Fulinq Golden Sun Files IPO Prospectus: Building a 'Nursing Home Without Walls' Through Its Integrated 'Four-in-One' Elderly Care Ecosystem

As one of the first batch of enterprises in the National Development and Reform Commission’s “City-Enterprise Collaboration for Elderly Care Services” initiative, and a representative enterprise in elderly care services in Fujian Province, Fujian Fuling Golden Sun (hereinafter referred to as “Golden Sun”), founded by Ms. Huang Xiaorong in 2007, has amassed over 1 million members and served more than 5 million person-times. It operates 352 community service stations, six elderly care institutions with 1,538 beds, fourteen care centers with 215 beds, and has undertaken 22 brand cooperation and consulting advisory projects.

Vice Premier of the State Council Sun Chunlan Visits Fuling Golden Sun (Photo provided by the company)

Golden Sun is committed to providing comprehensive elderly care solutions for governments and enterprises. It has established a “four-in-one” integrated elderly care service system, supported by informatization, with home-based care as the foundation, community-based care as the support, institutional care as the supplement, and integration with broader health services. The company offers one-stop services that integrate personal care, nursing, medical treatment, and rehabilitation.

How has this company consistently provided 15-minute emergency support for the elderly for twelve years? What is its “four-in-one” service strategy? At the 14th Chongqing Senior Expo, VCBeat (WeChat ID: vcbeat) conducted an exclusive interview with Miao Sheng, Vice President of Golden Sun, to hear his insights.

In the elderly care sector, each type of team possesses its own distinct advantages: teams with a medical background offer more clinically oriented services; those with a technology background demonstrate greater professionalism in product refinement; and teams with a housekeeping background provide services that are more practical and grounded in everyday needs.

In 2004, Ms. Huang Xiaorong, founder of Golden Sun, piloted “Cleaning Hubs” in several residential communities in Fuzhou through her housekeeping company, which had been established for three years. Through close engagement with households in these communities, she learned that their needs extended beyond laundry and cleaning, drain unclogging, and water pipe repairs to include elderly care services, such as addressing the concern, “What should be done if an elderly family member falls ill while their children are at work?”

Leveraging a mature domestic service model, along with its extensive service coverage network and customer base, Huang Xiaorong led her team in exploring the provision of elderly care services. In 2005, Huang established the Meidesheng Comprehensive Outpatient Department, initiating an initial attempt at building a medical assistance network for home-based elderly care. By integrating her community-based “cleaning stations” with nearby medical institutions, she provided tiered emergency assistance services to seniors within the service area.

Until 2007, Huang Xiaorong formally applied to establish the Fuzhou Golden Sun Elderly Comprehensive Service Center as a private non-enterprise organization. In the same year, Golden Sun launched its telephone platform “968885.” It acquired its first elderly care institution in 2010 and piloted the construction of its first community care center in 2014. By then, Golden Sun’s elderly care service system had taken shape, comprising three tiers: home-based service stations, care centers, and elderly care institutions.

In 2013, Huang Xiaorong formally consolidated resources to establish Fujian Fuling Golden Sun Health and Elderly Care Co., Ltd. In 2015, the company was acquired by Beijing Enterprises Healthcare Industry Group Co., Ltd. Regarding service offerings, Golden Sun has integrated its own resources with those of Beijing Enterprises Healthcare Industry Group, incorporating big health, internet-based, and industrialized services. These services encompass medical care, domestic assistance, catering, education, training, time banking, foundations, non-profit organizations, funeral services, tourism, insurance, finance, and age-friendly products, thereby creating an elderly care service ecosystem featuring a “15-minute home-based service circle, a 30-minute community care circle, and a one-hour institutional wellness and elderly care circle.”

In Huang Xiaorong’s view, Golden Sun’s “four-in-one” comprehensive elderly care service system—underpinned by informatization, based on home-based care, supported by community-based care, supplemented by institutional care, and integrated with big health—relies on its team’s ability to provide adequate staffing guarantees.

Golden Sun’s Butler Hubs, situated within residential communities, enable personalized, precise in-home management services to be delivered to households within a 10-minute radius. It is understood that, in addition to elderly care services, Golden Sun integrates its previous housekeeping offerings with meal planning, entertainment, and social activities to provide comprehensive family management solutions.

Golden Sun’s Home-Based Elderly Care Service Station integrates with the 120 emergency system to provide 24-hour emergency response services, ensuring that rescue assistance arrives at the home within 15 minutes. It offers elderly residents in the community location tracking for safety, emergency support, telephone follow-ups, home visits, information management, care reminders, remote monitoring, and regular activities honoring the elderly...

