New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
October 22, 2012
06:08 EDTLASLentuo announces joint venture with Fortune Global 500 company based in Asia
Lentuo International announced that it has signed a joint venture, or JV, agreement with a Fortune Global 500 company based in Asia. The agreement will be effective upon government approval. Under the terms of the agreement, Lentuo and the JV Partner will jointly operate Beijing Lentuo Autong Automobile Trading Co. Ltd., or AT, to expand sales and services in the high-end car segment in China. The JV will focus on the expansion of AT's high-end 4S dealerships across China, starting with the new South Beijing Audi 4S dealership that the Company announced on July 23. The JV will scale up its higher margin repair and maintenance services. The JV Partner will invest RMB300M and take a 40% stake in the JV. With extensive experience in operating and investing in high-end car dealerships across Asia, the JV Partner will also act as a strategic investor to help strengthen AT's management and business operations over the long run.
News For LAS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
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.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use