[ET Net News Agency, 26 April 2021] China Fordoo Holdings Limited (02399) said its
subsidiary Honggao Technology has entered into a letter of intent with Zhejiang
Yichuidingyin Technology Co., Ltd, a wholly-owned subsidiary of Alibaba (China) Internet
Technology Co., Ltd.
Alibaba Auction Platform will fully use its advantages in the fields of e-commerce,
finance, and big data, leveraging the resources of Changyou operation centre of Honggao
Technology in overseas port services, supply chain and delivery services. Both parties
will jointly establish a new retail business model for parallel imported cars that combine
online e-commerce trading platforms and offline imported car global procurement centres.
(RC)