The board of directors of China Harmony New Energy Auto Holding Limited announced that Mr. Wang Nengguang has resigned from his position as the non-executive Director of the Company with effect from November 16, 2015 due to his other business commitment. The Board announced that Mr. Fan Qihui has been appointed as the non-executive Director of the Company with effect from November 16, 2015. Mr. Fan, aged 39, is an executive director of Beijing Legend Capital Co.

Ltd. Mr. Fan has over 15 years of experiences in finance and investments. He joined Legend Capital in 2007 as an associate, and was later promoted to the vice president and director. Prior to joining Legend Capital, Mr. Fan worked as a senior manager of the investment banking department of United Securities Co.

Ltd. and as an executive director of the merger and acquisition department of Hengxin Securities.