On April 26, 2012, Kandi Technologies Corp. received the resignation from Mr. Zheng Mingyang as a director, and member of the Audit Committee, the Corporate Governance and Nominating Committee and the Compensation Committee, for personal reasons and effective from April 27, 2012. Mr. Zheng has no disagreements on any corporate matters with the company. On May 1st, 2012, the Board of Directors of the company approved the appointment of Mr. Chen Liming, age 75, as a director, member of the Audit Committee, the Corporate Governance and Nominating Committee and the Compensation Committee to replace Mr. Zheng, effective May 1st, 2012. Chen serves as an advisor to AA Win & Solar Energy Development Group, LLC .USA since May, 2009. Between February, 2009 and October, 2010, Mr. Chen participated in the development of super mini three seats pure electric vehicle with Mr. Qiu Youmin, the former designer of Geely Automobile Co. Ltd.