Sunfonda Group Holdings Limited announced that with effect from 9 November 2022 Mr. Deng Ning ("Mr. Deng") has been appointed as an executive director of the Company and Mr. Gou Xinfeng has resigned as an executive director of the Company as he wishes to put more focus on in-store operation management. Mr. Deng Ning, aged 44, has over 21 years of experience in automobile brand operation and management and extensive expertise and knowledge. Mr. Deng joined the Group in November 2011 and successively held the following management positions in the subsidiaries of the Company: sales manager of Shaanxi Sunfonda Automobile Co.

Ltd. from November 2011 to June 2012; assistant to the general manager of Shaanxi Sunfonda Automobile Co. Ltd. from July 2012 to March 2015; general manager of Weinan Sunfonda Boao Automobile Sales Service Co. Ltd. from April 2015 to October 2017; and general manager of Weinan Zongshen Baotai Automobile Sales Service Co.

Ltd. from November 2017 to September 2019. Since October 2019, he has been the general manager of Xi'an Sunfonda Haibao Automobile Sales and Service Co. Ltd. Mr. Deng graduated from Xi'an Institute of Technology (now known as Xi'an Technological University) with a bachelor's degree in Trade and Economics in July 2000.