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.