Zhonglu

What Zhonglu does

Zhonglu Co., Ltd. (中路股份有限公司) is a Shanghai Stock Exchange-listed diversified enterprise (A-share: 600818, B-share: 900915) headquartered in Shanghai's Baoshan District. The company originated from the historic Shanghai Bicycle Factory and was restructured under Shanghai Zhonglu (Group) Co., Ltd. into a comprehensive enterprise spanning traditional industrial manufacturing, equity investment, and new energy investment.

The company's core businesses operate through three wholly-owned subsidiaries: Shanghai Yongjiu (上海永久) manufactures the 80+ year-old 'Yongjiu' (永久/Forever) bicycle brand — a designated 'China Time-honored Brand' with a 2024 brand value of 43.25 billion CNY, a brand strength score of 848, and annual sales of nearly 5 million units across urban bikes, road bikes, children's bikes, and electric bicycles; Zhonglu Industrial (中路实业) is among China's earliest bowling equipment manufacturers; and Guangdong High-Altitude Wind Energy (广东高空风能) is described as the only Chinese company developing high-altitude wind power generation technology capable of harvesting wind energy at altitudes between 300 and 10,000 meters.

Zhonglu monetizes through hardware sales (bicycles and bowling equipment), electricity generation from high-altitude wind projects (pilot-scale via the Anhui Jixi station, built in equity partnership with a subsidiary of China Energy Engineering Corporation since 2021), capital appreciation from equity investments in listed and pre-listed companies, and managed operations of industrial parks in Shanghai's Baoshan and Pudong districts that host 100+ tenants across sales, creative offices, design exhibitions, e-commerce livestreaming, and sports experience. The company serves mass-market individual consumers in the bicycle segment and state-owned/private energy counterparties in the wind energy segment, with no disclosed export or international footprint beyond domestic China.

Name

Zhonglu

Legal name

中路股份有限公司

Website

https://600818.cn

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

Zhonglu is a Shanghai-listed diversified enterprise that manufactures the heritage 'Yongjiu' (Forever) bicycle brand alongside bowling equipment, operates Shanghai industrial parks, invests in listed companies, and pilots proprietary high-altitude wind power generation technology.

Ownership category

akta.pro rank

Product category

Bicycle Manufacturing

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

E-bikes & E-cargo Bikes Manufacturing (IMACAOAA)

akta.pro secondary industries

Bicycle Retail (New Bikes) (CRAMAHAA), E-Bike Retail (CRAMAHAE)

Keywords

• Bicycle manufacturing
• Electric bicycles
• Bowling equipment
• High-altitude wind power
• Renewable energy generation

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Bicycle Manufacturing and Sales: Traditional manufacturing revenue from production and sale of '永久' (Yongjiu/Permanent) brand bicycles including urban bikes, road bikes, children's bikes, and electric bicycles. Annual sales volume of nearly 5 million units with nationwide distribution.
2. Equity Investment: Investment in listed and pre-listed companies through strategic equity investments and exits, generating returns through capital appreciation and investment exits.
3. High-Altitude Wind Power Energy: New energy business utilizing proprietary high-altitude wind power generation technology. Revenue from electricity generation and sales, with projects like the Anhui Jixi high-altitude wind power station.
4. Industrial Park Operations: Management and operation of comprehensive industrial parks in Shanghai Baoshan and Pudong New District, including creative industry zones with sales headquarters, creative offices, design exhibitions, e-commerce livestreaming, and sports experience tenants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Zhonglu manufactures and sells bicycles under the historic 'Yongjiu/Forever' (永久) brand—including urban, road, children's, and electric bicycles—and bowling equipment through Zhonglu Industrial. The company also develops proprietary high-altitude wind power generation technology (300–10,000 meters) via subsidiary Guangdong High Altitude Wind Energy, operates equity investments in listed and pre-listed companies, and manages industrial parks in Shanghai.

Product overview

Zhonglu is a comprehensive enterprise listed on the Shanghai Stock Exchange (A-share code: 600818, B-share code: 900915) with three main business segments: traditional industrial manufacturing, equity investment, and new energy investment. The traditional manufacturing division includes Shanghai Forever bicycles (a 80+ year old time-honored brand with nearly 5 million annual sales across urban, road, children's, and electric bike categories) and Zhonglu Industrial bowling equipment. The new energy division focuses on proprietary high-altitude wind power generation technology (300-10,000 meters altitude) developed by subsidiary Guangdong High-Altitude Wind Energy. The company also operates multiple industrial parks in Shanghai's Baoshan and Pudong districts focusing on cultural and creative industries.

