The Hurun Research Institute today released the Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020.
Drug company Hengrui Medicine heads up Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020 with US$53.1bn valuation
Shenzhen-based life support device provider Mindray 2nd with US$41.6bn
R&D service provider WuXi AppTec 3rd with US$25bn and integrated health system provider AliHealth 4th with US$23.1bn
14 companies worth US$10bn or more
Drug cos led the way with 62, followed by producers of medical devices and medical services
Coronavirus Impact. Disposable medical supplies company Allmed doubled in value in Feb; Ventilator device provider Yuyue rose 62%.
Shanghai and Beijing led, with 14 and 12, followed by Hangzhou, Shenzhen, Guangzhou and Chengdu. Others in the Top 10 included Nanjing, Suzhou, Tianjin, Shijiazhuang and Zhuhai. The Top 10 cities accounted for 60% of the companies on the list.
World’s most valuable healthcare co is Johnson & Johnson at US$350bn
Hurun Research Institute today released the Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020
(18 March 2020, Shanghai, China and Oxford, UK) The Hurun Research Institute today released the Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020, a list of the 100 Chinese privately-controlled enterprises from the healthcare sector, ranked by their market value. ‘Chinese private enterprises’ here refers to non-state-controlled enterprises with headquarters in mainland China. The market value of listed companies is calculated based on the closing price of 28 February 2020. The valuation of non-listed companies is estimated with reference to listed companies from the same industry. This is the first time Hurun Research has released this list.
The average value of the Top 100 was US$6.5bn, with the cut-off to make the list US$2.1bn.
Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said: “Coronavirus has thrown the spotlight onto China’s top healthcare companies. Six companies from the Hurun Top 100 saw their share price up by half between January 20 and February 28, led by medical product business Allmed, which doubled in value, and followed by respiration equipment provider Yuyue, which rose 62%. Expect to see some of these companies continue to grow as the virus spreads around the world.”
“Healthcare in China has surged over the past decade, driven in large part by increased R&D investments. China’s top healthcare companies are now worth five times that of five years ago. Interestingly, no companies doing traditional Chinese medicine made the Top 10 this year.”
“China's privately-controlled healthcare companies are much more valuable than their state-controlled counterparts. The largest state-controlled healthcare business, TCM investment platform Changchun High & New Technology Industries, currently valued at US$13.8bn, would not have made the Top 10,” said Hoogewerf.
“Quality companies should focus on value creation, not just sales figures. Hengrui Medicine, for example, had revenues of US$3bn last year, but a market value of close to US$60bn. Retail pharmacy stores business Shanghai Pharmaceuticals by contrast had revenues of almost US$30bn but a market cap of ‘only’ US$7bn."
Healthcare is the third largest industry for non-state controlled companies in China, after manufacturing and real estate. 66 companies made it to the Hurun China 500 Most Valuable Private Companies 2019, released in early January.
This is a brief English language summary of the full Chinese press release which can be found at www.hurun.net. For media enquiries please contact our public relations team whose contact details can be found at the end of this report.
Top Ten – Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020
In the Top 10, Lianyungang, Shanghai and Beijing has the most companies with 2. The cut-off to make the Top 10 was US$14.3bn.
Corporation | Co Value US$bn | Sub sector | Headquarters | |
1 | Hengrui Medicine | 53.1 | Life Sciences | Lianyungang |
2 | Mindray | 41.6 | Medical equipment | Shenzhen |
3 | WuXi AppTec | 25.0 | Life Sciences | Shanghai |
4 | AliHealth | 23.1 | Health Tech | Beijing |
5 | Yangtze River Pharmaceutical Group | 20.7 | Life Sciences | Taizhou |
6 | Hansoh Pharmaceutical | 20.1 | Life Sciences | Lianyungang |
7 | WuXi Biologics | 19.0 | Life Sciences | Shanghai |
8 | Sino Biopharmaceutical | 18.3 | Life Sciences | Beijing |
9 | AIER Eye Hospital Group | 17.7 | Medical Services | Changsha |
10 | CSPC Pharmaceutical Group | 14.3 | Pharmaceutical Industry | Shijiazhuang |
Source:Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020
Hengrui Medicine is the most valuable private healthcare enterprise with a market value of US$53.1bn. They have applied for 650 domestic patents, possess 140 domestically-authorized patents, and 200 patents in Europe, America and Japan. Hengrui Medicine's operating income in the first three quarters of last year was US$2.4bn, an increase of 36% year-on-year with net profit US$563mn, up 28%.
