BIMI International Medical, Inc. (BIMI): Business Model Canvas [Dec-2025 Updated]

You're looking at the operational blueprint for BIMI International Medical, Inc. right now, and honestly, it's a tough read after the January 2025 Nasdaq delisting. As an analyst who's seen companies navigate this kind of regulatory turbulence for years, the key isn't just the $12.6M trailing revenue figure from late 2023; it's how this diversified China healthcare play-balancing wholesale drug distribution with its Lijiantang pharmacies and the Phenix Bio supplement line-manages compliance and capital now that the public market spotlight is gone. We need to see if their core distribution network, which supports approximately 296 employees, can sustain the business while they sort out the mess, especially with a cash balance that was only around $1.93 million as of mid-2023. Dive into the Canvas below to see the structure they are relying on to manage this significant near-term risk.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Key Partnerships

You're looking at the foundation of BIMI International Medical, Inc. (BIMI)'s distribution and supply chain, which is heavily reliant on external entities to get its products-from pharmaceuticals to medical devices-into the Chinese market.

Strategic distribution with China Duty Free Group (CDFG) via Phenix Bio.

The partnership between BIMI's subsidiary, Phenix Bio Inc., and China Duty Free Group (CDFG) is a key channel for high-end product placement. This arrangement gives Phenix access to CDFG's massive consumer base. As of the last reported agreement details, CDFG serves over 26 million registered users. This platform was used for the official launch of Phenix Bio's "CUCA 3.0 Product Line."

Phenix Bio Inc. also utilizes other distributors for its Mainland China presence; for instance, an agreement appointed Hao Mu Pte. Ltd. as a distributor for Phenix's 17 herbal supplements in that region.

Network of pharmaceutical and medical device suppliers.

BIMI International Medical, Inc. relies on a network of established manufacturers for its wholesale segments. The company's scale, based on the latest available full-year data, saw Trailing Twelve Months (TTM) Revenue reported around $10,250,000 or $12,633,000, and the firm employed 296 full-time personnel. The company's operational footprint is divided across four primary segments, which dictates the breadth of its supplier needs.

Here's a look at the operational scale relevant to managing these supplier relationships:

The wholesale medical devices segment specifically handles established brands, including distribution of Stryker spinal products and Olympus endoscopes.

Local Chinese hospitals, clinics, and third-party wholesalers.

The core of BIMI International Medical, Inc.'s traditional business involves direct sales to healthcare providers within China, concentrated in the Southwest region. These customers form the base for the Wholesale Pharmaceuticals and Wholesale Medical Devices segments.

The customer base includes:

• Hospitals
• Private clinics
• Drug stores
• Pharmaceutical dealers
• Pharmaceutical wholesale companies

The Wholesale Pharmaceuticals segment distributes approximately 300 varieties of products, including antibiotics and cardiovascular drugs, primarily to these local entities.

Potential financial partners for future capital raises.

The need for external financing is often gauged by the company's current liquidity position. As of the end of the third quarter of 2023, the reported cash balance was $994,130. Furthermore, the company has faced delisting compliance alerts from Nasdaq, which often necessitates equity financing to maintain listing standards or fund operations, given the TTM Net Income was reported as -$10,690,000.

Finance: draft 13-week cash view by Friday.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Key Activities

You're looking at the core actions BIMI International Medical, Inc. (now BIMI Holdings Inc.) had to execute to run its business, even as it faced significant regulatory headwinds.

Wholesale distribution of pharmaceuticals and medical devices in China.

This was historically the segment generating the maximum revenue for BIMI International Medical, Inc.. The wholesale pharmaceuticals segment involved supplying prescription and over-the-counter (OTC) medicines, Traditional Chinese Medicines (TCM), healthcare supplies, and sundry items to various entities like clinics, third-party pharmacies, and hospitals in the PRC. The wholesale medical devices segment distributed items such as Stryker spinal products, Olympus endoscopes, and diagnostic imaging equipment to similar customer bases in the Southwest region of China. As of September 30, 2023, the trailing twelve-month revenue for the company was reported at $12.6M.

Operating a chain of licensed retail pharmacies.

