Country for PR: China
Contributor: PR Newswire Asia (China)
Monday, May 20 2019 - 18:29
Jiuye SCM Lands C+ Financing from CMH Growth Fund
SHANGHAI, May 20, 2019 /PRNewswire-AsiaNet/

-Jiuye SCM Poised for Future Growth Following C+ Financing from CMH Growth Fund 

Jiuye Supply Chain Management ("Jiuye SCM" or "the Company"), China's leading 
cold chain service provider, has completed its Series C+ funding led by CMH 
Growth Fund. Proceeds from the financing are to be used for the development of 
the cold chain logistics platform and Freshcn -- the Company's global fresh 
food direct services platform.

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The recently completed round represents Jiuye's sixth injection of investment 
in 4 years. In February 2019, the Company received strategic investment from 
Thailand's Chia Tai Group. Jiuye SCM's major shareholders now include Hong 
Kong-listed Sino-Ocean Group, Chia Tai Group, and Hong Kong-based state-owned 
China Merchants Capital. The new announcement makes Jiuye the largest cold 
chain logistics platform in China.

Founded in 2014, Jiuye SCM is a modern supply chain company that provides 
one-stop services for fresh produce and food for companies in the agriculture, 
e-commerce, and food processing industries. The Company has developed both 
business-to-business (B2B) and business-to-consumer (B2C) models.

Jiuye SCM's B2B shipping platform is powered by its 30 "cloud warehouses", 
complete with a transportation monitoring system which utilises GPS and 
temperature sensing technologies to achieve traceability and temperature 
visualization for smart cold storage and delivery. With its managed online 
network, a fleet of 2,000 vehicles and more than 1,500 established routes, 
Jiuye can distribute to thousands of retailers nationally within optimal time 
to a customer's door in 24 hours across on 502 routes nationwide. 

The Company's B2C delivery service handles as many as 200,000 daily orders, 
with an annual growth rate of 50%. Jiuye industrial warehouses are equipped 
with multi-temperature zones, ranging from constant, variable, and low for 
freezing and refrigerating between -60 degrees C to 25 degrees C, allowing safe 
and efficient storage of products 

"We will use the proceeds from the latest round of financing to expand our 
development in IT technology and fresh cloud warehousing to build a global 
fresh supply chain service platform," said Zhang Bing, CEO of Jiuye SCM. "The 
industry generally is experiencing low IT integration and below standard 
quality of fresh produce. Jiueye SCM aims to upgrade our supply chain 
techniques to push the overall development of the industry. Currently, we help 
more than 1,000 agricultural and food business customers at home and abroad to 
manage an inventory of nearly 15,000 SKUs," said Zhang.

Guo Dehong, general-manager of CMH Growth Fund, said: "The new round of 
investment is set to help Jiuye SCM to keep its leading position in the 
country's cold chain industry as it develops a more advanced supply chain 

About CMH Growth Fund

CMH Growth Fund (China Merchants Mizuho Growth Fund), jointly funded by China 
Merchants Capital, is a wholly-owned subsidiary of state-owned China Merchants 
Group, and Japan's Mizuho Financial Group, the second largest financial 
institution in Japan. CMH Growth Fund primarily invests in companies with 
high-end technology, leading brand quality and promising market expansion in 
Greater China. China Merchants Capital has total assets of more than RMB 270 
billion (about US$39 billion).

About Jiuye SCM

Jiuye Supply Chain Management, founded in 2014, is a leading one-stop 
cold-chain fresh service platform in China that integrates cutting-edge 
technology to meet growing consumer demand. The Jiuye developed Cloud Platform 
enables all parties in the supply chain to connect in real-time, making visual 
mobilization and collaboration possible.

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