Mindray Bio-Medical Electronics was second with a market value of US$41.6bn. Set-up in 1991, Mindray has become China's largest supplier of medical devices, sold today across most of the world. Its main products include patient monitoring & life support products, including ventilators, defibrillators, ECG machines, pulse oxymeters and hospital beds.
WuXi AppTec ranked 3rd with a market value of US$25bn. Established in December 2000, WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients. 60% of its 23,000 employees have phd’s.
AliHealth ranked 4th with a market value of US$23.1bn. AliHealth is a comprehensive online medical platform. AliHealth is mainly engaged in medical e-commerce business, and is also actively exploring Internet medical and smart medical related business, using information technology, AI and big data technology to help offline institutions improve operational efficiency and service experience.
Yangtze River Pharmaceutical Group ranked 5th with a market value of US$20.7bn. Founded in 1971 Yangtze River Pharmaceutical Group's main products include both Chinese and Western medicines, and both prescription and non-prescription medicines. It has formed more than 10 series including cardio-cerebral vascular drugs, antimicrobial drugs, digestive system drugs, antitumor drugs, antipyretic and analgesics, etc., covering more than 20 dosage forms and more than 200 product specifications.
Hansoh Pharmaceutical ranked 6th with a market value of US$20.1bn. The company has established a leading position in some of China's largest and fastest-growing therapeutic areas with significant unmet clinical needs, including central nervous system disease, antitumor, anti-infection and diabetes.
WuXi Biologics ranked 7th with a market value of US$19bn. The company was founded in 2010 and initially provided customers with cell line incubation and protein analysis services. After several years of development, the company's business has expanded to new biological drug discovery, new biological drug development, biological testing and GMP production. With high-standard production bases around the world and a strong scientific research team, WuXi Biologics has grown into an open biopharmaceutical technology platform company providing one-stop services from concept to commercial. In 2017, WuXi Biologics was listed on the Hong Kong Stock Exchange.
Sino Biopharmaceutical ranked 8th with a market value of US$18.3bn. The group's business covers the entire industrial chain of various pharmaceutical R&D platforms, intelligent production and a strong sales system. Its products include a variety of biological drugs and chemical drugs, and it is in an advantageous position in many promising therapeutic fields such as tumors, liver diseases, respiratory drugs, analgesics, cardiovascular and cerebrovascular diseases, orthopedic diseases.
Aier Eye Hospital Group ranked 9th with a market value of US$17.7bn. Aier was listed in 2009, when it had a market value of only US$1bn.
CSPC Pharmaceutical Group ranked 10th with a market value of US$14.3bn. CSPC originally produced APIs. In 1999, they obtained a national patent for a new class of drugs, butylphthalide. Butylphthalide was put on the market in 2005. CSPC has gradually evolved from an API manufacturer to an innovative drug manufacturer. The main products include vitamins, antibiotics, innovative drugs, brand drugs and generic drugs.
Compared with 5yrs and 10yrs ago
Five and ten years ago, there were traditional Chinese medicine companies in the Top 10 such as Guilin Sanjin Pharmaceutical and Jointown Pharmaceutical Group. Today there are no TCM companies in the Top 10.
Top 10 five years ago | Top 10 ten years ago | |||||
Corporation | Co Value US$bn | Corporation | Co Value US$bn | |||
1 | Shanghai RAAS | 9.3 | 1 | Hengrui Medicine | 4.2 | |
2 | Hengrui Medicine | 8.8 | 2 | WEGO Group | 3.8 | |
3 | Fosun Pharma | 7.1 | 3 | Fosun Pharma | 3.5 | |
4 | Tasly Pharmaceutical Group | 6.4 | 4 | Hualan Biological Engineering | 2.9 | |
5 | Sihuan Pharmaceutical | 5.2 | 5 | NHU | 2.1 | |
6 | Jointown Pharmaceutical Group | 5.1 | 6 | Zhejiang Pharmaceutical | 2.0 | |
7 | AliHealth | 4.9 | 7 | Joincare Pharmaceutical | 1.9 | |
8 | CSPC Pharmaceutical Group | 4.1 | 7 | Tasly Pharmaceutical Group | 1.9 | |
8 | Sino Biopharmaceutical | 4.1 | 7 | Guilin Sanjin Pharmaceutical | 1.9 | |
10 | Salubris Pharmaceuticals | 3.5 | 10 | Salubris Pharmaceuticals | 1.5 |
Source: Hurun Research Institute
Top Ten Most Valuable Healthcare Companies in the World 2020
Six of the Top 10 most valuable healthcare businesses in the world are from the USA, followed by Switzerland with 2 and one from each of Ireland and Denmark.
