The board of directors of Grand Baoxin Auto Group Limited announced that Mr. Qi Junjie has tendered his resignation as an executive Director with effect from 1 May 2020 due to other work arrangements. Mr. Qi has confirmed that he has no disagreement with the Board and that there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company and/or The Stock Exchange of Hong Kong Limited.