卓尔发展集团有限公司

What 卓尔发展集团有限公司 does

卓尔智联集团有限公司 (Zall Smart Commerce Group Ltd., HKEX: 2098.HK) is a Hong Kong-listed digital trade platform operator headquartered in Wuhan, Hubei, with primary operations in mainland China. Founded in August 2003 by 阎志 and listed on the Hong Kong Stock Exchange in July 2011, the group was previously known as 卓尔发展集团有限公司 and reorganized around its current digital-trade identity through acquisitions and JV formation beginning in 2017.

The group operates an integrated stack of six specialized B2B vertical platforms — 中农网 (agriculture/sugar/feed/silk/coffee/spices/rubber), 卓钢链 (steel/black bulk commodities), 化塑汇 (chemicals/plastics), 海上鲜 (seafood), 华纺链 (textiles), and the Singapore-based 世界商品智能交易中心 (CIC, global commodities) — alongside the physical 汉口北国际贸易城 wholesale marketplace (the largest in China by building scale) and shared supply-chain infrastructure including 卓尔云仓/卓仓汇 warehousing, 智蜂物流 fourth-party logistics (~2,180 nodes), 小伙智运 transport, and the Marubeni-JV 卓美金服 cross-border supply-chain finance platform. Core technology is built on big data, AI, blockchain, and cloud computing; proprietary AI products include the AI糖 sugar-industry LLM (launched October 2023), AI小易 intelligent assistant with DeepSeek-R1 integration (January 2025), TradeData.Pro international trade data search, and the 惠猪宝 AIoT pig-farming platform.

The group serves more than 300,000 enterprise customers and generates revenue primarily through B2B platform transaction commissions, supply-chain service fees (warehousing, logistics, financing), and digital technology/SaaS subscriptions. Disclosed FY2023 operating revenue is reported at RMB 155,029 million on the Chinese-language site (with the English-language version showing RMB 162,359 million and a separate financial-results line stating RMB 1,252.9 billion, an unresolved discrepancy). The group has appeared on the Fortune China 500 for nine consecutive years (FY2024 rank #160–#182) and holds 国家重点龙头企业 status for 中农网 and 国家4A级物流企业 status for 智蜂物流.

Name

卓尔发展集团有限公司

Legal name

卓尔智联集团有限公司

Website

https://zallcn.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

卓尔智联集团有限公司 (Zall Smart Commerce Group, HKEX: 2098.HK) operates six vertical B2B digital trade platforms plus the 汉口北 physical wholesale marketplace, serving 300,000+ enterprise customers in agriculture, steel, chemicals, seafood, textiles, and global commodities with integrated supply chain, logistics, and AI services.

Ownership category

akta.pro rank

Product category

B2B Industrial Internet Trading Platforms

akta.pro primary industry

B2B Marketplaces & Wholesale Platforms (BPAMAGAD)

akta.pro secondary industries

Cross-border B2B/Wholesale Trade Marketplaces (CRAFAJAC), Trade Finance & Supply Chain Finance Platforms (FSAGAJAL)

Keywords

• B2B trading platforms
• Supply chain services
• Commodity logistics
• Industrial internet
• Digital trade

Headquarters

HQ city

武汉, 湖北

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. B2B交易服务 (B2B Trading Services): The group operates multiple B2B intelligent trading platforms including 中农网 (agricultural products), 卓钢链 (steel/black metals), 化塑汇 (chemicals/plastics), 海上鲜 (seafood), 华纺链 (textiles), and CIC (global commodities). Platforms generate revenue through transaction fees, commission on trades, and related B2B service fees. Combined GMV exceeds RMB 100 billion annually.
2. 供应链服务 (Supply Chain Services): Service platforms including 卓尔云仓, 卓仓汇, 小伙智运, 智蜂物流 provide warehousing, logistics, finance, and supply chain management services. Revenue is generated through service fees, logistics charges, warehousing fees, and supply chain finance interest/income.
3. 数字技术云服务 (Digital Technology Cloud Services): Technology services including SaaS systems, digital cloud factories, AI tools, and data services provided to enterprise customers, generating subscription and service fees. Platforms such as 卓钢链 SaaS serve 2000+ enterprise clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Zall Smart Commerce Group operates a multi-platform digital trade ecosystem comprising B2B trading platforms, integrated supply chain services, and digital technology cloud services. The group runs six+ vertical B2B marketplaces (Sinoagri for agriculture, Zall Steel for black metals, Huasuhui for chemicals/plastics, Haishangxian for seafood, Huafl for textiles, and CIC for global commodities) plus supply chain platforms (cloud warehousing, Zhifeng Logistics, ZMA Smart Capital cross-border finance), serving 300,000+ enterprise customers with combined annual GMV exceeding RMB 100 billion.

