The story
Founded in 1985 as Swan Pharmaceutical Wholesale (Chinese: 天鹅医药批发部) by Liu Baolin, the company was initially a one-person store that sold medical products in the rural area of Yingcheng, Hubei. A couple of years later, the company moved to Wuhan, the capital city of Hubei and the largest city in Central China.
In 1990, the company expanded outside Hubei and started Qiongying Pharmaceutical Trading in Hainan province.
On March 28, 2000, the 25th anniversary of Swan Pharmaceutical Wholesale, Liu Baolin merged and restructured his companies and officially founded Jointown Pharmaceutical Group.
In 2001, Jointown started operations in Beijing, Henan and Xinjiang. In 2002, Jointown expanded to China's largest city Shanghai. In 2003, Jointown founded its subsidiary in the most populous Chinese province Guangdong. In 2004, Jointown Shandong was founded. In 2005, Jointown Fujian was founded. In 2017, Jointown began in Jiangsu and Chongqing It also received an investment of US$60 million in the same year and started its medical equipment business sector. In 2008, Jointown Jiangxi and Lanzhou were first opened. In 2009, Jointown founded Liaoning and Inner Mongolia subdivisions, reaching the milestone of covering 80% of China's administrative division.
The company went public on the Shanghai Stock Exchange in 2010.
In 2016, Jointown started to explore the overseas market and opened its first facility outside China in the City of Industry, CA, US under the name of Jointown International, which later expanded to New York and Chicago. In 2018, Jointown acquired a New York pharmacy chain Starside Drugs that mainly operates in Queens.
In 2020, during the outbreak of COVID-19, Jointown was a first responder in both China and the US. The company worked 24/7 globally to ensure the supply of PPE and helped stabilize the PPE market. Jointown brand face mask was the best-selling item on Amazon in the US for several consecutive months. The company became the 3rd largest medical distributor in China and ranked 93rd on Fortune 500 China. In 2022, Jointown reached an annual revenue of CN¥140.4 billion (US$19.8 billion).
In 2022, Jointown founded its global e-commerce platform JK.com, Inc. in Long Island City, New York.
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Between 2010 and 2021, Jointown maintained an annual revenue increase rate of at least 20%.
From Wikipedia’s article on Jointown Pharmaceutical Group, shared under CC BY-SA 4.0.3