The board of directors of New Focus Auto Tech Holdings Limited announced that with effect from 12 January 2023: Mr. Wang Zhenyu has resigned as a non-executive Director, a member of each of the audit committee (the Audit Committee) and strategy committee of the Company (the Strategy Committee) and the authorised representative of the Company (the Authorised Representative in Hong Kong) due to his intention to dedicate more effort to his other commitments; Mr. Zhang Jianxing has resigned as a non-executive Director, the chairman of the nomination committee (the Nomination Committee) and a member of the remuneration committee of the Company (the Remuneration Committee) due to his intention to dedicate more effort to his other commitments; Mr. Lin Lei has resigned as an independent non-executive Director, the chairman of the Strategy Committee and a member of each of the Audit Committee and Nomination Committee due to his intention to dedicate more effort to his other commitments; and Mr. Zhang Xiaoya has resigned as an independent non-executive Director and a member of each of the Remuneration Committee, Nomination Committee and Strategy Committee due to his intention to dedicate more effort to his other commitments. Each of the above resigned Directors has confirmed to the Board that he does not have any disagreements with the Board and there are no other matters with respect to his resignation that needs to be brought to the attention of the shareholders of the Company (the Shareholders) or The Stock Exchange of Hong Kong Limited (the Stock Exchange). The Board announced that each of Mr. Li Qingwen (Mr. Li) and Ms. Shi Jing (Ms. Shi) has been appointed as an independent non-executive Director with effect from 12 January 2023.

The biographical details of Mr. Li and Ms. Shi are as follows: Mr. Li Qingwen, aged 67, has been the president of Carbingo Academy and Beijing Invisible Unicorn Information Science and Technology since 2017. Mr. Li was an independent director of Chongqing Changan Automobile Co. Ltd. from March 2016 to June 2022, and has been an independent director of each of Xuchang Yuandong Drive Shaft Co.

Ltd. since June 2020 and Jiangsu Lopal Tech. Co., since March 2020. Mr. Li had served as Chairman of China Energy Auto Communication Group, a president of China Automotive News and a chief editor in The People's Daily (Marketing Department), Director and Deputy Director of the General Office of the People's Government of Heilongjiang Province.

Mr. Li graduated from Harbin Engineering University and received a master's degree in economics. Mr. Li will hold office until the next annual general meeting of the Company and will be eligible for and subject to re-election at such meeting, and thereafter he will be subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Ms. Shi Jing, aged 45, has been the investment and financing director and the general manager of financing management center of Vitech Co.

Ltd. successively since April 2021. She had also worked at Beijing Zhong Ke San Huan Hi-Tech Co Ltd. from 2002 to 2015. Ms. Shi has extensive experience in the manufacturing industry and is an expert in industrial product development, production and domestic and international sales.

Ms. Shi obtained a bachelor's degree in English language and literature and master's degree in law from Minzu University of China in July 1999 and July 2002, respectively. Ms. Shi will hold office until the next annual general meeting of the Company and will be eligible for and subject to re-election at such meeting, and thereafter she will be subject to retirement by rotation and re-election in accordance with the articles of association of the Company. The Board further announced that Mr. Tong Fei has been appointed as the acting chairman of the Company following the resignation of Mr. Zhang Jianxing.

The composition of the various Board committees of the Company will be changed as follows: Tong Fei as Member of Remuneration Committee and Chairman of Nomination Committee; Li Qingwen as member of Audit Committee and Nomination Committee; Shi Jing as member of Audit Committee, Remuneration Committee and Nomination Committee. The Board has also resolved to dissolve the Strategy Committee with effect from 12 January 2023. The Board further announced that with effect from 12 January 2023, Mr. Tsang Yu Hoi has been appointed as the Authorised Representative in Hong Kong following the resignation of Mr. Wang Zhenyu.