Huazhong In Vehicle : RE-DESIGNATION OF DIRECTOR

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HUAZHONG IN-VEHICLE HOLDINGS COMPANY LIMITED ശ଺ԓ༱છٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6830)

RE-DESIGNATION OF DIRECTOR

The board (the "Board") of directors (the "Directors") of Huazhong In-Vehicle Holdings Company Limited (the "Company") hereby announces that Mr. Wu Bichao ("Mr. Wu"), an independent non-executive Director, has been re-designated as an executive Director with effect from 1 March 2021. Mr. Wu remains Vice-chairman of the Board of the Company (the "Vice-chairman").

Mr. Wu, aged 46, was appointed as an independent non-executive Director on 12 September 2018 and Vice-chairman on 27 January 2021. Mr. Wu is responsible for the investment project and financing. Mr. Wu graduated from Huaqiao University with a junior college degree in financial management. He entered the real estate industry in 1993, engaging in real estate development and operation. Mr. Wu entered the financial market in 1998 and commenced his engagement in foreign currency investment. In 2000, Mr. Wu shifted his career focus from real estate to overseas and Hong Kong financial markets. His investment fields included securities, equity investment and the initiation and management of funds. Mr. Wu was also involved in several merger, acquisition and reorganization projects in recent years.

Mr. Wu is entitled to a Director's emolument at HKD600,000 per annum, which has been determined upon negotiation between Mr. Wu and the Company at arm's length on the basis of his previous experience, professional qualifications, responsibilities to be involved in the Company, the amount of time to be devoted to the Company's business, the current financial position of the Company and the prevailing market rate.

As at the date of the announcement, Mr. Wu does not have any interests or short positions in the shares or underlying shares in the Company or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

Save as disclosed above, (i) Mr. Wu has not held any other directorships in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years; (ii) he has not held any other positions in the Company and its subsidiaries; (iii) he does not have any relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company; and (iv) no other information that is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules nor are there other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to welcome Mr. Wu for serving his new position in the Company.

By order of the Board

Huazhong In-Vehicle Holdings Company Limited

Zhou Minfeng

Chairman and Chief Executive

Hong Kong, 1 March 2021

As at the date of this announcement, the executive Directors are Mr. Zhou Minfeng, Mr. Chang Jingzhou and Mr. Wu Bichao; the non-executive Directors are Ms. Lai Cairong, Mr. Wang Yuming, Mr. Guan Xin and Mr. Yu Zhuoping; and the independent non-executive Directors are Mr. Wong Luen Cheung Andrew, Mr. Yu Shuli, Mr. Tian Yushi and Mr. Xu Jiali.