Fresh Life Style Supply Chain Management Startup Diligence Report
Proceed only to confirmatory diligence. A credible thesis depends on proving profitable cold-chain network density, durable top-customer retention, clean valuation/cap-table terms, arms-length New Hope governance, scalable technology/operations and manageable China/Singapore regulatory/legal exposure.
Fresh Life Style Supply Chain Management Startup Diligence Report
Fresh Life Style appears to be an active China-based private unicorn in food cold-chain supply-chain logistics based on CB Insights public data and DealStreetAsia/CB excerpts. Public evidence supports category, financing, New Hope affiliation, branch/customer-scale and Singapore-expansion screening claims, but core underwriting remains unresolved because financials, cap table, customer concentration, unit economics, governance, legal/regulatory posture and HR data are not public.
Public evidence supports unicorn-list and round-history screening, but audited financials, revenue, margins, cash/debt, forecasts and valuation bridge are private.
Diligence request: Do not rely on headline valuation until audited financials, KPI pack, capitalization, debt and financing documents are reviewed.
Aggregate counts of 5,000+ corporate clients and 1.08M shops do not reveal top-customer revenue, contract terms, retention, churn, receivables or margin contribution.
Diligence request: Request top 15 customers, revenue by customer, contract terms, NRR/GRR, churn, AR aging, customer references and severed-relationship schedule.
Cold-chain logistics requires reliable network density, temperature control, vehicle/warehouse execution, food-safety compliance and competition against large logistics providers.
Diligence request: Review operating KPIs, safety/regulatory permits, service-level history, supplier agreements, win/loss and market-share evidence.
Public sources state New Hope affiliation/subsidiary status, but ownership, governance rights, related-party contracts, transfer pricing and board control are not disclosed.
Diligence request: Request legal ownership chart, shareholder agreements, board minutes, related-party contracts, settlement policies and independence controls.
No verified legal/regulatory/IP/insurance schedule was accessible; snippet-level signals of possible court hearing require primary docket verification.
Diligence request: Counsel should run China/Singapore docket, registry, permit, IP, employment, environmental/safety, insurance and material-contract reviews.
Public client and branch counts do not disclose CAC, payback, quota attainment, channel mix, pipeline quality or marketing budget sufficiency.
Diligence request: Request sales funnel, CAC/payback, channel mix, quota attainment, pipeline coverage, marketing budget and cohort-level profitability.
Public reporting indicates Singapore expansion, but partner identity, economics, regulatory requirements, local execution and early performance are not verified.
Diligence request: Review Singapore partnership agreement, regulatory plan, operating model, management ownership and actual post-launch metrics.
AI/IoT, intelligent warehouse and vehicle R&D claims are high level; maturity, proprietary IP, deployment coverage, uptime and ROI are not public.
Diligence request: Request product roadmap, architecture, deployment metrics, patents/trademarks, IP assignments, technology spend and incident/SLA history.
Public evidence supports unicorn-list status and some financing anchors, but audited financials, valuation bridge, current cap table, cash/debt, forecasts and unit economics are not public.
not publicly verifiable confidence: high
No public audited financial statements, budget-to-actuals, backlog, AR aging, sales/gross-profit breakdown or management accounts were found.
| metric | public signal | diligence request | status |
|---|---|---|---|
| Revenue / ARR / billings | No audited revenue or KPI history found in public sources. | Audited statements, monthly revenue, deferred revenue, billings and revenue-recognition policy. | not_publicly_verifiable |
| Gross margin and route economics | Service scope is public but costs/prices are not. | Warehouse, fleet, labor, energy, cold-chain spoilage and route P&Ls. | not_publicly_verifiable |
| Backlog, AR aging and customer collections | No backlog or receivables schedule found. | Backlog by customer, AR aging, bad-debt reserve and collection policy. | not_publicly_verifiable |
| Cash, debt and runway | Funding events are public; cash, burn and debt are not. | Cash balance, debt/lease obligations, bank lines, covenant schedule and 24-month runway plan. | not_publicly_verifiable |
partially verified confidence: medium
Growth drivers are plausible from cold-chain market and customer/branch scale signals, but projections, assumptions, capex, working capital and financing plan are private.
