The board of directors of CRCC High-Tech Equipment Corporation Limited announced the following changes to the Board of the Company: Due to work adjustments, Mr. Zhao Hui (Mr. Zhao) has been re-designated from a non-executive director to an executive director of the Company, and Mr. Tong Pujiang (Mr. Tong) has been re-designated from an executive director to a non-executive director of the Company, each with a term of office commencing from 11 September 2023 until the expiry of the term of the current session of the Board. Zhao Hui, aged 50, has been a non-executive director of the Company since July 2019. He graduated from the department of environmental engineering in Lanzhou Railway University with a bachelor's degree in July 1995, majoring in water supply and drainage.

He is a senior engineer who has 26 years of experience in research, development and manufacturing of high-end equipment in China. From September 2005 to February 2023, he successively served as assistant to general manager and deputy general manager of China Railway Zhuzhou Bridge Co. Ltd., head of marketing department, assistant to general manager, marketing director, general manager of turnout branch, general manager of track division of China Railway Construction Heavy Industry Corporation Limited ("CRCHI"); deputy general manager and director of CRCHI.

Since February 2023, he has been the general manager and a director of CRCHI. Since July 2023, he has been the chairman of CRCHI. From September 2017 to July 2019, he served as an executive director of the Company.

Tong Pujiang, aged 45, has been an executive director of the Company since September 2017. He graduated from Southwest Jiaotong University in July 1999, majoring in machinery engineering and automation, and graduated from the Party School of the CPC Central Committee in June 2014 with a master's degree in economic management. He is a senior engineer who has 23 years of experience in manufacturing and repair of railway large track maintenance machinery.

From August 2005 to January 2015, he successively served as deputy director and director of the office, assistant to general manager, head of human resources department, and manager of the general manufacturing factory of the Company. He successively served as deputy general manager and general manager of the Company from June 2015 to April 2022. The Board received the resignation report from Mr. Luo Jianli (Mr. Luo), an executive director of the Company, on 11 September 2023.

Accordingly, due to change of work, Mr. Luo resigned as an executive director of the Company with effect from 11 September 2023. According to the relevant provisions of the articles of association of the Company, the Board comprises nine directors. As a result of Mr. Luo's resignation, the number of existing members of the Board is lower than the number stipulated in the articles of association of the Company and the Company is considering the candidates for the replacement director and will make further announcement in due course.