Fengche and one of China's top 100 dealership groups, Hunan Jiucheng Group, recently formally signed a cooperation agreement. The two parties will carry out comprehensive cooperation in areas such as digital auction transactions for the group's used cars and scrapped vehicles. Fengche will fully leverage its leading advantages in intelligent digitalization and online transaction services, actively sharing with Hunan Jiucheng Group its years of in-depth practical experience in digital management, operations, marketing, and transactions of used cars in China. The cooperation will be continuously deepened to create value, helping the group achieve digitalization, standardization, online processing, and procedural control of its used car and scrapped vehicle businesses, thereby accelerating the further development of the group's automotive business.

About The9 Group

Hunan Jiucheng Investment Group Co., Ltd. was established in 1998, with a registered capital of 30 million yuan (total registered capital of the group and its subsidiaries is 748 million yuan), and the legal representative is Xiao Jiucheng. The group mainly engages in car sales and services, car markets, automotive supplies, automotive finance, car leasing, used car markets, driving tests and training, scrapped car recycling and dismantling, general aviation, import and export of goods, advertising, etc. It is committed to becoming a comprehensive automotive service provider across the entire industry chain, offering customers high-quality travel services and experiences.

Through the long-term joint efforts of all Jiucheng people, Jiucheng Group has developed rapidly, achieving outstanding business performance and enjoying a high level of recognition and influence in society. From 2010 to 2021, the Group was consecutively awarded the title of Top 100 Chinese Automobile Dealer Groups for 12 years, with its ranking steadily improving. The Group currently has more than 1,800 employees and over 30 standard 4S dealerships spread across various cities and regions in Hunan. The brands it operates include Mercedes-Benz, Jaguar, Land Rover, Cadillac, Volvo, JEEP, GAC Toyota, GAC Honda, GAC Mitsubishi, Buick, Chevrolet, Beijing Hyundai, Dongfeng Yueda Kia, BYD, FAW-Volkswagen, Great Wall WEY, Great Wall Haval, Great Wall Ora, FAW-Volkswagen Jetta, and others. Jiucheng Group is continuously expanding its automotive sales regions and brands, achieving brand and market diversification, and continuously enhancing its sustainable development capabilities. Under the leadership of Chairman Xiao Jiucheng, the Group has been steadily expanding its enterprise territory. In 2011, Jiucheng Group collaborated with the General Aviation Research Center of Beihang University to enter the general aviation field. By 2014, Jiucheng General Aviation had obtained various operational qualifications in general aviation, and its aviation business was fully launched. In December 2018, the Jiucheng Driving Test and Training Center (Xiangtan Jiuhua), with a total investment of 360 million yuan, officially opened to the public and was awarded the Top 10 Civilized Driving Schools in Hunan for 2019. Furthermore, leveraging its overall advantages, the Group has entered fields such as driving tests and training and second-hand vehicles, successfully developing projects including Xiangtan Jiuhua Auto World, Xiangtan High-tech International Auto Logistics City, Hunan Lushan Jiucheng Auto Culture Industrial Park, Hunan Wangcheng Jiucheng International Auto Culture Park, Zhangjiajie Jiucheng Auto World, and Yongzhou Xiaoxiang Auto City.

The group's rapid development and standardized operations have earned it numerous social honors. Chairman Xiao Jiucheng was elected as a deputy to the 12th People's Congress of Hunan Province and a member of the Finance and Economics Committee in 2013, and in the same year was named one of the Top Ten Outstanding Economic Figures of Hunan. He also serves as Vice President of the Hunan Automobile Chamber of Commerce and Executive Vice President of the Xiangtan Chamber of Commerce in Changsha, among other positions. The group has repeatedly received awards such as Strategic Dealer, Best Investor, and Outstanding Dealer from brands including Cadillac, Guangben, Guangfeng, and Buick. It was recognized as the Best Partner Dealer Group by China Everbright Bank and received outstanding contribution and growth enterprise awards from the China Automobile Dealers Association. In 2015, it was honored with the Workers Pioneer title by the All-China Federation of Trade Unions. In 2016, 2018, and 2020, it was consecutively listed among the 'Top 100 Private Enterprises in Hunan,' and in 2018, it was awarded the 'Hunan Famous Brand' title. The group also received awards including National Excellent Dealer and Excellent General Manager from the Guangben brand; Cadillac National 5-Star Dealer, Excellent General Manager, and Special Contribution Award; and Best New Store Award and Excellent General Manager Award from Guangqi Toyota. 'Building a sustainable development enterprise and becoming an industry leader' is the driving force behind the group's continuous progress. All Jiucheng staff will uphold the corporate spirit of 'diligence and perseverance, integrity and pragmatism, innovation and efficiency, collaboration and inclusiveness,' enhance employee capabilities and qualities, further consolidate the management foundation, standardize various systems and processes, benchmark against outstanding industry enterprises, and truly realize the corporate mission of 'creating value for individuals and wealth for society.

About Fengche

Fengche (Shanghai) Information Technology Co., Ltd. (referred to as “Fengche”) is a professional digital transaction platform service provider in China. It has received multiple rounds of strategic investments from NYSE-listed companies and Fortune Global 500 companies. With "intelligent digital technology" as its core advantage, Fengche provides professional digital transaction service capabilities for automobile manufacturers, 4S dealership groups, and downstream car dealer channels.

Smart Used Cars is a standard business system designed for dealership groups and car source agencies. It covers used car ERP management systems, CRM customer management systems, online marketing systems, BI data analysis systems, financial systems, retail and wholesale channels, and overseas marketing channels. It connects the entire used car industry chain of dealership groups, forming an integrated system covering used car business management collaboration, customer and sales management, business decision-making and intelligence, and transaction services. It collaborates with 4S dealership groups and OEMs' used car departments to establish standardized processes and operational systems for used cars, continuously enhancing the digital operation capabilities and value of the used car business.

Quanguo Pai is Fengche's nationwide cross-regional B2B transaction platform. Upstream, it connects dealership groups, manufacturers, and financial and insurance institutions with used car sources; downstream, it connects used car dealers and buyers nationwide. Leveraging its advanced digital capabilities and advantages, Quanguo Pai’s core mission is "to lower circulation costs and improve circulation efficiency," creating value for the industry and clients.

Chuhai Yun (CEA) is China's cross-border e-commerce platform for automobile exports. Chuhai Yun is committed to strong collaboration, leveraging each party's strengths, integrating dealership groups and car source agencies, expanding export channels, and connecting domestic manufacturers and dealership groups with overseas channels and buyers online, helping Chinese automobiles create value in overseas circulation.

By leveraging advanced digital and AI technology, Fengche connects 25 domestic automobile manufacturers, 200 4S dealership groups, nearly 10,000 4S stores, and 200,000 used car dealers and buyers online, comprehensively improving efficiency, reducing costs, enhancing effectiveness, and connecting upstream and downstream industry chains to maximize value for all parties, practicing the mission of "making business simpler and life better!"