On January 18, 2012, Philip Lo submitted to Wuhan General Group (China) Inc. a resignation letter pursuant to which he resigned as the Chief Financial Officer and Treasurer of the company, effective immediately. On the same day, the company's board of directors appointed Li Pan as the company's Principal Accounting Officer and Treasurer, effective immediately. Ms. Pan, 28, will perform the services and duties that are normally and customarily associated with the PAO and Treasurer position as well as other associated duties as board and Chief Executive Officer reasonably determine.