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

3. 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

4. 2012 DFG Business Performance
DFG Sales Performance
2H underperformed 1H
Improved contribution of own brand business
HDT、MDT maintained to be industry leader

5. Steady expansion of production capacity
Utilization rate maintained at comparatively high level
Unit:
0,000
2012 midterm capacity
2012 year-end capacity
production
Utilization
rate
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. 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

7. 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%

8. 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

9. 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.

10. Sales DFG Business Outlook: DFG target New models PV CV ……
( unit:0,000）
2012 Sales
2013 Forecast
DFG
215.5 PV
174.1
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…… ……

11. Q&A