Fengche has signed a cooperation agreement with Dongfeng South Group. The two parties will carry out comprehensive cooperation in areas such as digitalized auction transactions for the Group's used and scrapped vehicles. Fengche will fully leverage its leading advantages in intelligent digitalization and online transaction services, actively sharing with Dongfeng South Group its years of practical experience in digital management, operation, marketing, and trading of used cars in China. Through deepening cooperation and creating value, Fengche aims to help the Group achieve digital, standardized, online, and process-oriented control of its used car replacement and scrapped vehicle businesses, facilitating further accelerated development of the Group’s automotive operations.

About Dongfeng South Group

Shenzhen Dongfeng South Industrial Group Co., Ltd. (hereinafter referred to as "Dongfeng South") traces its origins back to February 4, 1994. It currently controls or holds shares in 39 companies and has over 11,800 employees. In May 2024, Dongfeng South ranked ninth in sales on the "Top 100 Chinese Automobile Dealer Groups in 2024" released by the China Automobile Dealers Association. As a state-controlled enterprise under the central enterprise Dongfeng Motor Corporation, Dongfeng South has forged ahead in the turbulent currents of the times, gradually forming four major business sectors: automobile marketing platform, automotive aftermarket platform, digital intelligence technology platform, and investment management platform. It is a prominent group enterprise in China’s automotive industry in terms of both scale and efficiency. The automobile marketing business sector is Dongfeng South's core business. With outstanding products and services, it comprehensively develops a credit system, using its own good credit to establish the brand image of a "trustworthy central enterprise."

As of the end of May 2024, the automotive marketing business segment has 193 dedicated car dealerships, distributed across 60 cities nationwide, representing well-known car brands such as Dongfeng Nissan, Venucia, Infiniti, Dongfeng Fengshen, Dongfeng Citro?n, and Dongfeng Peugeot, and has earned the trust of over 2.5 million new car users to date. The automotive aftermarket business segment, based on service patterns, is committed to building a full lifecycle service system for automobiles. Starting from new car sales, it develops and integrates capabilities across automotive finance, maintenance and repair, insurance agency, mobility services, business travel, used cars, automotive accessories, and car modification, providing customers with integrated and comprehensive services. Through a multi-dimensional product matrix, it aims to comprehensively enhance service value.

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!"