Yip's Chemical increased its capital to 30 million yuan in Damark Automobile and increased its shareholding to 39% to further expand the automotive aftermarket

One of China's leading producers of
acetate solvents and one of China's leading chemical products manufacturers, Ye's Chemical Group Co., Ltd. (share number: 0408) ("Ye's Chemical" or "Group"), announced a further investment of RMB 30 million in the Chinese car maintenance chain, with its shareholding increased from 28% to 39%.
Chemical bought a 28% stake in D.C. Last year for Rmb21.52 million to support its development of a car chain business across the country. By the end of 2018, DDA had 56 stores across the country, covering Shandong, Jiangsu, Guangdong and Hunan, as well as
and
. At present, the average daily number of vehicles, unit prices and turnover of the shops as a whole have maintained an upward trend. With this capital increase, Denso will continue to make full efforts to lay a network of stores throughout the country, including in Dawan District, Guangdong Province, and is expected to have
,200 stores by the end of 2019.
2017, the company has gained industry attention for its "industrial vehicle" national chain model. From the talent chain management, operating system, logistics, to the scope of services, DDA vehicles are adhered to standardized operation to ensure price and quality. In addition to providing cost-effective car maintenance services, the standardized service model also ensures replicable store expansion. In addition to its own financial advantages, Ye's strategic investment in chemical industry can also be combined with the chain business model of Otsin and the Group's 27-year-old "Reshi" lubricants brand, to jointly provide consumers with professional, fast, cost-effective car maintenance service experience."Investing in Edgba is an important step in the Group's transition from asset-oriented to service- and end-user-oriented vehicles to create a new growth platform for the Group's business," said Mr. Ye Yip, Deputy Chief Executive Officer of
Ye's Chemical Company. This is an increase in investment to show the Group's confidence in the chain business model of Edgy Car and the future development of the post-car market. In the future, the Group will actively support Edgy Car to expand its store network throughout the country and explore new development opportunities. The Group will continue to implement the business philosophy of "environmental protection", "terminalization" and "service", on the one hand, to accelerate the optimization of the quality of its main business, on the other hand, to open up new business with good prospects, to the medium- and long-term vision of "100-year-old Leaf".
About Ye Chemical Group Limited (stock exchange listing code: 0408)
Ye's Chemical Group Limited ("Ye's Chemical" or "Group") was founded in 1971 and became a listed company in Hong Kong in 1991. The Group focuses on the production and sale of chemical products, including solvents, coatings, inks and lubricants, product distribution network covering major provinces and cities in China, for the main domestic acetate solvent manufacturers, coatings and ink manufacturers. In recent years, the Group has been committed to providing consumers with value-added services other than products, such as the development of car-for-oil maintenance chains.
Ye's paint brands include Bauhinia paint, camel paint, Aquapro, Hengchang industrial paint, Dachang resin, and the Group also produces Bauhinia inks and Reith automotive lubricants.
in order to achieve long-term sustainable development, the Group will continue to develop in the direction of green living and fully implement the development policies of "environmental protection", "terminalization" and "service".