Corporation | Value US$bn | Headquarters | |
1 | Johnson & Johnson | 350 | USA |
2 | UnitedHealth Group | 240 | USA |
3 | Roche Holding | 224 | Switzerland |
4 | Merck & Co | 194 | USA |
5 | Novartis | 190 | Switzerland |
6 | Pfizer | 186 | USA |
7 | Novo Nordisk | 140 | Denmark |
8 | Abbott Laboratories | 136 | USA |
9 | Medtronic | 134 | Ireland |
10 | AbbVie | 130 | USA |
Source: Hurun Research Institute
Top Five Most Valuable Non-State-Controlled Insurance Companies in China
Hoogewerf said, “Insurance companies have been playing a key role in the development of China’s healthcare sector, led by the likes of Ping An and Taikang.”
Corporation | Co Value US$bn | Headquarters | Chairperson | |
1 | Ping An Insurance | 200 | Shenzhen | Ma Mingzhe |
2 | Taikang Insurance | 30.8 | Beijing | Chen Dongsheng |
3 | Sunshine Insurance Group | 6.2 | Shenzhen | Zhang Weigong |
4 | Zhongan Insurance | 6.1 | Shanghai | Ou Yaping |
5 | Foresea Life Insurance | 3.4 | Shenzhen | Zhang Jinshun |
Source: Hurun Research Institute
Investment into R&D
The Top 10 spent approximately 10% on R&D investment, led by Hengrui Medicine with 15%.
Geographic Distribution
By city, Shanghai and Beijing led the way with 14 and 12, followed by Hangzhou and Shenzhen. By province, Guangdong was top with 16 companies on the list, followed by Zhejiang and Shanghai ranked 2nd. Beijing ranked 4th with 12 and Jiangsu ranked 5th with 11.
Headquarters by province | No. of companies | Headquarters by city | No. of companies | |||
1 | Guangdong | 16 | 1 | Shanghai | 14 | |
2 | Shanghai | 14 | 2 | Beijing | 12 | |
2 | Zhejiang | 14 | 3 | Shenzhen | 9 | |
4 | Beijing | 12 | 3 | Hangzhou | 9 | |
5 | Jiangsu | 11 | 5 | Guangzhou | 4 | |
6 | Hubei | 4 | 5 | Chengdu | 4 | |
6 | Sichuan | 4 | 7 | Zhuhai | 3 | |
8 | Hebei | 3 | 7 | Shijiazhuang | 3 | |
8 | Hunan | 3 | 7 | Nanjing | 3 | |
8 | Jilin | 3 | 7 | Suzhou | 3 | |
8 | Jiangxi | 3 | 7 | Tianjin | 3 | |
8 | Tianjin | 3 | 12 | Hefei | 2 | |
13 | Anhui | 2 | 12 | Wuhan | 2 | |
13 | Henan | 2 | 12 | Changsha | 2 | |
13 | Shandong | 2 | 12 | Lianyungang | 2 | |
16 | Fujian | 1 | 12 | Nanchang | 2 | |
16 | Hainan | 1 | 12 | Taizhou | 2 | |
16 | Liaoning | 1 | ||||
16 | Shaanxi | 1 | ||||
16 | Tibet | 1 | ||||
16 | Yunnan | 1 |
Source:Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020
Which industries did best?
Drug cos led the way with 62, followed by producers of medical devices and medical services.
Industries | No. of Cos | Representative Companies | |
1 | Drug companies | 62 | Hengrui Medicine, WuXi AppTec, Yangtze River Pharmaceutical Group, Hansoh Pharmaceutical, WuXi Biologics, Sino Biopharmaceutical, CSPC Pharmaceutical Group |
2 | Medical devices | 17 | Mindray Bio-Medical Electronics, Lepu Medical Technology, WEGO Group |
3 | Medical services | 15 | Aier Eye Hospital, Evergrande Health, Health 100 |
4 | Health Tech | 5 | AliHealth, Ping An Healthcare And Technology, Ping An Healthcare Technology |
5 | Genomics | 2 | Antobio, BGI Genomics |
5 | Vaccinations | 2 | Zhifei Biological, CanSinoBIO |
Source:Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020
Coronavirus impact on valuations
Between 20 January, when the coronavirus hit the markets in China and 28 February, the cut-off date for the Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020, the market value of some healthcare companies grew significantly.
