Sina Technology News, March 5th morning message, today some netizens posted online that Star晨 Express, which had received a strategic investment from Alibaba Group, is facing financial difficulties and the risk of going out of business. Currently, CEO Chen Ping has disappeared, and neither the company's customer service nor the telephone lines of national subsidiaries can be reached. Insiders revealed that Star晨 Express is indeed facing financial difficulties.
Today, forum netizens disclosed that the express delivery company Star晨 Express is facing bankruptcy. According to the post, "Recently, in places such as Beijing, Tianjin, Shanghai, Shanxi, Hebei, etc., all direct-operated transfer stations have suddenly disappeared. Important assets like vehicles, computers, and other office equipment vanished overnight," and "Thousands of franchisees cannot recover their hard-earned money," while Chen Ping has gone missing.
A forum netizen further disclosed a text message allegedly from Chen Ping: "The company has been dissolved, Alibaba's 70 million yuan and my 50 million yuan are all lost. Now, franchisees have illegally occupied over 20 million yuan of customer funds, and they cannot be returned. More than 1400 employees haven't been paid for more than two months, I've lost everything. Doing business means there are losses and gains; now the company has suffered losses, humidifier, I sincerely ask everyone to share the burden together. Hereby, I sincerely apologize: I'm sorry."
However, the above text message content has not been verified as true or false. Sina Technology also attempted to contact Chen Ping, but his phone was always unanswered. Chen Xianbao, chairman of Zhaijisong (Weibo) and Chen Ping's brother (Weibo), also did not answer the phone.
Sina Technology called Star晨 Express customer service and various subsidiaries across the country, but the phones were either unanswered or busy. Some phone numbers, like those of Zhengzhou subsidiary, even announced suspension of service. The official website of Star晨 Express, 4006688400.com, is also down.
According to insiders, Star晨 Express is indeed facing financial problems, and many franchisees and related industry insiders have tried to contact Chen Ping but have failed.
In 2008, Chen Ping, one of the founders of Zhaijisong, left the company and founded Star晨 Express in Beijing the following March. 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 was 750 million yuan. It currently has more than 150 operation and distribution centers, over 3800 outlets, 28,100 employees, 5,000 motor vehicles, 19,000 motorcycles, and handles 130,000 tickets daily.
(Xu Wen, Cui Xi)
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