A Yuwell(鱼跃医疗) visit in Danyang takes a delegation to the company behind most of the home medical devices in Chinese households — the blood pressure monitors, oxygen concentrators, nebulisers and glucose meters that sit in medicine cabinets rather than hospitals. Yuwell Medical Equipment is headquartered in Danyang, a county-level city in Jiangsu, and has been listed in Shenzhen under 002223 since 2008.

The reason to go in 2026 is the strategic shift. The company set out three priorities — globalisation, digital intelligence and wearable form factors — and 2025 was the year they started showing in the numbers: overseas revenue rose 29.86 per cent, the blood glucose business grew 24.34 per cent, and the emergency care business grew 48.69 per cent. Consumer health hardware is quietly becoming a software and data business, and this is one of the clearest places in China to watch it happen.

The second reason is the setting. Danyang is not Shanghai or Shenzhen, and that is the point. A manufacturer that became a national brand from a small city, competing with Abbott, Dexcom, Omron and Philips on its home market and increasingly abroad, has answers about cost, distribution and brand that a coastal tech company cannot give you.

China Innovation Visits coordinates the Danyang programme, including the company reception, scheduling, road transfer from the nearest high-speed rail station and English interpretation.

Key takeaways

  • See the full home healthcare portfolio in one place: respiratory therapy, glucose management, home detection, clinical devices and emergency care.
  • Understand how a Chinese consumer health brand built national distribution across pharmacies and e-commerce, then took it abroad.
  • Look closely at continuous glucose monitoring, where the company's Anytime line has grown quickly against long-established international brands.
  • Discuss the wearable and digital shift: a medical large model, an AI health agent, and smart ring products launched in 2026.
  • Examine the acquisition route — how the group moved from single products to a full portfolio, including into clinical imaging and hospital equipment.
  • Compare with a Mindray overview on the hospital side of Chinese medical devices, or an Anker Innovations visit on how a Chinese consumer hardware brand builds overseas channels.

Why visit Yuwell in Danyang?

Home medical devices look simple from the outside and are difficult underneath. The products are regulated, the purchase is often discretionary, the buyer may be a patient or a pharmacist rather than a hospital, and the brands competing for that buyer are global. A Chinese company that leads in this category at home and is now growing fastest abroad has solved distribution, brand and regulatory problems that transfer directly to other consumer health and device businesses.

It is also a good place to study what happens when a hardware company becomes a data company. Continuous glucose monitoring turns a disposable sensor into a subscription relationship and a stream of glucose data, and the company is deliberately building software, a medical model and wearable devices around it. That transition is the most discussed topic in consumer health in 2026, and it can be observed here in production rather than in a slide deck.

Danyang is the right setting. The group's headquarters, its global industrial base and much of its manufacturing are in the city, which is why a visit here shows the whole operation rather than a regional office.

Company background

From a small factory to a platform brand

The company was founded in Danyang and listed in Shenzhen in 2008. It now describes itself as a platform brand operator and integrated medical service provider, organised around five solution businesses: respiratory therapy, blood glucose management and point-of-care testing, home health detection, clinical devices and rehabilitation, and emergency care.

Scale in 2025: revenue of 7.955 billion yuan and total assets of 16.084 billion yuan, with net assets per share of 13.21 yuan and basic earnings per share of 1.48 yuan.

The acquisition route

Much of the portfolio was assembled rather than built. The group acquired China Resources Wandong, now listed separately as Wandong Medical, which took it into medical imaging; it acquired Shanghai Medical Instruments Group, which brought hospital equipment; it bought Zhejiang Kailitai in 2021, which is how it entered continuous glucose monitoring; and it acquired Liuliu Vision in 2019 for ophthalmic products.

For a delegation, the acquisition record is the interesting part of the story. Each purchase moved the company into a category where organic entry would have taken years of regulatory work and channel building, and the visit is a good place to ask how integration is actually handled after the deal.

What it sells

Respiratory therapy

This is the largest business, at 2.549 billion yuan in 2025 or 32.04 per cent of revenue. It covers oxygen concentrators, home ventilators and nebulisers. The company says its oxygen concentrators have led global unit sales for more than a decade, and its new high-end home ventilator range was well received in 2025 both in China and overseas.

Blood glucose management and point-of-care testing

This business generated 1.281 billion yuan in 2025, up 24.34 per cent — the fastest-growing major segment alongside emergency care. It spans traditional finger-prick blood glucose meters and the continuous glucose monitoring line, and the company is deliberately building a glucose management ecosystem around both, with software and data analysis alongside the hardware.

Home health detection

Home health detection generated 1.578 billion yuan, up 0.91 per cent, covering electronic blood pressure monitors, infrared thermometers and pulse oximeters. The brand led Tmall's Singles Day medical device category by sales for ten consecutive years through 2024, and ranked first in several sub-categories including oxygen concentrators, blood pressure monitors and oximeters.

