The board of directors of New Focus Auto Tech Holdings Limited announced that with effect from 15 September 2017, Mr. Zhang Jianxing has resigned as the chief executive officer, the chairman of the Board, a member and the chairman of the nomination committee of the company due to the change in his duties and responsibilities at CDH Investments Management (Hong Kong) Limited ("CDH"), and has been re-designated as a non-executive Director. Mr. Du Jinglei, an executive Director, has been appointed as the Chairman and the chairman of the Nomination Committee; and Mr. Lin Ming, the chief financial officer of the company, has been appointed as the Chief Executive Officer. Zhang has been employed by CDH since 2011, and his current position is managing director.

Prior to joining CDH, Mr. Zhang served as a managing operation director at China Resources Asset Management Limited from 2009 to 2011. Du has been employed by Ding Hui Investment Management (Tianjin) Company Limited since August 2006, and his current position is managing director who is in charge of deal sourcing and executions. Prior to joining CDH, Mr. Du worked as an assistant manager in KPMG China and was responsible for certain IPO audit and other audit assurance engagements from August 2002 to August 2006.

Currently, Mr. Du is also a director, executive deputy general manager and company secretary of Ningbo Yajin Electronic Science and Technology Corporation Limited. From 2002 to 2007, Mr. Lin served as an audit manager in KPMG Huazhen LLP and was responsible for certain IPO audit and other audit assurance engagements. From 2007 to 2013, he served as the chief financial officer and senior vice president of Towona Mobile TV Media Group (China) Limited.

The Board is identifying a suitable candidate to be appointed as the chief financial officer of the company following Mr. Lin's appointment. The role of the chief financial officer of the company is currently assumed by the deputy finance director of the company.