China Yongda Automobile Services Hldg : PROPOSED RE-DESIGNATION OF EXECUTIVE DIRECTOR AND PROPOSED RESIGNATION OF EXECUTIVE DIRECTORS

178469 Eng.indd

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

China Yongda Automobiles Services Holdings Limited

（中國永達汽車服務控股有限公司）

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03669)

PROPOSED RE-DESIGNATION OF EXECUTIVE DIRECTOR AND PROPOSED RESIGNATION OF EXECUTIVE DIRECTORS

Reference is made to the inside information announcement issued by the Company on April 7, 2016, and the announcement dated April 15, 2016 regarding (1) the very substantial disposal and very substantial acquisition in relation to the proposed disposal of 100% equity interests in Shanghai Yongda Automobile Group Co., Ltd. and the proposed subscription of shares in Suzhou Yangtze New Materials Co., Ltd. and (2) proposed spin-off of Shanghai Yongda Automobile Group Co., Ltd. (the "Announcement"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

PROPOSED RE-DESIGNATION OF EXECUTIVE DIRECTOR

The Board would wish to inform the Shareholders that it has been approved at a board meeting held on April 14, 2016 that Mr. Wang Zhigao ("Mr. Wang"), an executive director of the Company, will be re-designated from executive director to non-executive director of the Company with effect from the completion of the Proposed Spin-off.

Mr. Wang, age 47, is our Vice-chairman and was re-designated from our non-executive director to executive director on March 23, 2015. Mr. Wang is responsible for managing the strategies, remuneration and the affairs as a professional capital market institution of our Group and guiding the financial management and legal affairs of our Group. Mr. Wang has been our non-executive director from January 2012 to March 2015, a director of Shanghai Yongda Holding (Group) Limited ( 上海永達控股 ( 集團 ) 有限公司 ) since January 2005 and its deputy chief executive officer since January 2004, where he is responsible for its finance, audit, investment and legal affairs, and a director of Shanghai Yongda Group Company Limited By Shares ( 上海永達 ( 集 團 ) 股份有限公司 ) since December 2003. Mr. Wang has been the chairman of Shanghai Yongda Automobile Group Co., Ltd. ( 上海永達汽車集團有限公司 ), an indirect wholly-owned subsidiary of the Company, since February 2016. Mr. Wang is also currently a director of Sea of Wealth International Investment Company Limited, a direct wholly-owned subsidiary of the Company,

and Grouprich International Investment Holdings Limited, an indirect wholly-owned subsidiary of the Company, and the chairman or a director of several of our subsidiaries. He also serves as a director of Shanghai Shoujia Investment Co., Ltd. ( 上海首佳投資有限公司 ) and Shanghai Shouchuang Automobile Consultancy and Services Co., Ltd. ( 上海首創汽車諮詢服務有限公司 ), the chairman of Shanghai Yongda Asset Management Company Limited ( 上海永達資產管理股份 有限公司 ) and Shanghai Yongda Investment Management Co., Ltd. ( 上海永達投資管理有限公 司 ), an indirect wholly-owned subsidiary of the Company. From February 2006 to February 2016, Mr. Wang was an executive director of Shanghai Yongda Property Development Co., Ltd. ( 上海永 達置業發展有限公司 ). From March 1998 to December 2003, Mr. Wang was a lawyer at Shanghai Jin Shi Law Firm ( 上海金石律師事務所 ) and from January 1997 to February 1998, a lawyer at Shanghai Xin Cheng Law Firm ( 上海信誠律師事務所 ) and from August 1992 to December 1996, a lecturer at East China University of Political Science and Law ( 華東政法大學 ). Mr. Wang graduated from East China University of Politics and Law with a bachelor degree in economic law in 1992 and a master degree in law in 1999. Mr. Wang also received a master degree in business administration from China Europe International Business School ( 中歐國際工商學院 ) in 2007.

Save as disclosed above, Mr. Wang has not held any directorship in any listed public companies which are listed in Hong Kong or overseas in the past three years.

Mr. Wang is interested in 58,070,500 shares of the Company, representing approximately 3.92% of the total issued shares of the Company. Save as disclosed herein, Mr. Wang has no other interest in the Company's securities within the meaning of Part XV of the SFO.

Save as disclosed above, there is no other information required to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, nor are there any other matters that need to be brought to the attention of the shareholders of the Company.

After the re-designation becomes effective, Mr. Wang will become a non-executive director of the Company.

PROPOSED RESIGNATION OF EXECUTIVE DIRECTORS

The Board announces that due to internal work allocation, Mr. Xu Yue ("Mr. Xu") and Ms. Chen Yi ("Ms. Chen"), both executive directors of the Company, have submitted their resignation letters to the Board on April 14, 2016, pursuant to which they propose to resign from their positions as executive directors of the Company with effect from the completion of the Proposed Spin-off.

Mr. Xu and Ms. Chen have confirmed that they have no disagreement with the Board and they are not aware of any matters in connection with their proposed resignation that need to be brought to the attention of the Shareholders.

The Company will make further announcement when the proposed re-designation of executive director and proposed resignation of executive directors of the Company take effect pursuant to the applicable requirements under the Listing Rules.

By order of the Board

China Yongda Automobiles Services Holdings Limited Cheung Tak On

Chairman

The PRC, April 15, 2016

As at the date of this announcement, the Board comprises (i) five executive directors, namely Mr. Cheung Tak On, Mr. Cai Yingjie, Mr. Wang Zhigao, Mr. Xu Yue and Ms. Chen Yi; (ii) one non-executive director, namely Mr. Wang Liqun; and (iii) three independent non-executive directors, namely Mr. Lyu Wei, Mr. Chen Xianglin and Ms. Zhu Anna Dezhen.