Interim Report 2017 (Incorporated in the Cayman Islands with limited liability) (Stock Code : 0175)

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CONTENTS Corporate Information Independent Review Report Condensed Consolidated Income Statement Condensed Consolidated Statement of Comprehensive Income Condensed Consolidated Statement of Financial Position Condensed Consolidated Statement of Changes in Equity Condensed Consolidated Statement of Cash Flows Notes to the Unaudited Interim Financial Report Management Discussion and Analysis 2 3 4 5 6 8 9 10 31

CORPORATE INFORMATION Executive Directors: Mr. Li Shu Fu (Chairman) Mr. Yang Jian (Vice Chairman) Mr. Li Dong Hui, Daniel (Vice Chairman) Mr. Gui Sheng Yue (Chief Executive Officer) Mr. An Cong Hui Mr. Ang Siu Lun, Lawrence Ms. Wei Mei Non-executive Director: Mr. Carl Peter Edmund Moriz Forster Independent Non-executive Directors: Mr. Lee Cheuk Yin, Dannis Mr. Yeung Sau Hung, Alex Mr. An Qing Heng Mr. Wang Yang Audit Committee: Mr. Lee Cheuk Yin, Dannis (Committee s Chairman) Mr. Yeung Sau Hung, Alex Mr. An Qing Heng Mr. Wang Yang Remuneration Committee: Mr. Yeung Sau Hung, Alex (Committee s Chairman) Ms. Wei Mei Mr. Lee Cheuk Yin, Dannis Mr. Wang Yang Nomination Committee: Mr. Wang Yang (Committee s Chairman) Mr. Gui Sheng Yue Mr. Yeung Sau Hung, Alex Mr. Lee Cheuk Yin, Dannis Company Secretary: Mr. Cheung Chung Yan, David Auditor: Grant Thornton Hong Kong Limited Legal Advisor on Hong Kong Law: Sidley Austin Legal Advisor on Cayman Islands Law: Maples and Calder Principal Bankers in Hong Kong: Standard Chartered Bank (Hong Kong) Limited China CITIC Bank International Limited ING Bank N.A. Principal Bankers in the People s Republic of China: Bank of China Limited Industrial Bank Company Limited China Everbright Bank Company Limited Head Office and Principal Place of Business: Room 2301, 23rd Floor, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong Telephone: (852) 2598-3333 Facsimile: (852) 2598-3399 Email: general@geelyauto.com.hk Registered Office: P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands Hong Kong Share Registrars & Transfer Office: Union Registrars Limited Suites 3301-04, 33/F., Two Chinachem Exchange Square 338 King s Road, North Point, Hong Kong Investor & Media Relations: Prime International Consultants Limited Listing Information: The Stock Exchange of Hong Kong Limited Stock Code: 0175 Senior Notes: 5810 (GEELYAUTO N1910) Company s Website: http://www.geelyauto.com.hk 2 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

INDEPENDENT REVIEW REPORT To the Board of Directors of Geely Automobile Holdings Limited (incorporated in the Cayman Islands with limited liability) Introduction We have reviewed the interim financial report of Geely Automobile Holdings Limited (the Company ) and its subsidiaries (together the Group ) set out on pages 4 to 30 which comprises the condensed consolidated statement of financial position as at 30 June 2017 and the related condensed consolidated income statement, condensed consolidated statement of comprehensive income, condensed consolidated statement of changes in equity and condensed consolidated statement of cash flows for the six-month period then ended, and other explanatory notes. The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of an interim financial report to be in compliance with the relevant provisions thereof and Hong Kong Accounting Standard 34 Interim Financial Reporting issued by the Hong Kong Institute of Certified Public Accountants. The directors of the Company are responsible for the preparation and presentation of this interim financial report in accordance with Hong Kong Accounting Standard 34 Interim Financial Reporting. Our responsibility is to express a conclusion, based on our review, on this interim financial report and to report our conclusion solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Scope of Review We conducted our review in accordance with Hong Kong Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Hong Kong Institute of Certified Public Accountants. A review of interim financial report consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim financial report as at 30 June 2017 is not prepared, in all material respects, in accordance with Hong Kong Accounting Standard 34 Interim Financial Reporting. Grant Thornton Hong Kong Limited Certified Public Accountants Level 12 28 Hennessy Road Wanchai Hong Kong 16 August 2017 Chiu Wing Ning Practising Certificate No.: P04920 3

CONDENSED CONSOLIDATED INCOME STATEMENT Six months ended 30 June 2017 2016 Note (Unaudited) (Unaudited) Revenue 3 39,423,646 18,089,274 Cost of sales (31,869,514) (14,882,254) Gross profit 7,554,132 3,207,020 Other income 4 661,410 743,592 Distribution and selling expenses (1,737,487) (821,392) Administrative expenses, excluding share-based payments (1,180,592) (712,713) Share-based payments (14,023) (23,671) Finance costs, net 5(a) (9,266) (22,877) Share of results of associates 13,986 6,206 Share of results of joint ventures 21,598 (33,506) Profit before taxation 5 5,309,758 2,342,659 Taxation 6 (923,370) (412,771) Profit for the period 4,386,388 1,929,888 Attributable to: Equity holders of the Company 4,343,563 1,907,242 Non-controlling interests 42,825 22,646 4,386,388 1,929,888 Earnings per share Basic 8 RMB48.77 cents RMB21.67 cents Diluted 8 RMB47.68 cents RMB21.65 cents The notes on pages 10 to 30 are integral parts of this interim financial report. Details of dividends payable to equity holders of the Company are set out in note 7. 4 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) Profit for the period 4,386,388 1,929,888 Other comprehensive income (after tax of RMBNil) for the period: Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of financial statements of foreign operations 7,118 (42,759) Total comprehensive income for the period 4,393,506 1,887,129 Attributable to: Equity holders of the Company 4,350,626 1,864,830 Non-controlling interests 42,880 22,299 Total comprehensive income for the period 4,393,506 1,887,129 The notes on pages 10 to 30 are integral parts of this interim financial report. 5

