The Board of Grand Baoxin Auto Group Limited announced that Mr. Wang Keyi has tendered his resignation as an independent non-executive Director, the chairman of the Nomination Committee, a member of each of the Audit Committee and the Remuneration Committee of the company; and Ms. Liu Yangfang has been appointed as an independent non-executive Director, the chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee of the company, with effect from June 8, 2018. Ms. Liu has been the Managing Partner of C & S Law Firm ("C & S") since January 2016.