Profile: China Auto Logistics Inc (CALI.OQ)
27 Jul 2016
China Auto Logistics Inc., formerly Fresh Ideas Media, Inc., incorporated on February 22, 2005, is engaged in providing imported automobile sales and trading service, and a Web-based automobile sales and trading information platform to its customers. The Company operates through four segments: sales of automobiles, financing services, airport auto mall automotive services and other services. The Company's subsidiaries include Tianjin Binhai Shisheng Trading Group Co., Ltd., (Shisheng) Tianjin Hengjia Port Logistics Corp. (Hengjia), Tianjin Ganghui Information Technology Corp. (Ganghui), Tianjin Zhengji International Trading Corp. (Zhengji) and Tianjin Zhonghe Auto Sales Service Co., Ltd. (Zhonghe).
Sales of Automobiles
The Company conducts its sales operations of imported automobiles primarily through Shisheng and Zhonghe. The Company is a general agent and wholesaler authorized by the Chinese Government to import vehicles into the People's Republic of China (PRC). The Company sells its vehicles to authorized dealers, free traders or wholesalers located in inland China or non-port cities, and individual customers.
The Company's financing services include letter of credit issuance services, purchase deposit financing, and import duty advance services. The Company provides financing services to its customers using its facility lines of credit with a range of commercial banks in the PRC, including Agricultural Bank of China, China Merchants Bank, Pudong Development Bank, China Zheshang Bank, Industrial and Commercial Bank of China, China Minsheng Bank and Shengjing Bank. The Company earns a service fee for drawing its facility lines related to customers' purchases of automobiles and payment of taxes.
Airport Auto Mall Automotive Services
Zhonghe operates approximately two businesses, including selling used cars through Car King Tianjin, and leasing a portion of the Airport International Auto Mall. It leases a portion of the Airport International Auto Mall to Car King Tianjin to operate a used car business.
The Company's other services include revenue generated from Web-based Advertising. Its revenue from Web-based Advertising includes fees from displaying graphical advertisements on the Company Websites, and Web-based listing services that allow customers to place automobile related information on the Company's Websites.
China Auto Logistics Inc
Floor 1 FTZ International Auto M
86 Tianbao Avenue, Free Trade Zo
TIANJIN TNJ 300461