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2017 30 June 2017 31 December 2016 Note (Unaudited) (Audited) Non-current assets Property, plant and equipment 9 11,688,970 10,650,313 Intangible assets 10 7,555,420 6,461,809 Land lease prepayments 1,982,774 2,002,895 Goodwill 6,916 6,916 Interests in associates 11 333,596 304,686 Interest in a joint venture 12 718,928 697,330 Available-for-sale financial assets 21,779 21,779 Deferred tax assets 161,645 188,107 22,470,028 20,333,835 Current assets Land lease prepayments 45,677 42,875 Inventories 13 5,089,141 3,065,807 Trade and other receivables 14 19,374,975 29,040,631 Income tax recoverable 6,586 14,891 Pledged bank deposits 13,406 39,304 Bank balances and cash 20,774,436 15,045,493 45,304,221 47,249,001 Current liabilities Trade and other payables 16 36,597,309 39,778,994 Bank borrowings 17 174,375 Income tax payable 615,339 676,830 37,212,648 40,630,199 Net current assets 8,091,573 6,618,802 Total assets less current liabilities 30,561,601 26,952,637 6 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) 30 June 2017 30 June 2017 31 December 2016 Note (Unaudited) (Audited) CAPITAL AND RESERVES Share capital 18 163,639 162,708 Reserves 27,861,228 24,274,519 Equity attributable to equity holders of the Company 28,024,867 24,437,227 Non-controlling interests 291,902 249,022 Total equity 28,316,769 24,686,249 Non-current liabilities Senior notes 15 2,018,890 2,068,316 Deferred tax liabilities 225,942 198,072 2,244,832 2,266,388 30,561,601 26,952,637 The notes on pages 10 to 30 are integral parts of this interim financial report. 7

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Attributable to equity holders of the Company Share capital Share premium Capital reserve Statutory reserve Translation reserve Share option reserve Accumulated profits Sub-total Non-controlling interests Total (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Balance at 1 January 2016 161,354 5,818,466 164,790 118,993 84,684 572,962 12,602,567 19,523,816 215,707 19,739,523 Profit for the period 1,907,242 1,907,242 22,646 1,929,888 Other comprehensive income: Exchange differences on translation of financial statements of foreign operations (42,412) (42,412) (347) (42,759) Total comprehensive income for the period (42,412) 1,907,242 1,864,830 22,299 1,887,129 Transactions with owners: Share issued under share option scheme 8 1,732 (436) 1,304 1,304 Disposal of subsidiaries (1,109) (1,109) Equity settled share-based payments 23,671 23,671 23,671 Transfer upon forfeiture of share options (22,619) 22,619 Final dividend declared and approved in respect of the previous year (note 7) (280,967) (280,967) (280,967) Total transactions with owners 8 1,732 616 (258,348) (255,992) (1,109) (257,101) Balance at 30 June 2016 161,362 5,820,198 164,790 118,993 42,272 573,578 14,251,461 21,132,654 236,897 21,369,551 Balance at 1 January 2017 162,708 6,212,325 164,790 170,420 (138,153) 478,714 17,386,423 24,437,227 249,022 24,686,249 Profit for the period 4,343,563 4,343,563 42,825 4,386,388 Other comprehensive income: Exchange differences on translation of financial statements of foreign operations 7,063 7,063 55 7,118 Total comprehensive income for the period 7,063 4,343,563 4,350,626 42,880 4,393,506 Transactions with owners: Share issued under share option scheme 931 262,933 (76,208) 187,656 187,656 Equity settled share-based payments 14,023 14,023 14,023 Transfer upon forfeiture of share options (273) 273 Final dividend declared and approved in respect of the previous year (note 7) (964,665) (964,665) (964,665) Total transactions with owners 931 262,933 (62,458) (964,392) (762,986) (762,986) Balance at 30 June 2017 163,639 6,475,258 164,790 170,420 (131,090) 416,256 20,765,594 28,024,867 291,902 28,316,769 The notes on pages 10 to 30 are integral parts of this interim financial report. 8 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) Cash flows from operating activities Profit before taxation 5,309,758 2,342,659 Adjustments for non-cash items 864,494 607,000 Operating profit before working capital changes 6,174,252 2,949,659 Net changes in working capital 2,891,954 930,977 Cash generated from operations 9,066,206 3,880,636 Income taxes paid (922,224) (443,370) Net cash generated from operating activities 8,143,982 3,437,266 Cash flows from investing activities Purchase of property, plant and equipment (876,223) (725,675) Addition of intangible assets (1,511,501) (1,007,439) Addition of land lease prepayments (6,666) Proceeds from disposal of property, plant and equipment 18,533 18,895 Proceeds from disposal of intangible assets 6,115 Change in pledged bank deposits 25,898 1,402 Net cash inflow on disposal of an associate 13,860 Net cash outflow on disposal of subsidiaries (1,991) Additional capital injection in an associate (27,592) Interest received 47,546 31,658 Net cash used in investing activities (2,310,030) (1,683,150) Cash flows from financing activities Proceeds from issuance of shares upon exercise of share options 187,656 1,304 Proceeds from bank borrowings 325,500 Repayment of bank borrowings (174,375) Interest paid (54,830) (52,370) Net cash (used in)/generated from financing activities (41,549) 274,434 Net increase in cash and cash equivalents 5,792,403 2,028,550 Cash and cash equivalents at the beginning of the period 15,045,493 9,166,926 Effect of foreign exchange rate changes (63,460) 29,592 Cash and cash equivalents at the end of the period, represented by bank balances and cash 20,774,436 11,225,068 The notes on pages 10 to 30 are integral parts of this interim financial report. 9

