Jingdong And Tencent Invest In Cash And Exclusive Resources.

According to the terms of the agreement, Jingdong and Tencent will be granted cash and exclusive funds under the terms of the agreement. Jingdong will invest a total of about $1 billion 150 million in the form of new shares issued for common stock, including $400 million in cash and an exclusive resource of about $750 million. Electronic business platform The new and used car channels, as well as other support for the core business platform.

At the same time, Tencent will also invest $150 million in cash in the form of new shares issued for common cars. The new common stock issue price is $73.31 per share, or $73.31 per American Depositary Receipt (representing a common stock per American depositary receipt). The subscription price is based on the average daily closing price of the American depositary receipts on the 20 trading days before the signing of the agreement. In addition, Jingdong and Tencent will subscribe Yixin capital to new class a preferred shares with us $100 million and US $150 million respectively.

The transaction is expected to be completed in the first half of 2015. On the premise of satisfying the customary closing conditions, Jingdong and Tencent will hold 25% and 3.3% of the total issued shares of the fully diluted shares under the premise of the completion of the transaction. Jingdong will receive a seat on the board of the Yi Che board. At the same time, Jingdong and Tencent will hold 17.7% and 26.6% of Yixin capital respectively.

"As China Electronic Commerce Jingdong and Tencent are the ideal business partners of Yi car, and we are very honored to carry out deep cooperation with Jingdong and Tencent. Li Bin, chairman and CEO of Yi car, said.

"Next, we will actively increase investment to consolidate the leading position of the industry and continue to seize the market share. We are confident of the future business development of auto electric suppliers. Our goal has always been to provide a better car buying experience for Chinese new and used car buyers, and today's cooperation is a step closer to this goal.

Liu Qiangdong, founder and chief executive officer of Jingdong group, said:

"This landmark cooperation has not only consolidated the car in China. Electric business field The leader position will also provide convenience for Jingdong users. Cooperation with vertical industry leaders is our long-term strategy. Investment in easy car is a very important step for Jingdong to achieve this strategy. Through reliable strategic partners such as Yi Che and Tencent, we have further realized the vision of providing a high quality service for Chinese consumers as a one-stop platform.

Liu Chiping, President of Tencent Holdings Ltd, said:

"Through the abundant car business resources of Yi Che and Jingdong, with the huge user groups of Tencent, powerful data analysis capabilities and related automotive media resources, the three sides will join forces to create an efficient automotive e-commerce platform, and provide one-stop financial solutions for Chinese car buyers. We are very much looking forward to working with two companies to enhance our online and offline service capabilities and provide better services for our users. "