KPMG Huazhen LLP

8th Floor, KPMG Tower (Special General Partnership)

Oriental Plaza Beijing, China

1 East Chang An Avenue 东长安街 1号

Beijing 100738 Oriental Plaza KPMG Building 8th Floor

China Postal code: 100738

Telephone +86 (10) 8508 5000 Telephone +86 (10) 8508 5000

Fax: +86 (10) 8518 5111 Fax: +86 (10) 8518 5111

Internet kpmg.com/cn URL kpmg.com/cn

About Zhuzhou CRRC Times Electric Co., Ltd

Special explanation of the occupation of non-operating funds and other related capital transactions in 2024

KPMG Huazhen No. 2501737

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

We were commissioned to audit Zhuzhou CRRC Times Electric Co., Ltd. in accordance with the auditing standards of the Chinese Certified Public Accountants

(hereinafter referred to as "CRRC Times Electric") financial statements for the year 2024, including the consolidated and parent as of December 31, 2024

The Company's Balance Sheet, Consolidated and Parent Income Statement, Consolidated and Parent Cash Flow Statement, Consolidated and Parent for 2024

The Company's statement of changes in shareholders' equity and the related notes to the financial statements, and issued a standard unqualified on March 28, 2025

See the audit report.

According to the China Securities Regulatory Commission, the Ministry of Public Security of the People's Republic of China, and the State-owned Assets Supervision and Administration Commission of the State Council

Guidelines for the Supervision of Listed Companies No. 8 - Funds of Listed Companies issued by the China Banking and Insurance Regulatory Commission (CBIRC).

Regulatory Requirements for Current and External Guarantees (CSRC Announcement [2022] No. 26) and the Shanghai

The requirements of the Self-Regulatory Guide for Listed Companies on the Stock Exchange No. 2 - Business Handling, prepared by CRRC Times Electric Company

The 2024 non-operating capital occupation and other related capital transactions of CRRC Times Electric Company attached to this special statement

Summary Table (hereinafter referred to as the "Summary Table").

It is the responsibility of CRRC Times Electric Company to compile and disclose the summary table to the outside world and ensure its authenticity, legitimacy and integrity

Allow. We audited CRRC Times Electric's 2024 financial statements on the amounts of items contained in the summary table on a sample basis

At the time of the statement, the accounting information provided by CRRC Times Electric Company and the relevant contents of the audited financial statements were checked

No inconsistencies were found in all material respects.

In order to better understand the non-operating capital occupation and other related capital transactions of CRRC Times Electric Company in 2024

In addition, the summary statements should be read in conjunction with the audited financial statements.

Zhuzhou CRRC Times Electric Co., Ltd

Summary of non-operating capital occupation and other related capital transactions in 2024

Amount unit: RMB 10,000 yuan

Accounting for non-operating capital Occupier and listed company Accounting for 2024 Beginning 2024 Cumulative 2024 Occupation 2024 Repayment 2024 Occupation at the end of 2024

Occupation of funds Accounts of the Municipal Company Balance of occupied funds Amount incurred (excluding interest) Interest of gold (if any) Accumulated amount Balance of occupied funds Cause Nature

Name Affiliation

Current Major Shareholder & —— —— —— - - - - - —— ——

its affiliates

Subtotal —— —— —— - - - - - —— ——

Former Majority Shareholder & —— —— —— - - - - - —— ——

its affiliates

Subtotal —— —— —— - - - - - —— ——

Total —— —— —— - - - - - —— ——

Zhuzhou CRRC Times Electric Co., Ltd

2024 Summary of Non-operating Funds Occupied and Other Related Capital Transactions (continued)

Amount unit: RMB 10,000 yuan

The listed company will be approved for the 2024 year, the year 2024, the year to 2024, the year 2024, the year of 2024, the year of 2024

Other related capital Name of the correspondent party The correspondent party and the accounting department of the listed accounting department The initial current capital has accumulated the current capital and the accumulated current capital The remaining current capital has formed the nature of the current transaction

Relationship of the gold correspondent company Balance (reweighted amount (excluding interest amount amount of gold Reason

Interest) (if any)

In addition to CRRC Zhuzhou Group, it is also the ultimate holding financial company

External ultimate controller control Shareholder control Monetary funds 29,430.28 297,462.59 680.19 129,928.76 197,644.30 Deposits Operating transactions

of companies

In addition to CRRC Zhuzhou Group, it is also subject to ultimate control

External ultimate controller control Shareholder control Notes receivable 45,605.72 229,351.40 - 113,053.65 161,903.47 Sales of goods Operating transactions

of companies

Notes receivable controlled by CRRC Zhuzhou - 54.90 - 54.90 - Sales of goods Operating transactions

Company shareholder control

In addition to CRRC Zhuzhou Group, it is also subject to ultimate control

External ultimate controller control Shareholder control Accounts receivable 221,729.66 1,014,225.72 - 866,261.89 369,693.49 Sales of goods Operating transactions

of companies

Accounts receivable controlled by CRRC Zhuzhou 4,368.30 10,274.48 - 8,526.51 6,116.27 Sales of goods Operating transactions

Majority shareholders and their company shareholders control

Subsidiary CRRC Zhuzhou Direct Controlling Shareholder Accounts receivable 8,668.19 25,245.65 - 29,758.57 4,155.27 Sales of goods Operating transactions

In addition to CRRC Zhuzhou Group, the receivables are also financed by the ultimate holding

