Xibei Series A financing: New Rongji boss, former Ant Group CEO Hu Xiaoming and others invest

Wallstreetcn
2026.01.21 09:59
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Inner Mongolia Xibei Catering Group Co., Ltd. has completed its Series A financing, with investors including Taizhou Xinrongtai Investment Co., Ltd., owned by Daniel Zhang, and Hohhot Collective Co-Creation Enterprise Management Center, among others. The registered capital has increased to 101.680175 million yuan, and the shareholding ratio of founder Jia Guolong and some shareholders has decreased to approximately 26.16%. Hu Xiaoming, who participated in the financing, previously served as CEO of Ant Group. Investment carries risks and should be approached with caution

Inner Mongolia Xibei Catering Group Co., Ltd. has received Series A financing. The investors include Taizhou Xinrongtai Investment Co., Ltd., Hohhot Collective Co-Creation Enterprise Management Center (Limited Partnership), Chengdu Xunda Optoelectronics Co., Ltd., and Hangzhou Zhouxuan Equity Investment Management Partnership (Limited Partnership), among others.

According to the synchronized business information, Xibei Catering's registered capital has increased from 89.902896 million yuan to 101.680175 million yuan, an increase of approximately 13.1%; the list of shareholders has added the aforementioned investors, and the shareholding ratio of founder Jia Guolong and some existing shareholders has correspondingly decreased to about 26.16%.

Public information shows that Taizhou Xinrongtai Investment Co., Ltd. was established in 2009, with Zhang Yong, the founder of the high-end Chinese restaurant brand Xinrongji, as its legal representative. Xinrongji was founded in October 1995, establishing its first "Xinrongji Restaurant" in the basement of Triangle Road, Linhai City, Taizhou, Zhejiang Province.

In addition, Hangzhou Zhouxuan Equity Investment Management Partnership (Limited Partnership), which participated in this round of financing, has its controlling shareholder Hu Xiaoming, who previously served as CEO of Ant Group and President of Alibaba Cloud. Public information shows that Hu Xiaoming also serves as the chairman of Yimi Ba Ocean Technology (Zhejiang) Co., Ltd. (referred to as "Yimi Ba"). Jack Ma indirectly holds about 10% equity in Yimi Ba through Hangzhou Dajingtou 22 Cultural and Art Co., Ltd.

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