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Stock Market & Financial Investment News

News Breaks
August 15, 2014
06:04 EDTBITA, LASBitAuto and Lentuo International estabalish joint venture with UXIN
Bitauto (BITA) announced that it has entered into an agreement to establish a joint venture with Lentuo International (LAS) and Youxinpai (Beijing) Information Technology, a professional auto auction service provider in China. The JV will integrate the companies' nationwide resources into an online-to-offline platform focused on high-end used cars in China. The joint venture, which will originally be centered on Beijing and gradually expand to other cities, will integrate the resources of each partner to build the largest Online-to-Offline platform exclusively focused on high-end pre-owned cars in China. Lentuo will own 60% of the joint venture with Bitauto and UXIN each holding 20%.
News For BITA;LAS From The Last 14 Days
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October 14, 2014
07:04 EDTLASLentuo International announces update on dealership with BMW
Lentuo International announced that its BMW dealership in Gaobeidian, Hebei Province has been officially registered with the Gaobeidian Administration for Industry and Commerce. This will be the first premium dealership in Gaobeidian, allowing customers to purchase premium cars, and get them serviced, in Gaobeidian rather than travel to surrounding cities such as Baoding, Beijing and Shijiazhuang as they previously had to. The dealership, which should officially open during the Q3 of 2015, is expected to sell 250 new premium cars and contribute about RMB125M in revenue in 2015. The Company believes that the dealership will break-even by the end of 2015. Once stabilized, the dealership is expected to sell about 900 new premium cars and contribute over RMB400M in revenue annually.

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