Leo Group invests RMB 27m in ground solution provider Yuetu
Zhejiang-based Leo Group made an investment of RMB 27 million in Yuetu for 9% holding. As a transportation solution provider, Yuetu offers basic information and guidance about train services to individual customers.
Zhejiang-based Leo Group and Shanghai Niutu Investment Management Co., Ltd. have signed an agreement with the former’s shareholders including Kong Qinghe, Wang Jun, Huang Zhimei and Zhuhai Hengqin Kaidi Investment Management Partners as well as Guangzhou Yuetu Co., Ltd. (hereinafter referred to as Yuetu) to invest RMB 27 million in Yuetu, in exchange for 9% of its holding, and the deal with announced by Leo Group in September.
As a transportation solution provider, Yuetu offers individual customers with a free-of-charge basic information and guidance about train services such as time schedule and boarding information. Apart from that, the company also provides paid services such as picking up tickets on behalf for customers, express channels, luggage service, VIP lounge and taxi booking service.
This is not the first time Leo Group makes investment in ground transportation sector. The company signed an agreement with Crip, Che.com and Wang Yuchen (CEO of Ctrip Ground Transportation Business Unit) to invest RMB 15.38 million in Ctrip-owned Shanghai Xicui Information Technology Co., Ltd., for 20% holding.
Shanghai Xicui operates and maintains eticket pickup machines at long-distance bus stations as well as marketing machines for advertising. (Translated by Claire)