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Slide #50. China Auto Logistics — Tianjin Zhonghe Auto Sales Service Co.
China Auto Logistics (CALI)
Tianjin Zhonghe Auto Sales Service Co.
China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles, and a leading provider of auto-related services, reported today that on November 30, 2013, its subsidiary, Tianjin Binhai Shisheng Trading Group Co., Ltd. ("Shisheng") signed an equity transfer agreement with Hezhong International Development Co, Ltd. to acquire Tianjin Zhonghe Auto Sales Service Co., the owner and operator of the Airport International Automall in Tianjin (the "Automall"). The Company plans to develop the Automall into a key site for what it believes can become one of the largest used car businesses in China.
China Auto Logistics is a holding company. Through its subsidiaries, Co.'s principal businesses include sales of imported automobiles, which Co. act as a general agent and wholesaler; financing services related to imported automobiles, which include letter of credit issuance services, purchase deposit financing, and import duty advance services; and other services including automobile information websites and advertising services (www.at188.com and www.at160.com), logistics services related to the automobile importing process and other automobile services, such as assistance with customs clearance, storage and delivery services.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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