China's Biggest BMW Flagship Brand Store Settled at Yongda

HONG KONG, Aug. 8, 2013 /PRNewswire/ -- China Yongda Automobiles Services Holdings Limited("Yongda Auto" or the "Company" and, together with its subsidiaries, the "Group", stock code: 03669.HK), a leading passenger vehicle retailer and comprehensive service provider in China, announced that Yongda Auto has established the biggest BMW Flagship Brand Store at China, in the light of BMW international latest design concept and standards. Located at the downtown district in Shanghai Huaihai Road, this Shanghai Baozen Huangpu Store officially commenced operation, leading to a total of 24 official BMW stores under Yongda Auto, Shanghai Baozen Huangpu Store, the BMW Flagship Brand Store, will provide more customers with BMW high quality service as well as refreshing charms of "Joy of  BMW".

BMW has been reportedly growing rapidly in China in the recent years with a remarkable sales record in 2012 and a continuous strong growth at Mainland China in 2013. As at June 2013, sales volume under BMW and MINI reached 182,800 units, representing a growth of 15% as compared with the corresponding period last year. Among which, sales under BMW was amounted to 170,700 units. Yongda Auto, the leading specialized vehicle distributor for automobile, has been the long-term strategic partner with BMW. At present, BMW brand accounted for the highest proportion among the brands being distributed by Yongda Auto. The continuous growth of BMW sales record in China will directly boost new vehicle sales profits of Yongda Auto forward, injecting fresh vitality into its stock movement. Henceforth, Yongda Auto will continue to drive the business of after-sales services and pre-owned vehicles, automobile financing service and more, which are with high margins, for business development in the partnership with BMW.

Yongda Auto has built up an extensive network of distribution. Going onwards, the Group will further strengthen its leading position on the Eastern China region and proactively expand to major local cities with bright market prospects. In 2013, benefited from the macro economic rebound and strong domestic vehicle demand, the Group will set up stores to fulfill the needs for luxury and ultra-luxury vehicles and contribute to profit growth.

About China Yongda Automobiles Services Holdings Limited

Yongda Auto is a leading passenger vehicle retailer and comprehensive service provider in China focused on luxury and ultra-luxury brands. Yongda Auto has a strong brand portfolio of luxury and ultra-luxury brands including BMW, MINI, Audi, Porsche, Jaguar, Land Rover, Infiniti, Cadillac, Volvo and Bentley. It operates and has obtained manufacturer's authorizations to open a total of 106 outlets. Its network has a strong presence in East China, including Shanghai, and has expanded into other regions in China. In addition to new passenger vehicle sales business, Yongda Auto also provides customers with a comprehensive range of automobile-related services through its "one-stop shop" approach. These include after-sales services, automobile rental services, as well as a wide array of services that it offers in connection with pre-owned vehicles, automobile insurance products, and vehicle inspection etc.

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