Grand Baoxin Auto Group Limited announced the following changes with effect from 17 June 2022: Mr. Ma Fujiang ("Mr. Ma") was appointed as the chairman of the Board, an executive Director, a member of each of the nomination committee and the remuneration committee of the Company and an authorised representative of the Company under the Rule 3.05 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of the Hong Kong Limited (the "Stock Exchange"); Ms. Xu Xing ceased to act as a member of each of the Nomination Committee and the Remuneration Committee; and Mr. Lu Ao ceased to act as the Authorised Representative under Rule 3.05 of the Listing Rules. Mr. Ma, aged 58, is a qualified Senior Operation Manager. Mr. Ma joined China Grand Automotive Services Group Company Limited, in May 2012 and is currently the chairman and executive vice president of the board of CGA.

Mr. Ma previously acted as the director of Xinjiang Electromechanical Equipment Co. Ltd. from 1991 to September 2002, the deputy general manager and the general manager of Xinjiang Tianhui Auto Sales Service Co. Ltd., a subsidiary of CGA, from October 2002 to February 2009 and the general manager of Lanzhou Guanghui Saichi Auto Service Co.

Ltd., a subsidiary of CGA, from February 2009 to July 2013.