The board of directors of Fuyao Glass Industry Group Co., Ltd. received resignation notifications from Mr. Tso Fai, the president of the company, and Mr. Bai Zhaohua, a director and vice president, on July 1, 2015. Mr. Tso Fai tendered his resignation as the president of the company due to his desire to devote more time to his other business commitments, which will take effect from July 1, 2015. After resignation from his position as the president of the company, Mr. Tso Fai will continue to serve as a director of the eighth session of the board, a member of the strategy and development committee of the eighth session of the board and a member of the nomination committee of the eighth session of the board.

Prior to the appointment of the new president by the board, Mr. Cho Tak Wong, the chairman of the company, will temporarily assume the role of the president of the company. Mr. Bai Zhaohua tendered his resignation as a director and vice president of the company to the board in consideration of his age and due to his change in work arrangement, with effect from July 1, 2015.