partially verified confidence: medium
Public sources identify investor/parent signals but not shares outstanding, option pool, debt, preferences, warrants, notes or off-balance-sheet liabilities.
| stakeholder or instrument | public position | diligence caveat | verification status |
|---|---|---|---|
| New Hope Group / CAOGENZHIBEN ecosystem | CB says subsidiary of New Hope Group; CB unicorn list names CAOGENZHIBEN GROUP investor. | Exact ownership, board control and related-party economics unknown. | partially_verified |
| Venture and strategic investors | Guiyang Venture Capital, Longfor Capital, CITIC/Far East Horizon and others appear in public sources. | Share classes, preferences, anti-dilution and current ownership not public. | partially_verified |
| Debt, bank lines, warrants, options | No public schedule found. | Could materially affect enterprise value and control. | not_publicly_verifiable |
| Off-balance-sheet liabilities / leases | No public schedule found. | Warehouses, vehicles and cold-chain assets may carry lease or guarantee obligations. | not_publicly_verifiable |
partially verified confidence: medium
Financing history is partly public; tax positions, accounting policies and current basis for each round remain private.
| date | round or event | investors or participants | amount or valuation | verification status | diligence caveat |
|---|---|---|---|---|---|
| 2021-01 | Series A | Longfor Capital, CICC Capital, Far East Horizon | RMB600M / $83.9M reported | partially_verified | Need primary subscription documents and proceeds schedule. |
| 2022-03 | Series B main tranche / unicorn entry | CITIC Construction Investment, Guiyang Venture Capital, Far East Horizon; CB list also names Longfor Capital and CAOGENZHIBEN GROUP | RMB10B / $1.4B reported valuation; CB list $1.57B | partially_verified | Reconcile valuation/date differences and liquidation preferences. |
| 2024-11 | Series B extension / B+ financing | Several domestic investors; snippets name Shuxin Tongyuan, Ningbo Xingfeng, Zhixin Jianyuan; prior investors include CITIC/Guyang/Far East Horizon | Overall Series B nearly RMB900M / $125.8M reported | partially_verified | Search-snippet evidence is weak; obtain company announcement and round docs. |
| current | Current cash, debt, option pool, preferences | not_publicly_verifiable | not_publicly_verifiable | not_publicly_verifiable | Full cap table, debt schedule and shareholder register required. |
CB Insights total-raised figure ($92.61M) should be reconciled against RMB-denominated Series B press reports.
Fresh Life Style publicly positions as a B2B cold-chain food supply-chain platform with warehousing, AI/IoT and vehicle R&D signals, but pricing, margin, technology maturity and product roadmap are private.
partially verified confidence: medium
Public sources describe one-stop cold-chain logistics from sourcing to delivery plus intelligent warehouses, AI/IoT and vehicle R&D; no public proof was found for product-level growth, market share, profitability or roadmap timing.
| product or service | audience | public evidence | diligence request | verification status |
|---|---|---|---|---|
| One-stop cold-chain logistics | Restaurant chains, fresh-produce farms, retailers and food distributors | Services from sourcing to delivery for fresh food products. | Service catalog, SLAs, temperature-control KPIs and customer contracts. | verified for public description |
| Intelligent logistics warehouses | B2B food supply-chain customers | Public reporting cites intelligent logistics warehouse operations. | Warehouse footprint, utilization, capex, automation vendors and gross margin. | partially_verified |
| AI/IoT supply-chain technology | Internal network and customer visibility use cases | Public reporting cites AI and IoT technology development. | Architecture, proprietary IP, deployment coverage, data rights and ROI. | partially_verified |
| Cold-chain logistics vehicle R&D/commercialization | Fleet operators and internal logistics network | Works with automakers on R&D/commercialization. | Automaker agreements, vehicle economics, safety approvals and roadmap. | partially_verified |
| item | public signal | benchmark or risk | diligence request | status |
|---|---|---|---|---|
| Customer pricing / tariff schedule | No public price book found. | B2B logistics pricing may be bespoke and margin-sensitive. | Representative contracts, discounts, fuel/energy surcharges and price escalators. | not_publicly_verifiable |
| Route and branch density economics | 100+ branches disclosed; utilization and density not public. | Low route density can pressure margins despite scale. | Route P&L, branch utilization, stop density and on-time/temp-control KPIs. | not_publicly_verifiable |
| Competitor pricing pressure | CB places company among cold-chain network competitors including global incumbents. | Large logistics providers can compete on service breadth and procurement scale. | Win/loss, account-overlap and pricing benchmark by lane/temperature band. | partially_verified |
Aggregate reach of 5,000+ corporate clients, 1.08M shops and 100+ branches is publicly reported, but top-customer revenue, retention, severed relationships and supplier concentration are not public.
