Bitauto Holdings Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue of RMB 2,170,632,000 as compared to RMB 1,403,378,000 for the same period last year. Income from operations was RMB 12,766,000 as compared to RMB 10,893,000 for the same period last year. Profit before tax was RMB 39,821,000 as compared to loss before tax of RMB 330,000 for the same period last year. Net loss attributable to the company was RMB 162,231,000 as compared to RMB 76,437,000 for the same period last year. Basic and diluted net loss per ADS, each representing one ordinary share, in the second quarter of 2017 amounted to RMB 2.34 and RMB2.35, respectively, taking into consideration the accretion to redeemable non-controlling interests amounting to RMB 91.9 million. Non-GAAP net income was RMB 225,358,000 as compared to RMB 133,213,000 for the same period last year. Non-GAAP income from operations was RMB 294,222,000 as compared to RMB 180,661,000 for the same period last year. Diluted non-GAAP net income per ADS was RMB 1.60 as compared to RMB 1.47 for the same period last year. Cash provided by operating activities was RMB 173.0 million. For the quarter revenue represents a 54.7% increase from the corresponding period last year. The increase in revenue was primarily attributable to the growth of the company's transaction services business and advertising and subscription business. Non-GAAP basic and diluted net income per ADS amounted to RMB 1.72 and RMB 1.6, and this number takes into consideration the accretion of redeemable noncontrolling interests amounting to a total of RMB 91.9 million in the second quarter.

For the six months, the company reported revenue of RMB 3,716,074,000, income from operations of RMB 1,870,000, profit before tax of RMB 49,023,000, net loss attributable to the company of RMB 279,602,000, non-GAAP net income of RMB 382,298,000, non-GAAP income from operations of RMB 517,318,000 and diluted non-GAAP net income per ADS of RMB 2.73.

The company currently expects to generate revenue in the range of RMB 2.17 billion to RMB 2.22 billion in the third quarter of 2017, representing a 42.3% to 45.6% increase from the corresponding period in 2016, or with direct vehicle sales being excluded, representing a 61.2% to 64.9% net revenue increase from the corresponding period in 2016. This forecast takes into consideration seasonality factors in Bitauto's business, and excludes any impact of foreign currency fluctuation. It reflects management's current and preliminary view, which is subject to change.