Mr. Lai Changhou and a group of likeminded friends opened the first Wai Yuen Tong store at 44 Jianglan Street, Guangzhou as a wholesale trader of Chinese medicial herbs.
The Hong Kong branch was opened at Lai Chi Kok Road, Hong Kong.
Wai Yuen Tong relocated its headquarters from Guangzhou to Hong Kong, and the scale of operations gradually expanded.
The production line was moved to Hong Kong. Lai Chung Man, a fourth-generation member of the Lai family, took up the reins of Wai Yuen Tong. In the same year, the classic commercial, featuring the song The Sun has Come Out sung by Adam Cheng, was aired for the first time.
Wai Yuen Tong Medicine Company Limited was officially founded and registered as a trademark.
Pharmaceutical production was relocated from Tai Kok Tsui to Ko Fai Road, Yau Tong, Kowloon.
Wai Yuen Tong opened the first one-stop TCM healthcare centre in Hong Kong, which provided consultation service together with separate areas for preparing medicines and taking medicines, as well as individual consultation rooms.
In December, Wang On Group Limited (stock code: 1222) acquired a 99.79% interest in Wai Yuen Tong for HK$126 million.
In March, Town Health International Holdings Company Limited (stock code: 8138) acquired a 24% interest in Wai Yuen Tong from Wang On Group Limited for HK$30 million.
In October, Hacken Lee was appointed as the new generation brand ambassador for the Young Yum Pill. At the same time, the new Wai Yuen Tong Young Yum Pill commercial was aired for the first time.
In the same year, Wai Yuen Tong invested close to HK$100 million to build a 110,000-square-foot GMP Chinese pharmaceutical manufacturing facility in Kowloon Bay, the largest of its kind in Hong Kong.
In February, the first outlet on Hong Kong Island was opened in Causeway Bay.
Wai Yuen Tong Medicine Holdings Limited was listed in Hong Kong Stock Exchange (stock code: 897).
In the same year, Wai Yuen Tong was honored with the Hong Kong “Superbrands” award.
In March, Pauline Yam was appointed as the new generation brand ambassador for the Bird’s Nest Pak Fung Pills.
The 25th retail outlet located in Telford Plaza was opened in August.
Wai Yuen Tong began to enter the China market in the hope of building a nationwide network of TCM operations.
Wai Yuen Tong started to develop the China market from Guangdong. Our retail network covers Shenzhen, Dongguan, Guangzhou and other cities neighbouring Hong Kong.
In the same year, the Wang On Group incorporated Luxembourg Medicine Company Limited into the Group’s subsidiary Wai Yuen Tong Medicine Holdings Limited to create a synergistic effect.
In August, the flagship store was opened in Nathan Road.
Wai Yuen Tong moved into Wai Yuen Tong Medicine Building on Wang Kwong Road in Kowloon Bay. The 110,000-square-foot pharmaceutical manufacturing facility features a herb pre-processing plant, manufacturing and packaging operations, QC laboratories and warehouses etc.
In April, Leo Ku was appointed as the brand ambassador for the Ganoderma Lucidum Spores.
In January, Wai Yuen Tong achieved compliance standards for Good Manufacturing Practice (GMP) from the Chinese Medicine Council of Hong Kong and Australia’s Therapeutic Goods Administration.
In August, Wai Yuen Tong’s flagship store in Zhuhai was officially opened.
Wai Yuen Tong “Fuzheng Yangsheng Wan” was designated as a cultural heritage of Chinese herbal medicine in Lingnan, Guangdong Province.
Wai Yuen Tong held the inaugural “123 Charity Event”, which raised HK$500,000 for The Hong Kong Society for the Aged and S.K.H. St. Christopher’s Home to help needy elderly people and children.
Wai Yuen Tong was honored with the “Hong Kong Corporate Brand Award”.
Awarded Hong Kong Top Brand Ten Year Achievement Award by the Hong Kong Brand Development Council Pursuing a strategy of geographical diversification in China, Wai Yuen Tong now operates a network of more than 100 outlets on the mainland, with shops in major cities like Shanghai, Nanjing, Hangzhou and Beijing. More than 60 outlets are in operation in Hong Kong, Kowloon and the New Territories.
In September, Wai Yuen Tong opened the first retail outlet in "The Grand Canal Shoppes,Venetian Macau".
In April,Wai Yuen Tong opened the first concept store in Percival Street Causeway Bay.