1. 二零一一年度業績報告 2011 Annual Results March, 2012

2. Contents 2011 PRC Auto Industry Overview
2011 DFG Business and Finance Performance
Outlook of PRC Auto Industry and DFG

3. Highlights of PRC Auto Industry in 2011
Auto industry growth rate slowdown
Continued increase of spending power with obvious trend of individualized consumption
Faster growth of auto exports
Improved concentration of market share

4. DFG Growth Rate Outperformed Industry Average, Market Share Further Increased
Growth rate topped PRC leading manufacturers
PV、CV both outperformed the market
Steady increase of market share
HDT,MDT ranked industry No.1

5. Steady Capacity Expansion Plan , Utilization Rate Remained at High Level
DFNissan
DF Nissan PV Company significantly reduced negative impact from Japanese earthquake and managed to achieve a production of 814,000 units in 2011.
In 2012, total capacity of 240,000 units in its newly built second plant will complete construction and put to use.
DPCA
DPCA’s current utilization rate remains at a comparatively high level; 3rd plant is under construction.
DFHonda
Dongfeng Honda’s utilization rate exceeds 100%; 2nd plant will start operation in 1H 2012.
Unit:’0000
2011 Capacity
2011 Production
Utilization Rate
Sales
Output Ratio
Whole Vehicles
216
217
100.5%
217.3
100.1% CV 61
51.4
84.3%
52.6
102.3% PV
155
165.6
106.8%
164.6
99.4%
DF Nissan PV 59
81.4
138.0%
80.9
DPCA 46
40.6
88.3%
40.4
99.5%
DF Honda 24
25.4
105.8%
25.5
100.4%

6. Competitive edge enhanced with the support of a strong product mix
Continuously Improve Competitive Edge and Enrich Product Line-up
Competitive edge enhanced with the support of a strong product mix
Outstanding performance of high-end trucks, sales proportion keeps growing
NO.1

7. Sales Revenue further Increased, Profitability Maintained Stable
2011
2010
YOY
Revenue
7.4%
PV Revenue
949.21
881.43
7.7%
CV Revenue
354.72
334.18
6.1%
Gross profit
263.9
263.62
0.1%
EBIT
143.84
145.16
-0.9%
Net profit
104.81
109.81
-4.6%

8. Continuous Efforts in Improvement of Management & Cost Control Capability
Continuous efforts in controlling costs
and enhancing R&D capability
Profitability indicators maintained at good level

9. PRC Auto Industry: back to Rational Development, but still Room for Future Growth
PRC Auto Industry: Growth Story Continues......
Continued Increase of Consumer Spending Power
Auto Consumption Market Shifting
Comparatively Lower Penetration Rate
Strong PV Market Demand
Stable CV Demand
PRC auto industry will continue growth in the coming 5-10 years. Sales volume is expected to exceed 20 mn units in 2012.

10. DFG Business Outlook: Bigger and Stronger
12th Five-Year Plan Period: Bigger & Stronger
Steadily Expand Production Capacity
Continuously Optimize Distribution Network
Constantly Extend Product Lines
Constantly Improve R&D and Innovation Capability
Speed up Commercialization of New Energy Vehicles
DFG sets its sales target between 2.45mn to 2.5mn units in 2012, among which CV sales expects to reach 520,000 units, PV sales expects to reach 1.93mn – 1.98mn units