The board of directors of DeTai New Energy Group Limited announced as follows: Mr. Eric Todd has tendered his resignation as the chairman of the Board with effect from 16 August 2021, but Mr. Todd will continue to serve as an executive Director. Mr. Charlie Lu has been appointed as an executive Director and the Chairman with effect from 16 August 2021. Mr. Lu has extensive leadership experience in investment consulting. Over the past 20 years, he has proven to possess progressive and comprehensive corporate development knowledge. Mr. Lu is familiar with a variety of management functions of an organization including initiating, developing and implementing procedures to improve business performance.