On Tuesday, Chinese bike-sharing giant Hello Inc. announced that it had reached a strategic cooperation agreement with SF Express’s SF Intra-City. According to the plan, the strategic cooperation between the two firms will take the lead in the two-wheeler power exchange infrastructure, and will be extended to local life services in the future. At present, the two sides have started cooperation in 18 major Chinese cities across the country.
According to the prospectus released by SF Intra-City, Hello Inc. has recently joined the cornerstone investors of its IPO of Hong Kong stocks. “The attention and investment of SF Intra-City and SF Express in riders and couriers is impressive,” Zhou Shufeng, president of Xiaoha Power Exchange under Hello Inc., revealed.
It is worth noting that Alibaba will also become a cornerstone investor of SF Intra-City, carrying out business cooperation with SF Intra-City in the fields of marketing, supply chain, logistics and distribution and software technology.
Ren Lingyuan, head of the Investment and Enterprise Development Department of Hello Inc., says that third-party instant distribution platforms are important in local life services. As a cornerstone investor, this strategic investment in SF Intra-City means it is optimistic that the firm will grow into a force that can not be ignored in this field in the future, and on the other hand, Hello Inc. hoped that both companies will reach strategic cooperation in various fields.
At the same time, in order to further accelerate the ecosystem of the group, Hello Inc. will set up an industrial investment fund. Based on Hello Inc.’s long-term development strategy, the fund will invest in high-growth science and technology enterprises related to Hello Inc.
According to public information, SF Intra-City is currently the largest third-party on-demand delivery service platform in China. As of May 31, 2021, its business has covered more than 1,000 cities across the country, benefiting 530,000 merchants and 126 million individual users. Besides, SF Intra-City has passed the listing hearing of the Hong Kong Stock Exchange (HKEx) and started offering shares on November 30 of this year.
Hello Inc. is a local travel and life services platform, which has launched services including two-wheeler vehicle sharing, ride-hailing and local life services. In June, 2019, Hello Inc., together with CATL and Ant Group, jointly funded the two-wheeler electric vehicle brand Xiaoha Power Exchange and established an energy network of two-wheeler electric vehicles. By the end of August, 2021, Xiaoha Power Exchange had covered more than 300 cities, completing hundreds of thousands of times of power exchange services per day.