partially verified confidence: medium
Public sources disclose broad client/shop counts and customer segments but do not name top customers or application-level purchases.
| customer or segment | use case | public evidence | missing information | verification status |
|---|---|---|---|---|
| 5,000+ corporate clients | B2B cold-chain services | Reported aggregate client count. | Named customers, revenue by customer, contract lengths, retention and margin. | partially_verified |
| 1.08M shops | Downstream shop/service reach | Reported aggregate shop count. | Shop definitions, active vs cumulative, revenue conversion and churn. | partially_verified |
| Restaurant chains, fresh produce farms and retailers | Sourcing-to-delivery cold-chain supply | Segments named in CB/DealStreetAsia description. | Top 15 customers by application and product ownership/timing of purchases. | partially_verified |
| Top 15 customers / >5% accounts | Revenue concentration diligence | No named top-customer schedule found. | Customer names, ARR/revenue, contract terms, collections, renewals and references. | not_publicly_verifiable |
partially verified confidence: medium
Public evidence supports New Hope/CAOGENZHIBEN affiliation, investor ecosystem, automaker R&D collaboration and Singapore partnership signals, but economics and contracts are private.
| partner | nature | public evidence | diligence gap | status |
|---|---|---|---|---|
| New Hope Group / CAOGENZHIBEN ecosystem | Parent/incubator/investor ecosystem | CB profile says subsidiary of New Hope Group; CB unicorn row names CAOGENZHIBEN GROUP. | Ownership, board rights, related-party contracts and economics. | partially_verified |
| Singapore logistics provider | Equity partnership / overseas expansion | Public reporting and Baidu snippets cite Singapore equity partnership. | Partner identity, agreement, regulatory approvals, capex and early KPIs. | partially_verified |
| Automakers | Cold-chain vehicle R&D/commercialization | Public reporting says Fresh Life Style works with automakers. | Counterparty names, IP ownership, commercialization milestones and safety approvals. | partially_verified |
| Domestic financing investors | Strategic/financial backing | Public sources name Guiyang Venture Capital, Longfor Capital, CITIC, Far East Horizon and others. | Investor rights, governance rights and side letters. | partially_verified |
not publicly verifiable confidence: high
No customer-level revenue or concentration schedule is public.
not publicly verifiable confidence: high
No public severed-customer, partner or supplier relationship schedule was found.
not publicly verifiable confidence: medium
Suppliers, landlords, fleet providers, automakers, fuel/energy and technology vendors are not publicly scheduled, although public product descriptions imply these dependencies.
| dependency | role | public evidence | concentration risk | diligence request |
|---|---|---|---|---|
| Warehouses / DC, TC, EC network | Storage, transshipment and distribution | Intelligent warehouses and nationwide branch network reported. | Lease/capex/utilization exposure not public. | Top suppliers/landlords, warehouse leases, utilization and renewal terms. |
| Cold-chain vehicles and automakers | Temperature-controlled transport capacity | Works with automakers on cold-chain vehicle R&D/commercialization. | Supplier identity, warranty, maintenance and capex unknown. | Fleet schedule, vehicle suppliers, maintenance contracts and safety certifications. |
| Fuel/energy, labor and route operations | Core cost-to-serve drivers | No public supplier or cost schedule found. | Cost volatility and service failures can pressure margins. | Supplier spend, contract terms, hedging/surcharges and operating KPIs. |
| Technology vendors / IoT stack | Tracking, monitoring and supply-chain visibility | AI/IoT development referenced but vendor stack not disclosed. | Data, cybersecurity and vendor lock-in risk unknown. | Architecture, vendors, data rights, incident history and cybersecurity review. |
CB Insights labels Fresh Life Style a Challenger in cold-chain shipping networks alongside large logistics companies, but market share, win/loss, price competition and domestic competitor mapping remain unresolved.