Product overview

卓尔智联集团有限公司 is a digital trade platform operator (stock code: 2098.HK) with a multi-platform architecture comprising three core business segments: B2B Trading Services, Supply Chain Services, and Digital Technology Cloud Services. The company operates multiple specialized vertical platforms including: 中农网 (agricultural B2B), 卓钢链 (steel/trade), 化塑汇 (chemicals/plastics), 海上鲜 (seafood), 华纺链 (textiles), CIC (global commodities), 卓尔云仓/卓仓汇 (cloud warehousing), 智蜂物流 (logistics tech), 卓贸通 (foreign trade), and 卓红金服 (supply chain finance). AI products include AI糖 (sugar industry LLM), AI小易 (intelligent assistant), 惠猪宝 (smart pig farming), and TradeData.Pro (trade data platform). The ecosystem serves 300,000+ enterprise customers with combined annual GMV exceeding 100 billion yuan, positioning the company as a Fortune China 500 enterprise (ranked 182nd in 2024) and a leading global digital trade platform.

Differentiator

Problem solved

Functional benefit

Brands

• 中农网: 农业B2B产业互联网平台，涉及甜味、饲料、丝纺、咖啡、香辛料、橡胶等多个垂直品类
• 卓钢链
• 化塑汇
• 海上鲜
• 华纺链
• 世界商品智能交易中心 (CIC)
• 卓贸通

Products and services

• 中农网 (Sinoagri) — Agricultural B2B Industrial Internet Platform Leading agricultural B2B industrial internet platform covering sugar, feed, silk, coffee, spices, and rubber. Serves 170,000+ enterprise customers across 31 provinces and 184 cities. Platform GMV exceeded RMB 100 billion. Handles nearly 30% of China's white sugar trade volume. Supports 47,848+ sugarcane and silkworm farmers with cumulative income increases of over RMB 160.6 million.
• 卓钢链 (Zall Steel) — Black Bulk Commodities Industrial Internet Platform Black bulk commodities industrial internet platform focused on steel, coal, and mineral products. Provides smart trading, warehousing logistics, and fintech services. Serves 2,000+ large enterprise clients with strategic cooperation partnerships with central state-owned enterprises (中石油 CNPC, 中铁 China Railway). 2023 revenue of RMB 24.5 billion.
• 化塑汇 (Huasuhui) — Chemical and Plastics Digital Supply Chain Platform Chemical and plastics digital supply chain platform providing over 2,000 types of plastic and chemical raw material supply services. Built the industry's first recycled plastic cloud factory. Customer base exceeds 75,000 enterprises across 200+ cities. Operates as a Shanghai 'Industrial Internet Chain Leader' cultivation enterprise.
• 海上鲜 (Haishangxian) — Marine Products Digital Trading Platform Marine economy platform using 'Beidou + Internet + Fishery' technology system. HSX APP enables digital and transparent seafood trading connecting fishermen with buyers across geographical restrictions. Awarded National Specialized, Refined, Unique and Innovation 'Little Giant' enterprise status (6th batch).
• 华纺链 (Huafl) — Textile and Apparel Digital Service Platform Textile and apparel digital service platform providing digital supply chain services for the textile industry.
• CIC (世界商品智能交易中心 / Commodities Intelligence Center) — Global Commodity Trading Center World Commodities Intelligence Center established in Singapore, providing global commodity trading matching, supply chain financial services, trade data search (TradeData.Pro), logistics, and customs clearance services. TradeData.Pro platform covers 60+ countries and serves hundreds of Fortune 500 companies.
• 卓贸通 (Zall Foreign Trade) — International Trade Services Platform International trade services platform providing foreign trade comprehensive services.
• 卓尔云仓 / 卓仓汇 (Zall Cloud Warehouse) — Warehousing and Supply Chain Platform Cloud warehouse and warehousing aggregation platforms providing diversified supply chain services including storage, logistics, finance, and supply chain management.
• 智蜂物流 (Zhifeng Logistics) — Fourth-Party Logistics Technology Platform Fourth-party logistics technology service platform under Sinoagri, independently developing TMS (Transportation Management System) and WMS (Warehouse Management Systems). Services include transportation, warehousing, operations, and settlement. Integrates ~2,180 warehouse/logistics nodes serving 400+ enterprise clients. Certified as national 4A-level logistics enterprise.
• 汉口北国际贸易城 (Hankoubei International Trade City) — Physical Wholesale Marketplace China's largest modern commercial logistics platform by building scale and second by trading volume. Has created new consumption scenarios including 'Flower Town', 'Fisherman's Pier', and 'Spice Exchange'. Total online and offline trading volume reached 185.9 billion yuan in 2023. Serves as the physical distribution hub for the group's B2B trading ecosystem.
• AI糖 (AI Sugar) — Sugar Industry Large Language Model China's first large language model in the sugar industry, using Transformer architecture with self-attention mechanism. Customized for sugar industry terminology and trading processes. Version 1.0 covers 17 application scenarios. Powers Sinoagri's intelligent trading and analytics.
• AI小易 (AI Xiaoyi) — Intelligent Work Assistant Intelligent work assistant supporting multi-style writing, data analysis, technical assistance, and project management. Enhanced with DeepSeek-R1 integration (full version) in 2025 for improved data search and deep analysis capabilities.
• 惠猪宝 (Hui Zhu Bao) — Smart Pig Farming Supply Chain Platform One-stop pig breeding supply chain service platform using AIoT technology for intelligent ear tag record-keeping, health monitoring, ovulation prediction, and precise feed delivery. Connected to nearly 500 large-scale pig breeding farms across 22+ provinces. Saves RMB 10-20 per pig in feed costs and adds RMB 20-30 profit per pig.
• TradeData.Pro (卓贸查) — International Trade Data Search Platform International trade data search platform covering 60+ countries globally, providing commodity transaction matching and trade data services for hundreds of Fortune 500 companies. Covers multiple Asian markets, Germany, Kenya, USA, Brazil, and other overseas regions.
• 卓红金服 (ZMA Smart Capital) — Cross-Border Trade Supply Chain Finance Platform Cross-border trade supply chain finance joint venture between Zall and Japan's Marubeni. Full commercial operations launched in 2025 following capital increase, providing intelligent fintech solutions for international supply chain enterprises in South America, Africa, Australia, and Southeast Asia.

