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Main Business

The main operating company of Xiangxin is Xiangxin (Tianjin) International Freight Forwarding Co., Ltd., which mainly engages in port container land transportation business, providing upstream cargo owners with a full range of services such as pricing and ordering, vehicle reservation, container pickup and unloading, cargo loading and unloading, port services, etc., and providing downstream truck drivers with transportation tasks and their settlement income, etc. It is a platform service provider and land transportation company connecting cargo owners, truck drivers, and ports.

Operational Model

Xiangxin uses a unique "eliminating empty driving and idle" method to operate efficiently, solve industry pain points, efficiently acquire customers, and provide freight forwarders and other logistics demanders with traceable, low-cost, high-quality one-stop container road transportation services. The company has deeply cultivated the Tianjin Port market, firmly established its leading position in the North China market, and rapidly expanded into the East China and South China regions. At present, Xiangxin has rapidly expanded in Shanghai Port and has completed its basic layout in Shenzhen Port, successfully achieving rapid cross-regional and large-scale replication.

About the Team

Xiangxin has a strong technical team, with core members from well-known Internet companies such as Baidu Maps, Alibaba, and Tencent. Through new technologies such as big data and artificial intelligence, Xiangxin models based on rules and path algorithms, fully considering the two major factors of timeliness and cost, thereby realizing online intelligent scheduling and greatly improving logistics efficiency. In addition, Xiangxin also provides a complete set of multi-terminal intelligent information systems with complete functions and easy to use for truck fleets, truck drivers, and upstream customers, with transparent and accurate real-time quotation functions and free order management functions. The former provides different prices according to peak and valley time periods, and customers can easily place orders online with one click. The latter can realize the visualization of transportation processes such as truck positioning, and improve customers' transportation management efficiency.

Financing

In 2016, it completed a seed round of financing of 10 million yuan from individual investors.

In 2018, it completed a tens-million-level angel round of financing led by New Cognitive Fund.

In October 2020, the container logistics cloud platform "Xiangxin" completed its Series A financing invested by China Merchants Group. This round of financing will be used to strengthen the construction of the port container logistics ecosystem, provide services around the port-customer-driver, and use the intelligent dispatching system to reduce the empty driving rate and idle rate of vehicles, thereby helping users to reduce costs and improve efficiency.

References

• 1. Container road transport platform "Xiangxin" received Series A investment from China Merchants Venture Capital: Baijiahao [cited on 2020-10-12T16:00:00.000Z]