Sina Technology News, March 5th morning report: Today, a netizen posted online that Star晨 Express, which had received strategic investment from Alibaba Group, is facing financial difficulties and the risk of going out of business. Currently, CEO Chen Ping is nowhere to be found, and neither the company's customer service nor the telephone lines of its national subsidiaries can be reached. An insider revealed that Star晨 Express is indeed facing financial difficulties.
Today, a forum netizen disclosed that the express company Star晨 Express is facing bankruptcy. According to the post, "In recent days, the nationwide direct-operated transfer stations in Beijing, Tianjin, Shanghai, Shanxi, Hebei, and other places have suddenly disappeared. Important assets such as vehicles, computers, and other office equipment have vanished overnight." "Thousands of franchisees are unable to recover their hard-earned funds," and Chen Ping has gone missing.
Another forum netizen disclosed a text message from Chen Ping: "The company has been dissolved. The 70 million yuan from Alibaba and my own 50 million yuan are all lost. Adsorption type dehumidifier. Customers' more than 20 million yuan in freight payments have been illegally occupied by the franchisees and cannot be returned. More than 1400 employees have not been paid for over two months. I have lost everything. Doing business involves both losses and profits. Now that the company has incurred losses, I sincerely ask everyone to share the burden. Hereby, I sincerely apologize: I'm sorry."
However, the content of the above text message has not been verified as true or false. Sina Technology also attempted to contact Chen Ping, but the phone was unanswered. Chen Xianbao, chairman of Zhaijisong (Weibo) and Chen Ping's brother, also did not answer the phone.
Sina Technology called Star晨 Express customer service and various subsidiaries across the country. The phones were either unanswered or busy. Some phones, like the Zhengzhou subsidiary, even announced suspension of service. The official website of Star晨 Express, 4006688400.com, is also down.
According to industry insiders, Star晨 Express is indeed facing financial issues. Many franchisees and related industry professionals have tried to contact Chen Ping but have been unsuccessful.
In 2008, Chen Ping, one of the founders of Zhaijisong, left the company and founded Star晨 Express in Beijing in March of the following year. In March 2010, Alibaba Group invested in Star晨 Express.
In October 2011, Beijing Star晨 Express and Shenzhen Xinfeihong Courier Co., Ltd. officially merged, with the trade name "Star晨 Express・Xinfeihong".
The official website of Star晨 Express・Xinfeihong shows that the company's total revenue in 2011 reached 750 million yuan. It currently has over 150 operation and sorting centers, more than 3800 outlets; 28,100 employees; 5,000 motor vehicles, and 19,000 motorcycles; with a daily processing volume of 130,000 tickets. (By Xu Wen and Cui Xi)
Related reports:
- Tianrun Rongtong signs with Star晨 Express, cloud call center assists e-commerce giant
- Zhaijisong merges with Star晨 Express and signs confidentiality agreement: possible formal announcement in March
- Star晨 Express plans to raise 500 million yuan to expand delivery to towns and villages
- Logistics enterprise Star晨 Express receives investment from Alibaba Group
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