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China’s Leading Secondhand Platform “Zhuanzhuan” Lands in Hong Kong as OASES Announces Sixth Batch of Strategic Enterprises
Circular Economy Giant Eyes Global Market, Launches International Headquarters in the City
HONG KONG SAR – Media OutReach Newswire – 21 April 2026 – The Office for Attracting Strategic Enterprises (OASES) held a signing ceremony today to welcome a new batch of strategic enterprises establishing or expanding their operations in Hong Kong. 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.comThe issuer is solely responsible for the content of this announcement.
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.
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FastMed HK Welcomes Greater Bay Area Visitors to Access Doctor Assessment and Prescription Dispensing Services in Hong Kong
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CG Capital, the Leader in Branded Residences in Thailand, Marks Milestone Success for InterContinental Residences Bangkok Asoke Amid Global Economic Uncertainty
Reaffirming Thailand’s status as a world destination for the luxury residences market
Mr. Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital, said that despite a difficult global economic backdrop, marked by slowing markets, geopolitical conflict, and volatility in traditional capital markets, CG Capital sees Thailand’s luxury real estate market moving in the opposite direction. Driving this is a major shift in the behaviour of the world’s wealthiest individuals: a wave of global wealth migration. Data from Henley & Partners shows the number of high-net-worth individuals (HNWIs) relocating globally has surged from 51,000 in 2013 to 142,000 in 2025, a 178% increase over 12 years.
“Global markets are slowing down, but Thailand is holding its position as a world destination. Demand from HNWI buyers, both Thai and international, hasn’t dropped off. If anything, these buyers have become more selective about the assets they choose. That tracks with what we’re seeing from Thailand’s Board of Investment, which has approved Long-Term Resident visas for more than 6,000 wealthy global citizens since 2022. Thailand isn’t just a tourism destination anymore. It’s become a place HNWIs choose for long-term residence and investment,” said Mr. Phoom.
Claiming the Asian Crown: The “Right Brand, Right Partners, Right Product” Strategy
Rising demand for high-end residences has pushed CG Capital’s investment strategy toward branded residences, the fastest-growing segment of the market. Thailand currently holds the largest market share of branded residences in Asia at 23.3% of the region’s USD 26.6 billion total market value, ahead of the Philippines (17.3%) and South Korea (11.6%). CBRE’s Global Branded Residences report ranks Thailand 4th in the world by number of projects, with Bangkok and Phuket sitting among the world’s top 10.
Mr. Phoom Chirathivat added:”The success of InterContinental Residences Bangkok Asoke comes down to understanding global trends. What sets us apart is ‘Right Brand, Right Partners, Right Product,’ paired with Bangkok’s best location, Sukhumvit. We’re not chasing a trend. We’re reading the market and building on the long-term confidence we have in this country.”
From Private Equity DNA to World-Class Product Development
What sets CG Capital apart, as the largest private equity fund manager in Thailand’s real estate and hospitality sector, is the way it applies institutional investment thinking to every part of development. Long-term asset value gets weighed through two lenses at once: capital appreciation and living experience.
CG Capital’s Next Steps and the Official Sales Gallery Launch
Looking ahead, Mr. Phoom said CG Capital will keep pursuing new investment opportunities in the hospitality segment, setting new standards for Thailand’s real estate industry. “Reservations above 60% so far are a clear vote of confidence in CG Capital. Now that the sales gallery is open to the public, we’re confident the design and craftsmanship on display will help the project move quickly toward its sales target, further cementing CG Capital’s position as Thailand’s leading branded residences developer,” he said.
InterContinental Residences Bangkok Asoke welcomes visitors to view show units at the sales gallery from 4–5 July onward. Interested parties may schedule an exclusive private appointment via https://residencesasoke.com/
or Tel: 092-989-2616
Expanding the Reach: Bringing the Project to International Buyers
Alongside the sales gallery opening in Bangkok, CG Capital continues to take InterContinental Residences Bangkok Asoke directly to international buyers. The project will next be featured at “Thailand: A New Chapter Begins,” an exclusive showcase hosted by CBRE Thailand in collaboration with Taiwan Sotheby’s International Realty in Taipei on 3 – 4 July 2026, from 1:30 p.m. – 5:00 p.m. at W Taipei (Strategy Room 1).
Taiwan is a market CG Capital sees as a promising source of long-term residence demand. According to CBRE Thailand and Real Estate Information Center (REIC), Taiwanese buyers now rank as the fourth-largest group of foreign buyers in Thai property market, with transaction value growing an average of 27% a year between 2023 and 2025. Thailand’s appeal to this group comes down to geographic proximity, competitive entry pricing, and a lifestyle suited to long-stay living.
For CG Capital, the event is also a chance to read first-hand how Taiwanese HNWIs are thinking about long-term residence and investment in Thailand. Interested parties in Taiwan may get in touch, please contact Taiwan Sotheby’s International Realty 0800.887.288 (Taiwan) or CBRE Thailand +66(0) 81 742 6624 (Thailand).