The Retail Pharmacy segment focused on selling prescription and OTC medicines, TCM, healthcare supplies, and sundry items directly to retail customers through its owned stores, such as those under the Lijiantang Pharmacy brand name. The company previously acquired Boqi Zhengji Pharmacy Chain Co., Ltd., an operator of a pharmacy chain in Dalian, though this business suffered setbacks due to COVID-19 lockdowns. As of late 2023, BIMI International Medical, Inc. operated two private hospitals in China, which fell under the Medical Services segment, separate from the retail pharmacy operations.

Manufacturing and selling high-margin dietary supplements (Phenix Bio).

The acquisition of Phenix Bio Inc. introduced a focus on healthcare products distribution, which management expected to positively impact the revenue stream. For the three months ended March 31, 2023, sales of healthcare products by Phenix Bio Inc. amounted to $2,022,508, contributing significantly to the total Q1 2023 revenue of $3,197,637. Phenix Bio was in the process of securing exclusive distribution rights for nine healthcare products targeting areas like general recovery and disease prevention.

Managing compliance and addressing delisting issues.

A critical activity involved navigating severe compliance challenges. BIMI Holdings Inc. received a notification from The Nasdaq Stock Market LLC regarding subject-to-delisting due to failure to file annual and quarterly financial reports on time, a non-compliance with Nasdaq Listing Rule 5250(c)(1). This was linked to internal control deficiencies in financial reporting. The stock was suspended on August 22, 2024, and Nasdaq announced the delisting of the common stock effective January 10, 2025. The company's market capitalization as of late 2024/early 2025 was reported around $17.1M, though later data in August 2025 showed a market cap of only $1.16K.

Here's a look at the reported segment contributions based on available data, noting that the most recent full-year data is from 2022 or TTM Q3 2023:

The operational focus areas, given the regulatory environment, included:

• Supplying prescription and OTC medicines in the Chongqing area.
• Distributing medical devices to private clinics and hospitals.
• Selling products through directly-owned stores under the Lijiantang Pharmacy brand.
• Managing the distribution of Phenix Bio healthcare products.
• Addressing the Nasdaq delisting determination from January 2025.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Key Resources

You're looking at the core assets that BIMI International Medical, Inc. (which is now known as BIMI Holdings Inc. as of January 2024) relies on to execute its business strategy. These aren't just line items; they are the tangible and intangible foundations of their operations in the Chinese healthcare sector.

Distribution and Operational Footprint

A major physical resource is the established distribution network. This is heavily concentrated, focusing primarily on the Southwest region of the People's Republic of China, with a specific emphasis on the Chongqing area. This regional concentration is a deliberate choice to leverage existing healthcare resource advantages there. For instance, the wholesale pharmaceuticals segment supports its distribution by handling approximately 300 varieties of products, including raw ingredients, antibiotics, and cardiovascular drugs, serving private pharmaceutical manufacturers and wholesale companies in China.

The company's retail presence is anchored by its licensed pharmacy chain, operating under the Lijiantang Pharmacy brand name. You should note that by the end of 2020, BIMI International Medical, Inc. had opened five (5) of these retail pharmacies, and later made a strategic decision to re-focus these operations specifically within Chongqing.

High-Margin Product Subsidiary

The subsidiary, Phenix Bio Inc., represents a critical resource for high-margin revenue. BIMI International Medical, Inc. acquired Phenix Bio Inc. on March 15, 2023. This acquisition immediately impacted the top line; Phenix Bio Inc. contributed $2,022,508 in sales for the three months ended March 31, 2023. More importantly, this segment drives margin improvement, as evidenced by the gross margins reaching 52% for the six months ended June 30, 2023, which is a significant jump from 15% in the comparable period of 2022, directly reflecting the high margins on the herbal supplements Phenix Bio Inc. sells. This subsidiary is key to their profitability story.

Financial Liquidity Snapshot

Cash on hand is always a vital resource, especially for a company navigating listing compliance challenges, such as the delisting from Nasdaq announced in January 2025. The most recently specified cash balance you have is from the mid-2023 reporting period. Here's a quick look at that specific figure alongside related balance sheet items from that time:

The company's working capital position also improved considerably from a negative position at the end of 2022 to a positive $6,604,643 by June 30, 2023. That transition from negative to positive working capital is a resource in itself, showing improved short-term financial health at that point.

