China's Leading Secondhand Platform "Zhuanzhuan" Lands in Hong Kong as OASES Announces Sixth Batch of Strategic Enterprises

Zhuanzhuan Group ("Zhuanzhuan" or the "Group"), China's leading circular economy consumer company, is pleased to announce its official signing as a strategic enterprise partner of the HKSAR Government. The Group will establish its international headquarters in Hong Kong as a strategic hub for global market expansion, extending its second-hand goods trading platform services to overseas markets. Zhuanzhuan plans to introduce its "AI Valuation System" and "Official Inspection & Authentication AI Quality Control" technologies to Hong Kong, while also establishing a research and development (R&D) center. This move is expected to foster mutually beneficial partnerships with Hong Kong across various fields, including the digital economy and green industries.

Huang Wei, Founder and CEO of Zhuanzhuan, stated: "The Group has been expanding its business presence in Hong Kong since 2017. Seizing this opportunity to collaborate with the HKSAR Government to establish our international business headquarters here marks a major strategic milestone in Zhuanzhuan's global expansion, and we are incredibly thrilled. Hong Kong possesses the unique advantage of serving as the hub connecting the domestic and global markets, coupled with a mature capital market and an open business environment. This aligns closely with Zhuanzhuan's international strategy, making Hong Kong our ideal base for international expansion."

As a top-tier secondhand trading platform in China, Zhuanzhuan has experienced rapid growth since its establishment in 2015. It owns multiple renowned secondhand brands, including Zhuanzhuan, Zhaolianji, and Plum. With China's second-hand circular economy sector attracting significant attention from the capital market, Zhuanzhuan stands out with its pioneering "Tech-driven Official Inspection & Authentication" service for second-hand quality checks, successfully earning platform users' trust. The Group has secured support from notable enterprises and investors such as Tencent, Xiaomi, and 58 Group, achieving a valuation exceeding US$3 billion (approximately HK$23.4 billion) in its latest funding round. Last year, its total revenue surpassed RMB 20 billion, with over 400 million registered users and 50 million monthly active users.

Differentiating itself from the traditional C2C model represented by companies like Carousell and Xianyu, Zhuanzhuan utilizes a mature C2B2C business model to provide specialized platform services centered on "Platform Intermediation, Professional Authentication, and Quality Assurance". Its pioneering "Tech-driven Official Inspection & Authentication" service conducts comprehensive and rigorous testing on secondhand goods, providing exclusive quality inspection reports for public display. The vast majority of officially verified products enjoy value-added services such as a 7-day unconditional returns, a one-year platform warranty, and free shipping within mainland China. Through standardized quality control and after-sales guarantees—implementing strategies such as "inspect before shipping," "return if unsatisfied," and "compensation for inspection errors"—Zhuanzhuan delivers a premium "what you see is what you get" experience for consumers.

Technology-driven innovation is the core engine keeping Zhuanzhuan at the forefront of the industry. The company established a dedicated AI division last year, planning to invest RMB 2 billion over three years in R&D of AI quality inspection, intelligent matching, and other tools. Launched earlier this year, the "AI Photo Authentication" has been extensively applied in luxury goods authentication. Based on a massive database of authentic product images and deep learning algorithms, the system dramatically reduces the traditional 15-minute manual authentication process to "instant authentication", delivering results in as fast as 1 second—a nearly 900-fold increase in efficiency. Furthermore, in the authentication of core bag categories, it has achieved an ultra-high accuracy rate with an error rate below 0.01% (since launch, over 10,000 LV bags verified with only one error), completely breaking through the inconsistent standards and efficiency bottlenecks in traditional non-standardized goods trading and manual authentication.

Huang Wei further noted that as an international financial center and innovation technology hub, Hong Kong provides Zhuanzhuan with an international gateway and cross-border resource integration platform. Zhuanzhuan will leverage Hong Kong to export its digitalized "technology + service" model, validated in the mainland market, to global markets including Southeast Asia, the Middle East, and North America. Simultaneously, it will bring its mature C2B2C e-commerce model and advanced AI technology applications to Hong Kong, supporting the city's smart city development. The establishment and operation of Zhuanzhuan's international business headquarters are expected to strengthen Hong Kong's role as a digital economy and cross-border e-commerce hub while promoting the development of related digital technologies and service trade. The Group looks forward to contributing to Hong Kong's green innovation and technology ecosystem and jointly promoting China's second-hand circular economy onto the world stage.

Hashtag: #Zhuanzhuan #CircularEconomy #SecondhandPlatform


https://www.zhuanzhuan.com

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About Zhuanzhuan

Founded in 2015, Zhuanzhuan Group is China's leading circular economy consumer company, operating multiple secondhand e-commerce brands including Zhuanzhuan, Zhaolianji, Caihuoxia, Xiakehui, and Plum. The business covers over 100 categories of secondhand goods including mobile phones, 3C electronics, luxury goods, books, and collectibles. With a nationwide network of over 1,100 chain stores and a door-to-door recycling team of more than 3,000 personnel, the company is dedicated to solving trust issues in non-standardized goods trading through AI quality inspection technology and an innovative C2B2C business model, bringing consumers high-quality, cost-effective second-hand goods.

As the leading enterprise in China's fulfillment-based secondhand trading platforms, Zhuanzhuan recorded over 400 million registered users and 50 million monthly active users last year. With "technology-driven + platform service" as its core engine, Zhuanzhuan has established a dedicated AI division, pioneered the "Tech-driven Official Inspection & Authentication" second-hand quality check service in the country, and independently developed core technology products such as the AI Valuation System and AI Photo Inspection. It has built industry-leading AI authentication capabilities in the luxury goods industry, providing highly accurate authenticity inspection in seconds for globally renowned luxury brand handbags, continuously leading China's second-hand trading market towards standardization and digitalization.