Zhongneng United Co Ltd is a Chinese engineering equipment supplier. Its core business centers on supplying engineering equipment. The company has completed Series C2 and C3 rounds of financing. Those rounds raised a combined total of over 3 billion yuan (about $461 million). The fundraising was announced in a company statement on Tuesday. Zhongneng Lianhe is a B2B engineering machinery rental firm that entered the market by focusing on high‑altitude/aerial platform equipment. The company applies mobile internet and IoT hardware (GPS, cameras) alongside industry software to build a data‑driven, digitalized rental operations and full lifecycle management system for people, assets and finance. It reports the fastest fleet growth in the industry and has served over 10,000 aerial equipment rental customers. Financially, the company has completed a Pre‑A earlier this year and, after the recent A round, has raised ¥100 million in cumulative equity financing. In addition to equity, Zhongneng secured a ¥250 million credit line from Huayun Jinzu (already disbursed) and has obtained ¥400 million in bank credit lines from Jiangsu Bank, Zijin Bank and other financial institutions since August 2018. Over the next five years it plans to expand to full‑category engineering equipment, push an open‑platform strategy, diversify revenue streams and begin globalization to become a leading global B2B engineering equipment service platform.

Total raised

$469M

Funding rounds

2

Latest round

Series C

Latest activity

Mar 2021