Our company has established a joint venture with Carchs Holdings (“Carchs” for short), a well-known Japanese second-hand car listed company, to jointly expand the second-hand car business.
Since this year, Hiking, which specializes in foreign trade and real estate business, has started to try different business directions. In March, it invested 100 million yuan to set up a wholly-owned subsidiary, Hiking Automobile Trading Company. In May, the Ministry of Commerce announced that Qingdao was selected as one of the first pilot regions for second-hand car export in China. In August, Hiking Automobile Trading Company became one of the first batch of second-hand car export enterprises in Qingdao and was put on record by the Ministry of Commerce.
