Changfeng Axle (China) Company Limited the Board announced that due to the change in control of the Company upon the Subscription Completion
and the Acquisition Completion Mr. Wong Kwai Mo has tendered his resignation as executive Director with effect from the Subscription Completion on 25 March 2015. Mr. Lai Fengcai has tendered his resignation as executive Director with effect from the Subscription Completion on 25 March 2015. Mr. Zhu Weizhou has tendered his resignation as independent non-executive Director with effect from the Subscription Completion on 25 March 2015. Dr. Li Xiuqing has tendered his resignation as independent non-executive Director with effect from the Subscription Completion on 25 March 2015. Mr. Chong Ching Hei has tendered his resignation as independent non-executive Director with effect from the Subscription Completion on 25 March 2015. The Board announced that with effect from the Subscription Completion on 25 March 2015. Mr. Cheng Jerome has been appointed as an executive Director and chairman of the Board. Mr. Yuan Weitao has been appointed as an executive Director. Mrs. Guo Yan has been appointed as a non-executive Director. Mr. Feng Xiaohui has been appointed as a non-executive Director. Mr. Wong Chi Keung has been appointed as an independent non-executive Director. Mr. Liu Erhfei has been appointed as an independent non-executive Director and Mr. Chan Chi Keung Alan has been appointed as an independent non-executive Director.