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Zhu Bixin met with Wumart founder

General Office     2021-02-07         

On February 4, China Chengtong’s Secretary of the CPC Committee and Chairman Zhu Bixin met with Zhang Wenzhong, Wumart Stores Inc. (Wumart) founder and Chairman of Dmall (Beijing) E-commerce Co., Ltd. (Dmall). The two sides discussed about strengthening further cooperation.

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Zhu Bixin introduced China Chengtong’s history of development, achievements attained by the four major operation platforms, namely fund investment, equity operation, assets management and financial services, and the development of warehousing, logistics and trade. Zhu spoke highly of Chairman Zhang Wenzhong’s business vision. Dmall is a model company in the digital transformation and supply-side structural reform of China’s consumer industry, Zhu said. China Chengtong is willing to support Dmall and innovation of the country’s traditional retail industry by making full use of capital operating company’s advantages in order to contribute to a stronger and bigger domestic consumer market and satisfy the growing material and cultural needs of the people.

Zhang Wenzhong welcomed Zhu Bixin and shared the strategic thought behind Dmall’s support to retail companies’ digital transformation. Zhang said that Dmall has a rich retail experience, which can provide a full range of digital transformation services for traditional retail enterprises, and help retail enterprises improve efficiency and better meet the needs of consumers. Zhang noted that China Chengtong has contributed greatly to SOEs’ reform and the company’s support of Dmall’s innovation-based development through fund investment has achieved desirable results. He hoped that the two parties could enhance their cooperation to strive for win-win outcomes.

Zhu Bixin visited Dmall headquarters and Wumart headquarters, was briefed Dmall’s business development status and Wumart’s history of development.

Founded in 2015, Dmall is an omni-channel retail digital platform enterprise, helping retail enterprises realise digital transformation comprehensively and provides them with retail joint cloud services. Till the end of 2020, Dmall has collaborated with 120 chain stores and supermarkets covering more than 13000 outlets across the country. In October 2020, Dmall finished 2.8 billion yuan Series C round of financing, in which China Structural Reform Fund and Xingtou Capital (an equity investment platform under Industrial Bank Co., Ltd.) were leading investors.

Relevant personnel from CCT Fund, China Chengtong’s General Office, Wumart and Dmall attended the meeting.

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