On April 17, 2014, Mr. Huanyu Mao resigned from his positions as a director and Chief Technical Officer of China BAK Battery, Inc., effective immediately. Mr. Mao's resignation was due to personal reasons and not because of any disagreement with the company on any matter relating to the company's operations, policies or practices. On the same date, the board of directors of the company appointed Dr. Jian Lin as Interim Chief Technical Officer of the company, until a successor is named.

The company intends to appoint a new director to fill the vacancy created by Mr. Mao's resignation as soon as practicable. Dr. Jian Lin served as Vice Director of R&D Centre of the company's subsidiary, Shenzhen BAK Battery Co. Ltd. since March 2012, where he is responsible for the overall R&D activities of Shenzhen BAK.