partially verified confidence: medium
Public evidence places the company in the cold-chain shipping networks market with global incumbents; direct domestic competitor dynamics and basis-of-competition data require deeper research and customer calls.
| company | segment | public signal | overlap or differentiator | diligence request |
|---|---|---|---|---|
| Fresh Life Style Supply Chain Management | China B2B food cold-chain supply chain | CB labels Challenger in cold-chain shipping networks. | China food-service/fresh-food vertical focus and New Hope ecosystem. | Market share, route density, win/loss and customer retention. |
| UPS | Global logistics / cold-chain networks | Named by CB as company in same ESP matrix. | Global scale; product overlap must be tested by lane/customer. | Account-overlap and lane-level price/service benchmarks. |
| The Maersk Group | Global logistics / cold-chain networks | Named by CB as company in same ESP matrix. | Global integrated logistics and shipping scale. | Assess where Maersk competes in China cold-chain food distribution. |
| FedEx | Global logistics / cold-chain networks | Named by CB as company in same ESP matrix. | Global parcel/logistics network; cold-chain overlap may differ by product. | Customer win/loss and service-level comparison. |
| Domestic cold-chain platforms | China cold-chain logistics | Not named in accessible source set. | Likely local network/price competition; names require follow-up. | Build direct competitor list from customer calls and industry data. |
| axis | target public position | competitor context | evidence gap | risk id |
|---|---|---|---|---|
| Network density and branch coverage | 100+ branches reported nationwide. | Global incumbents have broad networks; domestic competitors not mapped. | Branch-level utilization, coverage, service levels and economics. | R-003 |
| Food cold-chain specialization | Food-service/fresh-food vertical described publicly. | Large logistics providers may have broader cold-chain capabilities. | Customer references, temp-control failure rates and spoilage claims. | R-003 |
| Technology / AI / IoT | AI/IoT and intelligent warehouses publicly referenced. | Differentiation unproven without deployment metrics. | IP, architecture, uptime, ROI and cybersecurity. | R-006 |
| Price / cost-to-serve | Pricing and cost structure not public. | Logistics markets can be price-sensitive. | Price book, gross margin, CAC/payback and route P&Ls. | R-001 |
Public GTM signals include B2B customer segments, 100+ branches, New Hope ecosystem and Singapore partnership, but sales productivity, CAC/payback, pipeline and marketing budget are private.
partially verified confidence: medium
The company appears to distribute through direct B2B services, a nationwide branch network, strategic ecosystem relationships and a reported Singapore partnership.
| channel | region | public evidence | gap | status |
|---|---|---|---|---|
| Direct B2B enterprise/food-service sales | China | Restaurant chains, farms, retailers and 5,000+ corporate clients reported. | Pipeline, sales cycle, quota attainment and contract economics. | partially_verified |
| Nationwide branch network | China | 100+ branches nationwide reported. | Branch P&L, coverage map, utilization and local sales productivity. | partially_verified |
| Strategic ecosystem / New Hope | China | New Hope subsidiary/incubator relationship reported. | Related-party revenue, referrals, procurement and governance. | partially_verified |
| International partnership | Singapore / Southeast Asia | Singapore equity partnership reported. | Partner identity, operating model, local compliance and early revenue. | partially_verified |
not publicly verifiable confidence: high
Major customer status, trends, growth prospects and pipeline are not public despite reported aggregate scale.