Clinical devices and rehabilitation

Clinical devices and rehabilitation generated 2.138 billion yuan, up 2.17 per cent. This is the part of the portfolio that came largely through acquisition and sells into hospitals and clinics rather than households: infection control and sterilisation products, acupuncture needles, electric wheelchairs and related equipment. Delegations focused on rehabilitation technology often pair this with a Fourier Intelligence visit on the robotics side.

Emergency care

Emergency care and other businesses grew 48.69 per cent in 2025. The core product is the automated external defibrillator range from Yuwell's Primedic brand, which received its domestic registration certificate in 2023 and moved to localised production the same year. Third-party data places Yuwell Primedic among the top three in China by AED market share.

The 2025 results

Revenue and cash

Revenue was 7.955 billion yuan, up 5.14 per cent. Profit attributable to shareholders was 1.482 billion yuan, and profit after removing non-recurring items was 1.169 billion yuan. Operating cash flow was a net inflow of 1.503 billion yuan, equivalent to about 101 per cent of net profit — earnings that convert into cash rather than into receivables.

Gross margin was 50.60 per cent, up 0.46 percentage points, and net margin was 18.66 per cent. Weighted return on equity was 11.42 per cent.

Returns and balance sheet

The company is a consistent cash returner. It proposed a final distribution of 6.00 yuan per ten shares, about 601 million yuan, which together with the interim and third-quarter distributions brings total cash dividends for 2025 to about 1.002 billion yuan — roughly 67.65 per cent of profit attributable to shareholders.

Total assets were 16.084 billion yuan with total liabilities of 2.729 billion yuan, a gearing ratio of 16.97 per cent. Interest-bearing debt was small at about 38 million yuan. That balance sheet is what allows the group to keep acquiring and building capacity through a slow consumption cycle.

CGM: the second curve

Anytime, and what the numbers mean

The company entered continuous glucose monitoring in 2021 through its acquisition of Zhejiang Kailitai. Its first product, the Anytime CT3, received a Class III registration certificate from China's National Medical Products Administration in March 2023, with a MARD — the standard measure of sensor accuracy — of 9.07 per cent in clinical study.

The next generation moved the line forward. Anytime 4 and Anytime 5 were launched in 2025, with Anytime 5 receiving its Class III approval on 1 April 2025 and offering 16 days of continuous wear, which the company describes as the first continuous glucose monitoring product anywhere to reach that duration. Its MARD is 8.58 per cent, and the sensor weighs about two grams.

CGM revenue more than doubled in 2025, which is what carried the whole glucose segment to 24.34 per cent growth. The company has been expanding production capacity at its Zhenjiang plant to keep up with demand.

Why it matters

Continuous glucose monitoring is the clearest example of a home device becoming a recurring, data-generating product. The category has long been led internationally by Abbott, Dexcom and Medtronic. A Chinese entrant reaching comparable accuracy and a longer wear time, and then competing on price and channel, is the pattern now repeating across several Chinese device categories — and it is the pattern worth understanding rather than the individual product.

Investment bank UBS has projected the company's domestic CGM market share rising from about 7 per cent in 2024 to about 19 per cent by 2030. That is a third-party forecast, not a company commitment, but it indicates where the market expects this business to go.

Overseas: the fastest-growing part

The regional approach

Overseas revenue was 1.232 billion yuan in 2025, up 29.86 per cent, rising from 12.54 per cent of revenue to 15.49 per cent. The company added overseas subsidiaries in Indonesia, the Netherlands and Brazil during the year, and describes Thailand as its template for moving from exporting products to building a local ecosystem, with the approach extending to Indonesia and Vietnam.

In Europe the company is investing in academic and clinical relationships to support product introduction. In North America it deepened its partnership with Inogen under a strategic agreement signed in January 2025 covering international distribution, trademark licensing, joint development and supply chain optimisation. It is also building in South America, the Middle East, Africa and the Commonwealth of Independent States.

What to ask

The useful question on a visit is not how much is sold abroad but what kind of thing is sold abroad. Home respiratory devices, oxygen concentrators and CGM are all categories where the buying decision is made by a patient or a distributor rather than a hospital procurement committee, and where brand and channel matter more than tender price. That shapes the whole overseas model, and it is a different model from the one a hospital device company would build.

Wearables, AI and the digital layer

The company's stated strategy for this decade is globalisation, digital intelligence and wearable form factors, and the product work now follows that. At its spring launch in 2025 it introduced more than thirty new or upgraded products and released its own medical large model, opening a public test of an AI health agent.

In 2026 it has launched several wearable devices, including a smart ring using multi-modal signal acquisition combined with AI algorithms to track health and activity metrics. The stated intent is to link these with the respiratory, blood pressure and emergency businesses to cover prevention, diagnosis, daily monitoring and treatment in one system.

For a delegation, this is the part of the visit that connects most directly to software and consumer electronics. It is also where the hardest questions sit: how health data is governed, and how a device company competes with platform companies for the same wrist.

