The Board of Qingling Motors Co. Ltd. announced that at the EGM held on December 22, 2016, Mr. LUO Yuguang was elected as an executive Director with effect from 22 December 2016. He took up the post of the Director and the General Manager of Qingling Group in September 2016. The Board also announced that Mr. LI Juxing, the current executive Director, has resigned as the Acting Chairman of the company, a member of the Remuneration Committee, and the Chairman and a member of the Nomination Committee of the company, all with effect from 22 December 2016. The Board also announced that the newly elected executive Director, Mr. LUO Yuguang, has been appointed as the Chairman of the company, a member of the Remuneration Committee, and a member and the Chairman of the Nomination Committee of the company, all with effect from 22 December 2016.