Yishi Sleep Files IPO Prospectus: Pioneering an Integrated Medical-Grade Sleep Health Ecosystem

Insomnia is an endless wandering above the pillow, and countless sleepless nights have given rise to a trillion-dollar blue ocean in the sleep economy.

According to the "Latest Survey Data on Global Sleep Status and Sleep Awareness and Recent Advances in Sleep Medicine" released by the Sleep Medicine Professional Committee of the Chinese Medical Doctor Association, 30.9% of individuals require more than 30 minutes to fall asleep, and 0.9% rely on sleep aids to initiate sleep, indicating that sleep disorders afflict a substantial portion of the population. The "2021 White Paper on Exercise and Sleep" further reveals that over 300 million people in China currently suffer from sleep disorders, with the prevalence of insomnia among Chinese adults reaching as high as 38.2%.

This has placed China’s sleep economy on a trajectory of rapid growth. According to data from iiMedia Research, the market size of China’s sleep economy grew from RMB 261.63 billion in 2016 to RMB 377.86 billion in 2020, representing a 44.42% increase. The market size is projected to surpass RMB 1 trillion by 2030.

Chronic sleep deprivation not only leads to physical and mental exhaustion but may also act as a “chronic poison” that triggers a range of conditions, including heart disease, respiratory problems, hypertension, obesity, and chronic pain, thereby increasing the risk of developing these disorders.

Shanghai Yishi Biomedical Technology Co., Ltd. (hereinafter referred to as “Yishi Sleep”)Founded in 2019 and located in Shentian High-Tech Park, Songjiang District, Shanghai, it is aFocusing on Sleep Quality Solutions,A Group Enterprise Integrating Operations, R&D, and Production。Yi Shi Sleep has now been establishedSleep Internet Online Hospital, and by layingOffline Chain Sleep Charging Stations, filling the gap in China's sleep health management sector.

Yi Shi Sleep Internet Hospital is one of the first internet hospitals in China themed around sleep, offeringSleep Science Popularization,Online Consultation, Test Appointment, Diagnosis and Treatment, Follow-up Trackingend-to-end services and comprehensive solutions.

Given that sleep disorders often precipitate other medical conditions, Yishi Sleep Internet Hospital integrates multiple specialties—including Respiratory Medicine, Neurology, Cardiology, Endocrinology, Geriatrics, Obstetrics and Gynecology, Traditional Chinese Medicine, and Rehabilitation Medicine—to ensure treatment efficacy and healthcare accessibility, thereby effectively addressing users’ sleep issues.

Partial Feature Showcase of Yishi Online Hospital

Meanwhile, Yi Shi Sleep is actively “building its capabilities” by implementing a matrix-style product layout centered around sleep scenarios. On the internet hospital platform, users can not only access online services such as sleep consultations and medical diagnoses but also purchase a wide variety of sleep-related products through the e-commerce marketplace.

In the offline sector, Yishi Sleep has established over a dozen chain sleep charging stations in Shanghai, serving nearly 5,000 individuals. Currently, all stores operate under a direct management model by the headquarters to ensure consistent service quality and standardized management.

From professional diagnostic and treatment services, R&D and sales systems, operational management systems, and talent development frameworks to store fit-out implementation, Yishi Sleep has refined a comprehensive SOP-based standard model over three years of exploration. For instance, on the service side, services have been productized and bundled into packages. Sleep therapists can match appropriate product packages to users’ individual sleep conditions and needs, thereby improving service efficiency and enhancing customer satisfaction.

YiShi Sleep Offline Sleep Charging Station

Existing domestic providers of sleep solutions generally fall into three categories: mattress or home goods manufacturers, which primarily offer targeted sleep-related home products centered on specific sleep environments; massage and physiotherapy clinics, which mainly provide sleep-related assessments along with massage and therapeutic conditioning; and hospitals with specialized sleep medicine departments, where professional physicians deliver expert sleep treatment plans.

Lin Shiyu, founder of Yishi Sleep, pointed out that with the awakening of sleep health awareness, more and more people are beginning to pay attention to their sleep and are willing to spend, invest, and manage their health for better sleep. Yishi Sleep aims to integrate and improve its service system, connect the upstream and downstream of the industry, and provide comprehensive, all-scenario solutions in the field of sleep health medicine for a wide range of users. To this end, Yishi Sleep has built two major sections online and offline, hoping to address three major pain points in the industry.