Hashtag: #CGCapital #InterContinentalResidencesBangkokAsoke
https://centralgroupcapital.com/
https://www.facebook.com/Centralgroupcapital/
The issuer is solely responsible for the content of this announcement.
About CG Capital
CG Capital Advisory Limited manages private equity investments for blue-chip domestic and international institutional and UHNW investors with an inaugural fund size of THB 10 billion, investing primarily in Thailand’s hospitality, tourism, and real estate sectors through greenfield, brownfield, and turnaround strategies. Its diversified portfolio includes hotels, branded residences, condominiums, amusement and water parks, and mixed-use developments, focusing on Thailand’s leading travel destinations such as Bangkok, Phuket, Koh Samui, and Pattaya.
Led by Mr. Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital, the firm combines deep expertise in investment and hospitality with a strong conviction in Thailand’s tourism potential—particularly within the luxury and lifestyle segments.
Legal disclaimer
Sixteen Residences Limited, being the current owner and developer of InterContinental Residences Bangkok Asoke, is solely responsible for the development, marketing, and sale of the Units. The Units are not owned, developed or sold by InterContinental Hotels Group PLC or its affiliates (collectively “IHG”). There exists no joint venture, partnership, ownership or similar relationship between Sixteen Residences Limited and IHG. IHG is not responsible for the content presented in this press release.
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World’s First Commercial Multimodal LLM for Cultural Tourism Enters Broad Application
Xi’an is one of China’s oldest cities and one of its most popular international tourist destinations. Shaanxi Culture Industry Investment Group (SCG) is working with partners like Huawei, China Telecom Shaanxi, and China West Airport Group (CWAG) to promote cultural tourism using digital technologies including AI and 5G-A.For example, BoGuan is used to support a new AI travel companion agent that had been made available to over 4 million users by March of this year.
In September 2025, SCG and Huawei unveiled the BoGuan Large Model, the world’s first commercial multimodal LLM for cultural tourism. It is also China’s first industry-specific model dedicated to the preservation of cultural heritage. This model is built on intelligent computing infrastructure and a high-quality dataset. The dataset has over 1.2 PB of data, including 31 million images, 4.4 million minutes of video footage, 2.18 million minutes of audio recordings, 510 3D models, and 960 million pieces of structured text.
BoGuan can generate highly-accurate multimodal content, such as museum-quality content about cultural relics. This allows it to support the creation of new digital relic presentations, the digitalization and preservation of traditional craftsmanship, and the creation of digital IP for intangible cultural heritage. Zhang Beiyuan, a dough sculpture artisan, said, “With this model, I can complete a dough sculpture that used to take two or three months in less than a week.” BoGuan is also used to create digital IP like the popular cartoon character Tang Biaobiao, which is designed by integrating local cultural heritage elements with the stone carvings of the Six Steeds of Zhao Mausoleum. The sales of related digital collectibles and creative products have exceeded CNY2 million.
In addition to supporting cultural heritage preservation, BoGuan has been used to develop a range of cultural tourism apps, such as AI photography and AI travel companion agent. Visitors can directly talk with this agent on the GO-SHAANXI app to create and adjust travel itineraries and get real-time performance recommendations at attractions. The Zhiying Camera mini program provides paid services that instantly integrate user photos with AI-generated scenes from history, allowing visitors to “travel back to ancient times.” These new consumption options unlock the business value of quality cultural tourism data. Furthermore, SCG is using BoGuan to integrate short drama production with cultural tourism and improve production efficiency and quality in Xi’an, a renowned short drama hub.
Additionally, China Telecom Shaanxi and Huawei have deployed a 5G-A network based on three component carrier aggregation (3CC) technology at Xi’an’s Grand Tang Mall, a popular tourist attraction. The network delivers peak uplink and downlink rates of 600 Mbps and 3.5 Gbps, respectively, about 10 times faster than common 5G networks. During the 2026 May Day holiday, this network supported concurrent access for 23,000 users, guaranteeing smooth video watching and social media experiences. Furthermore, 5G-A-powered HD live streaming at the Grand Tang Mall has become an important way for the attraction to bring in new visitors. According to public data, the average user dwell time of these live streams has nearly doubled and the average transaction value has increased by 62%.
Edric Chu, General Manager of Huawei’s Shaanxi Rep Office, said, “Artificial intelligence is not simply a stack of technologies. It has become a key enabler that can activate thousands of years of cultural heritage, reshape travel experiences, and inject new momentum into the industry. Moving forward, Huawei will continue working with our partners to enhance cultural heritage preservation with digital and intelligent technologies, and stimulate development within the cultural tourism industry.”
Hashtag: #Huawei
The issuer is solely responsible for the content of this announcement.
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