Core Viewpoint - Rongtai Pharmaceutical Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] Company Overview - Rongtai Pharmaceutical is a leading provider of outpatient pharmaceutical services in China, offering digital marketing and supply chain solutions [1] - Based on projected 2024 revenue, the company ranks as the fourth largest provider of marketing and supply chain solutions in China's outpatient pharmaceutical market and the largest for individual customer-focused solutions [1] Business Model - The company sells pharmaceutical products to individual customers through B2C and O2O e-commerce platforms such as JD Health, Alibaba Health, and Meituan Medicine [1] - It provides integrated brand operation, data management, omnichannel traceability, and smart inventory management services to pharmaceutical companies [1] - Rongtai operates its own retail pharmacy brand "Yikangsi Pharmacy" as an additional sales channel and integrates commercial insurance online medical services and patient education programs [1] Sales Strategy - The company employs a sales model through outpatient retail pharmacies and grassroots medical institutions, selling pharmaceutical products to regional sales partners and then through B2B e-commerce platforms like Yaoshibang and 1Yaocheng to grassroots terminals [1] - Rongtai strategically collaborates with national and regional large chain pharmacies to supplement sales channels and build a comprehensive outpatient pharmaceutical retail network [1]