Differentiator

Problem solved

Functional benefit

Brands

• 永久牌: Bicycle brand with over 80 years of history, '中华老字号' (China Time-honored Brand), with brand value of 43.25 billion RMB. Products include urban bikes, road bikes, children's bikes, and electric bicycles. Annual sales volume of nearly 5 million units.
• 中路实业
• 上海永久
• 广东高空风能

Products and services

• Shanghai Yongjiu/Forever (上海永久) Bicycles A bicycle brand with over 80 years of history, classified as a 'China Time-honored Brand' (中华老字号), with a brand value of 43.25 billion yuan and annual sales of nearly 5 million units. Product range includes urban bikes, road bikes, children's bikes, and electric bicycles for general Chinese consumers seeking personal and family transportation.
• Zhonglu Industrial (中路实业) Bowling Equipment Bowling equipment manufacturing—one of the earliest bowling equipment manufacturers in China, operated through subsidiary Zhonglu Industrial (中路实业).
• Guangdong High-Altitude Wind Energy (广东高空风能) Power Generation Proprietary high-altitude wind power generation technology operating at 300–10,000 meters altitude, developed by subsidiary Guangdong High-Altitude Wind Energy (广东高空风能). The only company in China dedicated to high-altitude wind power generation R&D and operations, offering full regional applicability, stable power generation, and low cost advantages for renewable energy supply.

Quantifiable outcome

• Annual bicycle sales volume: nearly 5 million units
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• 中国能源建设股份有限公司 (China Energy Engineering Corporation)coreStrategic or Co-development Partner · 1 May 2021In May 2021, Zhonglu signed a strategic cooperation agreement with China Energy Engineering Corporation. By the end of 2021, they formally reached equity cooperation with a subsidiary of China Energy Engineering Corporation to jointly construct the Anhui Jixi High-Altitude Wind Power Station. This partnership is central to Zhonglu's new energy business development strategy.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Specialized Bicycle Components: Premium global bicycle and e-bike brand; relevant as a comparable premium-and-brand-led competitor Zhonglu could emulate through repositioning the Yongjiu brand upmarket.

Others

• China Energy Engineering Corporation: State-owned energy infrastructure giant and Zhonglu's strategic partner in the Anhui Jixi high-altitude wind project; relevant as the counterparty enabling wind-energy value capture rather than a direct competitor.
• Goldwind (金风科技): China's largest wind turbine manufacturer and operator; relevant as a comparable wind energy operator for benchmarking Zhonglu's high-altitude wind business, though operating in conventional rather than high-altitude wind.

Broad incumbents

• Giant Manufacturing: Taiwan-based global bicycle manufacturer and the world's largest bike brand; comparable in manufacturing scale and category breadth, and an aggressive entrant into the Chinese bicycle market.
• Trek Bicycle Corporation: Large global premium bicycle manufacturer with broad product portfolio including e-bikes; comparable as an established cycling incumbent pursuing brand-led premium positioning.
• Merida Industry Co. Taiwanese global bicycle manufacturer with strong Chinese market presence; comparable as a vertically integrated bicycle producer pursuing similar product breadth including e-bikes.

Direct peers

• Niu Technologies: Chinese smart e-scooter and e-bike brand with nationwide online/offline retail; competes head-to-head with Yongjiu-branded electric bicycles in the same premium consumer segments.
• Phoenix Bicycle (凤凰自行车): Another historic Chinese bicycle brand with comparable heritage positioning; directly competes with Yongjiu for legacy consumer mindshare in the domestic conventional bicycle segment.
• AIMA Technology: Major Chinese e-bike manufacturer with national retail network and competing premium positioning; directly comparable to Zhonglu's electric bicycle portfolio under the Yongjiu brand.
• Yadea Group: One of China's largest electric two-wheeler manufacturers with national distribution; directly comparable to Zhonglu's e-bicycle business and an aggressive competitor for Yongjiu's premium positioning.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/zhonglu-co-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zhonglu