Tuhu
Tuhu (途虎养车) is China's largest independent automotive services and aftermarket platform, operating an integrated online-to-offline (O2O) network for tires, auto maintenance, repair, detailing, and chassis parts replacement. Founded in 2011 in Shanghai by Chen Min and co-founders, the company offers consumers transparent pricing and standardized service quality through a combination of self-operated and franchised workshops. By the end of 2025, Tuhu's nationwide workshop network surpassed 8,000 stores (including ~175 self-operated and the remainder franchised). The company listed on the Main Board of the Hong Kong Stock Exchange on September 26, 2023 under ticker 9690.HK, becoming the first independent automotive aftermarket service company listed on HKEX. Major backers include Tencent, Carlyle, Sequoia China, Goldman Sachs, Qiming, Legend Capital, and Joy Capital.
Public Company
Tuhu is publicly traded
IPO'd on Sep 26, 2023
This company is no longer available on our private secondary market. Shares can be traded publicly under 9690.
Overview
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2011
Employees
4,000–5,000
Total Funding
$896M
5 rounds
Last Private Valuation
$4B
2019
Funding
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $896M across 5 rounds
Last updated 06-25-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Sep 26, 2023 | IPO | ~$146M (HK$1.137B) | $3.06B | Public (HKEX IPO) |
| 2019 | Pre-IPO | $300M | $4B | Tencent |
| Sep 2018 | Series E | $450M | — | Tencent Holdings, The Carlyle Group, Sequoia Capital |
Valuation Trajectory
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Entry · Pre-IPO
$4B
Jan 2019
Tuhu today
$3.1B
Sep 2023 · latest mark
Tuhu multiple
0.8x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Leadership
Chen Min
Co-Founder, Chairman & CEO
Hu Xiaodong
Co-Founder
Zhu Hequn
Vice President, Car Beauty Business & Digital Marketing
Competitors
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Tmall Auto Service
Alibaba's automotive aftermarket arm with ~2,100-2,500 offline service stores across China, leveraging Tmall e-commerce traffic to compete in tire and maintenance services.
JD Auto Service
JD.com's automotive service arm operating ~1,700 stores; launched a notable price war against Tuhu on Tuhu's first HKEX trading day, undercutting prices by ~5% and offering half-price tires/oil.
Dongdong Auto Service (ByteDance)
ByteDance's auto services brand launched in December 2023, partnering with local stores starting in Chongqing and leveraging Douyin traffic for customer acquisition.
Xiaojv Auto Service (Didi)
Didi's automotive maintenance and aftermarket service brand targeting ride-hailing fleets and retail consumers in China.
Bosch Car Service
International franchised auto service network operated by Bosch with thousands of independent partner workshops in China offering branded multi-brand repair and maintenance.
CHJ Auto / Chehui
Independent Chinese auto aftermarket chains competing in tier-2/3 cities for maintenance and tire replacement workflows similar to Tuhu's offering.
Tuhu Investment FAQ
Tuhu FAQ
Yes, Tuhu is publicly traded under the ticker symbol 9690 on the HKEX. The company went public in Sep 26, 2023.
Tuhu trades under the ticker symbol 9690 on the HKEX. It began trading in Sep 26, 2023.
Tuhu (9690 on the HKEX) shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker 9690 to place an order.
Tuhu went public in Sep 26, 2023 via ipo, with an offering valuation of approximately $4B. Tuhu Car Inc. completed its IPO on the Main Board of the Hong Kong Stock Exchange on September 26, 2023 under ticker 9690.HK. The IPO priced at HK$28 per share (bottom of indicated range), raising approximately HK$1.08 billion in net proceeds and valuing the company at roughly HK$22.75 billion (~US$2.9B). Tuhu was the first independent automotive aftermarket services company to list on HKEX. Tencent remained the largest external shareholder with ~18.7% post-IPO.
Tuhu raised $896M across 5 disclosed funding rounds prior to its public listing.
Tuhu was co-founded by Chen Min, and Hu Xiaodong in 2011.
Tuhu is headquartered in Shanghai, China.
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