On December 14, 2019, Shanghai-based Funing Information Technology Co., Ltd. ("Funing Technology") has got tens of millions of yuan (US$1.4 million) in strategic financing from Shengjitang, a listed pharmaceutical company, and built a strategic partnership with the latter. After the completion of this round financing, Funing Technology’s valuation will reach 200 million.

Funing Technology focuses on the application of information technology in the field of medicine, medical services and healthcare. It uses the Internet and big data technology to provide online services such as diagnosis, drug purchase, and health management. The company reduces the time of medical treatment, optimize the supply chain, and provide users with a complete solution for medical treatment and drug purchase.

Through the integration of the medical software, the ERP system, and the modern logistics visual system, Funing Technology has built up an Internet ecosystem of big health prescription and online pharmacy in the mode of B2B, B2C and O2O. Xia Guilang, chairman of Funing Technology, said that the company's business is based on its self-developed product supply chain system to achieve the goal of reducing intermediate processes, lowering drug prices and serving the public.

Shengjitang focuses on the manufacturing of chemical products and medical drugs. Besides, by raising funds to set up oncology hospitals and diabetes hospitals, the company further extends its business to medical services. It plans to build up a medical health service platform, integrating pharmaceutical with medical services, to enhance its capacity for sustainable profitability and management.

Shengjitang has ten production lines in compliance with GMP standards, covering several kinds of products such as granules, tablets, capsules, tinctures, infusion soft bags, small-volume injections, films, raw material drugs, blood glucose meters, healthcare products, etc.