Log56

About Log56

Hefei Weitian Yuntong Information Technology Co., Ltd., which operates under the brand name Log56 (also known as Luge), is a key player in China's digital freight sector. Founded in 2002 by Feng Lei in Beijing as Beijing Yihe Jiaxun, the company initially focused on providing SaaS products for the freight industry. In 2010, Feng Lei and Du Bing established the current entity in Hefei, expanding the vision to create a comprehensive information platform for the entire logistics industry chain. This move marked a significant acceleration in the company's growth, leading to its listing on the Hong Kong Stock Exchange in March 2023, an event that positioned it as the first digital freight platform on that exchange.

The company's business model is centered on creating a digital ecosystem for road freight in China. It provides end-to-end digital freight services and solutions that connect shippers, such as logistics companies and cargo owners, with truck drivers. Revenue is generated from its digital freight services, where it acts as the legal carrier and settles freight charges, a metric it refers to as online Gross Transaction Value (GTV). By the end of 2021, the company had served over 9,600 shippers and 2.3 million truck drivers, completing more than 28.7 million shipping orders. As of June 2024, its platform handles an average monthly online GTV of approximately 3 billion RMB and has served over 15,000 shippers.

Log56 operates two main business segments: a digital freight platform and a truck driver community called "Kayoutidai" (Card Friends Zone). The digital freight platform offers solutions for digital freight procurement, digital business operations, and digital financial settlement, enabling logistics companies to digitize their entire transportation process. This service facilitates more efficient coordination between shippers, carriers, and drivers. The "Kayoutidai" community, one of the largest for truck drivers in China, provides a space for drivers to communicate and support each other, and it also offers a range of after-market services under the "Kajia" brand to improve drivers' operational efficiency.