The board of directors of Launch Tech Company Ltd. announced that Mr. Wang Xi Lin has tendered his resignation to the supervisory committee of the company due to personal work commitments and will resign as the staff representative supervisor of the company with effect from 30 April 2014. Mr. Wang confirmed that he has no disagreement with the Supervisory Committee and the company during the term of his office and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the company or the Stock Exchange. The Board announced that, at the staff representatives general meeting of the company held on 30 April 2014, Mr. Zhang Jiangbo was appointed by the staff representatives of the company to be the new Supervisor with effect from the date of this announcement.

Particulars of Mr. Zhang are as follow: Mr. Zhang, aged 37, since joining the company in 2000, Mr. Zhang had been the head of IT, system operation manager and chief product manager of the company. Mr. Zhang is currently responsible for the development, management, key client support and marketing of the Internet of Vehicle business of the company.