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT 1. Basis of Preparation The interim financial report (the Interim Financial Report ) has been prepared in accordance with the applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the SEHK ), including compliance with Hong Kong Accounting Standard ( HKAS ) 34 Interim Financial Reporting ( HKAS 34 ) issued by the Hong Kong Institute of Certified Public Accountants ( HKICPA ). It was authorised for issue on 16 August 2017. The Interim Financial Report is presented in thousands of Renminbi ( ), unless otherwise stated. The accounting policies and methods of computation used in the preparation of the Interim Financial Report are consistent with those used in the annual financial statements for the year ended 31 December 2016 except for the adoption of the new and amended Hong Kong Financial Reporting Standards ( HKFRSs ) as disclosed in note 2. The Interim Financial Report does not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Company and its subsidiaries (together referred to as the Group ) annual financial statements for the year ended 31 December 2016. 2. Adoption of New and Amended HKFRSs The HKICPA has issued several amendments to HKFRSs that are first effective for the current accounting period of the Group. The adoption of the amended HKFRSs had no material impact on how the results and financial position for the current and prior periods have been prepared and presented. In the current period, the HKICPA has issued the following new and amended HKFRSs but not yet effective which are relevant to the Group: HKFRS 9 Financial Instruments 1 HKFRS 15 Revenue from Contracts with Customers 1 HKFRS 16 Leases 2 Amendments to HKFRS 10 and HKAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 3 HK(IFRIC) Interpretation 22 Foreign Currency Transactions and Advance Consideration 1 1 Effective for annual periods beginning on or after 1 January 2018 2 Effective for annual periods beginning on or after 1 January 2019 3 Effective date not yet determined The Group has the following updates to the information provided in the last annual financial statements about the possible impacts of the new standards issued but not yet effective which may have a significant impact on the Group s consolidated financial statements. 10 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 2. Adoption of New and Amended HKFRSs (Continued) HKFRS 9 Financial Instruments ( HKFRS 9 ) HKFRS 9 will replace the current standard on accounting for financial instruments, HKAS 39 Financial Instruments: Recognition and Measurement ( HKAS 39 ). HKFRS 9 introduces new requirements for classification and measurement of financial assets, calculation of impairment of financial assets and hedge accounting. On the other hand, HKFRS 9 incorporates without substantive changes the requirements of HKAS 39 for recognition and derecognition of financial instruments and the classification of financial liabilities. The Group has decided not to adopt HKFRS 9 until it becomes mandatory on 1 January 2018. Expected impacts of the new requirements on the Group s consolidated financial statements are as follows: (a) Classification and measurement HKFRS 9 contains three principal classification categories for financial assets: measured at (1) amortised cost, (2) fair value through profit or loss ( FVTPL ), and (3) fair value through other comprehensive income ( FVTOCI ). For equity securities, the classification is FVTPL regardless of the entity s business model. The only exception is if the equity security is not held for trading and the entity irrevocably elects to designate that security as FVTOCI. If an equity security is designated as FVTOCI then only dividend income on that security will be recognised in profit or loss. Gains, losses and impairments on that security will be recognised in other comprehensive income without recycling. Based on the preliminary assessment, the Group expects that its financial assets currently measured at amortised cost will continue with their respective classification and measurements upon the adoption of HKFRS 9. With respect to the Group s financial assets currently classified as available-for-sale, these are investments in equity securities which the Group may classify as either FVTPL or irrevocably elect to designate as FVTOCI (without recycling) on transition to HKFRS 9. The Group has not yet decided whether it will irrevocably designate these investments as FVTOCI or classify them as FVTPL. Either classification would give rise to a change in accounting policy as the current accounting policy is to state the available-for-sale equity investments at cost until disposal or impairment, when gains or losses are recognised in profit or loss. This change in policy will impact the Group s net assets and total comprehensive income. The classification and measurement requirements for financial liabilities under HKFRS 9 are largely unchanged from HKAS 39, except that HKFRS 9 requires the fair value change of a financial liability designated at FVTPL that is attributable to changes of that financial liability s own credit risk to be recognised in other comprehensive income (without reclassification to profit or loss). The Group currently does not have any financial liabilities designated at FVTPL and therefore this new requirement may not have any impact on the Group on adoption of HKFRS 9. 11

