Mobile power bank companies Soudian and Jiedian have merged to form a new company with Soudian and Jiedian as sub-brands. The two will maintain their original businesses and operate independently.

Soudian is a shared charger company covering more than 600 cities in China, and over 30 countries around the world with over 20,000 partners. On April 1, it announced the completion of two rounds of financing raising more than 800 million yuan (US$120 million).

Jiedian was acquired by e-commerce operator Jvyoumei in 2017. Jiedian covers more than 95 percent of Chinese cities with close to 300 million users and accumulated financing of over 500 million yuan.

After the merger, the new company will have 360 million users placing 3 million orders per day.

Sharable chargers are one of the few survivors of China's so-called sharing economy. The first half of 2017 saw more than 300 start-ups in the sector. According to the 2021 China Shared Power Bank Industry White Paper, penetration of offline devices for shared power banks has exceeded 20 percent.

The shared-charger industry has been in the news as Energy Monster [NASDAQ: EM], China's biggest power bank start-up, was listed on the Nasdaq on April 1. Another start-up, Xiaodian, has a clear plan to go public. Soudian is the only leading shared-charger company that has achieved positive growth in both investment equipment and revenue in the past two years.