Quantifiable outcome

• Annual operating revenue exceeded RMB 125.29 billion (2023), ranking among Fortune China 500 for 7 consecutive years
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• 广州国际贸易集团coreStrategic or Co-development Partner · 11 June 2025Guangzhou International Trade Group (established by Guangzhou Light Industry Trading Group) signed a cooperation order exceeding RMB 100 million with Zhongnongwang. The partnership focuses on white sugar, spices, and coffee agricultural products, covering procurement, sales, and full supply chain services. Guangzhou International Trade Group leads on procurement and supply chain execution, while Zhongnongwang provides e-commerce platform resources for sales promotion.
• 丸红株式会社 (Marubeni Corporation)flagshipStrategic or Co-development Partner · 21 March 2025Marubeni Corporation (世界500强排名第298位), a leading Japanese general trading company, signed a cooperation agreement with Zall Smart Commerce in March 2025 to deepen cross-border trade financial services. Since 2018, the companies have collaborated across agricultural supply chains and international supply chain finance. Their joint venture 卓红金服 (ZMA Smart Capital) focuses on cross-border trade supply chain finance innovation. The 2025 agreement triggers capital increase and full commercial launch of 卓红金服, extending services to South America, Africa, Australia, and Southeast Asia.
• 西本新干线coreStrategic or Co-development Partner西本新干线 partnered with Zall Smart Commerce to establish 卓钢链 (Shanghai Zhuagang E-commerce Co., Ltd.) in March 2018, creating a black bulk commodities industry internet platform. 卓钢链 has grown to serve over 2,000 enterprise clients with revenues of RMB 24.5 billion in 2023.
• 广州数据交易所coreStrategic or Co-development PartnerZhongnongwang partnered with the Guangzhou Data Exchange to create the 'Agricultural Industry Data Space,' building an agricultural industry data element circulation ecosystem covering sweetening, feed, coffee, silk textile and other vertical agricultural sectors. The product has served enterprises across 20+ provinces.
• 中嘉博创信息技术股份有限公司minorOthersWu Ying, independent non-executive director of Zall Smart Commerce, serves as chairman of ZJBC Information Technology Co., Ltd. (深圳证券交易所上市公司), representing a board-level connection.
• Chindata Group Holdings LimitedminorOthersDr. Yu Gang, executive director of Zall Smart Commerce, served as independent director of Chindata Group Holdings Limited (纳斯达克上市公司) from September 2020 to December 2023.
• 中国物流与采购联合会 (CFLP)coreOthersCFLP conducts annual A-level logistics enterprise assessments. 智蜂物流 (Zifeng Logistics) received National 4A-level logistics enterprise status through this assessment process. CFLP also conducted the 2024中国产业互联网行业奖项 evaluation.
• 京东健康股份有限公司 (JD Health)minorOthersWu Ying, independent non-executive director of Zall Smart Commerce, serves as independent non-executive director of JD Health International Inc. (香港联交所上市公司, 股份代号: 6618) since April 2022.
• 中国商业联合会 (CCPIT)coreOthersChina General Chamber of Commerce signed a strategic cooperation agreement with Huangpi District Government at the 2024 汉交会 to create new consumer spaces and support the flagship event.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Global Sources (环球资源): Global Sources operates a Hong Kong-headquartered B2B trade platform connecting international buyers with Asian manufacturers. Its international trade data and matching services overlap with Zall's CIC and TradeData.Pro, though it focuses on finished consumer goods rather than raw commodities.

