On August 28, 2014, Mr. Xiangqian Li resigned as the Interim Chief Financial Officer and Treasurer of China BAK Battery, Inc., effective immediately. Mr. Li's resignation was not in connection with any known disagreement with the company on any matter. On the same date, the Board of Directors of the company appointed Mr. Wenwu Wang to serve as the company's Interim Chief Financial Officer and Treasurer, effective immediately.

Mr. Li will continue to act as the company's Chief Executive Officer and Chairman of the Board of Directors. Mr. Wengwu Wang, age 32, has served as the financial controller of the company's PRC subsidiary, Dalian BAK Power Battery Co. Ltd. since April 2014 and was the vice financial manager of the company's former PRC subsidiary, Shenzhen BAK Battery Co.

Ltd. from August 2013 to June 2014. He has also served as consolidation and financial reporting manager of the company since September 2012. From November 2010 to September 2012, he served as financial manager of the company's former Indian subsidiary, BAK Telecom India Private Limited.