The board of directors of CRCC High-Tech Equipment Corporation Limited announces the following changes to the Board of the Company: The Board received a resignation letter from Mr. Liu Feixiang ("Mr. Liu"), an executive director of the Company, on 6 July 2023. Accordingly, due to his age, Mr. Liu resigned as an executive director, chairman of the Board, chairman of the strategy and investment committee, chairman of the nomination committee and member of the remuneration and evaluation committee of the Company. In accordance with the provisions of the articles of association of the Company, Mr. Liu's resignation became effective from the date of receipt of his resignation letter by the Board on 6 July 2023.

The resignation of Mr. Liu will not result in the number of members of the Board of the Company falling below the statutory requirement and the Board will continue to operate normally. Mr. Liu confirmed that he had no disagreement with the Board, and there were no other matters in respect of his resignation from the above positions that need to be brought to the attention of the shareholders of the Company. Following the retirement of Mr. Liu, Mr. Zhao Hui ("Mr. Zhao"), a non-executive director of the Company, has been appointed as the chairman of the third session of the Board of the Company for a term of office commencing from 7 July 2023 up to the expiry date of the term of the third session of the Board of the Company.

The Board also adjusted the composition of three special committees of the Board and decided not to adjust the composition of the audit and risk management committee of the Board. Composition of the special committees of the Board is set out as follows: Strategy and Investment Committee of the Board: Chairman: Zhao Hui, Members: Wu Yuntian, Na Pengjie. Audit and Risk Management Committee of the Board: Chairman: Na Pengjie, Members: Wu Yuntian, Chu Ching.

Nomination Committee of the Board: Chairman: Zhao Hui, Members: Wu Yuntian, Chu Ching. Remuneration and Evaluation Committee of the Board: Chairman: Chu Ching, Members: Zhao Hui, Na Pengjie. The term of office of the aforesaid members of the special committees of the Board shall commence from 7 July 2023 up to the expiry date of the term of the third session of the Board.