Medical product business Allmed saw its share price double in this period, as demand for its products shot through the roof. Respiration equipment provider Yuyue rose 62%.
Corporation | Market value increase from 20 Jan to 28 Feb 2020 | Company Value US$bn | |
1 | Allmed Medical Products | 92% | 3 |
2 | Yuyue Medical Equipment And Supply | 62% | 5 |
3 | Winning Health Technology | 57% | 6 |
4 | AliHealth | 51% | 23.1 |
5 | BrightGene Bio-Medical Technology | 48% | 3.7 |
6 | Neptunus Bioengineering | 46% | 2.3 |
7 | Blue Sail Medical | 40% | 2.4 |
8 | AK Medical Holdings | 31% | 2.1 |
9 | CanSinoBIO | 28% | 2.3 |
10 | Kinetic Medical | 27% | 2.1 |
Source: Hurun Research Institute
About Hurun Report Inc.
Promoting Entrepreneurship through Quality Lists and Research
Hurun Report generated 300 million views globally on average every month last year, through putting out lists and research.
Established in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today.
Hurun Research Institute ‘World’s Largest Rich List Provider’
2020 marks the 21st anniversary of Hurun Report, highlighting the fastest wealth creating period in the history of the world.
The Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business. This has changed the way the world looks at Chinese women in business.
The Hurun China Philanthropy List ranks the most generous individuals in China and is now in its 15th anniversary. With no inheritance tax, Chinese give much more generously than many have previously understood.
Two recent lists with an impact include the Hurun China Unicorn Index, ranking the most dynamic businesses with a valuation of US$1bn or more in China; and the Hurun Most Successful University Alumni.
In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.
‘World Authority on the Chinese High Net Worth Individual’
Recent research partners include financial institutions (PingAn, Bank of China, Taikang Life, Minsheng, Citic), local government (Shanghai, Changbaishan) and Global 500 multinationals (Marriott, Country Garden, Agile, Audi, Volvo).
Three breakthrough lists this past year: Hurun Good Doctors’ List, a ranking of the 9500 most respected doctors in China, broken down by region and speciality; Hurun Best International Schools List; and Hurun Creative Works Intellectual Property List, in Search of the Harry Potter of China, ranking those online novels with the most valuable IPs.
The Hurun Art List ranks the top artists alive today in China for the 12th year and has become a household name amongst artists.
Media and Events
The Hurun brand has become one of the few non-Chinese media brands to become a household name across China.
Hurun Media monetizes 2 million views a month in China, through its wechat, weibo, website and legacy magazine.
Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year in China, with 200 entrepreneurs from the Hurun China Rich List attending.
Hurun Report kicked off the world's largest Chinese New Year dinner series in Shanghai in 2019 on January 16, and is going to 8 cities across 4 continents. Toronto on Jan 20, New York Jan 23, LA Jan 25, London Jan 28, Istanbul Jan 29, Luxembourg Jan 31 and ending up in Sydney on Feb 18. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.
Investments
Hurun Investments has a portfolio of 20 companies with a market value of US$50 million, with investments into tech, media, design, education as well as a vintage car race and a tailor.
