39207 - GuiYang HuoCheBang

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Summary of Investment Information

Project Number

39207

Company Name

GUIYANG HUOCHEBANG TECHNOLOGY CO., LTD.

Date SPI Disclosed

Nov 17, 2016

Country

China

Region

East Asia and the Pacific

Projected Board Date

Dec 19, 2016

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Jun 11, 2022

Department

Equity Portfolio Management

Industry

Infrastructure

Previous Events

Approved : Dec 20, 2016
Signed : Dec 21, 2016
Invested : Jan 20, 2017

Sector

Other (Including General Freight Trucking)

Project Description

HuoCheBang is a China-based, nation-wide, long haul logistics B2B platform. It brings together cargo shippers and truck drivers through its online load board to improve efficiency in the Chinese long haul logistics industry, and increases income while lowering cost for truck drivers and providing additional services.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	15.0

Development Impact

1) Increased access to quality service: HuoCheBang helps provide cargo shippers and truck drivers with higher quality value-added services through the creation of a more transparent market.
2) Efficiency Improvement: Improving the efficiency of China''s freight logistics market by reducing (a) vacancy for trucks; (b) average number of days for truck drivers to find the next load; (c) intermediary cost
3) Additional Income for truck drivers: Enabling additional income for truck drivers and reducing shipping costs for shippers who can grow their businesses through HuoCheBang''s logistic network and ecosystem.

1) Long term financial partner for the Company: HuoCheBang is expected to benefit from IFC''s patient capital and flexibility in structuring and investment products. IFC can offer loans and assistance in obtaining support from local banks as HuoCheBang expands in the value chain.
2) Enabling overseas growth: HuoCheBang currently serves China''s long haul logistics market, but is interested in international expansion. IFC''s global network and customer base could help with the overseas expansion.
3) Stamp of Approval: HuoCheBang''s priority is to improve the efficiency of the long haul logistics sector and to extend value added services to truck drivers, which requires it to continue to build trust and branding with multiple stakeholders in the ecosystem. IFC''s reputation and experience in China and globally as the leading financial institutions in transport and sustainability will lend more credibility to a growing Chinese company.

E&S Category Rationale / Risks and Mitigation

This project has been categorized as C according to IFC’s Environmental and Social Sustainability Policy. HuoCheBang is a primarily online long haul logistics B2B platform and its activities involve minimal or no adverse environmental and social risks and impacts. The Company brings together cargo shippers and truck drivers (customers) through its online load board to improve efficiency in the Chinese long haul logistics industry. HuoCheBang provides comprehensive services including (1) online marketplace that enables shippers and truck drivers to match and transact, and (2) financial services such as micro-lending to truck drivers; and (3) national level big data on freight logistics.

The Company has a developed standard procedure and audit checklists to verify customers’ identity, including verification of truck drivers’ driving licenses. As an IT platform the Company is not involved in the shipment, including negotiating of terms, of any freight between its customers. The Company has a team of about 1700 employees (IT team, Call center, back office, admin, etc.) working in four rented offices in Guiyang, Chengdu, Beijing and Shanghai as well as 160 small rented spaces in major logistic centers in China. The Company’s HR policies are consistent with the requirements of local labor laws as well as IFC Performance Standard 2.

The Company has developed a standard procedure and audit checklists to verify customers’ identity, including verification of truck drivers’ driving licenses. As an IT platform the Company is not involved in the shipment, including negotiating of terms, of any freight between its customers. The Company has a team of about 1700 employees (IT team, Call center, back office, admin, etc.) working in four rented offices in Guiyang, Chengdu, Beijing and Shanghai as well as 160 small rented spaces in major logistic centers in China. The Company’s HR policies are consistent with the requirements of local labor laws as well as IFC Performance Standard 2.

Contacts

For Inquiries About the Project, Contact

Company Name: Guiyang Huochebang Technology Co. Ltd
Address: No. 123, Development Boulevard, Guiyang Economic Development Zone

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

Company Name: Guiyang Huochebang Technology Co. Ltd
Address: No. 123, Development Boulevard, Guiyang Economic Development Zone

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