BEIJING, April 26, 2019 /PRNewswire/ -- Bitauto Holdings
Limited ("Bitauto" or the "Company") (NYSE: BITA), a leading
provider of internet content & marketing services, and
transaction services for China's
fast-growing automotive industry, today provides its clarification
on the recent news with respect to an entity named Beijing Yiche
Life Auto Chain Service Co., Ltd.
("Yiche Life")[1] According to the news, Yiche Life was imposed
an administrative warning by the People's Bank of China due to certain misconduct. Bitauto
clarifies that the Company is not affiliated or related with Yiche
Life, and intends to seek protection of its intellectual property
rights associated with Bitauto's name and brand through trademark
protection and anti-competition laws in the People's Republic
of China.
About Bitauto Holdings Limited
Bitauto Holdings Limited (NYSE: BITA) is a leading provider of
internet content & marketing services, and transaction services
for China's fast-growing
automotive industry. Bitauto's business consists of three segments:
advertising and subscription business, transaction services
business and digital marketing solutions business.
Bitauto's advertising and subscription business provides a
variety of advertising services to automakers through the
bitauto.com website and corresponding mobile apps. The website and
mobile apps provide consumers with up-to-date automobile pricing
and promotional information, specifications, reviews and consumer
feedback. Bitauto also provides transaction-focused online
advertisements and promotional services to its business partners
via Yixin's online platform for automakers, automobile dealers,
auto finance partners and insurance companies. Bitauto offers
subscription services via its SaaS platform, which provides
web-based and mobile-based integrated digital marketing solutions
to automobile dealers in China.
The SaaS platform enables automobile dealer subscribers to create
their own online showrooms, list pricing and promotional
information, provide automobile dealer contact information, place
advertisements and manage customer relationships to help them reach
a broad set of purchase-minded customers and effectively market
their automobiles to consumers online.
Bitauto's transaction services business is primarily conducted
by its controlled subsidiary, Yixin Group Limited (SEHK: 2858), a
leading online automobile finance transaction platform in
China, which provides transaction
platform services as well as self-operated financing services.
Bitauto's digital marketing solutions business provides
automakers with one-stop digital marketing solutions, including
website creation and maintenance, online public relations, online
marketing campaigns, advertising agent services, big data
applications and digital image creation.
For more information, please visit ir.bitauto.com.
For investor and media inquiries, please
contact:
China
Suki Li
Bitauto Holdings Limited
Phone: +86-10-6849-2145
ir@bitauto.com
Clarisse Pan
Foote Group
Phone: +86-10-8429-9544
bitauto@thefootegroup.com
[1] The English name is not official and is
translated based on the entity's Chinese name.
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SOURCE Bitauto Holdings Limited