Within a 30-minute service radius, Golden Sun’s community elderly care service centers, located at the sub-district (town) level, are community-based and provide home care services. Within a 60-minute service radius, elderly care institutions are built and operated.

Under this service model, the intelligent cloud platform independently developed by Golden Sun serves as the online backbone of the “four-in-one” integrated elderly care service system, fulfilling supervisory, analytical, and coordination functions by connecting the call center, seniors, and their families.

Within the Golden Sun service system, all elderly care needs—from the time an individual becomes a Golden Sun resident until the end of their life—are centered on meeting the needs of seniors. Golden Sun designs multi-tier membership packages based on residents’ financial capacity and offers customizable optional packages to address personalized needs according to their spending power.

Notably, Jin Taiyang began preparing for the establishment of its elderly care foundation in July 2016, which was officially founded in February 2017 with an initial fundraising total of RMB 3.66 million.

Miao Sheng provided an example to reporters: At 16:20 on April 12, 2018, the Golden Sun Hotline “968885” received a call for help from a close friend of Elder Geng in Nanping City. The friend reported that Elder Geng had accidentally fallen and was unable to move his leg, requiring immediate assistance. Staff at the Golden Sun Management Center immediately activated the emergency response protocol, simultaneously notifying the 120 emergency medical services and dispatching the nearest elderly care assistant to the scene, while also informing Elder Geng’s family members.

At 16:33 (13 minutes later), elderly care assistants Xiao Zeng and Xiao Wang arrived at the elder’s home and found the elder still sitting on the floor. After a brief conversation with the elder, they carefully helped the elder up and seated them in a chair to wait for the 120 emergency ambulance. The elder’s family members also arrived shortly thereafter. Upon the arrival of the ambulance, the care assistants aided the medical personnel in escorting the elder to the municipal hospital for a series of examinations to confirm the diagnosis. Finally, after ensuring that the elder had received effective medical treatment, the care assistants handed over care to the family members and left the hospital with peace of mind.

"When elderly individuals encounter emergencies, their immediate instinct is to seek help from those closest to them. By fostering close relationships between seniors and community elder-care assistants, Jin Taiyang 968885 enables more adult children to fulfill their filial duties by providing timely support to their parents when they are most in need," Miao Sheng told reporters.

By providing basic services such as emergency support, proactive care, and convenient community services, we lay the foundation for subsequent sticky products—such as caregiving, medical rehabilitation, and health management services—as well as value-added products, including age-friendly home modifications, customized precision service packages, insurance, and financial services.

“Golden Sun’s business model has always emphasized ‘paving the way with public welfare initiatives,’” explained Miao Sheng. “The seniors we serve are predominantly of advanced age; while they possess purchasing power, they lack consumer awareness. Traditional beliefs hold that elder care should be borne by children and the government, so their spending potential remains largely untapped. Only by building trust through our services can we unlock this purchasing power. Therefore, we adopt a strategy of laying the groundwork with public welfare efforts, followed by commercial operations, to achieve industrial-scale expansion and sustainable development.”

It is understood that Golden Sun has a large volunteer team, currently comprising 4,328 volunteers, including professionals such as lawyers, social workers, and psychological counselors. After launching its Time Bank service in 2008, Golden Sun issues each volunteer a “Time Passbook,” where hours of service are accumulated in their account. These accrued hours can later be used to purchase or redeem services for themselves or their family members.

Regarding staffing, every applicant joining Golden Sun must first serve as a volunteer for a period ranging from seven days to one month. If an individual fails to align with Golden Sun’s values and operational model, or does not pass the assessment, Golden Sun will credit their volunteer hours to a “time bank.” Miao Sheng told reporters, “Golden Sun’s team experiences virtually no turnover; those who leave typically make that decision during the volunteer period.”

Regarding future plans, Miao Sheng stated that Golden Sun would not adopt an aggressive approach; instead, it would remain grounded and dedicated to delivering high-quality services. The company aims to expand its market presence gradually on a city-by-city basis, winning the trust of elderly clients through proactive care and convenient services, thereby achieving “sticky” customer retention and sustainable growth.

Recently, Huang Xiaorong, Chairman of Golden Sun, repurchased a 20% stake in Beijing Enterprises Healthcare (02389-HK), laying the foundation for subsequent market-oriented financing. Interested parties are invited to contact Xiao Yun, the financing assistant at VCBeat: DongMai_Investent