Stock code: 688187 (A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2025-002

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

Zhuzhou CRRC Times Electric Co., Ltd

2024 Annual Results Express 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.

The main financial data of Zhuzhou CRRC Times Electric Co., Ltd. (the "Company") in 2024 contained in this announcement are preliminary accounting data, which have not been audited by an accounting firm, and the specific data are subject to the data disclosed in the Company's 2024 annual report, and investors are reminded to pay attention to investment risks.

1. Main financial data and indicators for 2024

Unit: RMB 10,000 yuan

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Note: 1. Explanation of the reasons for the retrospective adjustment at the beginning of the reporting period: The company acquired 100% equity of Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. in December 2024 and included it in the scope of consolidated financial statements. The transaction constitutes a business combination under the same control, so the relevant financial data at the beginning of the period are retrospectively adjusted.

2. The above financial data and indicators are filled in with consolidated statement data, but unaudited, and the final results are subject to the 2024 annual report disclosed by the company.

2. Explanation of operating performance and financial situation

(1) The operating situation, financial situation and the main reasons affecting the operating performance in the reporting period

During the reporting period, the company thoroughly implemented the business philosophy of combining high-quality development and high-level safety, firmly served the national strategy, seized the development opportunities of "intelligence, digitalization and greening", and always insisted on putting profitability improvement in the first place. The company has laid a solid foundation and expanded new ones in the field of rail transit, and has taken advantage of the momentum in the field of emerging equipment to achieve overall business efficiency improvement.

During the reporting period, the company achieved operating income of RMB 2,490,893.75 million, a year-on-year increase of 13.42%; The operating profit was RMB4302.3911 million, a year-on-year increase of 32.28%; the total profit was RMB4332.9786 million, a year-on-year increase of 31.52%; the net profit attributable to the owners of the parent company was RMB3702.5859 million, a year-on-year increase of 21.77%; The net profit attributable to owners of the parent company after deducting non-recurring gains and losses was RMB3129.5491 million, representing a year-on-year increase of 24.16%; Basic earnings per share was RMB2.62, representing a year-on-year increase of 21.86%; The weighted average return on equity was 9.31%, a year-on-year increase of 0.83 percentage points.

The total assets at the end of the reporting period were RMB6,455,202.62 million, an increase of 20.03% over the beginning of the reporting period. the equity attributable to owners of the parent company was RMB4,150,226.72 million, an increase of 12.17% over the beginning of the reporting period; Net assets per share attributable to owners of the parent company were RMB29.50, an increase of 12.94% from the beginning of the reporting period.

(2) The main reasons for the increase or decrease of more than 30% in the main data and indicators

The operating profit in the reporting period increased by 32.28% over the same period last year, and the total profit increased by 31.52% over the same period last year, mainly due to the growth of gross profit due to the growth of the company's revenue scale.

3. Risk Warning

The company does not have any significant uncertainties that affect the accuracy of the content of this performance report.

The main financial data of 2024 contained in this announcement are preliminary accounting data, which have not been audited by accounting firms, and may be different from the company's audited 2024 annual report disclosure data, and the specific data are subject to the company's 2024 annual report, please pay attention to investment risks.

The announcement is hereby made.

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

February 27, 2025