The board of directors of China Dynamics (Holdings) Limited announced that Mr. Cheung Ngan ("Mr. Cheung") has tendered his resignation as chief executive officer of the Company with effect from 16 October 2020. His resignation is for the purpose of achieving better corporate governance of the Company pursuant to Code Provision A.2.1 of the Corporate Governance Code contained in Appendix 14 to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") so that Mr. Cheung can devote more time to his role as Chairman and in deciding and handling corporate strategies of the Company. The Board announced that Mr. Miguel Valldecabres Polop has been appointed as CEO with effect from 16 October 2020. Mr. Valldecabres Polop quickly saw the growth potential of QEV Technologies, and became its chief executive officer with the support from his ever-growing team until 16 October 2020. QEV Technologies soon became the leading company which offers complete electro-mobility solutions in Spain and defined the meaning to the motto: from Race2Road.