China Bat Group, Inc. Enters into Strategic Cooperation Agreement with Liten Group Co., Ltd.
BEIJING, April 10, 2019 (GLOBE NEWSWIRE) -- China Bat Group, Inc. (Nasdaq: GLG) (the “Company”), an emerging used luxurious car rental service provider headquartered in Beijing, China, today announced that the Company, through its wholly owned subsidiary Beijing Tianxing Kunlun Technology Co., Limited, entered into a strategic cooperation agreement (the “Agreement”) with Liten Group Co., Ltd. (Liten Group), a private company specializing in high-end automobile retail and operation of its automobile theme park, Dream Factory.
Pursuant to the Agreement signed on April 10, 2019, both parties agreed to establish a comprehensive long-term strategic partnership in the fields of automobile sourcing channels, automobile finance and car rental.
As part of the Agreement, both parties expect to jointly use their own advantages to provide all-round business support to each other, and jointly promote the upgrade of the high-end car rental industry chain through business cooperation and innovation. The scope of cooperation covers, but is not limited to business communication, technical support, marketing and resource sharing. The Agreement is effective for 2 years.
Mr. Jiaxi Gao, CEO and President of China Bat Group, Inc., comments, “We are pleased to partner with the Liten Group in a long-term strategic relationship as we leverage our Batcar brand and digital platform to provide a unique experience for luxurious car rentals. The Liten Group has consistently been on the forefront of trends in the automotive industry as an established award-winning industry player and we believe Liten Group’s trust in us is a testament to our capabilities and an exciting privilege for us.”
About China Bat Group, Inc. China Bat Group, Inc. (Nasdaq: GLG) is an emerging used luxurious car rental service provider in China. The used luxurious car business is conducted under the brand name “BatCar” by the Company’s VIE entity, Tianxing Kunlun Technology Co. Ltd, from its headquarters in Beijing. Utilizing a streamlined, digital, transaction process, the Company endeavors to provide the best possible rental experience for its customers. For more information please visit https://www.imbatcar.com.
About Liten Group Co., Ltd. Established in 2002 with headquarters in Wenzhou, China, Liten Group Co., Ltd. (“Liten Group”) is a private company specializing in high-end automobile retail and operation of its automobile theme park, Dream Factory. Liten Group was ranked among the Top 100 auto dealerships in China in 2012 for the first time and was nominated in the Chinese “Auto Circulation 10 billion Dealer Group” in 2017. Liten Group also participates in various fields of investment in finance and environmental protection. Currently, the company has more than 20 wholly-owned or controlled subsidiaries with over 1,300 employees in China. For more information please visit http://liten.cn/index.aspx.
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of China Commercial Credit, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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