Fengche and Shandong Jingweidu Group, one of China’s top 100 dealer groups, recently officially signed a cooperation agreement. The two parties will carry out comprehensive cooperation in areas such as digital auctions for the group's used and scrapped cars. Fengche will fully leverage its leading advantages in intelligent digitalization and online transaction services, actively sharing with Jingweidu Group its years of practical experience in digital management, operations, marketing, and transactions of used cars in China. The cooperation will be continuously deepened to create value, helping Jingweidu Group achieve digital, standardized, online, and process-managed operations for its used car replacement and scrapped car businesses, thereby further accelerating the development of the group's automotive business.

About Jingwei Latitude Group

Longitude and Latitude Group was founded in 2002, with its headquarters located in Huaiyin District, Jinan, Shandong Province. After more than twenty years of development, Longitude and Latitude Group has become a group company integrating the sales and after-sales services of mainstream independent and new energy vehicle brands such as Changan Automobile, Changan Qiyuan, Changan Kaicheng, Deep Blue, and Avita. Its business covers cities and counties including Jinan, Dezhou, Liaocheng, Linyi, Dongying, Binzhou, Heze in Shandong Province, as well as Chongqing, Henan, and Hebei. As of December 31, 2023, the group owns more than 90 car 4S stores and automotive sales subsidiaries, employing over 1,600 staff. While consolidating its traditional car dealership and after-sales service business, the group has vigorously expanded into the automotive after-sales service market, with businesses covering used cars, parts supply, premium car care, auto finance, ride-hailing, and more, forming a comprehensive business chain that provides customers with full value chain and lifecycle management for their vehicle use. Confidence comes from honor, and quality comes from recognition. Since its establishment, the group has received honors such as 'Best Team Building Award,' 'Outstanding Group Contribution Award,' 'Service Operation Contribution Award,' 'Excellent Operation Benchmark Award,' and 'Customer Experience Excellence Award.' Chairman Li Liandong has personally been awarded titles such as 'Pioneer of Shandong Car Market Reform in 40 Years of Reform and Opening-up.'

Latitude and Longitude Group has always adhered to a professional, focused, and dedicated approach, establishing and operating advanced management according to modern enterprise standards. Since its founding, the group has united as one, advocating a spirit of honest and responsible follow-up services. By accumulating strengths and making impactful breakthroughs, it has gained customer satisfaction, market recognition, and social respect, while also providing a platform for all members of the group to achieve personal growth and realize their aspirations. While maintaining the company's reputation, quality, and service excellence, the group has never forgotten its social responsibility. In recent years, it has actively participated in social welfare activities such as poverty alleviation, disaster relief, and assisting the elderly and disabled, treating giving back to society and benefiting the community as an integral responsibility, establishing a positive corporate image and credibility. In the future, Latitude and Longitude Group will continue to uphold the corporate mission of 'creating material wealth for society and family happiness for employees,' implement the service philosophy of 'customer satisfaction is the baseline, customer delight is the standard,' and consistently strive to meet diverse customer needs, enhance customer value, and provide a perfect consumer experience. Based in Shandong and looking nationwide, the group aims to make greater contributions to the healthy development of China's automotive industry!

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!"