On and effective March 1, 2016, Mr. Xiangqian Li resigned as Chairman, director, Chief Executive Officer, President and Secretary of China BAK Battery, Inc. On the same date, the Board of Directors of the company appointed Mr. Yunfei Li as Chairman, Chief Executive Officer, President and Secretary of the company. Mr. Yunfei Li has more than twenty years management experience in industries of real estate development, battery and new energy.