TMSR Holding Company Limited announced that on February 25, 2020, Mr. Yuguo Zhang tendered his resignation as a director and the Co-Chair of the Board of Directors of TMSR Holding Company Limited (the "Company"), effective February 25, 2020. The resignation of Mr. Zhang has been approved by the Nominating and Corporate Governance Committee, the Compensation Committee and the Board of Directors of the Company. Mr. Zhang remained as the President of the Company. On the same day, Mr. Xueyuan Han tendered his registration as a director, chairman of the Audit Committee, and member of the Compensation Committee and Nominating and Corporate Governance Committee of the Company, effective February 25, 2020. The resignation of Mr. Han has been approved by the Nominating and Corporate Governance Committee, the Compensation Committee and the Board of Directors of the Company. On February 25, 2020, approved by the Board of Directors, the Nominating and Corporate Governance Committee, and the Compensation Committee of the Company, Mr. Wei Xu, a director of the Company, was appointed as the Co-Chair of the Board of Directors; Mr. Mingze Yin, a director of the Company, was appointed as the chairman of the Audit Committee; Mingyue Cai was appointed as a director, the chairman of the Compensation Committee, and a member of the Audit Committee and the Nominating and Corporate Governance Committee; and Bibo Lin was appointed as the Vice President of the Company, all effective February 25, 2020. Mr. Mingze Yin has been determined by the Board to meet the "audit committee financial expert" standards of the SEC for service on the Audit Committee. Mr. Mingyue Cai, age 41, has been the Vice President at Yitu Safety Technology (Shenzhen) Co. Ltd.