Betterlife Hldg (06909.HK) announced on October 31, 2024, that Baide Lai Fu in Harbin (an indirect wholly-owned subsidiary of the company) entered into a leasing agreement for a Harbin 4S dealership with Harbin Longbao and Harbin Helida. On the same day, Xiamen Betterlife (an indirect wholly-owned subsidiary of the company) entered into a leasing agreement for a Xiamen 4S dealership with Xiamen Ouli Hang.
The Harbin 4S dealership is located at 9570 Zhongyuan Avenue, Songbei District, Harbin City, Heilongjiang Province, China, with a display area and workshop covering an area of 5,650.54 square meters, including supporting facilities. The Xiamen 4S dealership is located at 1067 Maqing Road, Haicang District, Xiamen City, Fujian Province, China, with a display area and workshop covering an area of 4,557.31 square meters, 50 parking spaces totaling 750 square meters, and supporting facilities.
The group aims to consolidate its position as a leading luxury and super luxury autos distribution service provider in China and seize opportunities in the auto market. The directors believe that the Harbin 4S dealership and the Xiamen 4S dealership are strategically located for the group to expand its distribution network in first and second-tier cities in China. The group is currently applying for authorization from relevant auto manufacturers to operate the Harbin 4S dealership in Harbin and the Xiamen 4S dealership in Xiamen. Therefore, leasing the Harbin 4S dealership and Xiamen 4S dealership aligns with the group's strategy to expand its auto distribution network and brand portfolio.