Summary of Key Tangible and Intangible Assets

The core resources for BIMI International Medical, Inc. can be summarized by their operational structure and specialized assets:

• Established distribution network concentrated in the Southwest region, especially Chongqing.
• Proprietary access to high-margin supplement sales via Phenix Bio Inc.
• Licensed retail pharmacy chain under the Lijiantang brand name.
• Cash balance of $1,931,744 as of June 30, 2023.
• Wholesale pharmaceutical segment inventory of approximately 300 varieties of products.

Finance: draft 13-week cash view by Friday.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Value Propositions

Integrated supply chain for diverse healthcare products in China.

• Wholesale Pharmaceuticals segment supplies prescription and OTC medicines, Traditional Chinese Medicines (TCM), healthcare supplies, and sundry items to clinics, third party pharmacies, hospitals, and other drug wholesalers.
• Wholesale Medical Devices segment distributes medical devices, including medical consumables, to private clinics, hospitals, third party pharmacies, and other medical entities.
• The company distributes specific products including Stryker spinal products and Olympus endoscopes.

Access to world-class dietary supplements through Phenix Bio.

Localized medical services, including Western and Traditional Chinese Medicine (TCM).

• The company operates two private hospitals in China.
• Medical Services segment provides direct medical services.
• Retail Pharmacy segment offers prescription and over-the-counter drugs, nutritional supplements, and TCM under the Lijiantang Pharmacy brand name.

Improved supply reliability for hospitals and clinics.

• The company aims to improve healthcare accessibility and supply reliability in its core regions with a robust distribution network.

Financial Context of Operations (Latest Reported Figures)

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Customer Relationships

BIMI International Medical, Inc. (BIMI) manages distinct customer relationships across its wholesale and retail operations, which include Wholesale Pharmaceuticals, Wholesale Medical Devices, Medical Services, and Retail Pharmacies segments.

Dedicated account management for large wholesale customers (hospitals/clinics).

The wholesale business, serving drug stores, private clinics, pharmaceutical dealers, and hospitals in the Southwest region of the People's Republic of China, requires focused management for its largest accounts. The concentration of revenue from these top customers was significant in the last reported detailed period:

The company also noted that sales force productivity initiatives and cross-selling momentum supported the Service Center segment's performance in fiscal 2025.

Transactional, self-service model for retail pharmacy customers.

Retail pharmacy customers interact with BIMI International Medical, Inc. primarily through its directly owned stores operating under the Lijiantang Pharmacy brand name. This channel is structured for transactional, self-service purchasing of prescription and over-the-counter drugs, TCM, healthcare supplies, and sundry items.

• Retail Pharmacy segment sells prescription and OTC medicines.
• Retail Pharmacy segment sells Traditional Chinese Medicines (TCM).
• Retail Pharmacy segment sells healthcare supplies and sundry items.

Direct-to-consumer sales through duty-free channels.

While BIMI International Medical, Inc. operates in the healthcare products space, direct-to-consumer sales through duty-free channels are not explicitly detailed with specific 2025 financial figures in the latest available reports. The company's overall reported revenue for the three months ended March 31, 2023, was $3,197,637.

The broader global duty-free retailing market size was projected to reach USD 50.90 billion in 2025, with an expected CAGR of 5.4% through 2032.

Finance: review the 2025 Q3 segment revenue contribution by end of next week.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Channels

The distribution architecture for BIMI International Medical, Inc. (BIMI) centers on its established presence in China, particularly the Southwest region around Chongqing, across wholesale and retail fronts.

Wholesale distribution channels to hospitals and clinics

BIMI International Medical, Inc. (BIMI) moves products through its Wholesale Pharmaceuticals and Wholesale Medical Devices segments to institutional and business customers. The Wholesale Pharmaceuticals segment distributes approximately 300 varieties of products in the Chongqing area, including raw ingredients, antibiotics, cardiovascular drugs, and anti-obesity medicines. The Wholesale Medical Devices segment supplies medical consumables to drug stores, private clinics, pharmaceutical dealers, and hospitals.

A concrete example of a wholesale channel success was a drug supply contract secured by the subsidiary Chongqing Shude Pharmaceutical Co., Ltd. in June 2021, valued at approximately RMB 20 million (about $3.11 million based on the June 2021 exchange rate).

