Stock code: 688187 (A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2024-049

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

Zhuzhou CRRC Times Electric Co., Ltd

Regarding the change of company type and the registration of industrial and commercial change

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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 13th meeting of the 7th session of the board of directors on October 30, 2024, and deliberated and passed the "Proposal on Changing the Type of Company". The details are as follows:

According to the provisions of the "People's Republic of China Foreign Investment Law", "People's Republic of China Regulations for the Implementation of the Foreign Investment Law" and other laws, regulations and normative documents, the company intends to apply to the market supervision and management department to change the enterprise type to "joint stock limited company (Hong Kong, Macao and Taiwan investment, listing)". The above changes are subject to the final approval of the market supervision and administration department.

The change still needs to be submitted to the company's shareholders' meeting for deliberation. The board of directors proposes that the shareholders' meeting authorize the company's management and relevant personnel to handle matters related to industrial and commercial changes.

The announcement is hereby made.

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

October 30, 2024