China Yongda Automobile Services Hldg : ANNOUNCEMENT IN RELATION TO THE ISSUE OF SUPER SHORT-TERM COMMERCIAL PAPERS IN THE PRC BY SHANGHAI YONGDA INVESTMENT HOLDINGS GROUP CO., LTD.*, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

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China Yongda Automobiles Services Holdings Limited

( 中國永達汽車服務控股有限公司 )

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03669) ANNOUNCEMENT IN RELATION TO THE ISSUE OF SUPER SHORT-TERM COMMERCIAL PAPERS IN THE PRC BY SHANGHAI YONGDA INVESTMENT HOLDINGS GROUP CO., LTD.*, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

This is a voluntary announcement made by China Yongda Automobiles Services Holdings Limited (the "Company", together with its subsidiaries, the "Group").

References are made to the announcements of the Company dated 9 March 2017, 11 April 2017 and 13 April 2017 (the "Announcements") in relation to the super short-term commercial papers (the

"Super Short-term Commercial Papers") with a maximum registered amount of RMB4.0 billion registered by 上海永達投資控股集團有限公司 (Shanghai Yongda Investment Holdings Group Co., Ltd.*), a wholly-owned subsidiary of the Company incorporated in the PRC (the "Issuer"), and the issue and completion of the first tranche of the Super Short-term Commercial Papers with an

issue size of RMB1.0 billion. Unless otherwise stated, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcements.

The Board is pleased to announce that the Issuer has resolved to issue the second tranche of the Super Short-term Commercial Papers with an issue size of RMB1.0 billion (the "Second Tranche Super Short-term Commercial Papers") with a term of 250 days. The interest rate of Second Tranche Super Short-term Commercial Papers is fixed and will be determined through centralized bookbuilding results. The principal amount together with interest of the Second Tranche Super Short-term Commercial Papers will be repaid in lump sum on the payment due date.

The Second Tranche Super Short-term Commercial Papers will be issued to domestic institutional investors in the PRC Inter-Bank Bond Market (other than those who are restricted from participating in such offering in accordance with the laws and regulations of the PRC). Bank of Communications Co., Ltd. ( 交通銀行股份有限公司 ) and Shanghai Pudong Development Bank Co., Ltd. ( 上海浦東發展銀行股份有限公司 ) are the lead underwriter and joint lead underwriter, respectively, for the issue of the Second Tranche Super Short-term Commercial Papers.

As assessed by 上海新世紀資信評估投資服務有限公司 (Shanghai Brilliance Credit Rating & Investors Service Co., Ltd.*), the Issuer has been given an AA rating.

The net proceeds from the issue of the Second Tranche Super Short-term Commercial Papers are intended to be used for repayment of debts of the Issuer and its subsidiaries.

The issue of the Super Short-term Commercial Papers will provide the Group with an additional source of funding at a reasonable financial costs for its operation and business development. The Board considers that the issue of the Second Tranche Super Short-term Commercial Papers is in the interest of the Company and Shareholders as a whole.

In accordance with the relevant laws and regulations in the PRC, relevant documents in relation to the Issuer and the Second Tranche Super Short-term Commercial Papers will be published on the websites of Shanghai Clearing House (http://www.shclearing.com) and China Foreign Exchange Trade System (www.chinamoney.com.cn). Shareholders and potential investors are reminded that such information/documents are prepared in accordance with the requirements in the PRC and are limited solely to the Issuer, and the information contained therein does not provide a full picture of the operation, condition (financial or otherwise) or future plan of the Group and should not be relied upon as the basis for any investment decision.

By order of the Board

China Yongda Automobiles Services Holdings Limited Cheung Tak On

Chairman

The PRC, 5 June 2017

As at the date of this announcement, the Board comprises (i) five executive directors, namely Mr. Cheung Tak On, Mr. Cai Yingjie, Mr. Wang Zhigao, Mr. Xu Yue and Ms. Chen Yi; (ii) one non-executive director, namely Mr. Wang Liqun; and (iii) three independent non-executive directors, namely Mr. Lyu Wei, Mr. Chen Xianglin and Ms. Zhu Anna Dezhen.

* For identification purpose only