Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

BAOXIN AUTO GROUP LIMITED

寶 信 汽 車 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1293)

POSITIVE PROFIT ALERT

This announcement is made by Baoxin Auto Group Limited (the ''Company'', together with its subsidiaries, the ''Group'') pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors (the ''Board'') of the Company wishes to inform the shareholders and potential investors of the Company that based on a preliminary review of the currently available financial information and the consolidated management accounts of the Company, it is expected that the Group will record a substantial increase in consolidated profit for the year ended 31 December 2016, and the expected profit attributable to owners of the parent for the year ended 31 December 2016 will not be less than 180% of the same for the corresponding period of last year. The Board believes that the expected increase in profit attributable to owners of the parent is mainly attributable to (i) the stabilization and steady growth of the Group's business after the completion of the acquisition of the Company by

China Grand Automotive Services Co., Ltd. (廣匯汽車服務股份公司) (SSE Stock Code:

600297) (''CGA''), which indirectly holds approximately 75% of the issued share capital of the Company as at the date of this announcement; (ii) enhancing distribution network layout through creation of synergies and integrating resources with CGA; and (iii) further enhancing cost effectiveness by streamlining operation efficiency.

The information contained in this announcement is only a preliminary assessment by the management of the Company based on the consolidated management accounts of the Company and other information currently available to the Company, which has not been audited or reviewed by the Company's auditors. The Company is still in the process of preparing the consolidated financial statements of the Group for the year ended 31 December 2016. Details on the financial information for the year ended 31 December 2016 to be disclosed in the annual results announcement (which is expected to be published by the end of March 2017) of the Company shall prevail.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Baoxin Auto Group Limited Mr. Li Jianping

Chairman

The PRC, 17 January 2017

As at the date of this announcement, the executive Directors are Mr. LI Jianping, Mr. WANG Xinming, Mr. LU Ao and QI Junjie, the non-executive Directors are Mr. ZHOU Yu and Mr. LU Linkui, and the independent non-executive Directors are Mr. DIAO Jianshen, Mr. WANG Keyi and Mr. CHAN Wan Tsun Adrian Alan.

Baoxin Auto Group Limited published this content on 17 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 January 2017 13:51:01 UTC.

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