Lentuo International Inc. announced that its joint venture with Bitauto Holdings Limited and Youxinpai (Beijing) Information Technology Co., Ltd. announced on August 15, 2014 has been officially registered with the Beijing Municipal Administration of Industry and Commerce. With operational planning having already begun, the JV will begin developing what is expected to be the Online-to-Offline platform exclusively dedicated to certified premium pre-owned cars in China. The JV is expected to contribute significantly to the premium cars and pre-owned cars businesses of the Company, two of its four strategic pillars.

It will initially be centered on Beijing, where sales of pre-owned cars, and particularly premium pre-owned cars, are growing much faster than sales of new cars, and it will gradually expand to other cities. With respect to the expansion outside Beijing, the recently announced BMW dealership in Gaobedian while contributing to geographic diversification, another strategic pillar of the Company, will eventually add to the volume of premium pre-owned cars for sale.