2009 Interim Result Presentation2009 Interim Result Presentation

Aug 26Aug 26thth, 2009, 2009

1

ContentContent

DFG 1H 2009 Business Overview andDFG 1H 2009 Financial Performance

Outlook of DFG and PRC Auto Industry in 2009

PRC Auto Industry 1H 2009 Overview

2

PRC Auto Industry 1H 2009 Overview

3

China Becomes the Largest Auto Market in the WorldChina Becomes the Largest Auto Market in the World

575.8

879.2938.1

609.9721.6 21.84%

6.70%

17.70%

25.32%

0100200300400500600700800900

1000

2005 2006 2007 2008 1H2009

0%

5%

10%

15%

20%

25%

30%

Total Sales Volume YOY Growth

4

Unit: 0’000

Structural Growth of PV SectorStructural Growth of PV Sector PV Market Share Rises in Mid-West RegionsPV Market Share Rises in Mid-West Regions

PV Market: Policy Stimulates Consumption ,PV Market: Policy Stimulates Consumption ,with Constant Release of Rigid Demandwith Constant Release of Rigid Demand

PV Registration Proportion by Region

266.8

324.4

93.55

60.57

102.7

161.59

96.79

225.69

21.59%

-5.75%

54.45%

39.67%

0

50

100

150

200

250

300

350

Sedan Sedan<1.6L Sedan1.6L<=2.5L Cross Over

-10%

0%

10%

20%

30%

40%

50%

60%

1H2008 1H2009 YOY Growth

63.28% 63.62% 61.57% 60.16% 56.32% 52.88%

32.75%31.43%29.23%29.51%39.67%36.39%

7.44%7.29%7.08%7.00%7.15%7.21%

0%

20%

40%

60%

80%

100%

2004 2005 2006 2007 2008 1/5/2009

Eastern Coastal Cities Central and Western Region Northeastern Region

5

Eastern Region: Beijing, Tianjin, Hebei, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian,

Guangdong, and Hainan

Northeastern Region: Liaoning, Jilin, Heilongjiang

Central and Western Region: Other Provinces in PRC Mainland

CV Sector Sees Signs of Recovery , MoM Decline NarrowsCV Sector Sees Signs of Recovery , MoM Decline Narrows

Unit:0’000Unit:0’000

Signs of Recovery in CV SectorSigns of Recovery in CV Sector

CV monthly Sales Volume LD-truck Sales Volume

LD-truck Sales Grows Steadily YoYLD-truck Sales Grows Steadily YoY

26.9

6.15 6.3 5.61 5.372.98 2.67 1.97

12.0212.53

22.02

33.74 32.2129.06

1.07

2.97

1.833.090.78

6.33

11.2716.28

14.67 12.93

0

5

10

15

20

25

30

35

40

2009.1 2009.2 2009.3 2009.4 2009.5 2009.6

CV HD-Truck MD-Truck LD-Truck

68.52

74.49

64666870727476

2008 1-6 2009 1-6

LD-Truck Sales Volume

Unit:0’000Unit:0’000

6

DFG 1H 2009 Business Overview & Financial Performance

7

Unit:0,000Unit:0,000Dongfeng Nissan PV Company Grows StronglyDongfeng Nissan PV Company Grows Strongly

