BAIC Motor Corporation Limited provided earnings guidance for the first quarter ended 31 March 2020. The company announced that, based on the preliminary review of the management accounts of the Group for the three months ended 31 March 2020 by the Company, the net profit attributable to the equity holders of the Company for the three months ended 31 March 2020 is expected to decrease by approximately 95% as compared with the corresponding period in 2019. The Company believes that the decrease in the results was mainly due to the impacts of COVID-19 (the novel coronavirus pneumonia) outbreak on the overall automobile industry in China, which also had a relatively significant impact on the production and sales of the Group, and such decrease resulted in a significant decrease in sales volume of whole vehicles as compared with the corresponding period last year, leading to the decrease in profits of the Group. As of now, the production and operation of each base of the Group has gradually resumed to normal level, which will mitigate the pressure of decrease in profits of the Group.