BAIC Motor Corporation Limited provided earning guidance for the Year Ended December 31, 2017. For the year, the company's net profit attributable to the equity holders of the company is expected to decrease by approximately 65% as compared with the corresponding period in 2016. The Company believes that the decrease in the results was mainly due to the intensifying competition in the PRC's passenger vehicle industry and the overall sluggish Korean vehicle market during the year of 2017, which resulted in the decline in the sales of Beijing Hyundai and Beijing Brand as well as the decrease in the results, and in turn led to the decrease in profits of the Group.