We are the leading online automobile retail transaction platform in China measured by the volume and the value of automobile retail transactions in 2016, according to the Frost & Sullivan Report. For the nine months ended September 30, 2017, we facilitated an aggregate of approximately 300,000 automobile retail transactions and auto-related transactions with an estimated aggregate value of these underlying automobiles reaching approximately RMB29 billion. As of September 30, 2017, we had, on a cumulative basis since our inception, approximately 500,000 managed automobiles, which are comprised of the number of automobiles for which we have provided loan facilitation services, financing lease services for consumers, operating lease services.
Our Business Model
Leveraging our online automobile retail transaction platform, we have developed an ecosystem, the participants of which comprise consumers, automakers, auto dealers, auto finance partners, and aftermarket service providers. This ecosystem facilitates transactions throughout consumers’ automobile transaction cycles and automobiles’ life cycles.
Our Business Segments
We operate our business in two segments by leveraging our online platform:
(i) transaction platform business, where we primarily facilitate automobile purchase transactions by consumers, facilitate auto loans to consumers offered by our auto finance partners and provide advertising and subscription services for automakers, auto dealers, auto finance partners and insurance companies; and
(ii) self-operated financing business, where we primarily provide consumers with auto finance solutions through financing leases and operating leases.