February 18, 2022, The portfolio company of Shunwei Capital, a sub-fund invested in by Yuanhe Chukun Management’s flagship fund—Huitongda—has been listed on the Main Board of the Hong Kong Stock Exchange under the stock code 9878.HK, becoming the first publicly traded company to emerge as a leader in digital commerce for China’s rural businesses.

Founded in 2010, Huitongda is a transaction and service platform tailored for the lower-tier markets, serving corporate clients in China's retail industry. Leveraging innovative business models and digital capabilities, it provides integrated services to stakeholders across the retail value chain, including hybrid online-and-offline supply-chain solutions, store-based SaaS + services, and customized merchant solutions.

From a business perspective, in the trading segment, Huitongda sources products directly from suppliers and primarily distributes them through its own Huitongda Mall website—targeting both channel partners and member-owned retail stores. Initially focused on home appliances, the product portfolio has since expanded to include six key categories: home appliances, consumer electronics, agricultural production supplies, transportation solutions, alcoholic beverages, and home & building materials. As of the nine months ended September 30, 2021, the total number of product SKUs exceeded 175,000.

In the service business segment, leveraging digital capabilities, we primarily offer store-based SaaS solutions and merchant-specific services to retail outlets and channel partners across the industry value chain. As of September 30, 2021, Huotongda had already served 160,000 member stores in 20,000 towns across 21 Chinese provinces, with over 70,000 users utilizing our SaaS products and more than 15,000 paying customers subscribed to our premium SaaS offerings.

According to a report by Frost & Sullivan, Huitongda ranks first among China's transaction platforms serving retail industry enterprise customers, based on the scale of its 2020 business targeting lower-tier markets.