On July 12, Guoke Hengtai, an investee company of the sub-funds backed by the mother fund managed by Yuanhe Chencun—specifically Northern Light Venture Capital, Guoke Jiahe, and Tonghe Yucheng Investment—was listed on the ChiNext Board, with stock code: 301370.

Founded in 2013, Guoke Hengtai specializes in the medical device sector, offering tailored, end-to-end supply chain solutions to manufacturing clients, distributors/dealers, and healthcare institutions. The company provides comprehensive supply chain services that ensure "a single medical device product—from the manufacturer to its use in the operating room"—while remaining committed to advancing public health and supporting China's ongoing healthcare reform initiatives. Drawing on successful overseas models from the high-value medical consumables distribution industry, Guoke Hengtai has strategically positioned itself by focusing on this niche market. Leveraging its expert services and integrating resources across the industry’s upstream and downstream sectors, the company has pioneered an innovative "one-stop distribution platform + hospital-end service model."

First, Guoke Hengtai has established a comprehensive "one-stop distribution platform," taking on the role of channel management for upstream manufacturers. This approach reduces enterprise management and communication costs, strengthens channel control, and simultaneously streamlines the distributor hierarchy by cutting down on unnecessary transaction steps, resulting in a more streamlined, transparent, and efficient supply chain. Additionally, Guoke Hengtai integrates alternative warehousing, logistics, and delivery services, enabling flexible trading options that ease the financial burden of inventory holding for small- and medium-sized distributors. By lowering the barriers to entry for distributors and expanding market reach, the platform fosters a win-win situation for original manufacturers, distributors, and Guoke Hengtai itself.

Secondly, Guoke Hengtai has established a comprehensive "Hospital-Side Service Platform." As of the end of 2022, Guoke Hengtai had set up 124 branches and subsidiaries across 68 cities in 31 provinces, municipalities, and autonomous regions nationwide, creating a hospital-side service network that spans major cities across China. Leveraging its robust upstream resources and customer advantages, the company now manages medical device products from nearly 1,500 brands at the hospital level, covering over 2,000 product lines to meet hospitals' one-stop procurement needs.

Another innovative highlight of Guoke Hengtai is its independently developed medical device supply chain information management system, which has been refined over a decade through continuous iteration based on the company's extensive, multi-faceted business scenarios. This system has enabled the establishment of an "integrated online-and-offline supply chain service model."

After a decade of growth, Guoke Hengtai has achieved comprehensive coverage across high- and low-value consumables, medical devices, and IVD products, seamlessly integrating the entire value chain—from manufacturers to clinical departments. The company now provides specialized services to over 100 leading global medical device manufacturers and more than 4,000 hospitals worldwide, establishing a nationwide operational network that ensures delivery within two hours to over 80% of Grade III hospitals across China. Today, Guoke Hengtai has become an authorized distribution platform for renowned domestic and international medical device brands, including Boston Scientific, Medtronic, Stryker, Zimmer Biomet, B. Braun Medical, Maani, Shandong Weigao, Abbott, Tianjin Richi, and Chunli Medical, among others.

The funds raised from this IPO will be primarily allocated to the construction of a third-party medical device logistics project and to bolster working capital. Moving forward, Guoke Hengtai will continue to align with the national drive toward achieving high-level scientific and technological self-reliance and strengthening industrial chains. The company aims to further enhance the service capabilities of its digital ecosystem platform for medical device supply chains, expanding the value-added services offered by its information systems. Ultimately, Guoke Hengtai aspires to evolve into a comprehensive, end-to-end digital supply chain service provider for medical devices.