CRCC High-Tech Equipment Corporation Limited announced upon review and recommendation by the nomination committee of the Board and based on the company's development needs, the Board has resolved to appoint Mr. Ma Changhua, Mr. Yang Zhuo and Mr. Xu Shengwei as deputy general managers of the Company; and Mr. Li Wanqing as secretary of the Board of the Company. The terms of office of the aforesaid senior management members shall commence from the date of passing the appointment by the Board (that is 3 November 2023) up to the date on which the fourth session of the Board of the Company is established and a new session of senior management is appointed, which are the same as the terms of office of the existing senior management members. Mr. Ma Changhua, aged 50, has been the secretary of the Board of the Company since February 2015, a joint company secretary of the Company since November 2015 and director of the working department of the Board of the Company since July 2019.

He obtained a master's degree in international economic and trade relations jointly set up by Nankai University and Flinders University, Australia in June 2014 and is an engineer who has 25 years of experience in the field of railway maintenance machinery manufacturing and repair. From March 2005 to February 2015, he successively served as deputy head and head of information management department, office director, assistant to general manager, and commander at construction instruction department of the northern base of the Company. From February 2015 to November 2021, he successively served as secretary of the Board, office director of the Board, and director of the strategic investment department, securities department and asset management department of the Company.

Mr. Yang Zhuo, aged 39, has been the general manager of the general manufacturing factory, deputy secretary of the Communist Party Committee and general manager of the technological service company of the Company since April 2022. He graduated from Central South University with a bachelor's degree of automation in June 2006, and has 17 years of experience in the field of railway maintenance machinery manufacturing and repair. From March 2013 to April 2022, he successively served as the director of technical office and factory director of the general assembly sub-factory, deputy general manager and general manager of the technological service company, member of the Party general branch of operational services, general manager and deputy secretary of the Communist Party Committee of the general manufacturing factory of the Company.

Mr. Xu Shengwei, aged 36, has been the general manager of the rail transit business department since May 2022. He graduated from Southwest Jiaotong University with a bachelor's degree of locomotive and rolling stock engineering in June 2009, and has 14 years of experience in the field of railway maintenance machinery manufacturing and repair. From July 2018 to May 2022, he successively served as the secretary of the Communist Party Committee, deputy director of the office, the deputy general manager and general manager of the Operation Department II.

Mr. Li Wanqing, aged 53, currently serves as a researcher of special grade, general manager of asset management department, deputy director of large railway track maintenance machinery research and development center, president of the research institute for simulation and engineering testing and senior engineer of the Company. He obtained a master's degree in international economic and trade relations jointly set up by Nankai University and Flinders University, Australia in September 2016, and has 31 years of experience in the field of railway maintenance machinery manufacturing and repair. From January 2009 to October 2022, he successively served as the deputy director of technological transformation office, head of development planning department, deputy chief economist, office director of the Board, director of equipment management platform and director of test center of the research and design institute, deputy head of strategic investment department, head of equipment department and director of test center of the research and design institute, vice president of the research and design institute and president of the research institute for simulation and engineering testing of the Company.