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 2. Adoption of New and Amended HKFRSs (Continued) HKFRS 9 Financial Instruments ( HKFRS 9 ) (Continued) (b) Impairment The new impairment model in HKFRS 9 replaces the incurred loss model in HKAS 39 with an expected credit loss model. Under the expected credit loss model, it will no longer be necessary for a loss event to occur before an impairment loss is recognised. Instead, an entity is required to recognise and measure expected credit losses as either 12-month expected credit losses or lifetime expected credit losses, depending on the asset and the facts and circumstances. This new impairment model may result in an earlier recognition of credit losses on the Group s trade receivables and other financial assets. However, a more detailed analysis is required to determine the extent of the impact. The Group has not applied any new standard or interpretation that is not yet effective for the current accounting period. 3. Revenue and Segment Information The only operating segment of the Group is the production and sale of automobiles, automobile parts and related automobile components. The directors consider that the Group operates in a single business segment. No separate analysis of the reportable segment results by operating segment is necessary. Revenue represents the consideration received and receivable from sales, net of discounts, returns and valueadded taxes ( VAT ) or related sales taxes, of automobiles and automobile parts and components. 4. Other Income Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) Government grants and subsidies (note) 500,643 534,366 Gain on disposal of scrap materials 16,196 2,528 Gain on disposal of an associate (note 11) 1,192 Gain on disposal of subsidiaries 72 Net foreign exchange gain 89,181 143,886 Rental income 12,821 11,728 Sundry income 41,377 51,012 661,410 743,592 Note: Government grants and subsidies mainly related to cash subsidies in respect of operating and research and development activities from government which are either unconditional grants or grants with conditions having been satisfied. 12 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 5. Profit Before Taxation Profit before taxation has been arrived at after charging/(crediting): Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) (a) Finance income and costs Finance costs Effective interest expense on senior notes (note 15) 2,917 2,165 Coupon expense on senior notes 53,368 52,314 Interest on bank borrowings wholly repayable within five years 527 56 56,812 54,535 Finance income Bank and other interest income (47,546) (31,658) Net finance costs 9,266 22,877 (b) Staff costs (including directors emoluments) Salaries, wages and other benefits 1,788,690 1,168,951 Retirement benefit scheme contributions 117,789 81,329 Equity settled share-based payments 14,023 23,671 1,920,502 1,273,951 (c) Other items Cost of inventories 31,869,514 14,882,254 Depreciation 439,584 363,893 Net foreign exchange gain 89,181 143,886 Amortisation of land lease prepayments 23,985 18,695 Amortisation of intangible assets 411,775 292,064 Research and development costs 123,051 96,578 Net loss on disposal of property, plant and equipment 10,808 26,787 Impairment loss on interest in an associate 3,349 Unrealised loss on financial assets at fair value through profit or loss 187 13

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 6. Taxation Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) Current tax: The People s Republic of China ( PRC ) enterprise income tax 870,622 387,762 Overseas tax 897 6,038 Over-provision in prior years (2,481) (957) 869,038 392,843 Deferred tax 54,332 19,928 923,370 412,771 Hong Kong profits tax has not been provided as the Hong Kong incorporated companies within the Group had no estimated assessable profits in Hong Kong for the six months ended 30 June 2017 and 2016. The income tax provision of the Group in respect of its operations in the PRC has been calculated at the applicable tax rate on the estimated assessable profits for the period based on the existing legislation, interpretations and practises in respect thereof. The PRC enterprise income tax rate is 25% (six months ended 30 June 2016: 25%). Pursuant to the relevant laws and regulations in the PRC, certain PRC subsidiaries of the Group obtained the High and New Technology Enterprises qualification. Accordingly, they enjoyed a preferential income tax rate of 15% for the six months ended 30 June 2017 (six months ended 30 June 2016: 15%). The share of results of associates and joint ventures in the condensed consolidated income statement is after income taxes accrued in the appropriate income tax jurisdictions. Taxation arising in other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions. 14 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 7. Dividends During the current period, a final dividend for the year ended 31 December 2016 of HK$0.12 per share (six months ended 30 June 2016: HK$0.038 per share), amounting to approximately RMB964,665,000 (six months ended 30 June 2016: RMB280,967,000), has been declared and approved by the shareholders at the annual general meeting of the Company. The 2016 final dividend was paid in July 2017 and is reflected as a dividend payable in the Interim Financial Report. 8. Earnings Per Share (a) Basic earnings per share The calculation of the basic earnings per share for the period is based on the profit attributable to equity holders of the Company of RMB4,343,563,000 (six months ended 30 June 2016: RMB1,907,242,000) and the weighted average number of ordinary shares of 8,905,566,319 shares (2016: 8,802,127,148 shares), calculated as follows: Weighted average number of ordinary shares Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) Issued ordinary shares at 1 January 8,882,861,540 8,801,986,540 Effect of shares options exercised 22,704,779 140,608 Weighted average number of ordinary shares at 30 June 8,905,566,319 8,802,127,148 15

