AutoBeta(AutoBeta.net)05/15 Report--

On May 13, local time, Kaixin Automobile Group, a used car dealer group, made a low-key listing on NASDAQ with stock code KXIN. Kaixin Automobile Group became the second used car enterprise listed in the United States after Youxin.

Kaixin Automobile Group was established in 2015, formerly known as Renren Automobile, a wholly-owned company under Renren Company. Kaixin Automobile Group initially entered the used car industry with auto finance business, and entered into the used car retail business in 2017, focusing on high-end used car business.

Over the past four years, the Group's self-operated business has covered all 14 cities, with 20 stores and nearly 1,000 small and medium-sized second-hand dealers.

With the in-depth understanding of the used car industry in China, the capacity of used cars in China will be huge in the future. However, at present, the used car channels are scattered, nearly 80% of them are mom-and-pop stores, the single business scale is small, the price transparency is low, and the vehicle condition is unstable. Although many second-hand car companies such as melon seeds and Youxin have risen rapidly at this time, we still firmly believe that dealers are indispensable in the second-hand car trading process, and China's second-hand car industry has just begun. In 2018, Renren Automobile changed its name to Happy Automobile and officially entered the second-hand car retail. And through self-owned used car dealers. Apply big data technology to procurement. Pricing, marketing, managing systems and creating competitive advantage. Further consolidation of the market.

"Let buying a used car be as reassuring as selling a new car" is also the corporate vision of happy cars and a promise to the majority of used car users.

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