Founded in 2010, the Nanjing-based company is a subsidiary of Nanjing-based Five Stars Appliance, one of the largest retailers of its type in China. Huitongda is a logistics e-commerce firm with a specialised focus on rural consumers in China. It distributes household appliances like air-conditioners, TVs, refrigerators, washing machines, kitchens and other consumer electronics, often consolidating mom-and-pop stores by bringing them into its supply chain.
The platform is so successful it now manages more than 140,000 retail outlets in more than 20 provinces, distributing goods worth Rmb400 billion in gross merchandise value. Alibaba, which has been actively courting rural consumers, is an investor, putting in Rmb4.5 billion in 2018. The company, which is reported to be worth about $5.5 billion, filed a preliminary prospectus in mid-June 2021 for an IPO in Hong Kong.
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