Mr. Yang Yi was elected as the employee representative supervisor of Launch Tech Company Limited at the employee representative meeting of the Company held on 23 June 2016. On 23 June 2016, the supervisory committees of the Company passed the resolution on the change of the Employee Representative Supervisor of the Company. Mr. Zhang Jiang Bo resigned as the Employee Representative Supervisor due to other work arrangement. Mr. Zhang's resignation is effective from 23 June 2016. The Board also announced that Mr. Huang Guobin has tendered his resignation as secretary to the Board of the Company due to personal reasons with effect from 23 June 2016. The Board announced that Mr. Zhang has been appointed as secretary to the Board of the Company with effect from 23 June 2016.