QINGLING MOTORS (01122) has issued an announcement regarding several changes to its board of directors. Mr. Luo Yuguang has resigned from his positions as executive director, chairman of the company, member of the remuneration committee, and chairman and member of the nomination committee due to an adjustment in work responsibilities. Mr. Kojiku Nakamur has resigned as an executive director and vice chairman of the company due to work adjustments. Mr. Mikio Tsukui has resigned as an executive director for the same reason. Mr. Xu Song, Mr. Li Juxing, and Mr. Li Xiaodong have each resigned from their roles as executive directors due to adjustments in their work divisions. Separately, Mr. Long Tao has resigned as an independent non-executive director, as well as a member of the audit committee, remuneration committee, and nomination committee, having reached retirement age. Mr. Song Xiaojiang has also resigned as an independent non-executive director, and as chairman and member of the audit committee, chairman and member of the remuneration committee, and member of the nomination committee, upon reaching retirement age. These resignations will take effect on the date of the company's upcoming extraordinary general meeting.

The controlling shareholder, Qingling Motors (Group) Co., Ltd., has provided written notice nominating Mr. Liu Zhongwei, Mr. Xu Dengke, and Ms. Song Xiumin as director candidates. A major shareholder, Isuzu Motors Limited, has given written notice proposing Mr. Takuji Kani and Mr. Yuya Nagata as director candidates. The company's employee representatives have nominated Ms. Yan Huarong as a candidate for employee director. Following the recommendation of the company's nomination committee, the board has nominated Mr. Liu, Mr. Kani, Mr. Nagata, Mr. Xu, Ms. Song, Mr. Yang Xinglong, and Ms. Hou Qian as director candidates. Their proposed term would commence on the date of the extraordinary general meeting and last until the date of the company's 2027 annual general meeting.

A resolution for the election of directors will be presented at the extraordinary general meeting. Following the election, a board meeting will be convened to appoint: (1) Mr. Liu as chairman of the company, member of the remuneration committee, and chairman and member of the nomination committee; (2) Mr. Kani as vice chairman of the company; (3) Mr. Yang as chairman and member of the audit committee, chairman and member of the remuneration committee, and member of the nomination committee; and (4) Ms. Hou as a member of the audit committee, remuneration committee, and nomination committee.