First Tractor Company Limited announced that the Board of the Company received letters of resignation from Mr. Wu Yong, a director and the general manager of the Company, and Mr. Song Yuping, the deputy general manager of the Company. Due to job allocation, Mr. Wu Yong tendered a letter of resignation to resign from the position of general manager of the Company. Upon his resignation, Mr. Wu Yong will continue to serve as a director of the Company and assume the positions in the relevant special committees under the Board. Mr. Song Yuping applied to resign as the deputy general manager of the Company due to health reasons. The company announced the appointment of Mr. Zhu Weijiang as the general manager of the Company being approved, Mr. Wu Yong no longer served as the general manager and Mr. Song Yuping ceased to serve as the deputy general manager. The resignation of Mr. Wu Yong as the general manager will take effect on 10 August 2018. Mr. Wu Yong has confirmed that he had no disagreement with the Board of the Company and there were no other matters in relation to his resignation as the general manager that need to be brought to the attention of Shareholders of the Company.