The leading heavy cargo logistics company plans to launch an IPO in the near future. Following investments from Ali Group, Goldman Sachs, and China Investment Corporation, it is valued over CNY 10 billion.
According to the announcement from China Securities Regulatory Commission, RRSWL started pre-listing tutoring on November 16 with China Securities Regulatory Commission, Qingdao. The company used to be a subsidiary of Haier Electric (600690:SH) and separated from the parent company in 2018 through an asset swap contract.
Founded in 1999, RRSWL has been focused on providing a logistics platform for large-scale electric apparatus. It services cover 2915 counties in China, with no apparent blind spots. With investment from Ali Group, Goldman Sachs, and China Investment Corporation, the logistics company now is valued at more than CNY 10 billion. The company was selected as one of the 500 Most Valuable Brands by World Brand Lab in 2019 and was selected into Hurun Global Unicorn List twice in 2019 and 2020.
RRSWL focuses on innovation and cutting-edge technology as well. The company built the first heavy cargo logistics unmanned warehouse, and realizes unmanned operation in the whole process of loading, grounding, storing, and unloading. Besides this, the company also led to the first regulation drive on heavy cargo delivery, along with other logistics companies, and promoted the development of China’s logistics sector.