On May 23, 2012, the Board of Directors of Wuhan General Group (China) Inc. unanimously appointed Yaojun (Larry) Liu as a member of the board, increasing the number of members on the Board from six to seven. In addition, the Board appointed Mr. Liu as a member of the Audit Committee of the Board. Mr. Liu will hold office until the next annual general meeting of its shareholders or until removed from office in accordance with its bylaws. Mr. Yaojun (Larry) Liu, 36, was a senior project manager at Haitong Securities Company.