The board of directors of Sunfonda Group Holdings Limited (the "company") announced that Mr. Song Tao ("Mr. Song") and Dr. Liu Xiaofeng ("Dr. Liu") have been appointed as independent non-executive directors of the company with effect from 26 May 2017. Meanwhile, Mr. Song was appointed as a member of the Audit Committee and the Nomination Committee of the company and the Chairman of the Remuneration Committee of the company, and Dr. Liu was appointed as a member of the Audit Committee, the Nomination Committee and the Remuneration Committee of the company, with effect from 26 May 2017. Mr. Song has 15 years of experience in the automobile sales and its relevant industry, and is Deputy Secretary of China Automobile Dealers Association and director of the Membership Affairs Department. Mr. Song served as deputy general manager for components and parts in FAWMC from September 2001 to March 2004 and was mainly responsible for financial affairs. From March 2004 to October 2006, he served as the Operation Director of Automotive Channel of CCTV International Network. He acted as the Deputy Director of the Import and Export Working Committee of Automobile and Parts of China Automobile Dealers Association in October 2006, the Executive Deputy Director of the Working Committee of Imported Automobile of China Automobile Dealers Association and the Deputy Director of the Expert Committee of China Automobile Dealers Association in 2008. Mr. Song is also a member of Chinese Advisory Committee of American Society of Association Executives (ASAE). Dr. Liu has over 23 years of experience in corporate finance and has worked with various international financial institutions since 1993, including NM Rothschild & Sons, NM Rothschild & Sons (Hong Kong) Limited, JP Morgan Chase, DBS Asia Capital Limited and China Resources Capital Holdings Company Limited. Dr. Liu was an independent non-executive director of Haier Electronics Group Co. Ltd. from June 2007 to June 2014, and is currently an independent non-executive director of Kunlun Energy Company Limited since April 2004, an independent non-executive director of Honghua Group Limited since January 2008 and an independent non-executive director of Cinda International Holdings Limited since July 2016. Dr. Liu is also currently an independent director of UBS Securities Co. Ltd.