Dongfeng Honda Still a Solid PerformerDongfeng Honda Still a Solid Performer

DFG PV Sector Outperforms the IndustryDFG PV Sector Outperforms the Industry

Unit: 0’000Unit: 0’000

DFG: PV Sector Outperforms the IndustryDFG: PV Sector Outperforms the Industry

300.3

36.7

359.8

45.1

0

100

200

300

400

PV Industry DFG PV2008 1-6 2009 1-6

19.8%23.03%

15.75

27.19

35.05

22.520.35 33.59%28.92%

41.30%

29.22%

05

10152025303540

2005 2006 2007 2008 1H2009

0%

10%

20%

30%

40%

50%

Dongfeng Nissan Annual Sales Volume YOY Growth

10.71%12.80%

18.00%19.29%

0%

5%

10%

15%

20%

25%

2006 2007 2008 1H2009

CRV Market Share

C-RV total sales volume exceeds

200,000 units, best seller in SUV segment

10.3

11.7

9.5

10

10.5

11

11.5

12

1H2008 1H2009DPCA Sales Volume

DPCA In the Course of RecoveryDPCA In the Course of Recovery

8

Unit: 0’000Unit: 0’000

DFG: CV Demand Rebounds, HDT Products Performs WellDFG: CV Demand Rebounds, HDT Products Performs Well

Unit:0,000Unit:0,000HDT Kinland Performs WellHDT Kinland Performs WellCCV Sales RecoversV Sales Recovers

Unit:0’000Unit:0’000 Unit:0’000Unit:0’000

0.99

2

3.66 3.53

2.93 2.91

0

0.5

1

1.5

2

2.5

3

3.5

4

2009.1 2009.2 2009.3 2009.4 2009.5 2009.6

DFG CV Monthly Sales Volume

2.2

4.01

1.7

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

2007 2008 1H2009

Kinland Sales Volume

9

74.5

131.2 131.2

42.2459.82

75.6358.6

94.571.6

111.7 95.88 105.65

85.84% 80.53%80.03%80.30%89.40%

59%

020406080

100120140

2004 2005 2006 2007 2008 1H2009

0%

20%

40%

60%

80%

100%

Production Capacity Prodution Utilization Rate

Constant Expansion and Optimization of Distribution NetworkConstant Expansion and Optimization of Distribution NetworkUtilization Rate Remains at a Comparatively High LevelUtilization Rate Remains at a Comparatively High Level

Utilization Rate Remains at a Higher LevelUtilization Rate Remains at a Higher LevelConstant Expansion and Optimization of Constant Expansion and Optimization of Distribution NetworkDistribution Network

Unit: 0’000Unit: 0’000

628

2066 2056

699

1219

2282 23222083 21861897

0500

1000150020002500

2005 2006 2007 2008 1H2009

CV Distribution Network PV Distribution Network

10

37896

39046

37000

37500

38000

38500

39000

39500

1H2008 1H2009Revenue

Sales Revenue Grows Steadily, Driven by Improved Product MixSales Revenue Grows Steadily, Driven by Improved Product Mix

Sales Revenue Grows Sales Revenue Grows

Unit: MN YuanUnit: MN Yuan

2464930200

0

10000

20000

30000

40000

1H2008 1H2009

Revenue of PV Segment

PV Sales RevenuePV Sales Revenue CV Sales RevenueCV Sales Revenue

12785

8482

0

2000

4000

6000

8000

10000

12000

14000

1H2008 1H2009

Revenue of CV Segment

Unit:: MN YuanUnit:: MN Yuan Unit: MN YuanUnit: MN Yuan

11

1220714288

1771321366

23583

15.80%17.60%

20.30%

20.70%

23.20%

0

5000

10000

15000

20000

25000

2005 2006 2007 2008 1H2009

10.0%12.0%14.0%16.0%18.0%20.0%22.0%24.0%

Shareholders` Equity ROE

4040

2606

16012081

3250(持续性净利润)

6.70%

5.5% 5.7%4.3%

3.8%

0

1000

2000

3000

4000

5000

2005 2006 2007 2008 1H2009

0.0%

2.0%

4.0%

6.0%

8.0%

Net Profit NP Margin

Constant Improvement of ProfitabilityConstant Improvement of Profitability

Gross Profit and Gross Margin13Gross Profit and Gross Margin13 EBIT and EBIT RateEBIT and EBIT Rate

Net Profit and NP Margin (Recurring)Net Profit and NP Margin (Recurring) ROEROE（（ RecurringRecurring）） ））

