On 19 August 2020, the Joint and Several Provisional Liquidators of FDG Electric Vehicles Limited ('JSPLs') have served a notice on Mr. Jaime Che (Chief Executive Officer), Dr. Chen Yanping (Chief Technical Officer), Mr. Cao Zhong (suspended), Mr. Lo Wing Yat (Chairman), Mr. Huang Tan, Mr. Chan Yuk Tong, Mr. Fei Tai Hung and Mr. Tse Kam Fow (collectively 'Former Board of Directors') to terminate them as the board of directors of FDG EV with immediate effect. For the avoidance of doubt, Mr. Jaime Che, Dr. Chen Yanping and Mr. Lo Wing Yat are no longer the Chief Executive Officer, Chief Technical Officer and Chairman respectively of FDG EV. The powers of the Former Board of Directors have ceased and they no longer represent FDG EV on any matters since the date of the appointment of the JSPLs on 24 July 2020. Pursuant to the Order, the powers of the JSPLs have been granted full power of the management of FDG EV since their appointment. The JSPLs will nominate new members of the board of directors as soon as practicable.