Hurun China 100 Most Valuable Non-State-Controlled Healthcare Companies 2020
Rank | Corporation | Co Value US$bn | Industry | Headquarters | Headquarters (City) |
1 | Hengrui Medicine | 53.1 | Drugs | Jiangsu | Lianyungang |
2 | Mindray Bio-Medical Electronics | 41.6 | Medical devices | Guangdong | Shenzhen |
3 | WuXi AppTec | 25.0 | Drugs | Shanghai | Shanghai |
4 | AliHealth | 23.1 | Health Tech | Beijing | Beijing |
5 | Yangtze River Pharmaceutical | 20.7 | Drugs | Jiangsu | Taizhou |
6 | Hansoh Pharmaceutical | 20.1 | Drugs | Jiangsu | Lianyungang |
7 | WuXi Biologics | 19.0 | Drugs | Shanghai | Shanghai |
8 | Sino Biopharmaceutical | 18.3 | Drugs | Beijing | Beijing |
9 | AIER Eye Hospital Group | 17.7 | Medical Services | Hunan | Changsha |
10 | CSPC Pharmaceutical | 14.3 | Drugs | Hebei | Shijiazhuang |
11 | Zhifei Biological | 13.7 | Vacinations | Chongqing | Chongqing |
12 | BeiGene | 11.9 | Drugs | Beijing | Beijing |
13 | PingAn Good Doctors | 10.4 | Health Tech | Shanghai | Shanghai |
14 | Kangtai Biological Products | 10.3 | Drugs | Guangdong | Shenzhen |
15 | Fosun Pharma | 9.3 | Drugs | Shanghai | Shanghai |
16 | Lepu Medical Technology | 8.7 | Medical devices | Beijing | Beijing |
17 | Ping An Healthcare Technology | 8.6 | Health Tech | Shanghai | Shanghai |
18 | Hualan Biological Engineering | 8.3 | Drugs | Henan | Xinxiang |
19 | Tigermed | 8.1 | Drugs | Zhejiang | Hangzhou |
20 | Evergrande Health | 8.0 | Medical Services | Guangdong | Guangzhou |
21 | Health 100 | 7.4 | Medical Services | Shanghai | Shanghai |
21 | NHU | 7.4 | Drugs | Zhejiang | Shaoxing |
21 | Antobio | 7.4 | Genomics | Henan | Zhengzhou |
24 | JD Health | 6.9 | Health Tech | Beijing | Beijing |
25 | Shanghai RAAS | 6.4 | Drugs | Shanghai | Shanghai |
26 | Pharmaron | 6.3 | Drugs | Beijing | Beijing |
26 | Walvax Biotechnology | 6.3 | Drugs | Yunnan | Kunming |
28 | Innovent Biologics | 6.1 | Drugs | Jiangsu | Suzhou |
29 | Winning Health Technology | 6.0 | Medical Services | Shanghai | Shanghai |
30 | WEGO Group | 5.9 | Medical devices | Shandong | Weihai |
30 | Bloomage Biotechnology | 5.9 | Drugs | Beijing | Beijing |
30 | Asymchem Laboratories | 5.9 | Drugs | Tianjin | Tianjin |
33 | Wedoctor | 5.6 | Health Tech | Zhejiang | Hangzhou |
33 | Buchang Group | 5.6 | Drugs | Beijing | Beijing |
35 | Jafron Biomedical | 5.4 | Medical devices | Guangdong | Zhuhai |
36 | King-Friend Biochemical Pharmaceutical | 5.1 | Drugs | Jiangsu | Nanjing |
37 | United Imaging | 5.0 | Medical devices | Shanghai | Shanghai |
37 | Yuyue Medical Equipment And Supply | 5.0 | Medical devices | Jiangsu | Zhenjiang |
39 | Huadong Medicine | 4.9 | Drugs | Zhejiang | Hangzhou |
39 | Jemincare | 4.9 | Drugs | Jiangxi | Nanchang |
41 | Top Choice Medical | 4.7 | Medical devices | Zhejiang | Hangzhou |
41 | Kelun Pharmaceutical | 4.7 | Drugs | Sichuan | Chengdu |
41 | BGI Genomics | 4.7 | Genomics | Guangdong | Shenzhen |
44 | Betta Pharmaceutical | 4.6 | Drugs | Zhejiang | Hangzhou |
44 | Hepalink Pharmaceutical | 4.6 | Drugs | Guangdong | Shenzhen |
46 | Yifeng Pharmacy Chain | 4.4 | Medical Services | Hunan | Changde |
46 | China Biologic Products | 4.4 | Drugs | Beijing | Beijing |
48 | Jointown Pharmaceutical | 4.3 | Medical Services | Hubei | Wuhan |
48 | Livzon Pharmaceutica | 4.3 | Drugs | Guangdong | Zhuhai |
50 | Dashenlin Pharmaceutical | 4.1 | Medical Services | Guangdong | Guangzhou |
