The board of directors of the China ZhengTong Auto Services Holdings Limited announced that based on a preliminary review by the management of the company of the unaudited consolidated management accounts of the group for the year ended 31 December 2020 and the information currently available to the Board, it is expected that the Group would record a loss attributable to the shareholders of the company ranging from RMB 8 billion to RMB 9 billion for the year ended 31 December 2020 as compared to the profit attributable to the shareholders of the company of approximately RMB 664 million for the corresponding period in 2019.