# Shiqiao Group (狮桥集团)
Shiqiao Group (狮桥集团), formally 狮桥融资租赁（中国）有限公司 (Lionbridge Financing Leasing (China) Co., Ltd.), is a Chinese commercial-vehicle financing, leasing, and logistics-services company founded in April 2012, registered in Tianjin, and since around 2019 effectively controlled by CCB Trust (建信信托).[1](https://pe.pedaily.cn/201807/433462.shtml) • [2](https://fintecdaily.com/shiqiaozhudai615/) The company finances heavy trucks for owner-operators, provides aftermarket and loan-facilitation services, and operates a trucking capacity platform. It remains active as of 2025 reporting, with total assets near 26 billion RMB and 2025 revenue of 2.92 billion RMB.[2](https://fintecdaily.com/shiqiaozhudai615/)
## Key facts
| Fact | Detail |
|---|---|
| Founded | 2 April 2012; legal representative Wan Jun (万钧); registered in Tianjin Economic-Technological Development Area[1](https://pe.pedaily.cn/201807/433462.shtml) |
| Sector | Heavy-truck and commercial-vehicle leasing, in which 2025 reporting describes Shiqiao as holding a leading position[2](https://fintecdaily.com/shiqiaozhudai615/) |
| Largest disclosed round | RMB 1 billion strategic financing, July 2018, co-led by Baidu and Sunshine Ronghui Capital[1](https://pe.pedaily.cn/201807/433462.shtml) |
| Earlier and later backers | Bain Capital (controlling shareholder, September 2014); China Merchants Leasing (2019); CCB Trust (2019, now effective controller)[3](http://m.eeo.com.cn/2018/0720/332897.shtml) • [4](http://www.top-scf.com/zixundongtai/qiyedongtai/973.html) • [5](https://pitchhub.36kr.com/project/2179833588485257) |
| Scale (2025) | Revenue 2.92 billion RMB (+26.6%); net profit 220 million RMB; total assets near 26 billion RMB[2](https://fintecdaily.com/shiqiaozhudai615/) |
| Cumulative claims | 2.24 million drivers served and 197.7 billion RMB disbursed to 31 March 2024 (company-reported)[6](https://www.shiqiao.com/) |
| Litigation | More than 15,400 judicial cases, mostly lease-contract disputes with Shiqiao as plaintiff[2](https://fintecdaily.com/shiqiaozhudai615/) |
## History and founding
Shiqiao was established on 2 April 2012 in Tianjin, with Wan Jun as legal representative.[1](https://pe.pedaily.cn/201807/433462.shtml) In September 2014 it brought in [Bain Capital](https://www.edgepedia.org/bain-capital), one of the large global private equity firms, as controlling shareholder.[3](http://m.eeo.com.cn/2018/0720/332897.shtml) • [4](http://www.top-scf.com/zixundongtai/qiyedongtai/973.html)
In July 2018 the company announced a 1 billion RMB strategic round co-led by Baidu and Sunshine Ronghui Capital (阳光融汇资本), with Hanwen Investment as exclusive financial advisor, and simultaneously joined Baidu's Apollo autonomous-driving program.[1](https://pe.pedaily.cn/201807/433462.shtml) • [3](http://m.eeo.com.cn/2018/0720/332897.shtml) [Ownership](https://www.edgepedia.org/ownership) then shifted toward state-linked capital: China Merchants Leasing, a directly affiliated enterprise of state-owned China Merchants Group, made an equity investment in January 2019,[4](http://www.top-scf.com/zixundongtai/qiyedongtai/973.html) and 36Kr's project record lists a CCB Trust strategic round in August 2019.[5](https://pitchhub.36kr.com/project/2179833588485257) Sources disagree on the China Merchants date: the trade report says January 2019, and 36Kr's record says February 2019.[4](http://www.top-scf.com/zixundongtai/qiyedongtai/973.html) • [5](https://pitchhub.36kr.com/project/2179833588485257)
## Business and services
Per 2025 reporting, Shiqiao is a wholly foreign-owned financing-leasing enterprise holding a leading position in heavy-truck and commercial-vehicle leasing, effectively controlled by CCB Trust through its funds.[2](https://fintecdaily.com/shiqiaozhudai615/) Its loan-facilitation (助贷) business has grown to a large scale: at the end of 2025 the loan-facilitation balance reached 17.54 billion RMB.[2](https://fintecdaily.com/shiqiaozhudai615/)
## Funding and financing
No valuation has been disclosed for any round.[5](https://pitchhub.36kr.com/project/2179833588485257) Disclosed equity events:
| Date | Round | Amount | Investors |
|---|---|---|---|
