Former automotive dealership giant has undergone a complete transformation into "tenant bosses": Currently, out of over 500 owned stores, only 30 are still in operation, mainly focusing on after-sales services.

On June 26, Red Star Capital Bureau learned from the board office of Guanghui Auto that the former distribution giant Guanghui Auto has completely transformed into a "landlord", with more than 500 owned land properties but only over 30 operating stores, primarily focusing on after-sales maintenance. Industry insiders told Red Star Capital Bureau that Guanghui Auto has basically withdrawn from new car sales business and shifted to property leasing management and stock after-sales operation. At its peak, Guanghui Auto had over 700 operating outlets nationwide, representing 57 brands such as BMW, Mercedes-Benz, Audi, and Buick.