Weining Technology Secures RMB 300 Million Series C Funding to Advance Digital Risk Control Solutions for Medical and Commercial Health Insurance

Shanghai Kingstar Winning Software Science and Technology Co., Ltd. (hereinafter referred to as “Winning Health”) recently completed a C-round financing of RMB 300 million. This round was solely led by Taiping Medical Health Fund, a subsidiary of China Taiping Insurance Group, with participation from Cathay Capital, CEC Data, SND Hi-Tech, and Tiliang Investment. China Renaissance served as the exclusive financial advisor to Winning Health in this transaction. The funds raised will be used to continuously increase investment in research and development, support the expansion of new businesses, and enhance business functional attributes.

Winning Health Technology, founded in 2012, is a leading domestic provider of digital risk control solutions and services for medical insurance and commercial insurance. By leveraging technology to reduce costs and enhance efficiency within the medical security system, the company strives to contribute to China’s major strategic initiative of “accelerating digital development and building a Digital China.” In 2019, Winning Health Technology exclusively won the bid to construct two core subsystems of the National Healthcare Security Administration’s Medical Security Information Platform: the “Fund Operation and Audit Supervision System” and the “Intelligent Medical Security Supervision System.” Subsequently, its business footprint rapidly expanded across China, covering 70% of provinces and municipalities, serving over 1,400 hospitals, and establishing itself as the most comprehensive, widely covered, and highly effective overall risk control solution provider within the medical insurance system.

Since 2021, in active alignment with national industrial policies advocating the development of a multi-tiered medical security system, Winning Health has proactively expanded its business layout into the commercial health insurance sector. By advancing at a steady pace, the company has built robust core technological capabilities and established competitive barriers, adhering to a technology-driven approach to rapidly enlarge its business footprint. It has successfully transferred its proven experience from the basic medical insurance system to the commercial insurance sphere, providing full-value-chain technical support to commercial insurers as they expand their commercial health insurance offerings. This has effectively helped insurers “increase revenue, reduce costs, and ensure operational security,” earning widespread and favorable market recognition.

In the future, Winning Health Technology will uphold a pragmatic approach, remain committed to technology empowerment, and, guided by national industrial policies, continue to develop high-standard digital solutions that meet market demands. It will provide efficient and reliable cost-control and regulatory services for both basic medical insurance and commercial health insurance systems, create diversified and multi-tiered health insurance products, and expand and deepen healthcare coverage to benefit the general public.

Ms. Lu Shanshan, Deputy General Manager of Taiping Innovation Investment Management Co., Ltd.“Weining Technology is a leading domestic provider of digital risk control solutions and services for medical insurance and commercial insurance. Over the eleven years since its establishment, the company has diligently contributed to the development of digital infrastructure for national medical insurance and commercial insurance. The founding team has remained dedicated to its core business, upheld ethical standards, built a robust product system, and established strong competitive barriers. We have every reason to believe that Weining Technology is capable and well-positioned to achieve rapid growth in its operational performance while creating core value for its medical and commercial insurance clients. Weining Technology’s core business offers significant synergies with our primary insurance operations. We will work hand in hand with Weining Technology to support national policies aimed at building a multi-tiered medical security system and leverage Taiping’s ‘Insurance + Medical, Elderly Care, and Wellness’ ecosystem to develop high-quality commercial health insurance products that benefit the public.”

Ms. Duan Lanchun, Managing Partner of Cathay CapitalIt stated: “Leveraging its accumulated experience and advantages in the ‘basic medical insurance + commercial insurance’ sector, Winning Health applies technologies such as big data and artificial intelligence to provide digital risk control solutions for medical insurance authorities at all levels and healthcare institutions, while establishing partnerships with multiple large commercial insurance companies. The empowerment of the healthcare sector by next-generation information technology has become a new industry trend. At this critical stage of basic medical insurance payment system reform and rapid commercial insurance development, Winning Health safeguards industry progress by leveraging technology as its driving force and professional services as its foundation. We look forward to Winning Health’s continued refinement of its products and technologies, contributing to the high-quality, sustainable development of China’s multi-tiered medical security system.”

Mr. Li Shifeng, Chairman of China Electronics DataHe stated, “We highly recognize Winning Health’s data capabilities and competitive advantages in the field of medical insurance data, particularly regarding future data applications in commercial health insurance. Meanwhile, CEC Data will join forces with Winning Health in undertaking national digital engineering and healthcare system engineering projects, leveraging our respective strengths to create a synergistic effect.”

Mr. Zhou Qian, Investment Director of Su Gaoxin Financial Holdings“It stated: ‘As China’s economy develops, issues such as population aging and declining birth rates are emerging as a series of new challenges to the country’s demographic structure, while the basic medical insurance system continues to face mounting pressure. By entering the market through national-level projects in both basic medical insurance and commercial health insurance, Winning Health Technology is building a national information platform—a move of significant importance and far-reaching impact in today’s rapidly growing digital economy. Leveraging comprehensive, full-scope data and extensive experience to develop unique models and algorithms, and drawing on its strong business advantages and partner resources across the basic medical insurance, hospital, and pharmacy sectors, Winning Health Technology adopts a point-to-area strategy to provide integrated solutions for commercial health insurance. This approach drives the iterative upgrading and product innovation of health insurance offerings. On the basic medical insurance side, aligned with national policies and governance needs and trends, the company continuously promotes innovations in intelligent regulatory supervision, payment method management, and medical insurance fund management. We are honored to participate as an investor in this funding round, helping Winning Health Technology accelerate the improvement of its industrial layout in the broader health insurance sector, actively respond to the new requirements put forth by the state for both basic medical insurance and commercial health insurance, and answer the new call for informatization and digitalization, thereby building China’s most comprehensive commercial health insurance technology platform.’”

Tiliang Investment“He stated, ‘First of all, congratulations to Shanghai Kingstar Winning Software Science and Technology CO., LTD. on the completion of its Series C financing. Tiliang Investment is also honored to have participated in this round. The company focuses on the development of medical security fund supervision systems, having established and accumulated a unique knowledge base system for healthcare and insurance. It also possesses the potential to expand into multiple business lines from the medical insurance sector to commercial insurance providers and hospitals. We look forward to the company leveraging data and algorithms to support medical insurance reforms, enhancing industry efficiency through technology, facilitating comprehensive connectivity via its platform, and empowering all stakeholders through services. By continuously exploring new opportunities for collaboration, we aim to jointly build a new ecosystem for China’s health industry.’”

Mr. Li Gang, Partner at China Renaissance CapitalHe stated, “The National Healthcare Security Administration (NHSA) insurance scheme is directly linked to the well-being of our entire population. The company’s products and services enable intelligent monitoring of the national healthcare security fund and provide big data analytics solutions to support macro-level policy decision-making, thereby safeguarding the safe and efficient utilization of healthcare security funds. Meanwhile, the company offers integrated solutions for commercial health insurance, ultimately forming an integrated solution that combines public healthcare security with commercial insurance, thus contributing to the development of China’s multi-tiered healthcare security system. The company’s role and positioning are highly distinctive. We are honored to work hand in hand with the company under the national overarching policy promoting equity and accessibility in healthcare resources.”