Stock code: 688187 (A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2024-048

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

Zhuzhou CRRC Times Electric Co., Ltd

Regarding the holding subsidiary's foreign investment in medium and low voltage power devices

Announcement on the progress of the industrialization construction project

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.

1. The basic situation of foreign investment

Zhuzhou CRRC Times Electric Co., Ltd. (hereinafter referred to as the "Company") was released on September 22, 2022

On October 21, 2022, the 23rd meeting of the 6th session of the board of directors was held, and the first extraordinary shareholder in 2022 was held

The conference deliberated and passed the "Proposal on the Industrialization Construction Project of CRRC Times Semiconductor Medium and Low Voltage Power Devices", and agreed to the industrialization construction project of medium and low voltage power devices, with a total investment of about RMB 1,111,869 million, of which the first phase of the construction project of medium and low voltage power device industrialization (Yixing) (hereinafter referred to as the "Yixing sub-project") is implemented by Yixing CRRC Times Semiconductor Co., Ltd., a wholly-owned subsidiary of Zhuzhou CRRC Times Semiconductor Co., Ltd., with investment

The amount is approximately RMB582,583 million. For details of the above matters, please refer to the company's announcement on September 23, 2022

Announcement on the "Announcement on the Holding Subsidiaries' Foreign Investment in the Industrialization Construction Project of Medium and Low Voltage Power Devices" (Announcement No.: 2022-035) disclosed on the website of the Shanghai Securities Exchange (www.sse.com.cn).

Second, the progress of foreign investment

At present, part of the production line of the Yixing sub-project is undergoing process equipment commissioning and has entered the trial production stage.

3. Follow-up matters and risk warning

The company will fulfill its information disclosure obligations in a timely manner in accordance with the requirements of relevant laws and regulations according to the progress of follow-up projects. Investors are advised to invest rationally and pay attention to investment risks.

The announcement is hereby made.

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

October 21, 2024