The board of directors of the Company hereby informed the shareholders of China Yongda Automobiles Services Holdings Limited and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 December 2021 and information currently available to the Board, the Group is expected to record an increase of no less than 50% in the consolidated net profit attributable to the Shareholders of the Company for the Year as compared to that for the year ended 31 December 2020. The expected increase in the consolidated net profit attributable to the Shareholders of the Company as compared to that of the corresponding period in 2020 as mentioned above is mainly due to (i) an increase in the sales volume of new vehicles and the improvement in gross profit margin; (ii) the revenue from after-sales services increased rapidly; (iii) fast growth in pre-owned vehicles business.