![Changjiu Holdings logo](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>)
September 2026
Largest Road Transportation Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
YTO Express, Deppon Logistics, Keytop Parking, Shanghai Foreign Services and Dazhong Transportation.
 | YTO Express is one of the Tongda Operators—the top four national express delivery companies that use the network partner model. In this model, Tongdas provide line-haul transportation, sorting, and waybill services to their network partners for fees, while their local network partners provide first-mile pickup and last-mile delivery services under the Tongdas’ brands and collect customer payments. The company was founded by Yu Huijiao in 2020. Yu remains chair and president with a 33.2% stake as of Sept. 30, 2024. Yu and Zhang Xiao Juan, who owned 2.15% of YTO as of that date, are persons acting in concert. YTO’s strategic shareholder is leading China e-commerce company Alibaba Group and its affiliated companies, with around a 20.09% interest as of Sept. 30, 2024. | $3 | -2% | $8.6B | $8.5B | 0.8x | 7.1x | ||
| Deppon Logistics Co Ltd is a logistics providing company. The company focuses on businesses like express delivery, whole vehicle storage, and supply chain, and cross-border. | -- | -- | $2.8B | $2.7B | 0.4x | 5.8x | ||
| Keytop Parking Inc operates in the smart parking sector, providing smart parking systems, parking management services, and parking facility and platform operations. It also operates an online parking space rental platform that enables parking facility owners and individual space owners to list available parking spaces and allows users to search and rent parking spaces. The company's business portfolio includes various products and services covering smart parking systems, smart parking management services, and parking facility and platform operations. Its services are applied across various locations, including commercial complexes, office buildings, residential communities, public facilities, hotels, schools, hospitals, and logistics parks. | $14 | -- | $1.5B | $1.4B | 11.4x | 48.8x | ||
| Shanghai Foreign Service Holding Group Co Ltd is principally engaged in providing taxi services. It is also involved in the rental of cars, automobile service, tourism and housing industry. Geographically the activities are carried out through Shanghai. | $1 | -15% | $1.4B | $300M | 0.1x | 2.0x | ||
| Dazhong Transportation (Group) Co Ltd is a passenger transportation and property investment company. The company operates taxis and public bus passenger transportation, and maintains, leases, and distributes automobiles. Dazhong Transportation also operates a real estate investment business, which develops, leases, and sells residential and commercial property. In addition, the company provides logistics, tourism, and catering services. The company is headquartered in the People's Republic of China, and generates revenue domestically. | $1 | -17% | $1.3B | $1.7B | 5.0x | 12.7x | ||
| Hangzhou SF Intra-City Industrial Co Ltd is a third party instant distribution platform in China. It serves brand customers, small and medium sized merchants and individual users providing integrated real time logistics solutions for commercial distribution, daily pickup and delivery and others. | $1 | -- | $936M | $579M | 0.2x | 10.8x | ||
| Changjiu Holdings Ltd provides pledged vehicle monitoring services and automobile dealership operation management services in China. Its two reportable segments are: pledged vehicle monitoring service and automobile dealership operation management service. The company derives maximum revenue from Pledged vehicle monitoring services segment. | $0 | -52% | $82M | $75M | 0.3x | 2.7x | ||
| MingZhu Logistics Holdings Ltd is a Holding company. Its business activities include trucking services and car owner services. The segments of the company are the trucking business, car owner services business, and liquor distribution business. | $0 | -100% | $308K | $3M | 0.1x | (0.5x) | ||
| Median | $1 | -17% | $1.3B | $994M | 0.4x | 6.5x |
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