On March 26, during COSCO Shipping Specialized Global Partner Conference, COSCO Shipping Specialized Carriers and Beiqi Foton jointly unveiled Guangzhou Yuanfu Automotive Supply Chain Co., Ltd., a newly established joint venture.

As the core commercial vehicle arm of BAIC Group, Beiqi Foton is one of China’s most comprehensive and leading commercial vehicle manufacturers. Its business spans the full range of commercial vehicles as well as key segments of the passenger vehicle sector. With registered capital of RMB 7.9 billion, total assets of RMB 51.8 billion, and a workforce of nearly 40,000 employees, the company’s strong industrial foundation provides a solid basis for deeper collaboration.

Beiqi Foton has consistently ranked among the top tier of China’s commercial vehicle exporters in recent years. The company operates more than 1,200 overseas sales outlets, over 1,500 service centers, and 32 KD (knock-down) plants abroad, covering key markets in Europe, Latin America, and the Asia-Pacific region. Its new energy product lineup spans fully electric, hybrid, and hydrogen fuel technologies, driving steadily increasing demand for outbound automotive supply chain services.

As a core logistics service provider for China’s automotive exports, COSCO Shipping Specialized Carriers has established a full-chain logistics system centered on specialized car carriers, supported by a diversified fleet. In terms of core capacity, its subsidiary Yuanhai Car Carrier began operations in August 2022 and has achieved rapid growth in less than four years. It now operates a fleet of more than 30 specialized car carriers, with over 70% powered by LNG dual-fuel systems, continuing to build a globally leading car carrier fleet and providing stable transport capacity for both commercial and passenger vehicle exports.

COSCO Shipping Specialized Carriers, a subsidiary of COSCO Shipping Group, operates a fleet of nearly 200 specialized vessels, including semi-submersible ships, multi-purpose heavy-lift vessels, pulp carriers, car carriers, and asphalt carriers. Its fleet size and overall capabilities rank among the world’s leading operators.

According to its annual report released on March 25, the company reported operating revenue of RMB 23.211 billion in 2025, up 38.32% year over year, and net profit attributable to shareholders of RMB 1.78 billion, an increase of 16.29%.