SingPost today stepped up its involvement in the Chinese e-commerce logistics sector by doubling its stake in Shenzhen 4PX to nearly 36%.
The company has purchased an additional 17.91% of the equity in Shenzhen 4PX Information Technology Co. Ltd (“4PX”) for RMB 163.16 million (about S$36 million). Under the deal, SingPost through its wholly-owned subsidiary Quantium Solutions International Pte. Ltd. (“QSI”) increases its equity interest in 4PX from 18% to 35.91% through the purchase of vendor shares (for RMB 113.16 million or about S$25 million) as well as new shares (for RMB 50 million or about S$11 million).
Headquartered in Shenzhen, 4PX is one of China’s top eCommerce cross-border solutions providers, serving more than 20,000 merchants in more than 50 locations in China and globally. The capabilities that 4PX offers its customers include logistics (warehousing, express delivery and freight forwarding) as well as software and consulting services for eCommerce sellers.
Ms Goh Hui Ling, Deputy CEO (International Mail) of SingPost, said: “The additional investment in 4PX, with its extensive logistics capabilities in warehousing, express delivery and freight forwarding, is a key part of SingPost’s strategy to strengthen our integrated end-to-end eCommerce logistics solutions and to leverage on the rapid growth in China’s eCommerce activities.”
Kevin Li, Founder and Chairman of 4PX, added: “SingPost’s additional investment in 4PX will help 4PX to enhance its overseas operations. It will also provide China cross-border eCommerce merchants and consumers with better eCommerce logistics solutions and services, as well as propel 4PX to become the market leader in China cross-border eCommerce.”
Formed in 2004, 4PX has more than 2,600 employees and operates warehouses in China, Australia, UK, Germany and the US.
