Stock code: 688187 (A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2024-059

Stock code: 03898 (H shares) Stock abbreviation: Times Electric (H shares)

Zhuzhou CRRC Times Electric Co., Ltd. in relation to the same controller

Announcement on the completion of the internal transfer of shares by different entities under the system

The board of directors, all directors and relevant shareholders 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:

Zhuzhou CRRC Times Electric Co., Ltd. (hereinafter referred to as the "Company" or "Times Electric")

On November 29, 2024, the "Zhuzhou CRRC Times Electric Co., Ltd. Regarding the Same Controller" was disclosed

In the indicative announcement on the internal transfer of shares and changes in rights and interests of different entities under control (Announcement No.: 2024-053), the company's shareholder CRRC Asset Management Co., Ltd. (hereinafter referred to as "CRRC Asset Management") intends to transfer 9,380,769 shares of the company held by the company, accounting for 0.66% of the company's total share capital at that time, to the company's controlling shareholder, CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. (hereinafter referred to as "CRRC Zhuzhou Institute") through block trading.

As of the disclosure date of this announcement, CRRC Asset Management has transferred its shares of the company through block trading

9,380,769 shares were transferred to CRRC Zhuzhou Exchange. The internal share transfer plan has been implemented. CRRC Asset Management no longer holds shares of the company, and the proportion of shares held by CRRC Zhuzhou has decreased from 0.66% to 0, and the proportion of shares held by CRRC Zhuzhou has increased from 41.87% to 42.68% of the company's shares (due to the repurchase and cancellation of H shares during the internal transfer of shares, the company's total share capital has decreased from 1,411,540,112 shares to 1,406,652,812 shares, so the proportion of shares held by shareholders before the transfer is 1,411,540,112 shares The shareholding ratio of shareholders after the transfer is calculated based on the current total share capital of 1,406,652,812 shares, the same below).

This equity change is an internal shareholding adjustment of different entities under the control of the same controller, and does not involve it

Reducing holdings to the market without touching the tender offer. CRRC Co., Ltd. indirectly holds 48.05% of the company's shares, unchanged.

On November 29, 2024, the company disclosed the "Zhuzhou CRRC Times Electric Co., Ltd.'s Notice

1. Indicative announcement on the internal transfer of shares and changes in rights and interests of different entities under the control of the controller (Announcement No.:

2024-053), the company's shareholder CRRC Asset Management intends to hold 9,380,769 shares of the company, accounting for the company's shares

At that time, the total share capital ratio was 0.66%, which was transferred to CRRC Zhuzhou Institute, the controlling shareholder of the company, through a block transaction.

According to the notice of the relevant shareholders, the implementation of the above plan has been completed, and the implementation results of the above plan are announced as follows:

Recently, the company received a notice from CRRC Asset Management that the implementation of the above plan has been completed

9,380,769 shares of the company held by CRRC Zhuzhou were transferred to CRRC Zhuzhou through a block transaction, and after the transfer was completed,

CRRC Asset Management no longer holds shares in the company, and the proportion of shares held in the company has decreased from 0.66% to 0

Zhou holds 600,381,485 shares of the company, and the proportion of shares held in the company has increased from 41.87% to 42.68%.

1. The basic information of the internal transfer entity before the transfer

Name of shareholder Identity of shareholder Number of shares held (shares) Shareholding ratio Source of current shares

Shareholders below 5% 9,380,769 0.66% Pre-IPO acquisition: 9,380,769

share

CRRC Assets

Limited management

firm

Note: Due to changes in the company's total share capital during the internal transfer of shares, the "shareholding ratio" in the above table is as of November 2024

The total share capital of the company on the 29th was 1,411,540,112 shares.

Shareholdings of other entities under the control of the same controller:

Name of shareholder Number of shares held (shares) Shareholding ratio Reasons for the formation of the concerted action relationship

Group 1 CRRC Zhuzhou Power 591,000,716 41.87% is CRRC Corporation Limited

The Locomotive Research Institute is a wholly owned subsidiary

Limited to companies

CRRC Zhuzhou Power 10,000,000 0.71% is CRRC Corporation

Locomotive Co., Ltd. is a wholly-owned subsidiary

CRRC Asset Management 9,380,769 0.66% is CRRC Limited

Ltd. is a wholly-owned subsidiary

CRRC Hong Kong 65,460,000 4.64% CRRC Limited

Capital Management Co., Ltd. is a wholly-owned subsidiary

firm

Total 675,841,485 47.88% —

Note: Due to the change in the company's total share capital during the internal transfer of shares, the "shareholding ratio" in the above table is based on the company's total share capital of 1,411,540,112 shares as of November 29, 2024.

2. The results of the implementation of the internal transfer plan

(1) Results of the implementation of the internal transfer plan:

In other cases: the implementation of the internal transfer plan is completed

Number of internal transfers Internal transfer ratio Transferor Transfer price area Transfer completion Number of current holdings Current holdings

Name of Shareholder (Shares) Example Period of Internal Transfer Interim Total Amount of Transfer (RMB) Situation (Shares) Proportion of Shares

(RMB/Share)

CRRC Asset Management 9,380,769 0.66% 2024/12/26~ Bulk 47.57- 446,243,181.33 0 0% completed

Management Co., Ltd. 2024/12/26 Easy 47.57

Note: Due to the change in the total share capital of the Company during the internal transfer of shares, the "Internal Transfer Ratio" in the above table is calculated based on the total share capital of the Company of 1,411,540,112 shares as of November 29, 2024.

Whether the actual shareholding reduction is consistent with the previously disclosed shareholding reduction plan and commitments √ yes □ no

Upon the expiration of the time period for the reduction, whether the reduction has not been implemented □ has not been implemented √ has been implemented

Whether the actual reduction has not reached the minimum number (proportion) of the shareholding reduction plan □ has not reached √ has been reached Whether the shareholding reduction plan has been terminated in advance □ Yes √ No

The internal transfer plan has been implemented.

The announcement is hereby made.

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

December 28, 2024