Core Insights - The CEO of Fengchao Technology, Xu Yubin, has resigned due to health reasons, but the company stated that this will not affect its normal operations [2] - Fengchao's IPO application submitted in August 2024 has officially expired as of February 2025 due to exceeding the six-month validity period set by the Hong Kong Stock Exchange [2][4] Company Background - Xu Yubin has over 20 years of experience in the logistics industry, having previously worked at SF Express from December 2006 to March 2015 before founding Fengchao in April 2015 [2] - Fengchao focuses on optimizing last-mile delivery services and is headquartered in Shenzhen, Guangdong [2] Business Operations - Fengchao provides services across logistics, community services, and advertising, utilizing smart lockers for last-mile delivery solutions [2] - As of May 31, 2024, Fengchao operated 330,000 smart lockers across 31 provinces in China [2] - The company is recognized as the largest provider of last-mile logistics solutions in China based on 2023 revenue [2] Financial Performance - Fengchao has historically been in a loss-making position, but the losses have been narrowing over time [3] - In the first five months of 2024, Fengchao achieved profitability year-on-year, driven by significant growth in last-mile delivery service profitability and the rapid development of value-added services [3] - The company reported delivering 6.463 billion packages in 2023, accounting for 5%-6% of the national express delivery volume [2] Controversial Practices - Fengchao's model of charging for delayed package storage has faced public scrutiny, with the company offering an 18-hour free storage period and charging a minimum fee of 0.5 yuan per 12 hours thereafter [3] - From 2021 to the first five months of 2024, Fengchao collected fees for approximately 1.615 billion delayed packages, totaling around 807 million yuan [4]
丰巢创始人徐育斌被曝已辞职，20年物流经验做“最后一公里”业务，赴港招股书超期失效
Sou Hu Cai Jing·2025-10-15 11:24