15 Chinese Companies to Watch in October 2022 – New Consumption

Consumer Staples Author: 杨斯怡 Editor: Siyi Yang Nov 01, 2022 12:53 PM (GMT+8)

Editor's note: We at EqualOcean tracked the major funding rounds or industry events that took place in China's new consumption space in October 2022. And the following is a list of deals that we have selected for you, based on a number of criteria, including the funding amount, the financial backers, and the segments in which the companies operate.



Chinese IT technology firm Hydsoft Technology Co., Ltd (Chinese: 慧博云通, 301316:SZ) successfully raised CNY 304 million (USD 42.21 million) from its IPO in the Shenzhen Stock Exchange (SSE) on 13 October.

Founded in 2009 in Beijing, Hydsoft focuses on providing services such as software outsourcing and testing and evaluation of mobile terminals, helping users solve the problems of off-site testing, software development and human resources.


TRANSWARP TECHNOLOGY(SHANGHAI)CO., LTD. (Chinese: 星环信息科技, 688031:SH) was listed on Shanghai Stock Exchange on 18 October 2022.

Founded in 2013 in Shanghai, Transwarp is a firm focused on developing big data infrastructure software to help customers build data application systems and business applications to achieve digitization. The company provides software and services for data integration, storage, governance, modeling, analysis, exploration and circulation.


Unipal (Chinese: 有陪宠物) announced the completion of hundreds of millions of CNY in strategic investment. The investors of the funding round include Canming Ventures (Chinese: 灿明创投), Ameba Capital (Chinese: 阿米巴资本), and individual investors.

This financing round will be used to upgrade the supply chain, product iteration, marketing, and further optimize the intelligent digital services for cat-raising scenarios.

Unipal, established in 2019, focuses on researching, developing, manufacturing and selling new home appliances for intelligent cat raising, aiming to provide intelligent all-scene solutions for cat-raising users worldwide.


Zhiwen (Chinese: 职问), a Chinese vocational education platform, raised CNY 50 million (USD 6.84 million) in strategic investment. The round was led by Zhaopin (Chinese: 智联招聘) and Guangzhou NetEase Computer System Co., Ltd. (Chinese: 网易, 09999:HK) and followed by the management team. This round of funding will be mainly used to upgrade the teaching and research service system and explore market channels.

Founded in 2015, Zhiwen is a vocational training and consulting service platform that provides systematic career planning, job search counseling and skills training services for students and new job seekers.


Chinese business services company YYZLTop (Chinese: 一亿中流) raised hundreds of millions of CNY in strategic investment. This round of financing was led by CICC Capital (Chinese: 中金资本) and followed by Fortune Link (Chinese: 东方汇富) and Fenghejinqi (Chinese: 风禾尽起). The funding will be used to promote upgrading the business service platform and core city coverage.

YYZLTop is a business service platform founded in 2017, focusing on 10 million to 100 million level business services to help companies with their planning and development. YYZLTop has formed eight ecological service systems and a service team of over 300 people.


Arrow Home Group Co., Ltd. (Chinese: 箭牌家居, 001322:SZ), a Chinese home furnishing company, was listed on the main board of the Shenzhen Stock Exchange (SSE) on 26 October 2022. Arrow issued 96.61 billion shares at an issue price of CNY 12.68 (USD 1.74) apiece, raising CNY 1.26 billion.

Founded in 1994, Arrow is one of the earliest Chinese ceramic sanitary brands, striving to provide consumers with systematic and intelligent home services. The products of Arrow include smart toilets, bathroom furniture, tiles, and customized closets.

The listing will help Arrow to promote the intelligence of sanitary products and all household products, upgrade the brand, build the home IOT ecology, and expand overseas markets.


Kaidian.cloud (Chinese: 享开店), a Chinese franchise collaboration SaaS service provider, raised tens of millions of CNY Pre-A series round of funding, which was led by SIG Asia Investment (Chinese: 海纳亚洲创投基金) and followed by the previous shareholder Shunwei Capital (Chinese: 顺为资本). In 2021, Kaidian received tens of millions of CNY investments from Shunwei Capital, InCapital (Chinese: 盈动资本) and Challenjers Venture Capital (Chinese: 挑战者创投).

