China Harmony Auto Holding Limited provided earnings guidance for the six months ended June 30, 2022. For the period, due to the decrease in the fair value of equity interests in the FMC (BYTON) project, in which the Group invested, on a prudent basis, it is expected that a full provision will be made to its carrying value of approximately RMB 1,217.0 million, resulting in a net book loss for the Group of not more than RMB 920.0 million. Based on the assessment of the unaudited consolidated management accounts of the Group for the six months ended June 30, 2022, excluding the impact of the above non-recurring item for the Period, the Group's net profit is estimated to be not less than RMB 300.0 million, representing a year-on-year decrease of approximately 25%.

The Board considers that the Group has an overall sound financial position, adequate operating cash flows and healthy gearing ratio. The Group will continue to maintain a prudent and stable financial strategy.