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News Breaks
March 3, 2014
06:57 EDTSOHU, LASLentuo International enters partnership with Sohu Auto
Lentuo International (LAS) announced that it has signed an agreement with Sohu Auto, a business unit of (SOHU), to create a fully integrated online-to-offline platform for pre-owned cars in China. Sohu Auto will act as online marketing partner for this platform. The platform will expand Lentuo's ability to reach a larger group of car buyers and allow it to meet the demand from younger Chinese who increasingly shop for cars on the internet. Under the terms of the agreement, Lentuo will act as the exclusive after-sales service provider for pre-owned cars certified by Sohu as long as Lentuo meets Sohu's standards. On the physical side of the platform, Lentuo announced on February 18 that it will convert an existing new car showroom in South Beijing into an integrated pre-owned flagship store for mid-to-high end cars. The online side of the platform will leverage Sohu Auto's technological knowledge and IT resources to enhance the O2O platform and build big data analytical tools. The two parties plan to expand the platform to the rest of the country in the future.
News For LAS;SOHU From The Last 14 Days
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January 28, 2015
05:28 EDTLASLentuo International in strategic partnership discussions to enter EV market
Lentuo International announced that it has begun a strategic expansion into the electric vehicle and plug-in hybrid EV value-added services as an extension of its after sales business strategy. This expansion will hope to help the company accelerate growth, improve profitability and further strengthen its brand by leveraging its extensive industry experience to cooperate with internationally respected EV and PEV industry players. The company is in active discussions with a German company, that is a "highly experienced developer and manufacturer of automobile roof-integrated solar systems." Meanwhile, this company is already integrating its roof systems in smart EV charging stations in China. Lentuo believes that these discussions will lead to a strategic partnership agreement to enter the EV industry. And, the company will provide progress updates by way of press releases as appropriate.
January 22, 2015
05:35 EDTLASLentuo International announces management share repurchase
Lentuo International announced that members of its senior management team, including its Chairman Hetong Guo and CEO Jing Yang, will use their personal funds to purchase the company's American Depositary Shares on the open market for an aggregate amount up to a maximum of $1M as soon as possible within one month.
January 20, 2015
05:54 EDTLASLentuo International receives continued listing standard notice from NYSE
Lentuo International announced that on January 16, it received notice from NYSE that the company is no longer in compliance with the NYSE's continued listing standards because the average per share closing price of the company's American depositary shares for the consecutive 30 trading-day period ended on January 9 has fallen below the NYSE's share price requirements.

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