Research and manufacturing

The group spent 570 million yuan on research and development in 2025, up 4.29 per cent, about 7.17 per cent of revenue, and more than 2.5 billion yuan over the past five years. Recent work has concentrated on CGM, automated external defibrillators and respiratory therapy.

The company's quality infrastructure includes a laboratory accredited by TÜV SÜD, and its manufacturing is concentrated in its Danyang and Zhenjiang bases, including the global life science industrial park opened in 2019. It has also signed cooperation arrangements with industrial partners including Honeywell, on respiratory health.

What a visit covers

The standard programme

Corporate Exhibition Hall Tour: Visit the Yuwell Group Product Exhibition Hall, where an introduction to the company will be provided, gaining an in-depth understanding of Yuwell Group's development history and product layout (covering medical imaging, medical consumables, home healthcare, and other segments).

Production Workshop Tour: Visit intelligent manufacturing workshops including the Product Testing Center, Blood Glucose Meter Workshop, and Injection Molding Workshop, closely observing the full-process intelligent manufacturing of medical devices and learning about the company's production processes and quality control system.

Roundtable Exchange: After the tour, a roundtable discussion and exchange will be held.

Who it suits

The visit suits medical device and consumer health companies, pharmacy chains and retail groups, e-commerce and brand teams, distributors looking at Chinese supply, and investors. It is also used by university and business school groups working on brand and channel strategy, and the company is experienced in receiving professional visitors.

Practical notes

  • The visit is a business programme. Delegations are received as professional visitors and follow the host's rules.
  • Booking requires approval in advance. Foreign participants normally need to be registered with the host ahead of time, and that process is longer than for domestic visitors; allow additional working days for the paperwork.
  • Danyang is in Jiangsu province between Nanjing and Shanghai. Road transfer from the nearest high-speed rail station is included in the programme; we confirm the meeting point in writing after the host approves the booking.
  • Provide the participant list, nationalities and professional focus early; the technical depth of the briefing is adjusted to suit.
  • Photography rules are confirmed in advance; some areas carry confidentiality requirements. Tell us during planning if you need images for internal reporting.
  • Smart casual is appropriate. The programme involves walking through exhibition and technical areas, so flat shoes are advisable.
  • English interpretation can be arranged, including specialist preparation on medical device and consumer health terminology. Bilingual materials and an English summary can be prepared on request.

Questions before a Yuwell visit in Danyang

Is the visit open to international business delegations? Yes, subject to advance arrangements and confirmation by the host. Registration of foreign participants takes extra time, so we recommend planning at least 30 days ahead.

What is the group size? Visits are normally arranged for groups of 10 or more. We confirm the practical maximum with the host for your date.

How long does the visit take? The standard programme runs about two hours, covering the exhibition centre, a technical briefing and a discussion. Longer programmes can include the manufacturing base.

Where is the visit held? At the company's headquarters and product exhibition centre in Danyang, Jiangsu. We confirm the meeting point in writing after the host approves the booking.

Do participants need a medical background? No. The visit can be approached through consumer health, retail and distribution, brand management, investment or manufacturing, and terminology is handled through interpretation.

Is English interpretation provided? Yes, including preparation on medical device terminology, and bilingual handouts can be arranged.

How large is the company? Revenue was 7.955 billion yuan in 2025, up 5.14 per cent, with profit attributable to shareholders of 1.482 billion yuan and total assets of 16.084 billion yuan.

How much of the business is overseas? Overseas revenue was 1.232 billion yuan in 2025, up 29.86 per cent, about 15.49 per cent of the total. New overseas subsidiaries were added in Indonesia, the Netherlands and Brazil during the year.

What is the fastest-growing business? Blood glucose management and point-of-care testing grew 24.34 per cent and emergency care grew 48.69 per cent in 2025. Continuous glucose monitoring revenue more than doubled.

What is notable about the CGM product? The Anytime 5 received Chinese approval in April 2025 with 16 days of continuous wear, which the company describes as the first product of its kind to reach that duration, and a MARD of 8.58 per cent.

What is the company's strategy for this decade? Globalisation, digital intelligence and wearable form factors — expressed in new wearable products, a medical large model released in 2025 and an expanding overseas subsidiary network.

What documentation is needed in advance? A participant list with passport details for foreign visitors, submitted to the host for registration, plus the delegation's professional focus. We tell you the lead time for your specific group.

Does the programme always run as described? It is built around the elements above. Facilities and areas opened on the day are subject to what the site opens, and we confirm the final scope in writing during planning, before you commit.

Arrange your Yuwell visit

Tell us your dates, group size and what your team wants to understand: how a home medical device brand builds national distribution and then takes it abroad, how continuous glucose monitoring competes with established international products, how a hardware company adds software and wearables, or how acquisition built a portfolio from single products. China Innovation Visits will coordinate the company reception, discussion priorities, transport and English interpretation.

Contact China Innovation Visits to arrange your Yuwell visit in Danyang.