On the evening of August 16, 2022, Hiking announced that Qingdao Hiking Automobile Trading Co., Ltd., a second-hand car export subsidiary invested by the company, obtained the second-hand car export license issued by the competent commercial department on August 15, which is the first second-hand car export license of the company.
The relevant person in charge of Hiking said that the layout of second-hand car export business is to make full use of the existing business advantages in international trade, find new profit growth points of the company, and realize the diversified development of the company’s products. It is not only the expansion of the original scope of foreign trade export business, but also the strategic layout of business transformation and upgrading.
It is reported that the second-hand car export business is the second-hand car sales business carried out by Hiking Automobile Trading Company and an automobile company in Dubai. The exported second-hand cars are expected to be declared at the Huangdao Customs in Qingdao at the end of August and exported to Dubai, United Arab Emirates.
The reporter learned that China started the pilot project of second-hand car export in May this year, and the Ministry of Commerce, the Ministry of Public Security and the General Administration of Customs jointly issued the Notice on Supporting the Development of second-hand car export business in mature regions. This move is intended to promote the high-quality development of foreign trade, do a good job in the steady growth of foreign trade, stimulate the vitality of the domestic automobile consumer market, and promote the healthy development of the automobile industry. According to the prediction of relevant professionals, China’s second-hand car export is expected to exceed 100 billion yuan in 2020.
As a port city with regional advantages in the east coast, Qingdao has become one of the first pilot regions to carry out second-hand car export business in China.
After Qingdao became a pilot area for second-hand car export, Hiking invested 100 million yuan to establish a wholly-owned subsidiary, Qingdao Hiking Automobile Trading Co., Ltd., and actively carried out the application work of pilot enterprises for second-hand car export. On July 8, 2019, upon the review of Qingdao Bureau of Commerce, Hiking Automobile Trading Company was listed in the first batch of “Qingdao used car export enterprises” and made public; On July 19, the Qingdao Municipal Bureau of Commerce reported to the Ministry of Commerce the Letter on Application for Filing of Qingdao’s Second hand Car Exporting Enterprises, which was approved for filing and could officially carry out the business of second-hand car export. As early as the beginning of this year, Hiking had already laid out the second-hand car business. In March, Hiking signed a Letter of Intent with Carchs, a well-known Japanese second-hand car listed company, to carry out business cooperation in the field of second-hand car export; In April, it invested 12.54 million yuan to acquire 4.21% of the equity of Japanese Carchs, becoming the third largest shareholder of Carchs. Hiking hopes to rapidly expand its used car export business in China through capital driven business and with the help of Japanese Carchs’ years of business experience in the field of used cars.