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 8. Earnings Per Share (Continued) (b) Diluted earnings per share The calculation of diluted earnings per share for the period is based on the profit attributable to equity holders of the Company of RMB4,343,563,000 (six months ended 30 June 2016: RMB1,907,242,000) and the weighted average number of ordinary shares of 9,110,706,420 shares (2016: 8,808,966,024 shares), calculated as follows: Weighted average number of ordinary shares (diluted) Six months ended 30 June 2017 2016 (Unaudited) (Unaudited) Weighted average number of ordinary shares (basic) at 30 June 8,905,566,319 8,802,127,148 Effect of deemed issue of shares under the Company s share option scheme 205,140,101 6,838,876 Weighted average number of ordinary shares (diluted) at 30 June 9,110,706,420 8,808,966,024 9. Property, Plant and Equipment During the period, the Group acquired property, plant and equipment of approximately RMB1,507,582,000 (six months ended 30 June 2016: RMB1,219,437,000). Property, plant and equipment with net book value of approximately RMB29,341,000 (six months ended 30 June 2016: RMB45,682,000) were disposed of during the period, resulting in net loss on disposal of approximately RMB10,808,000 (six months ended 30 June 2016: RMB26,787,000). 10. Intangible Assets During the period, additions to intangible assets by acquisition and capitalisation in respect of development costs amounted to approximately RMB1,511,501,000 (six months ended 30 June 2016: RMB1,007,439,000). Intangible assets with net book value of approximately RMB6,115,000 (six months ended 30 June 2016: RMBNil) were disposed of during the period, no gain or loss on disposal was resulted. 16 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 11. Interests in Associates 30 June 2017 31 December 2016 (Unaudited) (Audited) Share of net assets 336,945 308,035 Goodwill 663 663 Impairment loss recognised (4,012) (4,012) 333,596 304,686 In January 2017, the Group disposed of its entire interests in Ningbo DIPO Traffic Facilities Co., Ltd # ( Ningbo DIPO ) to an independent third party at a cash consideration of approximately RMB13,860,000. The carrying amount of the Group s interests in Ningbo DIPO at the disposal date was RMB12,668,000 and a gain on disposal of RMB1,192,000 was recognised in Other income in the condensed consolidated income statement. In January 2017, Closed Joint Stock Company BELGEE ( BELGEE ) effected an increase in registered capital whereby the Group and other investors injected additional capital to BELGEE amounting to Belarusian Ruble ( BYN ) 7,753,000 (equivalent to approximately RMB27,592,000) and BYN15,690,000 (equivalent to approximately RMB55,842,000), respectively. Upon the completion of the capital increase, the registered capital of BELGEE changed from BYN60,023,000 (equivalent to approximately RMB262,239,000) to BYN83,466,000 (equivalent to approximately RMB345,673,000). As a result of such increase in registered capital, the Group s equity interests in BELGEE were diluted from 35.6% to 33.36%. Despite the dilution in the equity interests, the Group is still able to exert significant influence over the financial and operating activities of BELGEE. Accordingly, the Group continues to account for such investment as an associate. # The English translation of the name of the company established in the PRC is for reference only. The official name of this company is in Chinese. 12. Interest in a Joint Venture 30 June 2017 31 December 2016 (Unaudited) (Audited) Share of net assets 718,928 697,330 13. Inventories 30 June 2017 31 December 2016 (Unaudited) (Audited) Raw materials 1,271,364 790,037 Work in progress 550,252 340,130 Finished goods 3,267,525 1,935,640 5,089,141 3,065,807 17

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 14. Trade and Other Receivables 30 June 2017 31 December 2016 Note (Unaudited) (Audited) Trade and notes receivables Trade receivables Third parties 735,976 794,960 Associates 14,982 247,904 Related companies controlled by the substantial shareholder of the Company 944,929 194,496 (a) 1,695,887 1,237,360 Notes receivables (b) 12,568,159 24,864,054 14,264,046 26,101,414 Deposits, prepayment and other receivables Prepayment to suppliers Third parties 92,596 89,691 Related companies controlled by the substantial shareholder of the Company 1,516,761 376,129 1,609,357 465,820 Deposits paid for acquisition of property, plant and equipment 533,407 355,077 VAT and other taxes receivables 2,610,107 1,396,907 Utility deposits and other receivables 329,200 454,657 5,082,071 2,672,461 Amounts due from related companies controlled by the substantial shareholder of the Company (c) 28,858 27,345 Amount due from ultimate holding company (c) 236,256 Amount due from a joint venture (c) 3,155 5,110,929 2,939,217 19,374,975 29,040,631 18 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 14. Trade and Other Receivables (Continued) (a) Trade receivables The Group allows average credit periods ranged from 30 days to 90 days to its PRC customers. The following is an ageing analysis of the trade receivables of the PRC customers, based on invoice date, at the reporting date: 30 June 2017 31 December 2016 (Unaudited) (Audited) 0 60 days 1,015,820 441,619 61 90 days 15,953 30,417 Over 90 days 173,151 50,288 1,204,924 522,324 For overseas customers, the Group allows credit periods ranged from 30 days to 720 days. The following is an ageing analysis of the trade receivables of the overseas customers, based on invoice date, at the reporting date: 30 June 2017 31 December 2016 (Unaudited) (Audited) 0 60 days 112,976 295,659 61 90 days 13,881 25,726 91 365 days 77,401 237,934 Over 365 days 286,705 155,717 490,963 715,036 (b) (c) Notes receivables All notes receivables are denominated in RMB. 30 June 2017 and 31 December 2016, all notes receivables were guaranteed by established banks in the PRC and have maturities of less than six months from the reporting date. Amounts due from related companies/ultimate holding company/a joint venture The amounts due are unsecured, interest-free and repayable on demand. Except for trade and other receivables of RMB76,053,000 (31 December 2016: RMB146,263,000) which is expected to be recovered after one year from the reporting date, all other trade and other receivables are expected to be recovered or recognised as an expense within one year. 19

