China ZhengTong 2015 Annual Results Announcement Last updated March 2016

Disclaimer

These materials have been prepared by China ZhengTong Auto Services Holdings Limited(“ZhengTong Auto” or The “Company”, together with its subsidiaries, the “Group”) andexclusively have not been independently audited or verified. No representation orwarranty, expressed or implied, is made and no reliance should be placed on theaccuracy, fairness or completeness of the information, statements, opinions or estimatespresented or contained in these materials. The Company or any of its affiliates, advisersor representatives accepts no liability whatsoever for any loss howsoever arising from anyinformation, statements, opinions or estimates presented or contained in these materials.The information, statements , opinions or estimates presented or contained in thesematerials is subject to change without notice and its accuracy is not guaranteed.

These materials are highly confidential, are being given solely for your information and foryour use and may not be copied, reproduced or redistributed to any other person in anymanner. Neither these materials nor any copy hereof maybe, directly or indirectly, takenor distributed into the United States or to any U . S . person as defined in Regulation Sunder the U . S . Securities Act of 1933, as amended . You agree to keep the contents ofthis presentation and these materials confidential and such presentation and materialsform a part of the Confidential Information as defined in the confidentiality agreementyou might have previously executed.

Agenda

Performance Highlights

Business Development

Financial Review

Company Strategies

1

2

3

4

3-37

4-37

Performance Highlights

ZhengTong Auto(HKEX:1728) FY2015 Highlights

5-37

Full Fledging Platform and Scalable Business Model to Secure Growth and Profitability• RMB 29,361 million in total revenues with (5.0%) yoy growth• 88,455 retail vehicles sold with 2.4% yoy growth on luxury brands • 911,767 units serviced with 17.7% yoy volume growth on luxury brands• 17.1% yoy growth on gross profits from luxury brands after-sales services with

average 48.5% gross profits margin and 110bps margin expansion• DongZheng licensed auto financing business achieved RMB 1,918mm segment

assets and segment profits of RMB 18mm• RMB 424 mm commissions on extended services• RMB 619 mm net profits to common shareholdersLuxury Brands Focused Balanced National Net Work• A portfolio of 21 brands dominated by 6 leading luxury brands, including

BMW, Jaguar & Land Rover, Volvo, Audi, Mercedes, and Porsche• 112 outlets in 36 cities and 15 provinces across the country1

• 11 new stores were opened, including 4 BMW/MINI (incl. 1 Service Center) , 4Jaguar & Land Rover, 1 Volvo, 1 Audi and 1 Infiniti; 4 stores were closed, including 1 Lamborghini 4S store, 2 BMW urban showrooms and 1 Imported Volkswagen 4S store

1. As of December 31, 2015

Business Development

6-37

Business Development• In 2015 luxury auto market overall achieved single digital volume growth with a strong rebound towards the year

end, rationalized dealer-OEM relationship and prudent sales strategy leads to stabilized new car margin• After-sales services continued to expand dramatically especially at matured store level, gross profits on premium brands grew

by 17.1% yoy and gross profit margin climbed to 48.5% with 110bps expansion yoy• Extended services on commissions combined achieved RMB 424 mm, commissions from financing, insurance and user card

achieved around double-digit growth through better penetrations in spite of sluggish new car sales• Auto financing established quickly to achieve nearly RMB 2 billion lending by year end, compelling product offerings, rigorous

risk management, and unique cross-sell synergies within the Group and beyond shall help unlock full potential of DongZhengAuto Financing (DZAFC) in the very near future

7-37

New Cars After-sales Insurance Finance Used carsNew Cars After-sales Insurance Finance Used cars

Gross Profits Growth 2015Revenues Growth 2015

New Car Sales Business

68%

31%32%

87,892 88,455

(Unit)

Sales Volume

(RMB mm)

Revenues

(6.7%)

25,30227,130

8-37

Gross Profit Margin

• In 2015 China’s luxury auto sales trailed overall personal vehicle market but with divergence across leading brands

• The Company achieved record sales volume of 61,017 units on luxury brands alone with 2.4% growth with 12% yoy growth during 2H15

• Company continued to rationalize collaboration with OEM partners and implement prudent sales and expansion strategies

• Dealer’s new car margins started to stabilize on most luxury brands

After-sales Business

9-37

Gross Profit Margin

• In 2015, the Company serviced 911,767 units, including 651,590 units of luxury cars with 17.7% yoy growth

• Revenues grew by 6.2% yoy while gross profits by 8.9%• On luxury brands, revenues grew by 8.9% while gross

profits increased by 17.1%• After sales service margin peaked at 49.2% in 2H15 with

full year margin of 48.5% at 110bps margin expansion from 2014

• Same store growth even with mature stores • Economies of scale and cross platform synergies unlocked

great growth potentials even with matured stores having been operated with 3+ years

Throughputs

86% 88%

14% 12%

0

1,000

2,000

3,000

4,000

FY14 FY15

Luxury & Ultra-Luxury Middle-End

After-sales Revenue

6.2%

3,3763,180

(RMB mm)

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

FY14 FY15

Luxury & Ultra-luxury Middle-End

71%17.7%67%

29%33%

830,972911,767

Extended commissioned-based services

10-37

Auto Finance

, 40%

Pre-owned Cars,

7%

Others, 14%

Insurance, 39%

Extended S Breakdown

New Car, 29%

After Sales, 56%

Extended

services, 14%

Financial Services,

1%

2015 GP contribution

Extended

Service, 14%

After Sales, 49%

New Car, 37%

2014 GP contribution

• Extended businesses currently mainly include commissions from insurance brokerage, financing facilitation and pre-owned car businesses.

