Xingsheng Youxuan
Funding History
| Series C+ · 07/2020 | $4.0B |
|---|---|
| Strategic Follow-On (Tencent) · 01/2021 | $5.0B |
| Growth Round (Sequoia-led) · 02/2021 | $8.0B |
| Strategic Round (OTPP-led) · 07/2021 | $12.0B |
About
Xingsheng Youxuan operates a community e-commerce platform out of Changsha, Hunan, using a 'pre-order online, pick up the next day at a nearby store' model for groceries and daily necessities, delivered through a three-tier logistics network of central warehouses, grid distribution stations and community storefronts.
- Headquarters
- Changsha, Hunan, China
- Founded
- 2014
- Website
- xsyxsc.com
Overview
Xingsheng Youxuan (兴盛优选, formally Hunan Xingsheng Youxuan E-commerce Co., Ltd.) is a Changsha, Hunan-headquartered community e-commerce platform built on a "pre-order + next-day self-pickup" model: residents order fresh produce, meat, and daily necessities online through community group leaders, and collect the bulk orders the next day at a nearby convenience store rather than receiving individual home delivery.
The platform grew out of Furong Xingsheng, a small-format convenience-store chain founder Yue Lihua began building in Hunan starting in 2001, which he began digitizing into an e-commerce pilot in July 2013; the platform launched in early 2014. By 2019 the platform's annual transaction volume had surpassed RMB 10 billion, and it went on to raise a series of large rounds from Sequoia Capital China, Tencent, KKR, JD.com and others through 2021, reaching a reported $12 billion valuation.
Xingsheng Youxuan pioneered China's community group-buying category and, after Meituan, Pinduoduo and JD.com all entered the space with heavy subsidies from 2020, it was one of the few independent players not acquired or shut down as national rivals consolidated (Dingdong Maicai's China operations were later agreed to be sold to a Meituan subsidiary, per a deal announced February 2026). Since 2023-2024 the company has pulled back from a national footprint to concentrate on its Hunan, Hubei and Jiangxi home markets, prioritizing profitability over growth.
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