The board of directors of China Rundong Auto Group Limited announced that Mr. Zhao Zhongjie has resigned as an executive Director and ceased to be the executive president of the Company with effect from 30 August 2018 due to his other business commitments. Mr. Zhao has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation which needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company. The Board further announces that Mr. Zhao Zhongjie has ceased to be the authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange with effect from 30 August 2018 and Mr. Yang Peng, an executive Director, has acted as the authorised representative of the Company under Rule 3.05 of the Listing Rules with effect from the same date.