| signal or metric | public signal | why it matters | diligence request | status |
|---|---|---|---|---|
| Financing PR / media visibility | 2024 B+ financing snippets and DealStreetAsia article title/header. | Supports market visibility but not customer demand. | PR calendar, lead attribution and investor update pack. | partially_verified |
| Sales cycle / quota / productivity | No public sales productivity metrics found. | Determines scalability and payback. | Sales roster, quotas, attainment, pipeline conversion and CAC/payback. | not_publicly_verifiable |
| Major customer expansion pipeline | Aggregate customers/shops reported but not pipeline. | Growth quality depends on renewals and cross-sell. | Pipeline by stage, renewal calendar, customer references and churn cohorts. | not_publicly_verifiable |
| Marketing budget sufficiency | No public marketing budget found. | Expansion and competition may require investment. | Budget, spend mix, ROI, overseas launch plan and scenario model. | not_publicly_verifiable |
partially verified confidence: medium
Public sources imply new business through B2B enterprise sales, branch network density, New Hope ecosystem referrals and Singapore partnership, but conversion data is private.
not publicly verifiable confidence: high
Sales compensation, quotas, sales cycle and hiring plan were not publicly verifiable.
not publicly verifiable confidence: medium
Marketing budget sufficiency is not publicly verifiable; financing proceeds may support growth but uses of funds are not public.
Public reporting references AI/IoT, intelligent warehouses and cold-chain vehicle R&D, but R&D organization, personnel, budget, IP ownership and roadmap are not public.
partially verified confidence: medium
R&D activities are publicly described at a high level, but no R&D leaders, org chart, budget or staffing data were verified.
| area | public signal | personnel or owner | diligence request | status |
|---|---|---|---|---|
| AI / IoT supply-chain technology | Development of AI and IoT technologies cited. | No R&D leaders publicly verified in accessible sources. | Engineering org chart, roadmap, deployment metrics and vendor/IP map. | partially_verified for activity; team not public |
| Intelligent logistics warehouses | Operation of intelligent logistics warehouses cited. | Operations/R&D split not public. | Automation roadmap, capex budget, vendors and utilization. | partially_verified |
| Cold-chain vehicle R&D | Works with automakers in R&D/commercialization. | Counterparty and project owners not disclosed. | Automaker contracts, safety approvals, IP ownership and commercialization milestones. | partially_verified |
| R&D budget and capitalized software | No public R&D budget found. | not_publicly_verifiable | R&D spend, capitalization policy, hiring plan and product-stage gates. | not_publicly_verifiable |
partially verified confidence: medium
The public pipeline includes overseas expansion, AI/IoT, intelligent warehouses and vehicle R&D, but timing, cost, critical technology and new-product risks are private.
| project | public status | expected date | key risks | diligence request |
|---|---|---|---|---|
| Singapore overseas expansion | Equity partnership reported as first stop outside China. | Started planning May 2022; partnership reported January (year from 2024 article context). | Market-entry execution, partner governance, local compliance. | Launch plan, partner agreement, budget, KPIs and regulatory approvals. |
| AI/IoT supply-chain technology | Technology development publicly referenced. | not_publicly_verifiable | ROI, data quality, cybersecurity and proprietary defensibility. | Architecture, deployment coverage, vendors, IP and security review. |
| Cold-chain logistics vehicles | R&D/commercialization work with automakers publicly referenced. | not_publicly_verifiable | Capex, safety approvals, demand and supplier dependency. | Counterparty agreements, fleet economics and certification status. |
| New product enhancements / roadmap | No complete roadmap found. | not_publicly_verifiable | Execution and budget risk. | Product roadmap, stage-gate plan, R&D budget and release history. |
New Hope affiliation and operating footprint are public, but senior management bios, org chart, headcount, compensation, incentive plans, employee issues and turnover are not public.
not publicly verifiable confidence: high
No verified internal organization chart was found; public parent/investor signals provide only governance context.
