The board of directors of the CAR Inc. announced that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and information currently available to the Board, the Group is expected to incur a net loss for the six months ended 30 June 2020, as compared to the net profit of RMB 279 million for the six months ended 30 June 2019.