Chain of physical licensed retail pharmacies in China

The Retail Pharmacies segment serves end consumers directly. As of late 2020, BIMI International Medical, Inc. (BIMI) had opened five (5) retail pharmacies branded "Lijiantang". These physical locations sell prescription and Over-The-Counter (OTC) medicines, Traditional Chinese Medicines (TCM), healthcare supplies, and sundry items to retail customers in Chongqing.

The overall China Pharmacies & Drugstores industry market size is estimated to reach $116.3 billion in 2025.

• Directly-owned pharmacies in Chongqing.
• Sale of prescription and OTC medicines.
• Sale of Traditional Chinese Medicines (TCM).

China Duty Free Group (CDFG) retail locations for supplements

Distribution for certain supplements, managed through the subsidiary Phenix Bio Inc., utilizes non-exclusive distributor agreements for Mainland China. A distributor appointed in October 2023 was required to make annual purchases of at least $5 million to maintain its status for distributing 17 herbal supplements. While direct sales volume through China Duty Free Group (CDFG) locations is not specified for BIMI International Medical, Inc. (BIMI), the broader duty-free market context shows significant activity. One city reported tax-exempt retail sales to foreign tourists surged by 85% year-on-year in the first half of 2025.

Direct sales force for wholesale segment

The wholesale operations rely on a direct sales force to manage relationships with business customers like private pharmaceutical manufacturers, wholesale companies, clinics, and hospitals. The company distributes imported imaging products and diagnostic imaging equipment, alongside pharmaceuticals, to these entities in the Southwest region of the People's Republic of China. Specific metrics for the size or revenue contribution of the direct sales force for the 2025 fiscal year are not publicly available in the latest disclosures.

The wholesale distribution network serves customers including:

• Hospitals.
• Private clinics.
• Pharmaceutical dealers.
• Drug stores.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Customer Segments

You're looking at the customer base for BIMI International Medical, Inc. (now BIMI Holdings Inc. as of January 2024), which operates across wholesale and retail healthcare in the People's Republic of China.

The company's structure shows distinct customer groups tied to its four operating segments: Wholesale Pharmaceuticals, Wholesale Medical Devices, Medical Services, and Retail Pharmacies.

The scale of the business, based on the latest available full-year context, showed a trailing 12-month revenue of approximately $12.6M as of September 30, 2023. The company employed 296 full-time employees as of a recent report.

The primary customer groups are:

• Hospitals and private clinics in the Chinese market.
• Third-party pharmaceutical wholesalers and drug stores.
• End consumers purchasing retail pharmacy and supplement products.
• International travelers and duty-free shoppers in China.

The wholesale segments focus heavily on the Southwest region, particularly Chongqing, distributing approximately 300 varieties of products including raw ingredients, antibiotics, and cardiovascular drugs.

The retail pharmacy segment serves end consumers directly through its chain of directly-owned stores. This includes sales of prescription drugs, over-the-counter drugs, nutritional supplements, and TCM under the Lijiantang Pharmacy brand name.

For the wholesale pharmaceutical distribution, the majority of customers are identified as private pharmaceutical manufacturers and pharmaceutical wholesale companies in China. The wholesale medical devices segment specifically distributes to drug stores, private clinics, pharmaceutical dealers, and hospitals.

The Medical Services segment involves operating specialty hospitals in China, which serve patients directly.

Finance: review Q3 2023 segment revenue contribution to estimate 2025 mix.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Cost Structure

High cost of goods sold (COGS) is a primary cost driver, particularly within the wholesale segments of BIMI International Medical, Inc. The wholesale pharmaceuticals segment gross margin for the three months ended March 31, 2022, was 12.70%, and the wholesale medical devices segment gross margin was 14.13% for the same period. This indicates that the cost of acquiring and distributing these products consumes a significant portion of the revenue generated by these divisions. For comparison, the medical services segment showed a gross margin of 61.52% for the same quarter in 2022, highlighting the difference in cost profiles across business lines. The cost of revenues for the three months ended March 31, 2022, totaled $3,561,278.

