New car B2B platform "Niuniu Auto" received 110 million yuan in Series B financing led by Kaitai Capital
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It is understood that Niu Niu Auto is a leading domestic B2B platform for new cars. It has built a distribution network for national auto brands and provided vehicle sales, logistics, finance and other supply chain services to more than 100,000 new car dealers. At present, the platform has reached in-depth cooperation with more than 20 auto manufacturers, covering and penetrating 80% of the country's third- and fourth-tier cities and below. Niu Niu has formed a strong brand influence in the automobile circulation system and built a solid trust system among various trading entities. After three years of solid operation, the service platform barriers have been gradually established. Based on a huge merchant system, it has achieved rapid distribution and circulation from M to small B, and has grown rapidly from distributing 100 units per month to a service platform with a single distribution capacity of 10,000 units, but the company's business personnel have not increased. "If you only see Niu Niu as a company that has established an Internet distribution platform and has strong distribution capabilities and can have stable profits, it only shows that you don't understand Niu Niu's business model at all," said Chen Yanjun, CEO of Niu Niu Auto. "Niu Niu is a pragmatic company. We have a clear vision and development plan. Every step forward must be very solid and must achieve results, just like our mature logistics services and newly started financial services. In terms of logistics prices, Niu Niu has achieved 70% off the industry average, and is even more than 15% lower than the prices of many professional logistics platforms. Niu Niu Auto has achieved profitability and is expected to have a net profit of tens of millions this year." Chen Yanjun also revealed that after this round of financing, the team will continue to upgrade existing vehicle sources, logistics, finance and other services, while vigorously entering offline transaction scenarios, using the advantages of the supply chain to comprehensively empower dealers, and completely open up the transaction closed loop of manufacturers->Niu Niu Auto->offline stores->C-end customers. Regarding the current hot auto finance direction, Chen Yanjun said that finance is essentially a derivative service of transactions. In the next three years, whoever can build the most powerful auto distribution capabilities will be able to master the most auto transaction scenarios, and then implanting finance in the scenarios will be natural. There is no need to desperately acquire customers and buy scenarios like most auto finance companies do now. Niu Niu Auto will use its gradually built transaction scenarios to increase the development and penetration of 2B and 2C auto finance products in the second half of the year. Zheng Hualiang, executive president of Kaitai Capital, said that in the automotive industry chain, Kaitai Capital pays attention to the value innovation opportunities brought by the Internet and information technology, focusing on the layout of auto finance, B2B transactions, data platforms, and auto aftermarket services. As a research-based investment institution, Kaitai Capital has been paying attention to similar companies like Niu Niu for some time. Whether it is from the recognition of auto manufacturers or the trust of dealers, Niu Niu Auto is second to none. Especially this year, Niu Niu Auto's strength has been extremely beautiful. As an investor in the last round of NiuNiu Auto, Zhongjun Capital firmly chose to follow up with a large amount of investment. At the same time, Zhongjun Capital is also the most focused new institution in the domestic automotive industry, with in-depth layouts in the fields of automotive industry Internet, new energy, and intelligent networking. Partner Chang Jingying said that the most promising field in the automotive Internet is new cars. China's automobile production capacity is seriously oversupplied, and the capacity utilization rate is less than 60%. The distribution of automobiles is the only way to realize the entire industry. Most of the host manufacturers are poorly managed or even lose money. The main reason is that product positioning relies on guesswork and distribution capabilities are limited. In the future, cars will become more and more difficult to sell, and competition between manufacturers will become more intense. In the future, Internet giants will emerge in the field of new car distribution. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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