On May 15, 2012, the board of directors of China Automotive Systems Inc. received a resignation letter from Mr. Bruce C. Richardson, wherein Mr. Richardson resigned as a director of the Company and as the chairman of the audit committee of the Board and a member of the compensation and nominating committees of the Board. On May 15, 2012, the Board appointed Mr. Arthur Wong as a director of the Company, to serve as the chairman of the audit committee of the Board and a member of the compensation and nominating committees of the Board.