Operating expenses are heavily influenced by personnel costs, given the company employs 296 full-time employees. For the three months ended March 31, 2022, total operating expenses were reported as $4,015,169, an increase of 5% over the prior year period. This figure included salaries for executive officers totaling $1,400,500 for that quarter alone. The cost structure for retail locations and medical services staff is embedded within these operating expenses, covering salaries, rent, and utilities for the physical footprint, including the two private hospitals operated in China.

Significant legal and administrative costs are associated with compliance and the eventual delisting action. The Nasdaq Stock Market announced the delisting of BIMI International Medical, Inc.'s common stock on January 10, 2025. The stock had been suspended since August 22, 2024. These events follow previous notifications regarding failure to file annual and quarterly financial reports on time, a non-compliance with Nasdaq Listing Rule 5250(c)(1). While a specific dollar amount for the legal and administrative costs related to this process in 2025 is not publicly itemized in the latest available data, the need to address internal control deficiencies and non-compliance inherently drives up these overheads.

Costs tied to maintaining the distribution infrastructure support the four operating segments: Wholesale Pharmaceuticals, Wholesale Medical Devices, Medical Services, and Retail Pharmacies. The infrastructure includes logistics for supplying prescription and over-the-counter medicines, traditional Chinese medicines (TCM), and medical devices across the United States and Asia. The company also incurred interest expense relating to bank loans for acquired hospital groups, such as the Guanzan Group, Zhuoda, and Zhongshan, which are part of the cost base for the medical services and wholesale operations.

Here's a quick look at some key financial and operational data points relevant to the cost base:

• Total Employees: 296
• Nasdaq Stock Suspension Date: August 22, 2024
• Nasdaq Delisting Announcement Date: January 10, 2025
• TTM Revenue (as of Sep-2023): $12,633 K
• TTM Net Loss (as of Q3 2023): ($10.69M)
• Potential Proceeds from Warrant Exercise: Up to $3,897,650

The following table summarizes key financial metrics that inform the cost structure, using the most recent reported figures available:

The cost profile is segmented across the company's primary revenue-generating activities:

• Wholesale Pharmaceuticals: Supplying prescription/OTC medicines, TCM, and sundry items.
• Wholesale Medical Devices: Distributing medical devices and consumables.
• Medical Services: Costs associated with operating two private hospitals in China.
• Retail Pharmacy: Costs for directly-owned pharmacies selling various healthcare items.

Finance: draft 13-week cash view by Friday.

BIMI International Medical, Inc. (BIMI) - Canvas Business Model: Revenue Streams

You're looking at the core ways BIMI International Medical, Inc. brings in money, which centers on distribution and healthcare products, especially after integrating Phenix Bio Inc. The company's structure clearly shows a focus on moving products through wholesale channels and direct retail sales, alongside medical services.

The latest reported Trailing 12-month revenue for BIMI International Medical, Inc. was $12.6M as of September 30, 2023. This figure reflects a significant year-over-year increase of 91.60% over the prior period, largely driven by the inclusion of Phenix Bio Inc.'s sales, which are noted for their high margins on dietary supplements. The company's operations are segmented into four main areas that generate this revenue: Wholesale Pharmaceuticals, Wholesale Medical Devices, Medical Services, and Retail Pharmacies.

Here's a quick look at the revenue components and the latest concrete figures we have on record:

The primary sources feeding into the top line are:

• Wholesale sales of pharmaceuticals and generic drugs.
• Wholesale sales of medical devices and consumables.
• Retail sales from the pharmacy chain.
• Sales of high-margin dietary supplements from Phenix Bio.

The wholesale pharmaceuticals segment, for instance, distributes around 300 varieties of products, including raw ingredients for pharmaceuticals, antibiotics, and cardiovascular drugs, primarily to other pharmaceutical wholesale companies and private manufacturers in China. The retail pharmacy segment, operating under brands like Lijiantang Pharmacy, offers prescription and over-the-counter drugs, traditional Chinese medicines, and personal care items directly to consumers. The high-margin nature of the dietary supplements from Phenix Bio is a key driver in the reported gross margin improvement, which reached 52% for the six months ended June 30, 2023, up from 15% in the prior year period. That's a substantial shift in profitability profile right there. Finance: draft 13-week cash view by Friday.