Stock code: 688187 (A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2024-043

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

Zhuzhou CRRC Times Electric Co., Ltd

About cash management using idle own funds

of the announcement

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.

Zhuzhou CRRC Times Electric Co., Ltd. (hereinafter referred to as the "Company" or "Times Electric") held the 11th meeting of the 7th session of the board of directors and the 8th meeting of the 7th board of supervisors on September 27, 2024, and deliberated and approved the "Proposal on the Use of Idle Own Funds for Cash Management", under the condition that it does not affect the normal operation of the company and ensure the safety of funds, the company intends to carry out cash management of idle own funds, and the use limit does not exceed RMB 1,500,000 The temporary idle own funds of 10,000 yuan or equivalent foreign currency (including this amount) can be used to purchase cash management products with high security, good liquidity and guaranteed principal from cooperative banks, and the use period shall be valid within 12 months from the date of deliberation and approval by the board of directors of the company. Within the scope of the aforementioned quota and use period, the funds can be used on a rolling basis.

The board of directors authorizes the chairman of the board of directors or his authorized person to exercise the investment decision-making power and sign relevant documents within the validity period of the above-mentioned quota and resolution, and the specific matters shall be organized and implemented by the company's financial center.

1. Overview of cash management this time

(1) Investment purpose

In order to improve the efficiency of the use of the company's own funds, the rational use of idle own funds, increase the company's cash asset income, and maximize the interests of shareholders.

(2) The source of funds and the amount of investment

The funds used by the Company for cash management this time are idle own funds of the Company or its wholly-owned and holding subsidiaries, with a quota of no more than RMB 1,500,000 or equivalent foreign currency (inclusive), and the funds can be recycled during the validity period of the above quota and resolution.

(3) Varieties of investment products

Purchase cash management products with high security, good liquidity and guaranteed principal (including but not limited to the purchase of structured deposits, large-value certificates of deposit, time deposits, call deposits, etc.).

(4) The validity period of the resolution

Valid for 12 months from the date of approval by the company's board of directors.

(5) Methods of implementation

The board of directors authorizes the chairman of the board of directors or his authorized person to exercise the investment decision-making power and sign relevant documents within the validity period of the above-mentioned quota and resolution, and the specific matters shall be organized and implemented by the company's financial center.

(6) Information disclosure

The Company will timely fulfill its information disclosure obligations in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange and other relevant laws and regulations.

(7) Explanation of the affiliation

The trustees of the cash management products that the company intends to purchase are all banks and have no affiliated relationship with the company.

2. Investment risks and risk control measures

(1) Investment risk

The company intends to invest in cash management products with high security and good liquidity, but the financial market is greatly affected by the macroeconomy, and it is not excluded that there is a certain systemic risk in this investment.

(2) Risk control measures

1. The company will strictly abide by the principle of prudent investment to screen investment objects, mainly select good reputation, large scale,

Banks that have the ability to guarantee the safety of funds;

2. The company will track the investment direction of cash management products in a timely manner according to market conditions, and if potential risk factors are found, it will organize an assessment, and take corresponding preservation measures in a timely manner for the evaluation results to control investment risks.

3. Impact on the company's daily operations

1. Based on the principles of standardized operation, risk prevention, prudent investment, value preservation and appreciation, the company uses idle own funds to purchase cash management products issued by banks or legal financial institutions, and will not affect the company's normal production and operation if it does not affect the company's normal operation and ensure the safety of funds.

2. The company conducts cash management of idle own funds, which can obtain certain investment income, which is conducive to further improving the overall performance level of the company and seeking a better return on investment for the company and shareholders.

IV. Review Procedure

On September 27, 2024, the Company held the 11th meeting of the 7th session of the Board of Directors and the 8th meeting of the 7th Board of Supervisors, and deliberated and approved the "Proposal on the Use of Idle Own Funds for Cash Management", and agreed that the Company will carry out cash management of idle own funds, and use temporarily idle own funds with a limit of no more than RMB 1500,000 or equivalent foreign currency (including the principal amount) to purchase cash management products with high security, good liquidity and guaranteed principal from cooperative banks. The period of use is valid for 12 months from the date of approval by the board of directors of the company. Within the scope of the aforementioned quota and use period, the funds can be used on a rolling basis.

The announcement is hereby made.

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

September 27, 2024