China Zhengtong Auto Services Hldg : EARLY REDEMPTION IN FULL OF THE BONDS

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.

中國正通汽車服務控股有限公司

(Incorporated under the laws of the Cayman Islands with limited liability)

References are made to the announcements of China ZhengTong Auto Services Holdings Limited (the "Company") dated 3 September 2013, 10 September 2013 and 16 September 2013 (the "Announcements") regarding the issue of US$335,000,000 4.5% credit enhanced bonds due 2018. Unless otherwise defined, terms used in this announcement shall have the same meanings as defined in the Announcements.

The Company announces that it is in the process of redeeming the Bonds in whole prior to maturity (the "Make Whole Redemption"). Pursuant to the terms and conditions of the Bonds, a make whole redemption notice (the "Make Whole Redemption Notice") has been issued to all the holders of the Bonds on 11 April 2017, pursuant to which the Company will redeem the Bonds in whole on 26 April 2017 (the "Make Whole Redemption Date"). The total outstanding principal amount of the Bonds subject to the Make Whole Redemption is US$335,000,000 and the Make Whole Redemption price in respect of the Bonds (the "Make Whole Redemption Price"), being the Make Whole Amount together with the interest accrued to and unpaid on the Make Whole Redemption Date, amounts to US$351,632,628.59. The Company has transferred the Make Whole Redemption Price in full to a reserve account and has instructed the account bank to transfer the Make Whole Redemption Price in full to the principal paying agent by no later than 10:00 am (Hong Kong time) on 25 April 2017.

Upon the completion of the Make Whole Redemption, the Bonds will be redeemed and there will be no outstanding Bonds in issue. Accordingly, the Bonds and the Standby Letter of Credit will be cancelled as soon as practicably after the Make Whole Redemption Date.

The Company is of the view that the Make Whole Redemption can help to optimize its debt structure as well as to effectively reduce its overseas financing costs.

The Company will apply to the Stock Exchange for the withdrawal of the listing of the Bonds upon the cancellation of the Bonds and the Standby Letter of Credit and will make further announcement as and when appropriate.

By order of the Board

中國正通汽車服務控股有限公司

Chairman

Hong Kong, 12 April 2017

As at the date of this announcement, the Board comprises Mr. WANG Muqing (Chairman), Mr. WANG Kunpeng, Mr. KOH Tee Choong, Ivan, Mr. LI Zhubo, Mr. WAN To, and Mr. SHAO Yong Jun as executive Directors; and Dr. WONG Tin Yau, Kelvin, Dr. CAO Tong and Ms. WONG Tan Tan as independent non-executive Directors.