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 year ended December 31, 2017, we facilitated an aggregate of approximately 490 thousand automobile retail transactions and auto-related transactions, representing approximately 88% year on year increase.
For the year ended December 31, 2017, our financed automobile transactions increased by approximately 82% year on year to approximately 400 thousand, compared to over 220 thousand for the year ended December 31, 2016. Our accumulated financed automobile transactions reached over 630 thousand as at December 31, 2017.
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.