Electronics Recycling Unicorn Aihuishou Expects CNY 20 Billion GMV in 2019

Author: Yuanpu Huang Dec 12, 2018 07:22 PM (GMT+8)

Aihuishou (爱回收), a Shanghai-based online and offline secondhand electronics recycling company unveiled its estimated performance of 2018: Transaction volume is exceeding CNY 7 billion; secondhand cellphone traded will surpass 10 million pieces. 

Aihuishou (爱回收), a Shanghai-based online and offline secondhand electronics recycling company unveiled its estimated performance of 2018: Transaction volume is exceeding CNY 7 billion; secondhand cellphone traded will surpass 10 million pieces. 

The performance is encouraging for both Aihuishou and its founder CHEN Xuefeng (陈雪峰), who said in the mid of this year that his company finished CNY 4 billion transaction volume in 2017, that means a huge 75% increase compare 2018 to the last year. And in July 2018, Aihuishou completed a new round USD 150 million financing from Tiger Global and Chinese e-commerce giant JD.com, made the company a unicorn with a value north of USD 1.5 billion.

As of November 2018, Aihuishou has set up 7 operation centers, with 350 recycling stores in more than 35 Chinese major first and second-tier cities. The company is also actively laying out business in overseas markets including Hongkong, Dubai, India, Russia, and Brazil. Earlier this year, Aihuishou made investments in Indian online electronics company Cashify, and Brazilian counterpart Trocafone. 

Aihuishou would invest USD 200 million to support its global expansion, CHEN said at a news conference in June. The ambition primarily based on Paijitang, a B2B platform introduced by Aihuishou in early 2018 connecting thousands of secondhand electronic supply chain players worldwide. Progress has been made, with Paijitang’s GMV increased from 9 million in January to 600 million in November, according to the data disclosed by the company.

“Aihuishou has already qualified for IPO in terms of financial performance and governance compliance”, CHEN said in mid of 2018, “We prefer Hongkong or Nasdaq for IPO, but have no specific plan at the moment”. 

Aihuishou expects to reach about CNY 20 billion transaction volume next year in 2019, the company added.