50 | Kanghong Pharmaceuticals | 4.1 | Drugs | Sichuan | Chengdu |
52 | Zailab | 4.0 | Drugs | Shanghai | Shanghai |
52 | Huahai Pharmaceutical | 4.0 | Drugs | Zhejiang | Taizhou |
54 | Double Medical Technology | 3.9 | Medical devices | Fujian | Xiamen |
54 | Genscript | 3.9 | Drugs | Jiangsu | Nanjing |
56 | BrightGene Bio-Medical Technology | 3.7 | Drugs | Jiangsu | Suzhou |
56 | By-Health | 3.7 | Drugs | Guangdong | Zhuhai |
58 | Kingmed Diagnostics | 3.6 | Medical Services | Guangdong | Guangzhou |
58 | Xiuzheng | 3.6 | Drugs | Jilin | Changchun |
58 | Junshi Biosciences | 3.6 | Drugs | Shanghai | Shanghai |
61 | Micro-Tech | 3.4 | Medical devices | Jiangsu | Nanjing |
61 | Yifan Xinfu Pharmaceutical | 3.4 | Drugs | Zhejiang | Hangzhou |
61 | Haisco Pharmaceutical | 3.4 | Drugs | Tibet | Shannan |
64 | Orthok | 3.3 | Medical devices | Anhui | Hefei |
64 | Wolwo Pharma | 3.3 | Drugs | Zhejiang | Huzhou |
64 | Tasly Pharmaceutical | 3.3 | Drugs | Tianjin | Tianjin |
64 | Tonghua Dongbao Pharmaceutical | 3.3 | Drugs | Jilin | Tonghua |
68 | Wondfo Biotech | 3.1 | Medical Services | Guangdong | Guangzhou |
68 | Jinxin Fertility | 3.1 | Medical Services | Sichuan | Chengdu |
68 | Joincare Pharmaceutical | 3.1 | Drugs | Guangdong | Shenzhen |
68 | Chipscreen Biosciences | 3.1 | Drugs | Guangdong | Shenzhen |
72 | Allmed Medical Products | 3.0 | Medical devices | Hubei | Zhijiang |
72 | China Medical System | 3.0 | Medical Services | Guangdong | Shenzhen |
74 | Lbx Pharmacy Chain | 2.9 | Medical Services | Hunan | Changsha |
74 | Henlius Biotech | 2.9 | Drugs | Shanghai | Shanghai |
74 | YanAn Bicon | 2.9 | Drugs | Shanxi | Yanan |
77 | Jilin Aodong Pharmaceutical | 2.7 | Drugs | Jilin | Dunhua |
77 | Salubris Pharmaceuticals | 2.7 | Drugs | Guangdong | Shenzhen |
77 | Yiling Pharmaceutical | 2.7 | Drugs | Hebei | Shijiazhuang |
77 | Jumpcan | 2.7 | Drugs | Jiangsu | Taixing |
77 | Humanwell Healthcare | 2.7 | Drugs | Hubei | Wuhan |
77 | HEC | 2.7 | Drugs | Hubei | Yidu |
83 | 3Sbio | 2.6 | Drugs | Liaoning | Shenyang |
83 | SSY Group | 2.6 | Drugs | Hebei | Shijiazhuang |
85 | Maccura Biotechnology | 2.4 | Medical devices | Sichuan | Chengdu |
85 | Venus Medtech | 2.4 | Medical devices | Zhejiang | Hangzhou |
85 | MicroPort Scientific | 2.4 | Medical devices | Shanghai | Shanghai |
85 | Blue Sail Medical | 2.4 | Medical devices | Shandong | Zibo |
85 | Poly Pharm | 2.4 | Drugs | Hainan | Haikou |
85 | Chimin Health Management | 2.4 | Drugs | Zhejiang | Taizhou |
91 | Dian Diagnostics | 2.3 | Medical Services | Zhejiang | Hangzhou |
91 | Neptunus Bioengineering | 2.3 | Medical Services | Guangdong | Shenzhen |
91 | Conba Pharmaceutical | 2.3 | Drugs | Zhejiang | Hangzhou |
91 | Anke Biotechnology | 2.3 | Drugs | Anhui | Hefei |
91 | Jiuzhou Pharmaceutical | 2.3 | Drugs | Zhejiang | Taizhou |
91 | CanSinoBIO | 2.3 | Vacinations | Tianjin | Tianjin |
97 | Ak Medical Holdings | 2.1 | Medical devices | Beijing | Beijing |
97 | Kinetic Medical | 2.1 | Medical devices | Shanghai | Shanghai |
97 | Cowell Health | 2.1 | Medical Services | Beijing | Beijing |
97 | Grand Pharmaceutical and Healthcare | 2.1 | Drugs | Beijing | Beijing |
97 | Boya Bio-pharmaceutical | 2.1 | Drugs | Jiangxi | Fuzhou |
97 | Renhe Pharmacy | 2.1 | Drugs | Jiangxi | Nanchang |
97 | Alphamab Oncology | 2.1 | Drugs | Jiangsu | Suzhou |
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