Chijet Motor Company, Inc. announced that on August 26, 2023, Mr. Shengwang Liu tendered the resignation as the Chief Financial Officer, effective August 31, 2023. Mr. Liu?s resignation from his position as the CFO of the Company was due to retirement and was not due to any disagreement with the Company regarding its business, finance, accounting and/or any other affairs. To fill in the vacancy created by the resignation of Mr. Liu as the CFO of the Company, the Company?s board of directors appointed Mr. Dongchun Fan to serve as the new CFO of the Company, effective September 1, 2023.

Mr. Dongchun Fan, age 53, is an accomplished financial leader with a distinguished career spanning multiple industries throughout his career. From November 2021 to December 2022, he served as the CFO of Chiso Automotive (Chongqing) Co. Ltd., overseeing financial strategy, system establishment, and capital operations.

Prior to this, as the Group Director/Vice President and Finance Director of Liaoning Shuguang Automotive Group Co. Ltd., a China A-share listed company from August 2020 to August 2021, Mr. Fan enhanced financial operations, managed capital initiatives, and directed strategic financing. From May 2018 to October 2019, he held the position of CFO at Shenyang Zhongtai Equipment Manufacturing Co.

Ltd., focusing on financial controls, investment management, and budget administration. Mr. Fan has also held leadership roles at entities including Jiangsu Muyang Group Co. Ltd., and Impro Precision Industries Limited, where he led projects of initial public offerings, risk control, and internal systems. He earned a master?s degree in business administration (MBA) from Tsinghua University in 2004 and a bachelor?s degree in mechanical manufacturing from Shenyang Aerospace University in 1992.

Mr. Fan holds certifications including Certified Public Accountant (CPA) of China, Intermediate Accountant. He also qualified as a China National Lawyer.