Facing the huge automotive aftermarket, Shandong Meichen Science and Technology Co., Ltd., a traditional automotive parts enterprise, is actively exploring a road of transformation featuring “Internet + automotive aftermarket” and planing to turn into a mixed enterprise with “Internet + Industry + Finance” in three steps.

Meichen Science and Technology took its first step for transformation in June 2015 by establishing an E-business open platform for automotive aftermarket. It set up Meinengjie E-business Co., Ltd., a wholly-owned subsidiary, with the contribution of 50 Million Yuan to penetrate into automotive aftermarket filed, involving four fields of motor maintenance, rapid vehicle repair, automobile decoration and automobile buying and selling. For the second step, based on the existing manufacturing industry sector, Shandong Meichen Advanced Polymer Materials Science and Technology Co., Ltd. conducted research on new energy and new materials. For the third step, Meichen Science and Technology participated in Beijing Biz Online Technology Co., Ltd. by holding 20% of the shares so as to provide financial support for automotive aftermarket of Meichen Science and Technology.

It is reported that Meichen Science and Technology designs to build Meinengjie into a domestic-leading consumption platform for automobile spare parts industry with products directly pointing to product-need group in the future. Meanwhile, Meichen will also arrange its nationwide logistics network, business payment network and online financing to further integrate automobile spare parts industry in automotive aftermarket.