| person or entity | role | public evidence | diligence gap | status |
|---|---|---|---|---|
| New Hope Group | Reported parent/subsidiary relationship | CB says Fresh Life Style operates as subsidiary of New Hope Group. | Board control, ownership percentage and related-party contracts. | partially_verified |
| CAOGENZHIBEN GROUP | Investor / New Hope-linked ecosystem signal | Named by CB unicorn list as investor. | Legal relationship to parent, governance rights and related-party economics. | verified as public list entry |
| CEO / founder / general manager | Senior management | No accessible source in this run verified a senior management biography. | Bios, tenure, employment agreements, references and key-person risk. | not_publicly_verifiable |
| Board / investor representatives | Governance | Investor names public; board composition not public. | Board minutes, approval rights, observer rights and committees. | not_publicly_verifiable |
not publicly verifiable confidence: high
Public branch/client/shop counts imply scale, but employee headcount by function/location and hiring plan are private.
| function or region | public signal | interpretation | diligence request | status |
|---|---|---|---|---|
| Branch operations / China | 100+ branches nationwide reported. | Implies distributed operations workforce, but headcount unknown. | Headcount by branch/function/location and contractor/vendor split. | partially_verified for branches; headcount not public |
| Sales / account management | 5,000+ corporate clients reported. | May require significant sales/service team; productivity not public. | Sales roster, quotas, attainment, compensation and pipeline by region. | not_publicly_verifiable |
| R&D / technology | AI/IoT and vehicle R&D referenced. | Technical team exists or is partnered, but staffing not public. | Engineering/product org chart, vendors, hiring plan and retention. | not_publicly_verifiable |
| Singapore / overseas | Singapore partnership reported. | Expansion team/partner staffing unknown. | Overseas org plan, local hires, partner staffing, compliance owner. | not_publicly_verifiable |
not publicly verifiable confidence: high
Accessible public sources did not verify senior management biographies.
not publicly verifiable confidence: high
Employment agreements, compensation and benefit plans are private.
| topic | public signal | risk | diligence request | status |
|---|---|---|---|---|
| Personnel turnover | No turnover schedule found. | Operational continuity and service quality could be affected by branch-level churn. | Turnover by function/location, regretted attrition, exit interviews and retention plan. | not_publicly_verifiable |
| Compensation / benefits | No employment agreements or benefits summary found. | Cost inflation and retention risk unknown. | Employment agreements, comp bands, benefit plans and labor compliance review. | not_publicly_verifiable |
| Incentive stock / equity plans | No option or incentive plan schedule found. | Dilution, retention and governance unknown. | Option pool, grants, vesting, repurchase rights and approvals. | not_publicly_verifiable |
| Employee relations / safety | No employee-relations or safety matter schedule found. | Cold-chain logistics operations can involve worker safety and labor-compliance exposure. | HR litigation, safety incidents, training records and regulatory correspondence. | not_publicly_verifiable |
not publicly verifiable confidence: high
Incentive stock/option plans and dilution are not public.
not publicly verifiable confidence: medium
No employee-relations problem schedule was publicly available.
not publicly verifiable confidence: high
Turnover data and retention-related benefit plans are not public.
Public research did not provide verified legal dockets, IP ownership, permits, insurance, material contracts or regulatory action schedules; counsel should treat this as a high-priority gap.
inconclusive confidence: low
No primary court docket was verified; a Baidu snippet surfaced an unverified warehousing contract dispute hearing signal that needs docket confirmation.
| case or signal | court or source | filed or hearing date | status | diligence request |
|---|---|---|---|---|
| Verified lawsuits against company | No primary docket reviewed in this run. | not_publicly_verifiable | not_publicly_verifiable | Counsel to run China court docket, arbitration and enforcement searches. |
| Unverified warehousing contract dispute snippet | Baidu search-result snippet | 2026-05-09 hearing date mentioned in snippet | inconclusive | Obtain docket, party names, pleadings, amount at issue, status and counsel assessment. |
| Environmental / safety claims | No public schedule found. | not_publicly_verifiable | not_publicly_verifiable | Review safety incidents, temperature-control failures, food-safety claims and environmental records. |
Do not treat the snippet as a verified lawsuit without a court record.
not publicly verifiable confidence: medium
No lawsuits initiated by the company were verified publicly.
