Lentuo International Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2012. Revenues for the quarter ended December 31, 2012 decreased 15.4% to RMB 877.1 million from RMB 1.0 billion in the fourth quarter of 2011. Operating loss for the fourth quarter of 2012 was RMB 21.9 million compared to operating income of RMB 43.5 million for the same period in 2011. Net loss attributable to controlling interest was RMB 24.3 million for the fourth quarter of 2012 compared to net income of RMB 15.4 million for the same period in 2011. Basic and diluted loss per ordinary share were RMB 0.41 for the fourth quarter of 2012 compared to basic and diluted earnings per ordinary share of RMB 0.26 for the fourth quarter of 2011. This translates into basic and diluted loss per ADS of RMB 0.82 in the fourth quarter of 2012. Non-GAAP net loss, which excludes the impairment of certain intangible assets, was RMB 9.8 million for the fourth quarter of 2012, compared to net income of RMB 15.4 million in the fourth quarter of 2011. Non-GAAP basic and diluted loss per ordinary share, excluding the impairment of intangibles, was RMB 0.17 for the fourth quarter of 2012 compared to basic and diluted earnings per ordinary share of RMB 0.26 for the fourth quarter of 2011. This translates into basic and diluted loss per ADS of RMB 0.34 in the fourth quarter of 2012. Loss from continuing operations was $32.9 million or $0.41 per share against income from continuing operations of $14.6 million or $0.26 per share reported last year. Loss before income tax expenses was $33.6 million against income before income tax expenses of $22.0 million reported last year.

Revenues for the full year ended December 31, 2012 increased 7.5% to RMB 3.3 billion from RMB 3.0 billion for the full year 2011. Operating income decreased 64.5% to RMB 59 million from RMB 166.5 million for the year 2011. Net loss attributable to controlling interest was RMB 5.5 million during the year 2012, compared to net income of RMB 67.9 million in 2011. Basic and diluted loss per ordinary share was RMB 0.09 for the full year 2012 compared to basic and diluted earnings per ordinary share of RMB 1.15 for the full year 2011. This translates into basic and diluted loss per ADS of RMB 0.18 in 2012. Non-GAAP net income, which excludes the impairment of certain intangible assets, was RMB 9.0 million for the full year 2012, compared to RMB 67.9 million in 2011. Non-GAAP basic and diluted earnings per ordinary share, excluding the impairment of intangibles, were RMB 0.15 for the year 2012 compared to basic and diluted earnings per ordinary share of RMB 1.15 for the year 2011. This translates into basic and diluted earnings per ADS of RMB 0.30 for the year 2012. Loss from continuing operations was $18.2 million or $0.09 per share against income from continuing operations of $67.1 million or $1.15 per share reported last year. Loss before income tax expenses was $6.0 million against income before income tax expenses of $100.4 million reported last year.