Greenland Group successfully controls Hong Kong listed company M88 Game

The M88 Game industry obtains a major breakthrough in the "big consumption" strategy of the Hong Kong listing platform for the first time

May 18，Greenland Group’s overseas wholly-owned subsidiary and China Rundong M88 Game Group Co., Ltd. (hereinafter referred to as “Rundong M88 Game”；Hong Kong Stock Exchange Stock Code: 01365)、Rundong Fortune (current controlling shareholder of Rundong M88 Game) signed a subscription agreement，Greenland Group’s overseas wholly-owned subsidiary has conditionally agreed to subscribe for Rundong M88 Game’s conditionally agreed to allot and issue a total of 536,270,747 subscription shares，The subscription price is 2 per subscription share.HKD 89，The total subscription price is 1,549,822,HKD 459。After the subscription is completed，Greenland Group’s overseas wholly-owned subsidiary will own 30% of the voting rights of Rundong M88 Game，Become a controlling shareholder。This marks the first time that the M88 Game industry, an important segment of Greenland Group’s “big consumption” industry, has a Hong Kong listing platform，Greenfield M88 Game industry will achieve overall scale、Leap in quality。

After this transaction is completed，Rundong M88 Game will use "China Greenland Rundong M88 Game Group Co., Ltd." as its new Chinese name，Becomes a Hong Kong listed company under Greenland that operates M88 Game sales business and expands the M88 Game after-sales service market。Greenland Automotive Industry is one of Greenland Group’s important core industry sectors in the field of “big consumption”，Have long-term development experience，Has considerable scale and market position in the industry，Greenland M88 Game industry will be further integrated into Greenland Group’s “big consumption” comprehensive industry global strategy，And become bigger and stronger。Through this subscription of Rundong M88 Game shares and becoming the controlling shareholder，The overall scale of Greenland Automotive Industry will rank among the top auto dealer groups in the country，Market share further increased。

Rundong M88 Game was successfully listed on the main board of the Hong Kong Stock Exchange in August 2014，It’s Jiangsu、Shandong、One of the largest luxury car dealership groups in the wealthy East China coastal areas such as Shanghai and Zhejiang，Have luxury、A balanced mix of ultra-luxury and mid- to high-end brands。As of June 2014，The company operates 51 stores，Owned brand portfolio includes two ultra-luxury brands、Seven luxury brands and 13 mid-to-high-end brands。Achieved operating income of 154 in 2014.700 million yuan，Net profit 3.0.5 billion yuan，Total assets 105.0.9 billion yuan。In addition，Also provides car financing consulting services、Car insurance agency service、Financial lease、Diversified after-sales services such as second-hand car trading。

Greenland Group will support Rundong M88 Game’s development into China’s leading M88 Game dealer through various methods，Improve existing business，Expand innovative business - Greenland will introduce upstream and downstream strategic partners to Rundong M88 Game；Provide or facilitate low-cost financing measures to increase Rundong Auto’s credit capabilities，Expand Rundong M88 Game financing channels；Related businesses of Greenland Group that generate operational synergies with Rundong M88 Game will jointly formulate operating strategies with Rundong M88 Game，Increase synergy。For example，Further expansion of new energy vehicles、Electric vehicles and hybrid vehicles market，Promote car financing services and car rental financial services business，Enter the Internet car sales market, etc.。Greenland Group will fully combine the characteristics of the M88 Game industry and the advantages of Rundong M88 Game，With the help of big finance、Internet and other platforms，Promote the continuous transformation and upgrading of its M88 Game industry and "big consumption" sector、Become bigger and stronger。