Unit: MN YuanUnit: MN Yuan Unit: MN YuanUnit: MN Yuan

Unit: MN YuanUnit: MN Yuan Unit: MN YuanUnit: MN Yuan

12

11881

69759815

82066096

17.90%16.8%16.5%

14.6%

17.0%

0

5000

10000

15000

2005 2006 2007 2008 1H2009

10.0%12.0%14.0%16.0%18.0%20.0%

Gross Profit Gross Profit Margin

5190

41313524

2670 3029

9%

7.4%

7.0%6.4% 6.3%

0

2000

4000

6000

2005 2006 2007 2008 1H2009

0.0%2.0%4.0%6.0%8.0%10.0%

EBIT EBIT Rate

Further Improvement of Financial Structure and Operating EfficiencyFurther Improvement of Financial Structure and Operating Efficiency

59.5%

59.6%

59.4%

59.5%

59.5%

59.5%

59.5%

59.5%

59.6%

59.6%

59.6%

59.6%

2008 1H2009

Assets-LiabilitiesRatio

13.2

24.6

0.0

5.0

10.0

15.0

20.0

25.0

30.0

2008 1H2009

EBIT Interest Coverage Ratio

26.4%

23.8%

22.5%

23.0%

23.5%

24.0%

24.5%

25.0%

25.5%

26.0%

26.5%

27.0%

2008 1H2009Debt to Capital Ratio

A Healthy Liability-to-Asset RatioA Healthy Liability-to-Asset Ratio EBIT Interest Coverage RatioEBIT Interest Coverage Ratio

Debt-to-Capital RatioDebt-to-Capital Ratio Accounts Receivable Turnover DaysAccounts Receivable Turnover Days

45

34

58

38

0

10

20

30

40

50

60

70

2008 1H2009

Receivables Turnover Days Inventory Turnover Days

13

Outlook of DFG and PRC Auto Industry in 2009

14

Break-out Demand in Mid-west Regions Break-out Demand in Mid-west Regions

945 1041 1135 1273 1490 1739 20522553

>3000

01000200030004000

2000 2001 2002 2003 2004 2005 2006 2007 2008

Per Capita GDP -China

575.8 621.6

879.2 938.1

>1100

0

200

400

600

800

1000

1200

2005 2006 2007 2008 2009E

Total Industry Sales Volume

0

200

400

600

800

1000

China America Japan Korea

Penetration Rate Per Thousand People in 2007

Outlook of PRC Auto Industry in 2009Outlook of PRC Auto Industry in 2009

Unit: 0’000Unit: 0’000

Unit: US$Unit: US$

Unit: Unit/ / Per Thousand PeopleUnit: Unit/ / Per Thousand People

Constant Increase of PRC Consumption AbilityConstant Increase of PRC Consumption Ability

Great Growth Potential for PV in ChinaGreat Growth Potential for PV in China Sales Volume Forecast for 2009Sales Volume Forecast for 2009

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

北京

天津

上海

广东

山东

江苏

浙江

河北

福建

广西

海南

湖北

湖南

安徽

江西

四川

内蒙

陕西

云南

重庆

新疆

甘肃

宁夏

青海

西藏

辽宁

吉林

黑龙江

1H09GDP增速 1-5月乘用车上牌数增速

Rapid growth in Mid-west

China

15

DFG First 7M Sales & Business Arrangement for 2009DFG First 7M Sales & Business Arrangement for 2009

New Sylphy

C-Quatre Sedan Hatchback 207 C5 Hatchback Elysee

PSA Peugeot Citroën

New CIVIC Spirior

1-7 2009 1-7 2008 YOY Growth

DFG 735,824 659,276 11.61%

PV 546,729 421,165 29.81%

CV 189,095 238,111 -20.59%

Dongfeng Nissan PV Company 278,157 185,178 50.21%

DPCA 137,546 114,781 19.83%

Dongfeng Honda Auto Company 108,640 98,247 10.58%

Dongfeng Own-brand PV 1,013 -- --

S30

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Q &A

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