Compared with foreign markets, China’s sleep industry started relatively late. Currently, public awareness of sleep disorder treatment remains low; when facing sleep problems, most people merely seek “sleep aids” and rarely receive professional, scientifically grounded medical management and interventional therapy. To address this, Yishi Sleep has established an online sleep internet hospital and a matrix of self-media platforms. By leveraging online channels such as WeChat Official Accounts, Xiaohongshu (Little Red Book), Zhihu, WeChat groups, and short-video platforms, and by meticulously refining professional health-education content, the company precisely targets patients, expands user coverage through a point-to-area strategy, and directs traffic to offline physical stores for conversion.

Meanwhile, offline physical stores will also provide customers with education and guidance on sleep-related knowledge, effectively addressing their sleep issues while enhancing user stickiness and repurchase rates. Online and offline channels will be interconnected and mutually reinforcing, creating a chain brand effect.

From the perspective of experience and consumption, the interior environment of the Sleep Charging Station is warm and stylish, allowing customers to feel immense relaxation and comfort as soon as they enter, without inducing the psychological pressure or discomfort often associated with medical facilities. Yishi Sleep willOffline Sleep Charging StationBuild into a"Small but Specialized"sleep intervention venues, comprehensively optimizing and upgrading both hardware and software aspects—including site selection, interior design, service guidance, ambient scent, lighting, temperature, and stress-relief massage—so that users feel warm and relaxed from the very first step they take into the store.

Yi Shi SleepOnline Sleep Internet Hospitalreflects“Broad Yet Specialized”characteristics. On one hand, the platform provides popular science education on sleep knowledge and facilitates interactive Q&A with professional physicians. On the other hand, Yishi Sleep is progressively enriching its matrix of sleep-aid products tailored to various sleep scenarios, including medical devices, pharmaceuticals, eye masks, mattresses, pillows, soothing essential oils, and massage creams, thereby demonstrating comprehensive service and product offerings.

Improving sleep is a long-term process of conditioning and treatment. Different populations face distinct issues and require tailored solutions. Yishi Sleep focuses on sleep monitoring and therapeutic management, offering face-to-face sleep counseling and services through offline Sleep Health Management Centers and home-based medical sleep products. By matching users with personalized sleep solutions, Yishi Sleep aims to make healthy sleep services truly accessible and beneficial to the general public.

Furthermore, on the Yishi Sleep Internet Hospital platform, physicians will conduct regular online consultations and follow-ups on treatment outcomes. In later stages, Yishi Sleep will also launch a physician portal to invite sleep medicine specialists for professional online training and knowledge sharing, thereby providing a platform for sleep healthcare professionals to exchange insights and engage in academic discourse.

Yi Shi Sleep integrates diverse sectors, including medical investment, academic promotion, technical services, and the research, development, and manufacturing of medical devices. By collaborating closely with domestic and international sleep medicine experts, focusing on user consumption scenarios, enhancing awareness of sleep health consumption, aligning with clinical needs, and integrating offline physical entities and other diversified modules, Yi Shi Sleep is committed to building a comprehensive sleep industry ecosystem and establishing a healthy sleep ecological system.

According to founder Lin Shiyu, all Yishi Sleep stores have graduallyAchieved profitability, with development momentum remaining stable and positive.The company will continue to refine the construction of its online sleep hospital and undertake digital upgrades to provide more intelligent and convenient diagnostic services. Furthermore, leveraging its rapid replicability and high-growth potential, the company will persist in opening new stores, gradually extending its service radius to key regions such as Beijing, Shanghai, Guangzhou, and Shenzhen. It will intensify R&D efforts, expand its portfolio of proprietary products, and integrate a wider range of sleep care products and brands for extensive distribution across its retail locations. By spanning from online to offline channels and from front-end diagnosis to back-end consumption, the company aims to consistently consolidate and strengthen its position as the leading professional chain brand in sleep diagnosis and treatment.

Against the strategic backdrop of "Healthy China 2030," as the demand for sleep health services continues to expand, the sleep industryEntering a Period of Rapid Growth. In the future, Yishi Sleep will continue to drive innovative development in the sleep health industry, enhancing healthy sleep for the Chinese population through higher-quality products and services; meanwhile, Yishi SleepNationwide Brand Licensing Partnerships Now Open, with the hope that more people will participate in market expansion for mutual benefit; we also seek to collaborate with capital partners who share our vision,Jointly promote the development of the Group and the industry.