On Friday, under the guidance of the China Bicycle Industry Association and hosted by Hello Inc., China’s Bicycle Travel Industry Summit Forum and the 4th Hello Ecological Partner Conference were held in Shanghai. At the forum, Hello Inc. announced the establishment of itsHello Industrial Investment Fund with a total scale of 3 billion yuan ($471 million). The fund has been set up in collaboration with its industrial partners, of which the first phase will raise 1 billion yuan.
At the summit forum, Li Kaizhu, Executive President of Hello Inc., said that the fund will especially focuses on new materials and new eco-technology enterprises in the upstream supply chain of the bicycle industry. Target technologies include AloT, semiconductors, electric systems, energy storage and cascade utilization, energy conservation, and environmental protection, among others. In terms of investment strategy, the fund will pay attention to industrial synergy, focusing on shareholding investment instead of controlling investment.
At present, Hello Inc. has built a complete ecological chain in the bicycle industry with nearly 500 upstream manufacturing partners, covering over 20 product categories such as lithium batteries, semiconductors and communications.
In July 2020, Hello Inc. officially started its own motorcycle business. Cheng Liang, General Manager of the supply side of Hello Inc., said that the company will further promote the integration of the shared business and the Hello motorcycle business supply chain.
At the summit forum, Zheng Xiaoling, Director of the Industry Development Department of China Bicycle Association, said that from January to October 2021, the income of enterprises above the size designated by the national bicycle industry increased by 22.4% year-on-year, and profits increased by 36.8%. The company sees broad prospects in the green travel industry and is looking to focus on the trends of electrification, intelligence and networking within the bicycle travel industry.