(Yicai Global) Nov. 10 -- Chinese car transaction platform Huasheng Haoche and Minsheng Financial Leasing Co. yesterday signed a CNY1-billion (USD150-million) deal to scale up their presence in new car sales and auto finance, online news outlet PEDaily reported.

Beijing-based Huasheng Haoche was founded in May 2015. It is owned by Jiezhong Puhui International Financial Leasing Co. and provides an integrated service platform for new car sales. It mainly engages in providing a one-stop service from pre- to after-sales.

Minsheng Financial Leasing was founded in 2008 and is controlled by China Minsheng Banking Corp. Ltd. [SHA:600016;HKG:1988]. Its assets are valued at more than CNY180 billion (USD27.1 billion).

Huasheng Haoche has set up more than 200 direct-sales stores nationwide to complement its e-commerce site, mobile applications and WeChat services. To ensure maximum operating and delivery efficiency, the company set up its own warehousing logistics system, which includes 15 central warehouses in Chongqing, Lanzhou and other Chinese cities.

The support from Minsheng has broadened Huasheng Haoche's financial channels, cut its costs and upgraded its financial products, said Chen Pengyun, co-founder of the auto platform.