Rundong Auto will be Renamed as

"China Greenland Rundong Auto Group Limited"    
Greenland Rundong Signed the Strategic Cooperation Agreement with the Subsidiaries of the Group ― Greenland Financial Investment and Greenland E-commerce

[August 21, 2015 - Hong Kong] One of the largest luxury car distributorship group in East China coastal regions ─ China Rundong Auto Group Limited ("Rundong Auto" or the "Company", together with its subsidiaries, collectively named as the "Group", Stock Code: 1365.HK) is pleased to announce that Greenland Financial Overseas Investment Group Co., Ltd., which is a wholly-owned subsidiary of the China leading real estate company China Greenland Holdings Group Limited ("Greenland Group"), completed the transaction of subscription for the Rundong Auto shares. Greenland has officially become the controlling shareholder of Rundong Auto. Rundong Auto will be officially renamed as "China Greenland Rundong Auto Group Limite". The URL and Company stock code "1365" will remain unchanged. The change of the company name marks the new milestone for the Company's development.

Mr. Zhang Yuliang, Chairman and President of the Greenland Group, said, "Being optimistic about the steady business and bright business prospects of Rundong Auto are the reasons why we have become its controlling stockholder and formed strategic cooperation. We will fully support the development of Greenland Rundong and treat it as the unique listed company platform to operate the automobile distributorship business and automobile financial services, automobile after-sales and value-added services under the Greenland Group. We believe that such cross-border cooperation will lead to a win-win situation where favorable conditions and new profit growth point could be created for future development."

This cooperation will constitute a strong support and boost for the implementation of development of Greenland Rundong's strategic planning, facilitating Greenland Rundong to enhance the enterprise development level and core competitiveness swiftly; expanding the automobile service value chain; enlarging the business scale, innovating the business models and strengthening the operating management through capital operation, combination between industry and finance, and Internet innovation.

The Group will then be developed into a world-class integrated automobile consumption life service provider with huge scale, sustaining growth and outstanding efficiency. The cross-border cooperation between Greenland Rundong and the Greenland Group will become the paragon of transforming development and business enhancement for China automobile dealership enterprises.

Mr. Yang Peng, Chairman, Executive Director and President of Greenland Rundong Auto, expressed confidence for future development, "Greenland Rundong will make the automobile consumption business bigger and stronger by relying on abundant capital and leading integrated advantages of the Group; build the personalized auto life community service platform by mobile internet; and seize the industry development opportunities to accelerate the development of the automobile finance business. Greenland Rundong will utilize the opportunities of relatively low asset value to carry out acquisition of the automobile companies of the big consumption segments through the establishment of industrial development fund, and expand the network of new energy automobiles and its operating scale. Greenland Rundong will accelerate the business development of the automobile parallel trade and the global sales network layout of "developing the European and American markets after the Asia-Pacific ones", based on the foundation of focusing development on East China regions and strengthening of network marketing."

Mr. Shen Jinjun, President of the China Automobile Dealers Association, and Miss Choy Hongjun, Chairman of Citibank China Region, are also optimistic about such innovative cooperation model of bringing the mutual advantages resources into full play and the cross-border integration, and unanimously agreed that, "the successful signing of the agreement between Rundong Auto and the Greenland Group is a key step in terms of China's automobile distributorship industry's integration of resources and innovation for development. With the full support from the Green Group, Greenland Rundong can further integrate the industry resources and establish the scene of consumption according to the community-based groups with the help of automobile finance platform and mobile internet technology, providing customers with the perfect automobile life experience and creating new ecosystem for the automobile industry."

Greenland Rundong has signed the strategic cooperation agreement with the subsidiaries of the Greenland Group ― "Greenland Financial Overseas Investment Group" ("Greenland Financial Investment") and Zhongyi E-commerce (Shanghai) Co., Ltd. ("Greenland E-commerce") respectively, which forms the strategic cooperation relationship for collaboration of the automobile finance business and e-commerce business.

Greenland Financial Investment and Rundong Auto establish a strategic cooperation relationship in the field of automobile finance:

Seizing the industry development opportunities and establishing the automobile finance platform to match with the strategic objectives are not only the strategic plan of the Greenland Group to enter the automobile segment, but also the key act of Rundong Auto to achieve transformation. Greenland Rundong will focus on the development of automobile financial leasing, related automobile finance and internet financial business, and will also integrate the online and offline resources of the Greenland Group and Rundong Auto to build the open financial service platform with the automobile products as the core business, accelerating the formation of the business scale through output of management and integration of industry and finance.

Greenland E-commerce and Rundong Auto establish the strategic cooperation relationship by building the personalized community service platform of the automobile life through mobile internet:

Greenland Rundong will link up with the global membership system of the Greenland Group to share information, build customer portraits and explore customer demand. With customer experience oriented manner, it facilitates the O2O model combining online and offline, increases varieties of the products and achieves service diversification to enhance customers' stickiness and frequency of consumption. Striving to create the Greenland community-based ecology of the automobile groups and economic rims, it provides customers a convenient and personalized service, and lays the foundation for continued exploration of customer value and extension of diversified business.

Establish a World-class Integrated Life Service Platform for Automobile Consumers

Release time

2015/8/21 0:40:51

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