Contents 2012 PRC Auto Industry Overview 2012 DFG Business and Finance Performance DFG & PRC Auto Industry Outlook

2012 PRC Auto Industry Performance Chinese auto industry is entering a minimal growth period 2H 2012 saw obvious rebound PV outperformed CV SUV continued strong growth Auto export continued to grow, with significant increase of Sedan export proportion

2012 DFG Business Performance DFG Sales Performance 2H underperformed 1H Improved contribution of own brand business HDT、MDT maintained to be industry leader

Steady expansion of production capacity Utilization rate maintained at comparatively high level Unit: 0,000 2012 midterm capacity 2012 year-end capacity 2012 production Utilization rate 2012 sales Sales-output ratio Whole Vehicle 242 269 214.4 89.2% 215.5 100.5% CV 62 68 40.34 66.7% 41.5 102.9% PV 180 201 174.1 97.0% 100.0% DF Nissan PV 82 89 75.8 94.3% 77.3 102.0% DPCA 45 44.3 97.8% 44 99.3% DF Honda 27 34 28.5 104.5% 28.2 98.9% DF PV Co., 8 10 6.6 75.3% 6.02 91.2% Note: utilization rate = sales/mid-term capacity

6 PV models achieved over 100,000 unit sales in 2012 Continuous improvement of product mix; Robust sales of several major models 7 PV new models launched in 2012 6 PV models achieved over 100,000 unit sales in 2012 Feb New CRV Mar A 60 April Venucia May Ciimo June Elysion June New Sylphy Dec C4L

Proper measures taken to respond to emergency; Minimize negative impact on sales and earning Unit:￥100mn 2012 2011 YOY Sales Revenue 1240.4 1314.4 -5.6% PV 960.4 949.2 1.2% CV 268.3 354.7 -24.4% Gross profit 238.8 263.9 -9.5% EBIT 125.8 143.8 -12.5% Net profit 90.9 104.8 -13.3%

Continuous efforts to control cost Continuous efforts to enhance cost control capability, Profitability down but still sound Continuous efforts to control cost Profitability remained at good level

Positive impacts Negative impacts PRC auto industry: entering “ minimal growth” period Central Economic Working Conference further emphasized policies to expand domestic demand, promote investment and maintain stable growth. These are in favor of auto consumption growth Income Distribution Reform Scheme & Doubling Income Program were raised at the 18th CPC Central Committee, which would encourage auto consumption Positive impacts New Urbanization Policy will further promote auto consumption, esp. in tier 3, 4, 5 cities Replacement demand in tier 1, tier 2 cities will help with auto sales Auto export will maintain a fast growth momentum with improved quality of local brands Negative impacts Fuel price maintains at high price; Wide spread traffic congestion and purchase restriction ; Possible launch of “congestion fees”& “emission fees”; Possible change of industry policy due to severe air pollution PRC auto industry will continue to grow at 5-10% YoY. PRC auto sales is expected to reach 20.5mn – 21mn units in 2013.

Sales DFG Business Outlook: DFG target New models PV CV …… ( unit:0,000） 2012 Sales 2013 Forecast DFG 215.5 230-235 PV 174.1 190-194 DF Nissan 77.3 83 DF Liuqi MPV 13.7 13.5 DPCA 44 50 DF Honda 28.2 33 DF Fengshen 6.02 8 CV 41.5 40-42 Sales target New models Jan. 2013, 3008 Mar. 2013, New Teana More new models…… ……

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