Broad incumbents

• Yiwu Industrial & Commercial City (义乌国际商贸城 / Yiwugo): Yiwugo is the online arm of the world's largest physical wholesale market for small commodities, providing B2B trading across consumer goods, accessories, and textiles. It competes with Zall's Huafanglian (textiles) and overall wholesale marketplace strategy anchored by Hankoubei.
• JD.com (JD Industrial / 京东工业): JD's industrial supply chain arm targets MRO and industrial B2B procurement across chemicals, manufacturing inputs, and supply chain services, overlapping directly with Zall Steel and Huasuhui. JD combines logistics infrastructure (JD Logistics) with platform technology comparable to Zall's supply chain services stack.
• Alibaba Group (1688.com): Alibaba's 1688.com is China's largest generalist B2B wholesale marketplace, serving millions of enterprise buyers and sellers across all of Zall's verticals (agriculture, steel, chemicals, textiles). It competes with Zall's vertical platforms on breadth, scale, and ecosystem integration while Zall competes on domain depth.

Direct peers

• Shanghai Ganglian E-Commerce (上海钢联): Shanghai Ganglian (300226.SZ) operates Mysteel.com, China's leading steel information services and B2B e-commerce platform. It is the most direct competitor to Zall Steel (卓钢链) in steel trading, pricing data, and supply chain services, with comparable enterprise customer base and SaaS offerings.
• Focus Technology (焦点科技 / Made-in-China.com): Focus Technology (002315.SZ) operates Made-in-China.com and GlobalSources for cross-border B2B trade, directly comparable to Zall's CIC and TradeData.Pro international trade platform serving cross-border commodity and goods trading enterprises.
• Beijing Guolian (国联股份): Guolian股份 (603613.SH) operates a multi-vertical industrial internet B2B platform model covering chemicals, coatings, glass, textiles, and other bulk commodities. It mirrors Zall's strategy of building vertical B2B marketplaces with supply chain services and is a close comparable in business model and customer profile.
• HC360 (慧聪网): HC360 is one of China's legacy B2B marketplaces serving industrial products, machinery, and consumer goods. It competes with Zall's vertical platforms for SME enterprise customers and offers comparable transaction, supply chain, and information services.

Others

• Marubeni Corporation (丸红株式会社): Marubeni is Zall's joint venture partner in ZMA Smart Capital and a Fortune Global 500 Japanese trading company (sogo shosha). While not a direct competitor, Marubeni's cross-border commodity trading and trade finance capabilities are deeply integrated with Zall's international expansion strategy and represent a key ecosystem partner.

Emerging players

• Meicai (美菜网): Meicai operates an agricultural B2B e-commerce platform connecting farmers and food producers with restaurant and institutional buyers. It overlaps with Zall's Zhongnongwang in agricultural supply chain digitization, particularly in fresh produce and food commodities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/%E5%8D%93%E5%B0%94%E5%8F%91%E5%B1%95%E9%9B%86%E5%9B%A2%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about 卓尔发展集团有限公司