| defendant or matter | court or source | filed date | status | diligence request |
|---|---|---|---|---|
| Customer collection / contract claims | No primary docket reviewed. | not_publicly_verifiable | not_publicly_verifiable | Docket search plus AR reserve and collection litigation schedule. |
| Supplier / landlord / fleet claims | No primary docket reviewed. | not_publicly_verifiable | not_publicly_verifiable | Legal schedule covering supplier, lease, vehicle and warehouse disputes. |
| IP or trade-secret enforcement | No verified IP litigation found. | not_publicly_verifiable | not_publicly_verifiable | IP litigation, trade-secret and infringement schedule from counsel. |
not publicly verifiable confidence: medium
Food cold-chain logistics implies safety, temperature-control, fleet and warehouse compliance obligations, but no incident or permit schedule was public.
| area | public signal | risk | diligence request | priority |
|---|---|---|---|---|
| Food safety / cold-chain permits | Food cold-chain operations described; permit schedule unavailable. | Temperature-control, food-safety and transport compliance failures could create liability. | Licenses, permits, inspections, incidents and corrective actions by jurisdiction. | high |
| Environmental and employee safety | No public safety incident schedule found. | Warehouse/fleet operations can create worker-safety, refrigeration and environmental exposures. | Safety logs, training, OSHA-equivalent/local records, refrigeration/energy compliance. | high |
| Insurance coverage | No insurance policies public. | Spoilage, cargo loss, cyber, auto, property and product-liability coverage may be inadequate. | Policies, limits, exclusions, claims history and broker summary. | high |
| Material contracts and related-party agreements | Partnerships and New Hope affiliation public; contracts not public. | Related-party, exclusivity, minimum volume, lease or partner obligations may constrain operations. | Top customer/supplier/partner/lease/financing contracts and related-party schedule. | high |
partially verified confidence: medium
Brand/alias use and technology activities are public, but trademark, patent, software, data and vehicle R&D rights are not verified.
| asset or right | jurisdiction | public status | diligence request | verification status |
|---|---|---|---|---|
| Fresh Life Style / 鲜生活冷链 brand | China / global public use | Company profile and Chinese snippets use the names; trademark ownership not verified. | Trademark registration, assignments, domain ownership and brand licenses. | partially_verified for usage; ownership not public |
| Xianshenghuo Cold Chain Logistics Co., Ltd. alias | China | CB identifies former name. | Corporate-name change records, asset transfers and contracts under former name. | verified for public alias |
| AI/IoT software, warehouse technology and data rights | China / Singapore if expanded | Technology activities reported; IP ownership not public. | Patent/trademark/copyright records, source-code ownership, vendor licenses and data-rights review. | not_publicly_verifiable |
| Cold-chain vehicle R&D rights | China | Automaker collaboration reported; license and IP rights not public. | Automaker contracts, patent filings, exclusivity and commercialization rights. | not_publicly_verifiable |
not publicly verifiable confidence: high
Insurance policies and claims history are not public.
not publicly verifiable confidence: high
Customer, supplier, lease, automaker, Singapore, financing and related-party contracts are private.
not publicly verifiable confidence: medium
No verified regulatory agency problems were found in accessible sources, but registry/regulatory searches were incomplete.
