CRCC High Tech Equipment : ANNOUNCEMENT ON RESIGNATION OF DIRECTOR AND SUPPLEMENTAL ANNOUNCEMENT TO CONTINUING CONNECTED TRANSACTIONS

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(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1786)

ANNOUNCEMENT ON RESIGNATION OF DIRECTOR

AND

SUPPLEMENTAL ANNOUNCEMENT TO

CONTINUING CONNECTED TRANSACTIONS

1. ANNOUNCEMENT ON RESIGNATION OF DIRECTOR
   The board of directors (the "Board") of CRCC High-Tech Equipment Corporation Limited (the "Company") announces that the Board received the resignation letter from Mr. Wu Zhixu ("Mr. Wu"), a director of the Company, on 3 August 2020. Due to personal work arrangements, Mr. Wu has tendered his resignation as a non-executive director of the second session of the Board. The above resignation has become effective immediately upon the receipt of the resignation letter by the Board.
   Mr. Wu confirmed that he had no disagreement with the Board and the Company, and there were no other matters in respect of his resignation that need to be brought to the attention of the shareholders of the Company. The Board hereby extends its sincere appreciation for the contributions made by Mr. Wu to the Company during his term of office.

1. SUPPLEMENTAL ANNOUNCEMENT TO CONTINUING CONNECTED TRANSACTIONS
   Reference is made to the announcement issued by the Company on 31 July 2020 in relation to, among others, the entering into of the Financial Services Framework Agreement with CRCC Finance on 31 July 2020 to replace the Previous Financial Services Framework Agreement (the "Announcement"). Unless otherwise specified in this announcement, terms used herein shall have the same meanings as those defined in the Announcement.

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The Company wishes to provide further information to the Announcement that since the highest applicable percentage ratio in respect of the highest annual cap under the Financial Services Framework Agreement is more than 5% but less than 25%, the Financial Services Framework Agreement constitutes a discloseable transaction for the Company and is subject to reporting and announcement requirements under Chapter 14 of the Listing Rules.

Save as disclosed in this announcement, all information in the Announcement remains unchanged.

By Order of the Board

CRCC High-Tech Equipment Corporation Limited

Liu Feixiang

Chairman

Kunming, the People's Republic of China, 3 August 2020

As at the date of this announcement, the Board of the Company comprises Mr. Liu Feixiang, Mr. Tong Pujiang and Mr. Chen Yongxiang, as executive directors; Mr. Zhao Hui and, Mr. Sha Mingyuan, as non-executive directors; and Mr. Sun Linfu, Mr. Yu Jiahe and Mr. Wong Hin Wing, as independent non-executive directors.

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