Xingyuan Auto

About Xingyuan Auto

Beijing Xingyuan Automotive Information Technology Co., established in December 2016, functions as a comprehensive, internet-based service provider for the automotive sector. The company was founded by Shao Jingning, who identified an opportunity to address the mismatch between production and sales in China's auto market by leveraging emerging technologies like mobile internet and big data.

The firm's strategic focus is on creating a more efficient and user-centric marketing and sales ecosystem within the auto industry. It offers a suite of services that includes vehicle wholesale, internet marketing solutions, and operational support for online dealerships. The business model is designed to deepen the connections between vehicle manufacturers, dealers, automotive products, and the end consumers. Xingyuan Auto's operations span the full automotive industrial chain, encompassing new and secondhand cars, as well as ancillary services like auto finance, insurance, and aftermarket products.

The company has demonstrated notable traction in securing capital, initially raising CNY 300 million in an angel financing round. This was followed by a substantial Series A funding round in March 2018, which brought in CNY 500 million (approximately USD 79 million). This round was led by Vered Holdings Corp. and Guoxing Fund Management Co., with participation from Yi Capital and Anda Capital Co. The stated goal for this capital infusion was to expand the company's network across carmakers, dealers, products, and users, thereby reinforcing its market position.