Stock code: 688187 (A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2024-045

Stock code: 3898 (H shares) Stock abbreviation: Times Electric (H shares)

Zhuzhou CRRC Times Electric Co., Ltd

Announcement on the change of core technical personnel

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

Important Content Notes:

Mr. Liu Yongjiang, the core technical personnel of Zhuzhou CRRC Times Electric Co., Ltd. (hereinafter referred to as "Times Electric" or "the Company"), recently ceased to serve as the director of the Company's Converter and Control Technology Center due to job transfer, and was no longer the core technical personnel of the Company. Mr. Liu Yongjiang has signed a "Confidentiality Agreement" and a "Non-compete Agreement" with the Company.

As of the disclosure date of this announcement, the company's production and operation and technology research and development work are carried out normally, and the change of core technical personnel will not adversely affect the company's technology research and development, production and operation.

First, the specific situation of the change of core technical personnel

Mr. Liu Yongjiang, the core technical personnel, is no longer the director of the company's converter and control technology center due to job transfer, and is no longer the company's core technical personnel, and Mr. Liu Yongjiang will not hold any position in the company and its subsidiaries after leaving the company.

(1) The specific situation of core technical personnel

Mr. Liu Yongjiang, born in 1985, is a Chinese national with no right of permanent residence abroad. He graduated from East China in 2008

Bachelor's degree in electrical engineering and automation, Jiaotong University; He graduated from Southwest Jiaotong University in 2011

Master's degree in force system and automation; Senior engineer. From July 2011 to April 2015,

He served as a product R&D engineer in the traction converter department of the company's technology center. He served as the company from April 2015 to March 2017

Leader of the System Group of the Traction Converter Department of the Rail Transit Technology Center. From March 2017 to May 2018, he served as the company's rail transit technology

Director of the Traction Converter Department of the Surgery Center. From May 2018 to March 2020, he served as the deputy director of the company's rail transit technology center.

From March 2020 to November 2020, he served as the deputy director of the company's product management center. November 2020 to 2023

In April, he was appointed as the director of the company's rail transit technology center, and in April 2023, he was appointed as the company's converter and control technology center

Director. Before his resignation, Mr. Liu Yongjiang was the director of the company's converter and control technology center and core technical personnel.

As of the disclosure date of this announcement, Mr. Liu Yongjiang does not directly hold shares of the Company, and he participates in the strategic placement collective asset management plan of the Science and Technology Innovation Board (hereinafter referred to as "Times Electric No. 1 Asset Management") through the employees of CICC Times Electric No. 1

plan") participated in the strategic placement of the company's IPO on the Science and Technology Innovation Board, holding 16.66% of Times Electric's No. 1 asset management plan

Tranche.

(2) Participated in R&D projects and patented technologies

The intellectual property rights that Mr. Liu Yongjiang participated in the research and development during his tenure in the company are all job achievements, and the ownership of the relevant intellectual property rights belongs to the company, and there are no disputes or potential disputes involving intellectual property rights such as patents, and no longer identifying him as a core technical person will not affect the integrity of the company's patents and other intellectual property rights.

(3) Confidentiality and non-competition restrictions

The confidentiality obligation was stipulated in the labor contract signed between the company and Mr. Liu Yongjiang, and the confidentiality agreement was signed. The confidentiality agreement clearly stipulates the confidentiality content, scope and duration of confidentiality, and clearly defines the confidentiality measures that need to be performed.

The Company formulated the Measures for the Administration of Non-Competition, and signed the Non-compete Agreement with Mr. Liu Yongjiang, stipulating that during the period of non-competition, he shall not directly or indirectly work in other units that produce the same or similar products, operate the same or similar business, use the same or similar technology or have a competitive relationship with the Company, nor shall he use them

Producing or assisting others in producing or assisting others in producing the same or similar products, utilizing the same or similar technology, or operating the same or similar business, or having a competitive relationship with others by their sole proprietorship or by other means, such as joint ventures, cooperation, partnerships, or other methods such as providing consulting services.

Second, the impact of the change of core technical personnel on the company

Through long-term technology accumulation and development, the company has established a complete R&D system. The company has a solid foundation of highly educated talents, and has cultivated a high-quality and efficient professional R&D talent team through a perfect talent training mechanism, which provides a good guarantee for the company to maintain technological advancement and continuous innovation capabilities. As of December 2023

On March 31, the number of domestic R&D personnel of the company was 3,180, accounting for 38.03% of the total number of domestic employees.

Among them, there are 10 core technical personnel. As of the disclosure date of this announcement, the company has a total of 9 core technical personnel, and the specific changes are as follows:

Period: Name of core technical personnel

Before this change, Wang Yeliu, Zhu Hongjun, Zhang Dongfang, Lv Yang, Liu Liangjie, Zhang Dinghua, Zhang Min, Liu Yongjiang,

Dou Zechun, Qi Yu

After this change, Wang Yeliu, Zhu Hongjun, Zhang Dongfang, Lv Yang, Liu Liangjie, Zhang Dinghua, Zhang Min, Dou Zechun,

Qi Yu

After the resignation of Mr. Liu Yongjiang, there is no change in the company's other key core technical personnel, and the company's overall R&D strength will not have a significant adverse impact due to Mr. Liu Yongjiang's resignation, and there is no adverse impact on the company's business development, technology research and development, product innovation, etc.

3. Measures taken by the company

As of the disclosure date of this announcement, the company's various R&D projects are proceeding normally. At present, the company's R&D team has a complete structure, sufficient reserve personnel, and the existing R&D team and core technical personnel can support the continuous research and development of the company's core technology in the future.

4. Verification opinions of the sponsor institution

After verification, the sponsor believes that:

As of the date of issuance of this verification opinion, Mr. Liu Yongjiang has completed the handover of relevant work, and his resignation will not be on the job

The company's R&D capabilities, core competitiveness and ability to continue operations had a material adverse impact. The patents that Mr. Liu Yongjiang participated in the research and applied for during his tenure are all the results of his employment, and the intellectual property rights belong to the company, and he has signed relevant confidentiality agreements and non-compete agreements with the company, and there are no disputes or potential disputes involving service inventions, nor do they affect the integrity of the company's intellectual property rights. The company's existing core technical personnel are generally stable, which can support the continuous research and development of the company's core technologies and innovative products in the future.

5. Attachments to online announcements

"China International Capital Corporation Limited's Verification Opinions on the Change of Core Technical Personnel of Zhuzhou CRRC Times Electric Co., Ltd."

The announcement is hereby made.

Board of Directors of Zhuzhou CRRC Times Electric Co., Ltd

September 27, 2024