GLP-backed Chinese logistics player ZJS Express bags $153m in Series B round

ZJS Express, a Beijing-based logistics and delivery services operator, announced on Tuesday that it has raked in nearly 1 billion yuan ($153 million) in a Series B round of financing.

The funding round saw participation from new investors Sino-Ocean Capital, an alternative asset manager with over 100 billion yuan ($15 billion) in assets under management, and Ningbo Hanrun Investment, besides returning backer Gaolin Capital.

With the latest proceeds, ZJS plans to shore up its smart supply chain and deliver better-integrated delivery services for enterprises, it said in a WeChat post.

In 2018, ZJS had secured 1.2 billion yuan ($183 million) in a Series A round funding from Gaolin Capital, biological medicine-focused Tasly Holding Group, Haier Financial Holdings’ Haichuang Funds of Funds, and the logistics and infrastructure-led investor GLP, among others.

In 2014, ZJS had completed a 500 million yuan ($76 million) pre-A round fundraising from the consumer group Fosun and Hatong Securities’ subsidiary Haitong Kaiyuan.

Since its inception in 1994, ZJS Express has been operating logistics and express services spanning storage, sorting, packaging, and distribution.

In 2007, it established about 4,500 support branches in the country. It has also launched international express services that cover over 220 countries and regions.

Now, ZJS is ramping up efforts to spruce up its capacities in IT infrastructure, supply chain finance, and market expansion. It plans to achieve up to 100% business growth in the next 3-5 years, the company said in the statement.

Gaolin Capital is the largest shareholder in ZJS, directly holding a 33% stake, while Tasly Holding’s Shanghai Hetai Investment and Alibaba-backed Easyhome are the second- and third-largest shareholders with 25% and 12.5% stake respectively. GLP owns a 2.5% stake. 

ZJS competes with SF Express, EMS, YTO Express, JD Express, ZTO Express, and STO Express in the Chinese logistics market. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.