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 15. Senior Notes On 6 October 2014, the Company issued senior notes with an aggregate principal amount of USD300,000,000 (equivalent to approximately RMB1,836,750,000) (the Senior Notes ). The Senior Notes are listed on the SEHK. Details of the terms of the Senior Notes have been set out in the Group s annual financial statements for the year ended 31 December 2016. The movements of the Senior Notes for the period/year are set out below: 30 June 2017 (Unaudited) 31 December 2016 (Audited) Carrying amount At the beginning of the period/year 2,068,316 1,928,856 Exchange differences (52,343) 134,802 Interest expenses 2,917 4,658 At the end of the period/year 2,018,890 2,068,316 20 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 16. Trade and Other Payables 30 June 2017 31 December 2016 Note (Unaudited) (Audited) Trade and notes payables Trade payables Third parties 20,655,941 21,083,397 Associates 859,400 1,627,710 Related companies controlled by the substantial shareholder of the Company 572,025 330,157 (a) 22,087,366 23,041,264 Notes payables (b) 183,930 99,540 22,271,296 23,140,804 Other payables Receipts in advance from customers Third parties 6,077,537 7,909,709 Related companies controlled by the substantial shareholder of the Company 6,872 723 6,084,409 7,910,432 Deferred government grants which conditions have not been satisfied 1,899,697 1,572,863 Payables for acquisition of property, plant and equipment 1,335,501 714,524 Accrued staff salaries and benefits 382,570 514,534 VAT and other taxes payables 85,512 85,063 Dividends payable 964,819 Other accrued charges 2,150,769 1,950,900 12,903,277 12,748,316 Amounts due to related companies controlled by the substantial shareholder of the Company (c) 1,153,047 3,889,874 Amount due to ultimate holding company (c) 269,689 14,326,013 16,638,190 36,597,309 39,778,994 21

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 16. Trade and Other Payables (Continued) (a) Trade payables The following is an ageing analysis of trade payables, based on invoice date, at the reporting date: 30 June 2017 31 December 2016 (Unaudited) (Audited) 0 60 days 19,840,098 20,638,859 61 90 days 1,433,194 1,624,387 Over 90 days 814,074 778,018 22,087,366 23,041,264 Trade payables do not carry interest. The average credit period on purchase of goods is 60 days. (b) Notes payables All notes payables are denominated in RMB and are notes paid and/or payable to third parties for settlement of trade payables. 30 June 2017 and 31 December 2016, all notes payables have maturities of less than six months from the reporting date. 30 June 2017, the Group pledged bank deposits of RMB13,406,000 (31 December 2016: RMB39,304,000) to secure the notes payables. (c) Amounts due to related companies/ultimate holding company The amounts due are unsecured, interest-free and repayable on demand. All of the trade and other payables are expected to be settled or recognised as income within one year or are repayable on demand. 17. Bank Borrowings 30 June 2017 31 December 2016 (Unaudited) (Audited) Bank loans, unsecured 174,375 31 December 2016, the Group s bank borrowings were carried at amortised cost, repayable within three months and interest bearing at the London Interbank Offered rates plus 1% per annum. Also, there was a repayable on demand clause in the banking facilities. The bank loans were fully repaid during the current period. 22 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 18. Share Capital Number of shares Nominal value Authorised: Ordinary shares of HK$0.02 each At 31 December 2016 and 30 June 2017 12,000,000,000 246,720 Issued and fully paid: Ordinary shares of HK$0.02 each At 1 January 2016 8,801,986,540 161,354 Shares issued under share option scheme 80,875,000 1,354 At 31 December 2016 and 1 January 2017 8,882,861,540 162,708 Shares issued under share option scheme 51,720,000 931 At 30 June 2017 (unaudited) 8,934,581,540 163,639 19. Commitments Capital expenditure commitments At the reporting date, the Group had the following capital commitments: 30 June 2017 31 December 2016 (Unaudited) (Audited) Contracted but not provided for purchase of property, plant and equipment 2,048,983 2,281,468 Operating lease commitments as lessee At the reporting date, the total future minimum lease payments in respect of office and factory premises and other assets under non-cancellable operating leases are payable as follows: 30 June 2017 31 December 2016 (Unaudited) (Audited) Office and factory premises Within one year 3,969 5,516 In the second to fifth years inclusive 10,565 10,564 After five years 2,641 3,961 17,175 20,041 Leases are negotiated and rentals are fixed for an initial period of one to three years (31 December 2016: one to three years) with an option to renew the leases when all terms are renegotiated. 23

