The board of China ZhengTong Auto Services Holdings Limited announced that, in line with the Group's long-term development strategy as a brand providing differentiated and professional auto finance services as well as the Proposed Listing of Dongzheng, Mr. Shao Yong Jun (Mr. Shao), an executive director of the Company and Dongzheng respectively, has tendered his resignation as the executive director of the Company, in order to be committed to the expansion and management of Dongzheng's auto finance business. Mr. Shao's resignation will take effect on 2 April 2019. Mr. Shao confirms that he has no disagreement with the board and the company, and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the company.