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | CB Insights lists Fresh Life Style Supply Chain Management as a China/Chengdu Consumer & Retail unicorn valued at $1.57B with date joined 2022-03-11. | verified high | SRC-001 |
| EC-002 | CB Insights profile identifies Fresh Life Style as founded in 2016, alive, Series B - III, and total raised $92.61M. | verified medium | SRC-002 |
| EC-003 | The company provides cold-chain supply-chain solutions for the food industry from sourcing to delivery and serves food-service and retail sectors. | verified medium | SRC-002 |
| EC-004 | Public profile states Fresh Life Style formerly operated as Xianshenghuo Cold Chain Logistics and operates as a subsidiary of New Hope Group. | partially verified medium | SRC-002SRC-003 |
| EC-005 | Public secondary reporting says Fresh Life Style completed a 2024 Series B extension and that its overall Series B financing approached RMB900M / $125.8M, following a March 2022 main tranche at RMB10B / $1.4B valuation. | partially verified medium | SRC-002SRC-003 |
| EC-006 | Public reporting says the company served over 5,000 corporate clients and 1.08M shops through 100+ branches nationwide. | partially verified medium | SRC-002SRC-003 |
| EC-007 | Public reporting cites a China cold-chain logistics market estimate of $73.3B in 2023, about 25% of the global market. | partially verified low | SRC-002SRC-003 |
| EC-008 | Public reporting says the business covers intelligent logistics warehouses, AI/IoT supply-chain technologies, and R&D/commercialization work with automakers on cold-chain logistics vehicles. | partially verified medium | SRC-002SRC-003 |
| EC-009 | Public reporting says Fresh Life Style started overseas expansion planning in May 2022 and signed a Singapore equity partnership in January for its first stop outside China. | partially verified medium | SRC-002SRC-003SRC-005 |
| EC-010 | Chinese search-result snippets also report a 2024 B+ financing round of several hundred million RMB and name investors including Shuxin Tongyuan, Ningbo Xingfeng Industrial Group and Zhixin Jianyuan. | partially verified low | SRC-004 |
| EC-011 | Public materials reviewed did not disclose audited financial statements, revenue, gross margin, cash, debt, AR aging, backlog, tax position or forecast model. | not publicly verifiable high | SRC-001SRC-002SRC-003SRC-004 |
| EC-012 | Public aggregate customer counts do not disclose top-customer revenue, contract terms, renewals, churn, NRR, severed relationships or revenue concentration. | not publicly verifiable high | SRC-002SRC-003 |
| EC-013 | Public sources do not disclose customer pricing, supplier costs, route-level economics, warehouse utilization, gross margin or CAC/payback. | not publicly verifiable high | SRC-002SRC-003 |
| EC-014 | CB Insights classifies Fresh Life Style as a Challenger in cold-chain shipping networks alongside 15 other companies including UPS, Maersk and FedEx. | verified medium | SRC-002 |
| EC-015 | Available public research did not provide a verified legal docket, regulatory-action schedule, insurance policies, material contracts, licenses or IP ownership records. | not publicly verifiable medium | SRC-002SRC-006SRC-007SRC-008 |
| EC-016 | Senior management biographies, organization chart, headcount by function/location, compensation, incentive plans and turnover were not disclosed in accessible public sources. | not publicly verifiable high | SRC-002SRC-003SRC-006SRC-007 |
| EC-017 | Several potentially useful primary or database sources were inaccessible, login-gated, rate-limited, certificate-blocked, or access-denied during the run. | verified high | SRC-006SRC-007SRC-008SRC-009 |
| EC-018 | A Baidu search snippet surfaced an unverified 2026 hearing notice mentioning a warehousing contract dispute related to Fresh Life Style; no docket was independently confirmed. | inconclusive low | SRC-005 |
| ID | Publisher | Title | Accessed |
|---|---|---|---|
| SRC-001 | CB Insights | The Complete List of Unicorn Companies | 2026-06-08 |
| SRC-002 | CB Insights | Fresh Life Style Supply Chain Management company profile | 2026-06-08 |
| SRC-003 | DealStreetAsia | Chinese cold-chain logistics unicorn Fresh Life Style closes Series B at $126m | 2026-06-08 |
| SRC-004 | Baidu Search | Baidu search results for Fresh Life Style Cold Chain B-round financing | 2026-06-08 |
| SRC-005 | Baidu Search | Baidu search results for Fresh Life Style Cold Chain Singapore equity partnership | 2026-06-08 |
| SRC-006 | Crunchbase | Crunchbase organization page for Xianshenghuo | 2026-06-08 |
| SRC-007 | IT Juzi | IT Juzi company page lookup | 2026-06-08 |
| SRC-008 | New Hope Group | New Hope Group website access attempts | 2026-06-08 |
| SRC-009 | Fresh Life Style / Xianshenghuo (unverified domain) | Likely company-domain access probes | 2026-06-08 |
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.