Shenzhong Tech Secures RMB 50 Million Funding to Expand Nationwide e-Shouying Platform for Pharmaceutical Documentation Exchange

VCBeat (WeChat ID: vcbeat) has learned that on July 9, 2018, Shenzhong Technology announced that its Shenzhong e-First Project had secured financing, receiving a RMB 50 million investment from a Chinese investment firm.

Shenzhong Technology, established in 2016 with Hangzhou Tianzhu Technology Co., Ltd. as its parent company, is a leading provider of digital cloud services for the pharmaceutical industry in China. Its products and services span multiple domains, including Shenzhong Cloud, MED++, New Pharmaceutical Retail, and Shenzhong IoT. The company’s “Pharmaceutical New Force” App, launched in 2013, has been acclaimed by the industry as the most valuable mobile platform for pharmaceutical investment promotion information. Currently, the App boasts 1.03 million registered users and 56,000 daily active users, helping nearly 1,800 domestic pharmaceutical manufacturers and distributors efficiently accelerate the market entry of both new and existing products.

e-Shouying, which recently secured financing, is positioned as China’s original electronic exchange platform for first-time qualification documentation. The proceeds from this funding round will be primarily allocated to nationwide business expansion of the “Electronic Exchange Platform for First-Time Qualification Documentation” (www.syzljh.cn), independent R&D investment, and the recruitment of senior talent, thereby enhancing the platform’s ability to better serve pharmaceutical and medical device manufacturers, distributors (including chain and independent pharmacies), and various healthcare institutions across China. The nationwide implementation of e-Shouying will address the need for paperless operations in first-time qualification documentation exchanges throughout China.

Mr. Zhu Fengjie, Chairman and CEO of Shenzhong Technology, stated: “In 2013, we founded the company with the original aspiration of ‘building a high-speed highway for medical and health products.’ Over the past five years, we have focused on pharmaceutical industry research and IT technology innovation, establishing an R&D team of over one hundred professionals. We are fully committed to exploring solutions for the informatization and digital transformation of pharmaceutical enterprises, aiming to address issues such as poor information flow, regulatory inconveniences, and low circulation efficiency of medical and health products. Moving forward, we will primarily allocate our funds toward attracting top talent, increasing R&D investment, and strengthening our service team. We will launch more informatization solutions for the pharmaceutical industry. In the future, pharmaceutical companies will no longer be information silos; instead, they will connect with the industry, the ecosystem, users, and society. We are fully dedicated to serving the core competitiveness of future pharmaceutical enterprises—digital construction.”

Mr. Shi Yusong, Executive Vice President and COO of Shenzhong Technology, stated, “To better serve our clients and assist pharmaceutical enterprises in advancing deep digital transformation, we are committed to establishing standardized digital business processes and continuously enhancing core corporate competitiveness. Currently, we have deployed four major operational centers in Hangzhou (East China), Changsha (South China), Chengdu (West China), and Jinan (North China). We have also designated dedicated regional managers for each province and staffed hundreds of operational personnel to form a nationwide operational service network, assisting large pharmaceutical companies in rapidly building exclusive databases for first-time vendor qualification materials.”

In active response to the national “Internet Plus” strategy, and to implement the requirements set forth in the General Office of the State Council’s “Several Opinions on Further Reforming and Improving Policies for Drug Production, Circulation, and Use” (Guo Ban Fa [2017] No. 13), which advocates promoting “Internet Plus Drug Circulation,” as well as the China Food and Drug Administration’s “Opinions on Promoting Food and Drug Producers and Traders to Improve Traceability Systems” (Shi Yao Jian Ke [2016] No. 122), which encourages producers and traders to leverage information technology to establish food and drug traceability systems, e-Shouying further promotes the electronic exchange and circulation of initial qualification documentation nationwide, thereby reshaping the rules of the digital pharmaceutical circulation industry.

Shenzhong e-Shouying is China’s first original electronic exchange platform for initial qualification documentation. Under the requirements of Good Supply Practice (GSP) regulations, pharmaceutical wholesalers and retailers have achieved a high level of internal digitalization, with most having established their own ERP systems. However, these systems remain isolated information silos. This “platform” builds a bridge of communication across these disparate silos, enabling industry-wide collaboration and data-driven operations—a necessary path toward the “intelligent transformation” of the pharmaceutical industry.

According to information disclosed by Shenzhong Technology, the Shenzhong e-Shouying platform has onboarded more than 9,000 enterprises and has been featured multiple times in mainstream media outlets such as China Pharmaceutical News and China Pharmacy. As of now, Shenzhong e-Shouying has covered 23 provinces (municipalities/autonomous regions) across China, including Hunan Province, Tianjin Municipality, Heilongjiang Province, Liaoning Province, Yunnan Province, Shaanxi Province, Jiangsu Province, Hubei Province, Zhejiang Province, Henan Province, Hainan Province, Shandong Province, Sichuan Province, Chongqing Municipality, Guangdong Province, Anhui Province, Jilin Province, Gansu Province, Ningxia Hui Autonomous Region, Inner Mongolia Autonomous Region, Xinjiang Uygur Autonomous Region, Hebei Province, and Shanxi Province. Enterprises in these regions can exchange initial qualification documentation for pharmaceuticals and medical devices through the e-Shouying platform.