Guangzhou Automobile Group Co., Ltd. (“GAC Group”) closed its 2012 Corporate Bonds (Phase II) (“the Bonds”) offering on Jan. 21st, 2015. Out of the approved quota of RMB 6 billion, the size of the Bonds is RMB 2 billion. The Bonds have a 5-year maturity with a coupon rate of 4.70%. The issuer and the Bonds are both AAA-rated. CICC acted as Sole Sponsor, Sole Bookrunner and Joint Lead Underwriter.