Xingsheng Selected, which is best known for its Xingsheng Youxuan shopping app, is an online-to-offline (O2O) grocery seller. The brand was created by Rurong Xingsheng, a convenience store chain with a strong presence in southern and central China. Its business model is based on community group-buying in which consumers can purchase fresh produce and other daily supplies through WeChat and then pick up their goods from convenience stores in their neighbourhoods.

Xingsheng raised about $2 billion in a new funding round in February that was reported to have valued the company at $6 billion prior to the new capital raise. Participants in the round included private equity firms FountainVest Partners, Primavera Capital Group and KKR, as well as Tencent.


© ChinTell Ltd. All rights reserved.

Sponsored by HSBC.

The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.