Great Wall Motors announced on July 24 that the board of directors received a written resignation report from Wang Fengying, the general manager of the company. Wang Fengying applied for resignation as the general manager of the company due to work adjustment. Wang Fengying will continue to engage in strategic management related work in the company. Wang Fengying has confirmed that they have no disagreement with the board of directors of the Company and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company and the Exchange. The board of directors of the company expresses its heartfelt thanks to Wang Fengying for her diligent work and contribution to the development of the company during her tenure as general manager of the company.

After the fourth nomination by the Nomination Committee of the seventh session of the board of directors of the company and the deliberation of the company's directors, the board of directors agreed to replace the general manager and nominate Mu Feng as the general manager. Mu Feng will sign a service agreement with the company. The seventh term of the board of directors expires, and the board of directors is authorized to determine Mu Feng's remuneration according to his work content and job responsibilities. Mu Feng's remuneration will mainly include basic remuneration, performance bonus, welfare and various social insurance, housing provident fund's unit contribution, and his remuneration will be determined according to the company's applicable regulations and annual assessment results. After the relevant remuneration is determined, the company will disclose Mu Feng's remuneration in the annual report released by the company in due course. As of the announcement date, Mu Feng held 900,900 A shares of the company (180,180 shares of which have not been unlocked).

According to the announcement, Mu Feng is 47 years old and is currently mainly responsible for the overall management of the company. He joined the company in 2007 and served as the company's R&D leader, product strategy leader, and vehicle business leader. Now he is also responsible for managing the company's technology R&D branch. He is also an executive director and legal representative of Shanghai Great Wall Motor Technology Co., Ltd., a wholly-owned subsidiary of the company, an executive director, manager and legal representative of Hebei Xiong’an Great Wall Motor Technology Co., Ltd., and an executive director of Zhangjiagang Great Wall Motor Research and Development Co., Ltd. Director and legal representative.