The board of directors of China Rundong Auto Group Limited (the ‘Company') announced that Ms. HO Siu Pik (‘Ms. Ho') has tendered her resignation as the company secretary of the Company (the ‘Company Secretary'), an authorised representative of the Company (the ‘Authorised Representative') pursuant to Rule 3.05 of the Rules Governing the Listing of Securities (the ‘Listing Rules') on The Stock Exchange of Hong Kong Limited (the ‘Stock Exchange'); and an agent for acceptance of service of process and notices on behalf of the Company in Hong Kong under Rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the ‘Process Agent') with effect from 20 June 2022. The Board further announced that Mr. IP Tak Wai (‘Mr. Ip') has been appointed as the Company Secretary, the Authorised Representative and the Process Agent with effect from 20 June 2022. Mr. Ip is a director of Tricor Services Limited, a global professional services provider specializing in integrated business, corporate and investor services.

Mr. Ip has over 17 years of experience in corporate governance, compliance and share registration profession. He has been providing corporate secretarial and compliance services, share registration and IPO services to Hong Kong listed companies as well as multinational, private and offshore companies. Mr. Ip is a Chartered Secretary, a Chartered Governance Professional and a Fellow of both The Hong Kong Chartered Governance Institute (formerly known as The Hong Kong Institute of Chartered Secretaries) and The Chartered Governance Institute in the United Kingdom.

Mr. Ip obtained a bachelor's degree in Integrated Business Administration from The Chinese University of Hong Kong and a master degree in Professional Accounting and Corporate Governance from City University of Hong Kong.