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 19. Commitments (Continued) Operating lease commitments as lessor At the reporting date, the total future minimum lease receipts in respect of leasehold land and buildings, motor vehicles and plant and machinery under non-cancellable operating leases are receivable as follows: 30 June 2017 31 December 2016 (Unaudited) (Audited) Leasehold land and buildings Within one year 8,755 7,101 In the second to fifth years inclusive 28,092 26,679 After five years 17,722 22,038 54,569 55,818 Motor vehicles and plant and machinery Within one year 6,811 4,001 In the second to fifth years inclusive 16,004 16,004 After five years 16,892 21,005 39,707 41,010 94,276 96,828 Leases are negotiated and rental are fixed for an initial period of one to fourteen years (31 December 2016: one to fourteen years). 20. Retirement Benefits Scheme The Group participates in MPF Scheme established under the Mandatory Provident Fund Ordinance in December 2000. The assets of the scheme are held separately from those of the Group in funds under the control of trustees. For members of the MPF Scheme, the Group contributes 5% of the employees relevant income to the scheme. Both the employer s and the employees contributions are subject to a maximum of monthly relevant income of HK$30,000 (equivalent to RMB24,000) per employee. Contributions to the plan vest immediately. The employees of the Company s subsidiaries in the PRC are members of a state-managed retirement benefit scheme operated by the government of the PRC. The subsidiaries are required to contribute a fixed percentage of the employees basic salary to the retirement benefit scheme to fund the benefit. The only obligation of the Group in respect of the retirement benefit scheme is to make the specified contributions. Contributions are made by the Company s subsidiaries in other overseas countries to defined contribution superannuation funds in accordance with the relevant laws and regulations in these countries., the aggregate employer s contributions made by the Group and charged to the condensed consolidated income statement amounted to RMB117,789,000 (six months ended 30 June 2016: RMB81,329,000). 24 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 21. Equity Settled Share-Based Payment Transactions The Company has operated a share option scheme for eligible participants of the Group. Details of the terms of the scheme have been set out in the Group s annual financial statements for the year ended 31 December 2016. 2017 (Unaudited) Exercisable period Exercise price per share HK$ Outstanding at 1 January Granted during the period Exercised during the period Forfeited during the period Outstanding at 30 June Directors 18 January 2010 to 17 January 2020 23 March 2012 to 22 March 2022 9 January 2016 to 8 January 2020 4.07 37,700,000 (200,000) 37,500,000 4.07 8,500,000 8,500,000 2.79 15,500,000 (750,000) 14,750,000 61,700,000 (950,000) 60,750,000 Employees 18 January 2010 to 17 January 2020 21 April 2010 to 20 April 2020 23 March 2012 to 22 March 2022 9 January 2016 to 8 January 2020 2 June 2016 to 1 June 2020 4.07 224,505,000 (46,315,000) (175,000) 178,015,000 4.07 11,780,000 11,780,000 4.07 7,250,000 (200,000) 7,050,000 2.79 14,400,000 (830,000) 13,570,000 4.08 1,000,000 1,000,000 258,935,000 (47,345,000) (175,000) 211,415,000 Other eligible participants 2 June 2016 to 1 June 2020 31 March 2018 to 30 March 2022 4.08 20,300,000 (3,425,000) 16,875,000 12.22 5,500,000 5,500,000 20,300,000 5,500,000 (3,425,000) 22,375,000 340,935,000 5,500,000 (51,720,000) (175,000) 294,540,000 25

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 21. Equity Settled Share-Based Payment Transactions (Continued) 2016 (Unaudited) Exercisable period Exercise price per share HK$ Outstanding at 1 January Granted during the period Exercised during the period Forfeited during the period Outstanding at 30 June Directors 18 January 2010 to 17 January 2020 23 March 2012 to 22 March 2022 9 January 2016 to 8 January 2020 4.07 57,500,000 57,500,000 4.07 5,000,000 5,000,000 2.79 16,000,000 16,000,000 78,500,000 78,500,000 Employees 18 January 2010 to 17 January 2020 21 April 2010 to 20 April 2020 23 March 2012 to 22 March 2022 25 June 2012 to 24 June 2022 17 January 2013 to 16 January 2023 9 January 2016 to 8 January 2020 2 June 2016 to 1 June 2020 4.07 284,760,000 (210,000) (3,520,000) 281,030,000 4.07 13,000,000 13,000,000 4.07 16,500,000 16,500,000 4.07 9,000,000 (9,000,000) 4.11 4,100,000 4,100,000 2.79 16,900,000 (250,000) (1,150,000) 15,500,000 4.08 1,000,000 1,000,000 345,260,000 (460,000) (13,670,000) 331,130,000 Other eligible participants 2 June 2016 to 1 June 2020 4.08 20,400,000 20,400,000 444,160,000 (460,000) (13,670,000) 430,030,000 26 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 21. Equity Settled Share-Based Payment Transactions (Continued) During the six months ended 30 June 2017, 5,500,000 options were granted on 31 March 2017 with estimated fair values of approximately RMB20,210,000. The closing price of the Company s shares on the date on which the options were granted was HK$11.9. The exercise price of the share options granted is HK$12.22 per share. None of the share options will be vested in the first year and one-fourth of share options granted will vest in every year after the first year of the grant date. The fair values were calculated using the Binomial Option Pricing Model. The inputs into the model were as follows: Exercise price HK$12.22 Expected volatility 44.17% Expected life 5 years Risk-free rate 1.37% Expected dividend yield 0.95% Expected volatility was determined by using historical volatility of the Company s share price, adjusted for any expected changes to future volatility based on publicly available information. The expected life used in the model has been adjusted, based on management s best estimate, for the effects of non-transferability, exercise restrictions and behavioural considerations. During the six months ended 30 June 2017, the Group recognised a total of RMB14,023,000 (six months ended 30 June 2016: RMB23,671,000) in relation to share options granted by the Company and the share-based payment expenses were shown as a separate line item on the face of the condensed consolidated income statement. 22. Material Related Party Transactions In addition to the transactions/information disclosed elsewhere in this Interim Financial Report, during the period, the Group had the following material transactions with related parties: Six months ended 30 June 2017 2016 Name of related parties Nature of transactions (Unaudited) (Unaudited) Related companies (notes (a) and (b)) Zhejiang Geely Automobile Company Limited # Zhejiang Haoqing Automobile Manufacturing Company Limited # Sales of complete knock down kits and sedan tool kits 13,846,546 10,292,435 Claims income on defective materials purchased 71,719 42,627 Purchase of complete build up units 14,107,084 10,529,239 Sub-contracting fee paid 31,188 14,723 Claims paid on defective materials sold 83,592 54,503 Sales of complete knock down kits and sedan tool kits 22,802,596 5,922,606 Claims income on defective materials purchased 56,888 38,815 Purchase of complete buildup units 24,211,266 6,090,630 Purchase of automobile parts and components 464 42,360 Sub-contracting fee paid 14,850 8,100 Claims paid on defective materials sold 68,329 49,174 27

