Capital, Earnings & M&A
Hunan's Hidden Tycoon: Running 20,000 Small Stores, Serving the Poor, Earning Billions Annually
Yue Lihua, a Hunan businessman, built a chain of convenience stores targeting low-income areas, which evolved into Xingsheng Youxuan, a community group-buying platform that reached a valuation of $4 billion. Despite being backed by Tencent, he became a student at Alibaba's Hupan University, highlighting the intense competition in China's community e-commerce sector.
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