Fengche has signed a cooperation agreement with China's large car dealership group - Hongxu Group. The two parties will work together, leveraging AI-powered digital trading capabilities, to carry out deep cooperation in scenarios such as dealership group vehicle replacement and scrapping transactions. Fengche will fully utilize its advantages in AI-powered digitalization and national online auction transactions, actively sharing with the dealership group its years of practical experience in the digital management, operation, marketing, trading, and overseas expansion of used and scrapped cars in China. The goal is to continuously deepen cooperation, create value, help Hongxu Group realize online, transparent, and value-maximized used car business and vehicle scrapping processes, and assist the dealership group in generating greater business revenue and sustainable value. With AI and leading smart digital technologies, higher circulation efficiency and lower circulation costs will drive excellence and leadership!  

About Hongxu Group  
Founded in 1992, Hongxu Group is a company focused on comprehensive automotive services. Over the past 33 years, Hongxu Group has been dedicated to the development of the automotive sector, ranking among China's top 100 car dealership groups for 15 consecutive years and being honored as one of Wenzhou's top 20 enterprises for 14 consecutive years. As a market-oriented enterprise, Hongxu Group has continually expanded its scale and has become a widely recognized automotive service provider. Currently, the group operates nearly 60 4S stores and retail outlets across brands in Wenzhou, Rui'an, Yueqing, Cangnan, Taizhou, Lishui, and other areas. Upholding the business philosophy of 'Integrity is brand, satisfaction is efficiency,' Hongxu Group aims to be the most professional and trustworthy automotive service enterprise, offering comprehensive services including car selection, purchase, maintenance, repair, vehicle replacement, registration, insurance, financing, decoration, grooming, and annual inspections, committed to thoughtful customer service and fulfilling its solemn promise to realize employee value.  

Professional due to focus, reputable due to integrity, excellent due to surpassing expectations.  
The group operates in cities including Hangzhou, Jiujiang, Lishui, Quzhou, Shaoxing, Taizhou, and Wenzhou. Its main brands include Smart, Aion, Audi, Baojun, Mercedes-Benz, Honda, BYD, Buick, GAC Honda, JMC, Lantu, Lynk & Co, Wuling, Hyundai, Xiaomi, Zhiyi, among others.  

About Fengche  

Fengche (Shanghai) Information Technology Co., Ltd. (referred to as 'Fengche') is a professional digital trading platform service provider in China. It has received multiple rounds of strategic investment from NYSE-listed companies and Fortune 500 enterprises. Centered on 'smart digital technology,' it provides professional digital trading services for car manufacturers, 4S dealership groups, and downstream car trading channels. So far, Fengche has signed cooperation agreements with over 200 dealership groups, more than 20 car manufacturers, 1,500 dismantling and scrapping factories, and hundreds of thousands of used car buyers. Its nationwide trading business spans over 200 cities, creating continuous value for upstream and downstream clients through unique digital technologies.

Smart Used Cars is a standard business system aimed at dealer 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, as well as overseas marketing channels. It connects the entire used car industry chain for dealer groups, forming an integrated system covering used car business management collaboration, customer and sales management, business decision-making and intelligence, and transaction services. It works with 4S dealer groups and OEMs’ used car departments to establish standardized workflows and operation systems for used cars, continuously enhancing the digital operation capabilities and value of the used car business.

QuanGuoPai is FENGCHE’s nationwide cross-regional B2B trading platform. Upstream, it links dealer groups, manufacturers, and financial and insurance institutions’ used car sources; downstream, it connects used car dealers and buyers nationwide. Leveraging its leading digital capabilities and advantages, QuanGuoPai’s core mission is "to reduce circulation costs and improve circulation efficiency," creating value for the industry and customers.

Chuhai Cloud (CEA) is China’s auto cross-border e-commerce platform. Chuhai Cloud focuses on strong partnerships, leveraging each party’s strengths, integrating dealer groups and car source agencies, and expanding export channels. It connects domestic manufacturers and dealer groups with overseas channels and buyers online, helping Chinese cars create value in overseas circulation.

FENGCHE uses advanced digital and AI technologies to connect 25 domestic car manufacturers, 200 4S dealer groups, nearly 10,000 4S stores, and 200,000 used car dealers and buyers online. It fully improves efficiency, lowers costs, enhances effectiveness, connects upstream and downstream industry chains, maximizes value for all parties, and practices the mission of "making business simpler, making life better!”