The board of directors of Huazhong In-Vehicle Holdings Company Limited announced that Mr. Wu Bichao ("Mr. Wu"), an independent non-executive Director, has been re-designated as an executive Director with effect from 1 March 2021. Mr. Wu remains Vice-chairman of the Board of the Company (the "Vice-chairman"). Mr. Wu, aged 46, was appointed as an independent non-executive Director on 12 September 2018 and Vice-chairman on 27 January 2021. Mr. Wu is responsible for the investment project and financing. In 2000, Mr. Wu shifted his career focus from real estate to overseas and Hong Kong financial markets. His investment fields included securities, equity investment and the initiation and management of funds. Mr. Wu was also involved in several merger, acquisition and reorganization projects in recent years.