On August 26, 2016, YaSheng Group at a meeting of the Board of Directors (i) accepted the resignation of Ye Dong as a Director and Chairman due to retirement, (ii) appointed Cui Wei Hao as a Director and Chairman, (iii) removed Wu Mei Ping as President and Secretary and from all offices, effective August 11, 2016, (iv) appointed Cui Wei Hao as President and Chief Executive Officer effective August 11, 2016, (v) appointed Zhuang Haiyun as Secretary, Chief Financial Officer and Treasurer, effective August 11, 2016.