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 22. Material Related Party Transactions (Continued) Six months ended 30 June 2017 2016 Name of related parties Nature of transactions (Unaudited) (Unaudited) Associates Mando (Ningbo) Automotive Parts Purchase of automobile parts and components 212,867 Company Limited # ( ) Service income 3,531 Faurecia Emissions Control Technologies (Ningbo) Co., Ltd. # ( ) Ningbo DIPO Traffic Facilities Co., Ltd # (note (d)) Purchase of automobile parts and components 83,825 Purchase of automobile parts and components 5,305 Closed Joint Stock Company BELGEE Sales of complete buildup units 22,224 52,127 Subsidiary of the joint venture Kandi Electric Vehicles (Shanghai) Co., Ltd. # (note (c)) ( ) Sales of automobile parts and components 42,525 Notes: (a) (b) (c) (d) The Group and the related parties are under the common control of the substantial shareholder of Zhejiang Geely Holding Group Company Limited #, the Company s ultimate holding company. The Group does not have the automobile catalogue issued by the National Development Reform Commission in the PRC which is required to facilitate payment of the PRC consumption tax. The related parties referred to above have the relevant automobile catalogue licence and therefore the sales of complete knock down kits and sedan tool kits to and purchase of complete buildup units from related parties as set out above have been presented on a net basis in the condensed consolidated income statement (to the extent that they are back-to-back transactions) since the said related parties in effect only act as a channel to facilitate the payment of the PRC consumption tax. For the same reason, the related claims income from and claims expenses paid to these related parties have also been presented on a net basis as long as they are back-to-back transactions. In October 2016, the Group has disposed of Kandi Electric Vehicles Group Co., Ltd # ( Kandi Electric ) to its ultimate holding company, and subsequently, Kandi Electric and its subsidiaries have become related companies of the Group. In January 2017, the Group has disposed of Ningbo DIPO to an independent third party. Subsequently, Ningbo DIPO had no longer been an associate of the Group. # The English translation of the names of the companies established in the PRC is for reference only. The official names of these companies are in Chinese. 29

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT (CONTINUED) 23. Fair Value Measurements of Financial Instruments Fair value of financial assets and liabilities carried at other than fair value The carrying amounts of the financial instruments of the Group s carried at cost or amortised cost are not materially different from their fair values as at 30 June 2017 and 31 December 2016 due to their short-term maturities, except for the Senior Notes for which the trading volume of the Senior Notes in public market is low, management estimated the fair value of the Senior Notes to be approximately RMB2,099,179,000 (31 December 2016: RMB2,165,518,000) by reference to the 30-day average market price of the Senior Notes. 24. EVENTS AFTER THE REPORTING DATE Formation of a joint venture On 4 August 2017, Zhejiang Jirun Automobile Company Limited # ( Zhejiang Jirun ), a 99% owned subsidiary of the Company, entered into a joint venture agreement (the Joint Venture Agreement ) with Zhejiang Haoqing Automobile Manufacturing Company Limited # ( Zhejiang Haoqing ) and ( ) Volvo Car (China) Investment Company Limited # ( VCI ), fellow subsidiaries owned by the Company s ultimate holding company (the JV Parties ), pursuant to which Zhejiang Jirun and the JV Parties have conditionally agreed to form a joint venture company (the JV Company ) to engage in the manufacturing and sale of automobiles under the Lynk & Co brand, and the provision of after-sale services relating thereto. Pursuant to the Joint Venture Agreement, the JV Company will be owned as to 50% by Zhejiang Jirun, as to 20% by Zhejiang Haoqing and as to 30% by VCI. The registered capital of the JV Company will be RMB7,500,000,000, which shall be contributed by Zhejiang Jirun, Zhejiang Haoqing and VCI in cash in proportion to their respective equity interests in the JV Company. Upon establishment, the JV Company will become a joint venture of the Company and its financial results will be equity accounted for in the consolidated financial statements of the Group. Please refer to the Company s announcement dated 4 August 2017 for further details. Disposal of Zhejiang Kingkong Automobile Company Limited # ( Zhejiang Kingkong ) On 4 August 2017, Zhejiang Fulin Guorun Automobile Parts & Components Company Limited # ( Fulin Guorun ) and Centurion Industries Limited ( Centurion ), wholly-owned subsidiaries of the Company, entered into a disposal agreement with Zhejiang Haoqing, pursuant to which Fulin Guorun and Centurion have conditionally agreed to dispose of their respective 8% and 91% equity interests in Zhejiang Kingkong to Zhejiang Haoqing at an aggregate consideration of approximately RMB1,241,687,000 (the Disposal ). Upon completion of the Disposal, the Group will no longer hold any interests in Zhejiang Kingkong. Please refer to the Company s announcement dated 4 August 2017 for further details. # The English translation of the names of the companies established in the PRC is for reference only. The official names of these companies are in Chinese. 30 INTERIM REPORT 2017 GEELY AUTOMOBILE HOLDINGS LIMITED