Fengche has signed a cooperation agreement with China Automobile Dealer Group – Shangshe Auto. Both parties will work together, leveraging AI intelligent digital transaction capabilities, to engage in deep cooperation in scenarios such as dealer group vehicle trade-ins and scrapping transactions. Fengche will fully utilize its leading advantages in AI empowerment, digitalization, and nationwide online auction transactions, actively sharing with the dealer group its years of practical experience in the digital management, operation, marketing, transactions, and overseas expansion of used cars and scrapped vehicles. They aim to continuously deepen cooperation, create value, help Shangshe Auto achieve online, transparent, and value-maximized handling of used and scrapped cars, and assist the dealer group in generating greater business revenue and sustainable value. By leveraging AI and leading intelligent digital technologies, higher circulation efficiency and lower circulation costs will be achieved, realizing excellence and leadership!

About Shangshe Auto
Under the leadership of the Chongqing Municipal Committee, the Municipal Government, and the State-owned Assets Supervision and Administration Commission, Shangshe Group has developed over more than a decade into a business mainly focused on retail and wholesale, while also engaging in the development of multiple sectors including department stores, supermarkets, electronics, auto trade, chemical industry, import and export, agricultural supplies, and commercial real estate. Their business formats involve comprehensive shopping malls, chain supermarkets, convenience stores, and specialty stores. In 2010, Shangshe Group successfully listed its core business, with its listed company “Chongqing Department Store” (600729) ranking among the top in scale and efficiency among department store retailers in China. In 2011, the group achieved sales revenue exceeding 47.8 billion RMB and taxes and profits of 1.56 billion RMB. By the end of 2011, the group had total assets of 16.8 billion RMB, 325 outlets, and 97,000 employees.

Shangshe Group plans to take overall listing as a new starting point, adhere to the purpose of “Develop Shangshe, Serve Society,” focus on Chongqing, expand into western China, and eventually nationwide, aiming to build a modern Shangshe worth hundreds of billions, becoming the most competitive first-class commercial circulation enterprise in the upper Yangtze region. The group’s business covers Chongqing and other cities, mainly operating brands like Buick.

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 firms. With "intelligent digital technology" as its core advantage, Fengche provides professional digital trading services for car manufacturers, 4S dealer groups, and downstream car dealers. To date, Fengche has signed cooperation agreements with over 200 dealer groups, more than 20 car manufacturers, 1,500 disassembly and scrapping factories, and hundreds of thousands of used car buyers. Its nationwide transaction business covers over 200 cities, continuously creating value for upstream and downstream clients through unique digital technology.

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.

Quan Guo Pai 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, Quan Guo Pai’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"!