| September 2014 | Strategic | Undisclosed | Bain Capital (controlling shareholder)[3](http://m.eeo.com.cn/2018/0720/332897.shtml) |
| July 2018 | Strategic | RMB 1 billion | Baidu and Sunshine Ronghui Capital, co-lead[1](https://pe.pedaily.cn/201807/433462.shtml) |
| January or February 2019 | Strategic (sources differ) | Undisclosed | China Merchants Leasing / 招商局创投[4](http://www.top-scf.com/zixundongtai/qiyedongtai/973.html) • [5](https://pitchhub.36kr.com/project/2179833588485257) |
| August 2019 | Strategic | Undisclosed | CCB Trust[5](https://pitchhub.36kr.com/project/2179833588485257) |
Equity is only part of the funding picture. By 2020, CITIC Securities had issued 12 asset-backed securities and ABN products for Shiqiao raising 13.938 billion RMB cumulatively; the Shengguan 3 ABS, issued on 18 August 2020 with a 1.062 billion RMB target, drew 3.897 billion RMB of subscriptions.[7](https://www.shiqiao.com/article/ad2d099363984bbfa8b78a21ad18e01d) Shiqiao's credit rating was raised from AA to AA+ on 19 August 2019.[7](https://www.shiqiao.com/article/ad2d099363984bbfa8b78a21ad18e01d)
## Traction and scale
As of July 2018, Shiqiao reported having aggregated over 100,000 commercial-vehicle drivers and owner-operators, more than 6,000 dealers, and over 14,000 transport companies; Yunli managed over 4,600 owned vehicles and over 14,700 outsourced vehicles.[3](http://m.eeo.com.cn/2018/0720/332897.shtml) Yunli's 2017 revenue was roughly 1.7 billion RMB, up 205% year on year, with 3 billion RMB expected for 2018.[3](http://m.eeo.com.cn/2018/0720/332897.shtml)
The company's own cumulative claims (unaudited in this record) are far larger: 2.24 million drivers served, 3.77 million vehicles served, and 197.7 billion RMB in cumulative financing disbursed to 31 March 2024.[6](https://www.shiqiao.com/) For 2025, Fintec Daily reports revenue of 2.92 billion RMB (up about 26.6%) and net profit doubling from 110 million to 220 million RMB.[2](https://fintecdaily.com/shiqiaozhudai615/)
## Controversies and disputes
Per Qichacha data cited by Fintec Daily, Shiqiao has been involved in more than 15,400 judicial cases with over ten thousand court judgments, the great majority financing-lease contract disputes in which Shiqiao sues truck drivers or logistics operators as plaintiff.[2](https://fintecdaily.com/shiqiaozhudai615/) The Black Cat complaint platform holds over 770 complaints against the company, concentrated on forced repossession of trucks, aggressive collection practices, and alleged "dual contract" arrangements.[2](https://fintecdaily.com/shiqiaozhudai615/)
## Recent developments
The 2018 story paired Baidu investment with a planned autonomous-trucking venture; no source in the record says what became of that plan, and later reporting describes no Baidu role.[3](http://m.eeo.com.cn/2018/0720/332897.shtml) The company that emerges from 2025 reporting is a CCB Trust-controlled leasing and loan-facilitation business with growing revenue, a doubled net profit, and extensive litigation.[2](https://fintecdaily.com/shiqiaozhudai615/) Comparisons with Full Truck Alliance, Uxin, or state-backed leasing arms, the effects of China's post-2018 auto-financing regulatory tightening, and any events after mid-2025 are not settled by the sources retrieved.
## References
1. 投资界快讯丨狮桥获百度、阳光融汇资本10亿元战略融资 — https://pe.pedaily.cn/201807/433462.shtml
2. 狮桥助贷狂奔：帮银行放款175亿，自己扛下137亿担保 (Fintec Daily) — https://fintecdaily.com/shiqiaozhudai615/
3. 经济观察网: 万亿级市场吸引百度"迟到"的投资 — http://m.eeo.com.cn/2018/0720/332897.shtml
4. 狮桥迎央企股东招商局股权投资 — http://www.top-scf.com/zixundongtai/qiyedongtai/973.html
5. 狮桥集团 | 项目信息 (36Kr) — https://pitchhub.36kr.com/project/2179833588485257
6. 狮桥集团 official homepage — https://www.shiqiao.com/
7. 商用车资产证券化故事的新讲法 (Shiqiao) — https://www.shiqiao.com/article/ad2d099363984bbfa8b78a21ad18e01d
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*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Business and work overview › Companies and corporations › Venture-backed startups and growth companies › Deep-tech, hardware, industrial, climate, and mobility startups › Logistics and supply chain tech*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license