• Commissions on insurance increased by 11% despite increasing competition and already staggering penetration rate on new policies. Retention rate on renewal polices steadily grew to contribute not only commissions but also possible after sales services.

• Penetration rate on auto financing to benefit from favorable lending environment as well as change of customer purchase behavior

• On DZAFC, total asset of financial service business segment reached RMB1,918 million，6,278 auto units were financed throughout the year，Segment profit of financial service business was RMB18.25 million，3 default cases worth RMB 438K with a default rate of 0.025%

Automobile Financial Service Business Segment

(RMB mm)

11-37

Segment Net Profit

7.08

11.17

0

5

10

15

1H15 2H15

(RMB mm)

Gross Interest Income3

2.44

65.99

0

20

40

60

80

1H15 2H15

Retail Loan Contracts

1,116

5,171

01,0002,0003,0004,0005,0006,0007,000

1H15 2H15

(RMB bn)

Total Loan Balance

0.60

1.18

0.00

0.50

1.00

1.50

2.00

1H15 2H15

Auto Finance Market Size1

(RMB bn)

80 140 180

260 340

440

570

0100200300400500600700

2010 2011 2012 2013 2014 2015 2016

1. Data source: CBRC, and the data for 2015/2016 is estimated2. Data source: https://www2.deloitte.com/content/dam/Deloitte/cn/Documents/manufacturing/deloitte-cn-mfg-auto-finance-en-160129.pdf3. Gross interest income = interest income + commission fees

Auto Financing Penetration2

Network Advancement

Tier Cities Geographic Coverage Brands Breakdown

12-37

1. Total number of authorization for possible future store openings

Brands Type 2014 2015 Variance 2015 Pipeline1 Total

Luxury &Ultra-Luxury

4S Store 66 9 75 14 89Showroom 19 -2 17 17Service Center 3 1 4 4Pre-owned Car Center 1 1Quick Service 1 1 1

Mid-High End 4S Store 16 -1 15 15Total 105 7 112 15 127

Inner Mongolia：12 BMW ：3 MINI ：2 Nissan ：2 Imported Volkswagen ：1 Land Rover, Jaguar ：2 Porsche ：1 Infiniti ：1

Covered provincesCovered cities

Hubei：16 BMW ：6 MINI ：2 Buick ：2 Audi ：2 Nissan ：1 Beijing Hyundai ：1 Chevrolet ：1 FJ Benz ：1

Hunan：7

BMW ：3 MINI ：1 Land Rover, Jaguar ：2 Volvo ：1

Guangdong：44 Porsche ：1 BMW ：5 MINI ：3 Audi ：3 Volvo ：9 Land Rover, Jaguar ：9 Imported Volkswagen ：1 Benz ：2 Acura ：1 Infiniti ：1 Cadillac ：3 FAW Toyota ：2 FAW Volkswagen ：2 Ford ：1 Mazda ：1

Henan：2 Volvo ：2

Beijing：10 BMW ：4 Land Rover, Jaguar ：1 Volvo ：5

Shandong：2 Audi ：1 Land Rover, Jaguar ：1

Tianjin：1 Volvo ：1

Shanghai：4 Audi ：1 Nissan ：2 Dongfeng Honda ：1

Fujian：2 Land Rover, Jaguar ：1 Volvo ：1

Sichuan：1 BMW ：1

Balanced National Coverage

Zhejiang：1 Audi ：1

Jiangxi：8 BMW ：5 Audi : 1 Acura ：1 Land Rover, Jaguar ：1

Hainan：1 Land Rover, Jaguar ：1

Hebei：1 Land Rover, Jaguar ：1

24-37

14-37

Financial Review

For the year ended 31 December 2015

FY 2015 FY 2014 YoY(RMB million)

Revenue 29,361( 30,910) -5.00%

Gross profit 2,587( 2,726) -5.10%

Commission Income 424( 422) +0.6%

Selling, distribution & admin1 (5.99%) (5.14%) +85bps

Financing costs (1.57%) (1.55%) +2bps

Net profit margin (2.14%( (2.66%) -52bps

Profit to common shareholders 619( 804) -23.0%

Basic earnings per share (RMB cents) 28.0( 36.4) -23.1%

1. Selling, distribution & admin cost ratio adjusted before FX gain/loss: FY2015 (5.59%) vs. FY2014 (5.09%), increased by 50bps

15-37

Financial Highlights

For the year ended 31 December 2015

FA 2015 FA 2014 2H15

New Car GPM 3.3% 4.2% 3.4%

After Sales GPM 48.5% 47.4% 49.2%

GP Margin 8.8% 8.8% 8.4%EBITDA Margin 5.8% 6.3% 4.9% Operating Margin 4.6% 5.3% 3.7%Net Margin 2.1% 2.7% 1.8%

16-37

Profitability snapshots

1.3X1.1X 1.1X 1.0X

0.0

0.5

1.0

1.5

1H14 FY14 1H15 FY15*

Current ratio

Inventory Days(Days)

(Days)(Days)Receivable days Payable daysInventory days(Days)

17-37

1H14 FY14 1H15 FY15 1H14 FY14 1H15 FY15 1H14 FY14 1H15 FY15

Improved Financial Positions on dealer business

1. Net debt = ST debt + LT debt – Cash and equivalents – Pledged bank deposits2. *Impact of financial service business segment has been excluded from Group ratio

2.6X3.3X

3.7X 3.9X

0

1

2

3

4

5

1H14 FY14 1H15 FY15*

Interest Bearing Debt/EBITDA Net Debt/Equity 1

43.839.6

44.4 41.1

0

10

20

30

40

50

60

1H14 FY14 1H15 FY15*

( % )4.7X 56.6

Q & A