External ultimate controller control Shareholder control Capital 162,547.06 240,010.08 - 263,533.53 139,023.61 Sales of goods Business transactions

of companies

Controlled by CRRC Zhuzhou Receivables 11,051.08 4,689.56 - 12,946.30 2,794.34 Sales of goods Operating transactions

The company's shareholders control the capital

CRRC Zhuzhou Direct Controlling Shareholder Receivables 5,214.63 36,088.06 - 15,972.71 25,329.98 Sales of goods Operating transactions

capital

In addition to CRRC Zhuzhou Group, it is also subject to ultimate control

Control by external ultimate controller Shareholder control Advance payments 11.19 736.47 - 566.85 180.81 Purchase of goods Operating transactions

of companies

Controlled by CRRC Zhuzhou Directly controlled Prepayment 222.00 0.64 - 222.00 0.64 Purchase of goods Operating transactions

Company shareholder control

Zhuzhou CRRC Times Electric Co., Ltd

2024 Summary of Non-operating Funds Occupied and Other Related Capital Transactions (continued)

Amount unit: RMB 10,000 yuan

Other related capital Name of the correspondent party Correspondent and listed listed company 2024 year 2024 year to 2024 2024 year to 2024 year to 2024 year end of the year Transaction formation Transaction nature

Accounting Section of the Accounting Section of the Related Relationship of the Gold Exchange Company The initial current funds to accumulate the amount of money transactions and also the accumulated gold transactions The balance of the current funds is the reason

The balance of the system (excluding interest) The amount of funds

Interest (e.g

Yes)

CRRC Zhuzhou Direct Controlling Shareholder Advance Payment - 22.13 - 21.99 0.14 Purchase of Commodities Operating transactions

In addition to CRRC Zhuzhou Institute Group, which is also subject to the ultimate holding of sales of goods/

Control by external ultimate controller Shareholder control Other receivables 47.77 10,409.71 - 8,402.11 2,055.37 Provision of services Operational transactions

of companies

Other receivables controlled by CRRC Zhuzhou 85.19 11,225.50 - 11,304.36 6.33 Sales of goods/business transactions

The company is controlled by shareholders to provide services

CRRC Zhuzhou Direct Controlling Shareholder Other Receivables 1,172.26 5,812.41 - 6,841.33 143.34 Sales of Commodities / Operating Transactions

Provision of labor services

In addition to CRRC Zhuzhou Group, it is also subject to the ultimate holding warranty/sales

Control by external ultimate controlling party Shareholder control Contract assets 8,817.64 15,233.76 - 7,997.05 16,054.35 Sale of goods Operating transactions

Majority shareholders and their companies

Subsidiaries Controlled by CRRC Zhuzhou Directly Controlled Contract Assets 28.20 163.11 - 0.23 191.08 Warranty/Sales Operating transactions

The company's shareholders control the sale of goods

CRRC Zhuzhou Direct Controlling Shareholder Contract Assets 135.09 1,287.93 - 135.09 1,287.93 Warranty/Sales Operating transactions

Sell goods

Except for CRRC Zhuzhou Group, which is also subject to the ultimate holding, other non-current warranties/sales

Assets controlled by shareholders 11,347.33 22,899.26 - 7,007.27 27,239.32 Commodities sold, business transactions

of companies that buy equipment

CRRC Zhuzhou controlled by the same direct holding of other non-current warranty/sales

Shareholders of the company control assets 523.32 310.38 - 794.66 39.04 Sale of goods, business transactions

Purchase equipment

CRRC Zhuzhou Institute Other non-current warranty/sales

Direct controlling shareholder Assets 2,270.77 146.13 - 1,516.89 900.01 Commodities sold, operating transactions

Purchase equipment

Zhuzhou CRRC Times Electric Co., Ltd

2024 Summary of Non-operating Funds Occupied and Other Related Capital Transactions (continued)

Amount unit: RMB 10,000 yuan

The correspondent and the listed company will be compensated for the year 2024 and the year 2024 and the year 2024

Other related capital Name of the correspondent of the municipal company The current funds at the beginning of the year Accumulated funds at the end of 2024 Transactions at the end of 2024

The amount of interest on the balance of the account (excluding interest) (e.g. the amount of the balance of the current account reason

Yes)

The major shareholders and their other than CRRC Zhuzhou are subject to ultimate control of long-term sales receivables/business activities

Subsidiaries Outside the group ultimate controlling party Shareholder control 11.80 - - - 11.80 Services to be provided

controlled companies

Long-term receivables of subsidiaries within the scope of consolidation of listed companies 125,352.51 9,017.46 202.34 1,597.97 132,974.34 Non-operating capital borrowing

Subsidiaries and their divisions

Subsidiaries Subsidiaries within the scope of merger Other receivables 49,147.15 92,463.32 1,462.00 72,695.84 70,376.63 Loans/non-operating funds

Divisional disbursement of expenses Transactions

Associated Natural Person —— —— —— - - - - - —— ——

Other Related Parties

and its affiliates—— —— —— - - - - - —— ——

karma

Total —— —— —— 687,787.14 2,027,130.65 2,344.53 1,559,140.46 1,158,121.86 —— ——

Note 1: The amount of monetary funds in this table does not include the transfer of current time deposits of the same depositor.

Note 2: The Group restated the 2023 figures as a result of the merger and acquisition of Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. in 2024 by a merger under the same control.

Page 4 of 5