Miaoshou Doctor
Funding History
| Series C3 · 07/2019 | $1.0B |
|---|---|
| Series F · 08/2021 | $4.3B |
| Sixth HKEX IPO Filing · 04/2026 | $2.7B |
About
Miaoshou Doctor is the consumer-facing health app operated by Beijing Yuanxin Technology Group, founded in Beijing in March 2015 by He Tao, a former CEO of pharmaceutical e-commerce platform Health 1 Net. The company runs a network of hospital-adjacent pharmacies alongside an internet hospital and health-insurance business, coordinating patients, physicians, and drugmakers around prescription access and post-diagnosis care.
- CEO
- He Tao
- Headquarters
- Beijing, China
- Founded
- 2015
- Website
- miaoshou.net
Overview
Miaoshou Doctor is the consumer-facing health app operated by Beijing Yuanxin Technology Group, founded in Beijing in March 2015 by He Tao, a former CEO of pharmaceutical e-commerce platform Health 1 Net. The company runs a network of hospital-adjacent pharmacies alongside an internet hospital and health-insurance business, coordinating patients, physicians, and drugmakers around prescription access and post-diagnosis care.
Yuanxin has raised roughly $934 million across five disclosed priced rounds between 2018 and 2021, reaching unicorn status in a 2019 Series C3 round and peaking at an estimated $4.25 billion valuation in its August 2021 Series F round led by Sequoia Capital China. Other investors across its history include Tencent, Qiming Venture Partners, Starquest Capital, CITIC Securities, CICC Capital, OrbiMed, and INCE Capital.
The company has tried and failed to list on the Hong Kong Stock Exchange five times since October 2021, including a listing hearing it passed in February 2024 that lapsed without a public offering. It filed a sixth application in April 2026 at a reduced valuation of about $2.7 billion, alongside a period of shrinking its offline pharmacy network from 335 stores in 2023 to 201 in 2025 and narrowing its annual net loss to roughly 401 million yuan.
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