On August 16th, on August 15th, US local time, the 111 group of 1 drug network parent company submitted a prospectus to the US Securities and Exchange Commission, raising a maximum of 200 million US dollars. The underwriters were JP Morgan Chase, Citigroup and China Gold. In 2010, Yu Gang and Liu Junling founded the 111 Group, which is committed to using the Internet model and thinking mode to change the status quo of the Chinese public “difficult to see a doctor, buy medicine expensiveâ€. According to official data, the 111 Group's business logic is to use Internet and IT technology to provide online medical treatment, drug purchase and health management services, reduce intermediate links, optimize the supply chain, and provide complete solutions for patients to buy medicines. At present, the Internet Medicine Health Ecology Circle that the 111 Group is building is composed of three modules: B2C Medicine Platform 1 Drug Network, B2B Medicine Platform 1 Drug City and Southwest Internet Hospital. The 111 group prospectus shows that the company's revenue in 2017 was 960 million yuan, and revenue in the first half of 2018 was 731 million yuan. In 2017, China's big health market totaled nearly 10 trillion yuan, and consulting firm Frost & Sullivan expects the market to grow by more than 17 trillion yuan in 2022. However, compared with the “high concentration and integration†of the US pharmaceutical industry, co-founder and executive chairman Yu Gang believes that “fragmentation and inefficiency†is a prominent feature of the Chinese pharmaceutical industry. On June 12, Yu Gang used several sets of data to specify the problems of the domestic pharmaceutical industry in the “Internet + Industry†and high-end productive service innovation summit in the Yangtze River Delta in 2018: the market of the top three pharmaceutical retailers in the United States in 2017. The proportion is 82%, compared with 5.4% in China; there are more than 450,000 pharmacies in China, and only 70,000 in the US; in the US, the top three drug distributors account for 90% of the market, while China only 34% . 111 Group tried to establish a cloud service platform for pharmaceutical circulation through technologies such as the Internet and AI, and realized the integration and development of B-end and C-end, online and offline, self-operated and platform, medicine and medicine. In 2010, 1 Pharmacy became the first medical e-commerce provider to obtain legal online pharmacy qualifications. In recent years, 1 drug network has gradually launched medical services such as online consultation and health management on the basis of online sales of drugs, creating a closed loop of “medical + medicine†services. It is reported that 1 drug network currently has more than 2,000 self-employed and three-party medical professionals, and can provide online medical treatment and electronic prescription services for users. In addition to the drug distribution market through the 1 drug network and 1 drug city, the 111 Group also established the Southwest Internet Hospital in Guizhou Province in 2016, based in Puding County, Guizhou Province, directly providing services to patients in the grassroots and remote areas of the community. Online health care services. In April this year, the General Office of the State Council issued relevant opinions on promoting the development of “Internet + medical healthâ€, encouraging and promoting the exploration of the new mode of “Internet + medical health†service. The 111 Group also wrote in the prospectus that the current “inefficiency†of the Chinese healthcare market means industry potential and is expected to be improved through new technologies such as the Internet. In the middle of this year, the stock market was listed in the US stock market, and the investment community was regarded as the last stroke before the listing window was about to close. Insiders pointed out that the performance of the Chinese stock companies listed last year and this year was generally mediocre. Even at the beginning of this year, all the Chinese stocks that landed in the US stocks in the second half of 2017 were collectively broken. The 111 Group's listing coincides with the uncertain period of US stocks affected by macroeconomics. Brendan Ahern, chief investment officer of Krane Funds Advisors, said that in general, the Chinese technology company sector is still welcomed by US stock investors. “The current market shock may be' Squeeze out the water in the 'China stocks, and some large, well-managed Chinese companies will eventually be left behind."
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