The invention discloses a novel compound formed by the chemical coupling of a diphenylethlene compound and derivatives thereof as well as thiazolidine or oxazolidine midbody and a preparation method thereof. The invention also discloses a plurality of pharmaceutical applications of the compounds: reducing blood sugar, serum insulin level and triglycercide level of a diabete II animal model, treating diseases related to the insulin tolerance, such as polycystic ovary syndrome, hyperlipemia, coronary disease and ambient vascular diseases, and also treating inflammations and immunological diseases, especially diseases mediated by cytokines and cyclooxygenase cox, such as THF-Alpha, IL-1, IL-6 and/or COX-2.