Mr. William Li to continue as
Bitauto chairman
BEIJING, Jan. 12, 2018 /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 announced the appointment of Bitauto's President
Mr. Andy Zhang to the position of
chief executive officer (CEO), effective immediately. Mr. Zhang
will remain in his current roles as chairman of the board of
directors and CEO of Bitauto's controlled subsidiary Yixin
Group Limited ("Yixin") (SEHK: 2858), a leading online
automobile retail transaction platform in China. Mr.
William Li will continue to serve as
chairman of Bitauto's board of directors.
Mr. William Li, chairman of
Bitauto said, "Since joining Bitauto in 2006, Andy has built an
outstanding track record in his roles as chief financial officer,
chief operating officer, and president, and has been core to our
success in building and expanding our offerings along China's online automotive value-chain. With
his industry expertise and execution capability, Andy is the best
candidate to carry out Bitauto's strategies for next-stage
growth."
"Moreover, as the chairman and CEO of Bitauto's subsidiary,
Yixin, Andy is ideally positioned to drive synergies between our
enhanced media and fast-growing transaction services businesses. I
look forward to continuing to work closely with Andy."
Mr. Andy Zhang, chief executive officer of Bitauto,
said, "I am honored to take responsibility as Bitauto's chief
executive officer. Under William's leadership, Bitauto has achieved
great success in building out a robust online media platform
serving automakers, dealers and car buyers in China. Through the recent launch of big data
and AI-enabled products, such as our upgraded dealer platform Easy
Partners, we are able to more efficiently connect China's over 200 million car owners and 5
million auto professionals.
"Going forward, we will work on deepening the synergetic
collaboration between Bitauto and Yixin to further enhance value
offered to our clients, users and investors. We will enable
crossover between Bitauto and Yixin user accounts, aggregate data
such as trends in automobile functionalities and transactions as
well as demographics and preferences of existing and potential car
owners, and allow automakers and
dealers to offer sales and marketing activities across multiple
Bitauto and Yixin channels. I am confident that these initiatives
will drive cost efficiencies and further enhance Bitauto and
Yixin's market competitiveness."
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 manages its businesses in three
segments: its advertising and subscription business, transaction
services business and digital marketing solutions business.
Bitauto's advertising and subscription business provides a
variety of advertising services mainly to automakers through
its Bitauto.com website as well as corresponding mobile
applications, which provide consumers with up-to-date automobile
pricing and promotional information, specifications, reviews and
consumer feedback. Bitauto also offers subscription
services via its SaaS platform, which provides web-based and
mobile-based integrated digital marketing solutions to automobile
dealers in China. The platform enables dealer subscribers to
create their own online showrooms, list pricing and promotional
information, provide 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 retail
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 and advertising.
For more information, please visit ir.bitauto.com.
For investor and media inquiries, please contact:
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
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SOURCE Bitauto Holdings Limited