Zhaogang Group
找钢集团
Zhaogang Group is China's largest third-party steel trading digital platform, founded by Wang Dong after he sent an email to a small group of former colleagues and industry contacts thirteen years ago — an origin story ZhenFund, one of its earliest backers, described as assembling "one of China's most resilient B2B platform teams" . The platform connects roughly 15,000 registered sellers and over 180,000 registered buyers, and in 2023 recorded 47.3 million tons of third-party steel transactions, representing about 40% of China's total third-party online steel trading volume .
Wang's path to founding the company was unconventional: a former university physics teacher who discovered the internet through competitive StarCraft gaming in the early 2000s, he moved from Zhengzhou to Shanghai after the 2011 Shanghai steel trade crisis created market disruption, and his email to ZhenFund's Dream Center secured angel investment — making Zhaogang the firm's first B2B investment . The company differentiated itself from mid-2010s competitors through operational discipline rather than rapid geographic expansion .
On March 10, 2025, Zhaogang Group listed on the Hong Kong Stock Exchange under ticker 06676.HK, becoming the first mainland Chinese company to go public via De-SPAC in Hong Kong and the first steel e-commerce company to list on the main board in nearly three years . Yunqi Capital, which joined the company's Series E round in 2016, counted it among its portfolio companies reaching public markets .
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Coverage
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On March 10, **Zhaogang Group**, a Yunqi Capital portfolio company and operator of China's largest steel e-commerce platform, officially began trading on the Main Board of the Hong Kong Stock Exchange under **ticker symbol 06676**, marking Hong Kong's second-ever De-SPAC transaction.
A Conversation with Zhaogang Group's Wang Dong: An Esports Team, an Email, and Thirteen Years of Entrepreneurship
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ZhenFund Angel Project "Zhaogang Group" Successfully Lists on Hong Kong Stock Exchange Main Board | Z News
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