Yongda Yancheng Baozen 4S Store Officially Commences Operation

HONG KONG, July 11, 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 Yancheng Baozen Automotive Service Co., Ltd., under management of Yongda Auto, officially commenced operation, which marks the establishment of the first BMW-authorized dealership in this area. Yancheng Baozen 4S Store's opening also expand Yongda's network to further increase the total number of its BMW 4S stores and city exhibition halls to 23. Furthermore, the worldwide largest BMW flagship city exhibition hall -- Baozen Huaihai 4S store and Baozen Shenjiang 4S store that managed by Yongda Auto will also start operation in next month.

In recent years, BMW brand is undergoing a rapid growth in China. In 2012, BMW group achieved impressive sales results in China's mainland market, and is embracing continued significant growth this year. As of May 2013, BMW and MINI recorded a sales volume of 148,319 vehicles, representing a 9.8% increment comparing to the same period of last year (2012: 135, 026), among which BMW totally sold 138,624 automobiles, increased by 10.2% from same period of last year. As a China leading specialized automobile dealership group, Yongda Auto has formed with BMW a long-term strategy partner relation, and with BMW brand accountable for the highest proportion among the brands under Yongda's distribution network. The continuous sales growth realized by BMW in China will help promote Yongda Auto's new-car sales profit, and inject fresh vitality to its share price's movement. Going forward, Yongda Auto (3669.hk) will leverage the cooperation with BMW to further promote business segments that with higher profit margin such as after-sales, pre-owned vehicle and auto finance service businesses.

With a large scale dealership network, Yongda Auto will continuously sustain its leadership position in East China, actively seek expansion opportunities at major cities across the nation that with great development potentials. Looking into 2013, benefited from factors of macro economy recovery and strong demand at domestic automobile market, it is expected the newly added stores under Yongda will be contributing to meet the market demand for luxury and ultra-luxury automobiles, and provide driving force to Yongda Auto's future 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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