The funding will be used to iterate the product, build the service team and develop new business.



zbj.com (Chinese: 猪八戒网) submitted the prospectus to the Hong Kong Exchanges and Clearing Limited (HKEX) on 14 October 2022, for listing on HKEX.

zbj.com, founded in 2006 in Chongqing, is a platform that provides digital enterprise services. zbj.com connects business employers with service providers through its technology to facilitate transactions and collaborations.


Menghuanhe (Chinese: 东冉芯智能科技) has completed CNY 30 million (USD 4.11 million) in Series A round of financing.

The funding will be mainly used to enhance the market share of its product Menghuanhe hotel vending machine in 2023 and improve the online and offline service system, while giving more back to the partners.

Menghuanhe is a mini intelligent vending machine that can be placed in hotels.

Waluer Information Technology

Beijing Waluer Information Technology Co., Ltd. (Chinese: 挖金客, 301380:SZ) was listed on the Shenzhen Stock Exchange on 25 October 2022. The Company's IPO price is CNY 34.78 (USD 4.76) per share.

Founded in 2011, Waluer provides solutions and services in technology, operations and marketing to address the individual needs of large companies in various industries.

In H1 2022, the company achieved revenue of CNY 302 million and a net profit of CNY 36.49 million, down 0.48% and 9.25%, respectively.


CHINA RES BEER (Chinese: 华润啤酒, 0291:HK) announced on 25 October that it has decided to acquire a 55.19% stake in jinshajiuye (Chinese: 贵州金沙窖酒酒业). Jinshajiuye is a liquor provider in China, mainly engaged in liquor design, production and marketing. The main products are the Huisha liquor series.

OTM Group

OTM Group (Chinese: 中数旅科技) announced that it completed millions of USD Pre-A series round of funding. This financing round was led by Renzhi Capital (Chinese: 仁智资本), followed by previous shareholders CCV (Chinese: 创世伙伴) and Gaorong Capital (Chinese: 高榕资本). The funding is mainly used to develop technology, enhance automated marketing capabilities and connect external ecology.

OTM Group, founded in 2019, is a hotel marketing platform. OTM Group previously completed an angel round of funding of nearly CNY 40 million in March 2021.

Guanmiao Tech

Chinese fresh food SaaS provider Guanmiao Technology (Chinese: 观妙科技) announced on 31 October that it completed tens of millions of CNY in angel funding round. Investors include Vision Plus Capital (Chinese: 元璟资本), Blue Lake Capital (Chinese: 蓝湖资本) and Profound Capital (Chinese: 深涧资本).

The funding will be used for product construction, supply chain optimization, and accelerated market expansion.

Guanmiao Tech launched Fresh Pro in 2022, an all-in-one SaaS platform for fresh agricultural products, which provides digital products and services for agricultural products.

Wenge Group

Wenge Group (Chinese: 中科闻歌), a Chinese data intelligence provider founded in 2017, has raised CNY 500 million (USD 68.42 million) in series E funding round.

The round of funding is invested by China Development Manufacturing Transformation and Upgrading Fund (Chinese: 国开制造业转型升级基金), China Central Television Integrated Media Industry Investment Fund (Chinese: 央视融媒体产业投资基金) and Zhongguancun Science City Technology Growth Fund (Chinese: 中关村科学城科技成长基金), further increasing holdings by senior shareholders INFOTECH VENTURES (Chinese: 盈富泰克), Ever State Capital (Chinese: 恒邦资本) and CAS Capital (Chinese: 中科院资本).

The funds will be used mainly for technology development, team expansion and advancing the development of various businesses.


Chinese data platform provider DTWave (Chinese: 数澜科技) raised tens of millions of CNY in series B+ round of funding. The investment was provided by Hangzhou Yuhang District Government Industry Fund. This round of funding will be mainly used to construct the IDV (Independent Data Vendors ) digital ecological cooperation system.

Founded in 2016, DTWave is one of the earliest service providers in China to enter the field of data middleware.