The Board of directors of CRCC High-Tech Equipment Corporation Limited announced that Mr. Zhou Huipeng (?Mr. Zhou?) has tendered his resignation as the general manager of the Company with effect from 31 May 2024 due to change in work arrangements, and his other position in the Company will remain unchanged, being the executive director of the Company. During his tenure as the general manager of the Company, Mr. Zhou performed his duties diligently and conscientiously and made significant contributions to the development of the Company. Upon consideration and approval by the nomination committee of the Board and based on the development needs of the Company, the Board resolved to appoint Mr. Xiang Daqiang as the general manager of the Company.

The term of office of Mr. Xiang shall commence from the date of passing the Board resolution (that is 31 May 2024) until the date of establishment of the next session of the Board and the appointment of a new session of senior management. Mr. Xiang Daqiang, aged 49, graduated from China University of Geosciences with a master's degree in engineering majoring in architecture and civil engineering in July 2010 and he is a professor-level senior engineer. He successively served as the head of the operation and development department, deputy general manager and general manager of China Railway 16th Bureau Group 4th Engineering Co.

Ltd. from August 2003 to January 2015; and successively served as the deputy general manager, general manager and a director of China Railway 16th Bureau Group Co. Ltd. from January 2015 to May 2023. From May 2023 to March 2024, he served as an external director of China Railway 16th Bureau Group Co.

Ltd.; and since June 2023, he has been an external director of each of China Civil Engineering Construction Corporation, China Railway 11th Bureau Group Co. Ltd., China Railway 23rd Bureau Group Co. Ltd. and China Railway Materials Group Co.

Ltd.