Australian health food company with distribution relationship for Cobayer brand products sourced from Australia.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Blackmores: Blackmores is an Australia-headquartered premium nutritional supplements brand with deep China distribution via daigou and cross-border e-commerce. It is highly comparable to Sinolife's Good Health (NZ) subsidiary in product portfolio, premium positioning and APAC retail strategy.
• Swisse Wellness: Swisse is an Australian premium supplements brand (owned by H&H Group), with strong China daigou and CBEC presence. Comparable to Good Health (NZ) in product mix, premium positioning, and the same Australia/NZ-origin prestige branding that Sinolife leverages.
• Infinitus (China): Infinitus (无限极) is one of China's largest direct-selling health product companies, offering herbal-based nutritional supplements. It competes with Sinolife for the same middle-aged Chinese consumer demographic, although via direct-selling rather than specialty retail.
• BYHEALTH: BYHEALTH (汤臣倍健) is China's largest nutritional supplements manufacturer and brand, listed on the Shenzhen Stock Exchange. It competes directly with Sinolife across vitamins, minerals and specialty supplements, targeting overlapping middle-aged Chinese consumers with similar retail and distribution models.

Broad incumbents

• Herbalife: Herbalife is a global nutrition company with significant direct-selling operations in China covering protein shakes, vitamins and meal replacements. It is a broad incumbent in the same category, with overlapping target customers but a fundamentally different distribution model.
• H&H Group: H&H Group (合生元) owns Swisse Wellness and Biostime baby nutrition brands, with a multi-brand premium supplements and nutrition portfolio. It is comparable to Sinolife in its strategy of acquiring international premium supplement brands and serving Chinese consumers.
• Amway China: Amway operates the largest direct-selling nutritional supplements platform in China (Nutrilite) with extensive sales networks. It is a broad incumbent competing with Sinolife on supplements, but uses a direct-selling model rather than Sinolife's specialty retail store approach.
• Pfizer Consumer Healthcare (Centrum): Pfizer's Centrum is one of the world's largest vitamin and mineral supplement brands with established China retail presence. It is a broad incumbent competing in the multivitamin category that overlaps with Sinolife's Good Health and Zhongsheng product lines.

Emerging players

• Inner Mongolia Yili Industrial Group: Yili is a leading Chinese dairy and nutrition conglomerate that has expanded into adult nutritional supplements and functional foods. While primarily a dairy giant, its growing nutrition supplements segment overlaps with Sinolife's premium positioning and Chinese consumer target.

Others

• COFCO Nutrition Health: COFCO Nutrition Health is a strategic partner of Sinolife (5-year cooperation agreement covering R&D, products and sales channels) and is a state-owned enterprise under COFCO Group. It is comparable as an adjacent nutritional health platform with channel scale Sinolife leverages for distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 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 Nanjing Sinolife United