The board of directors of Grand Baoxin Auto Group Limited announced that Mr. Lu Wei (Mr. Lu) has resigned from his positions as chairman of the Board, executive Director, members of the nomination committee (the Nomination Committee) and the remuneration committee (the Remuneration Committee) of the Company and an authorised representative of the Company (the Authorised Representative) under the Rules Governing the Listing of Securities (the Listing Rules) on the Stock Exchange of the Hong Kong Limited (the Stock Exchange) with effect from 13 June 2022 due to change in work commitments. Ms. Xu Xing, an executive Director will be appointed as the members of the Nomination Committee and the Remuneration Committee with effect from 13 June 2022. Mr. Lu Ao, an executive Director will be appointed as the Authorised Representative under Rule 3.05 of the Listing Rules with effect from 13 June 2022.