securities code: 688187 (a shares) securities abbreviation: times electric (a shares) announcement no: 2024-016

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

Zhuzhou CRRC Times Electric Co., Ltd.

Announcement on Change of Core Technical Staff

the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.

Important Note:

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

Technician Mr. Gan Weiwei was recently appointed as the deputy general manager of the company and no longer concurrently serves as the director of the rail transit technology center. Mr. Liu Yong was transferred from the director of the company's data and intelligent technology center to the general manager of the company's wholly-owned subsidiary Hunan Zhongcar Times Communication Signal Co., Ltd. due to job adjustment; mr. Liu Liangjie was transferred from the director of the company's UK R & D center to the director of the company's data and intelligent technology center, Mr. Dou Zechun was the director of the company's rail transit technology center, and Mr. Qi Yu was the director of the company's UK R & D center. Based on the division of jobs and responsibilities, the company no longer identified Mr. Gan Weiwei and Mr. Liu Yong as the core technical personnel, and continued to identify Mr. Liu Liangjie as the core technical personnel, mr. Dou Zechun and Mr. Qi Yu are newly identified as core technical personnel.

● As of the disclosure date of this announcement, the company's production and operation and technology research and development work are carried out normally. The adjustment of core technical personnel will not adversely affect the company's technology research and development, production and operation.

the specific situation of the change of core technical personnel in 1.

the company's core technical personnel, Mr. gan weiwei, was recently appointed as the company's deputy general manager and no longer concurrently served as the director of the rail transit technology center. Mr. liuyong was transferred from the director of the company's data and intelligent technology center to the general manager of the company's wholly-owned subsidiary, Hunan zhongcar times communication signal co., ltd. due to job adjustment; mr. Liu Liangjie was transferred from the director of the company's UK R & D center to the director of the company's data and intelligent technology center, Mr. Dou Zechun as the director of the company's rail transit technology center, and Mr. Qi Yu as the director of the company's UK R & D center. Based on the division of jobs and responsibilities, the company no longer identifies Mr. Gan Weiwei and Mr. Liu Yong as the core technical personnel, continues to identify Mr. Liu Liangjie as the core technical personnel, and newly identifies Mr. Dou Zechun and Mr. Qi Yu as the core technical personnel.

the specific situation of the adjustment of the core technical personnel of the (I)

Mr. Gan Weiwei recently stopped serving as the director of the Rail Transit Technology Center due to job adjustment, and his work has been handed over. Mr. Liu Yong recently ceased to be the director of the Data and Intelligent Technology Center due to post adjustment, and his work has been handed over. Therefore, based on the division of jobs and responsibilities, the company no longer identifies Mr. Ganweiwei and Mr. Liu Yong as core technical personnel. As of the disclosure date of this announcement, Mr. Ganweiwei and Mr. Liu Yong are still in the company.

Mr. Gan Weiwei, born in 1984, is of Chinese nationality and has no right of permanent residence abroad. He graduated from Xi'an Jiaotong University in June 2007 with a bachelor's degree in electrical engineering and automation. In July 2010, he graduated from Xi'an Jiaotong University with a master's degree in electrical engineering. Senior engineer. In July 2010, he worked in the comprehensive management department of the company's technical center. From January 2012 to September 2017, he served as engineer and leader of inverter control group of basic platform R & D center of CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. From September 2017 to March 2021, he served as the director and deputy director of the transmission control department of the company's rail transit technology center, and from March 2021 to March 2022, he served as the secretary and deputy director of the party branch of the company's rail transit technology center. From March to April 2023, he served as the secretary and deputy general manager of the party branch of the company's railway business department, and from April 2023 to April 2024, he served as the company's deputy general manager.

Mr. Liu Yong, born in 1981, of Chinese nationality, has no right of permanent residence abroad. He graduated from Xiangtan University in 2003 with a bachelor's degree in mechanical design, manufacturing and automation; in 2005, he graduated from Harbin Institute of Technology with a master's degree in mechanical design and theory; in 2010, he graduated from Harbin Institute of Technology with a doctor's degree in mechanical design and theory; Professor-level senior engineer. From June 2010 to April 2011, he served as the inverter control engineer of the transmission control department of the company's technical center. From May 2011 to December 2013, he worked as an inverter control engineer in the converter control platform department of the Foundation and Platform R & D Center of CRRC Zhuzhou Institute. From January 2014 to March 2016, he served as the leader of the inverter control group of the converter control platform department of the Foundation and Platform R & D Center of CRRC Zhuzhou Institute. From April 2016 to June 2017, he served as the director of the Converter Control Platform Department of the Foundation and Platform R & D Center of CRRC Zhuzhou. From July 2017 to November 2020, he served as Deputy Director of the Company's Data and Intelligent Technology Center. From November 2020 to March 2024, he served as Director of the Company's Data and Intelligent Technology Center. Since March 2024, he has been the general manager of Hunan Zhongche Tong.

as of the disclosure date of this announcement, Mr. Ganweiwei and Mr. Liu Yong do not hold shares in the company.

1. R & D projects and patented technologies involved

The intellectual property rights that Mr. Gan Weiwei and Mr. Liu Yong participated in research and development during their tenure in the company are the results of their positions. The ownership of relevant intellectual property rights belongs to the company. There are no disputes or potential disputes involving patents and other intellectual property rights. The core technical personnel will not affect the integrity of the company's patents and other intellectual property rights.

2. Confidentiality and non-competition situation

After the adjustment of the core technical personnel, Mr. Gan Weiwei and Mr. Liu Yong are still working in the company. The company has stipulated the confidentiality responsibility in the labor contract signed with Mr. Gan Weiwei and Mr. Liu Yong, and at the same time signed the "Confidentiality Agreement". The confidentiality agreement clearly stipulates the confidential content, scope and duration of confidentiality, and clearly defines the confidentiality measures to be performed, including but not limited to not disclosing, informing, publishing, publishing, transferring or any other means to make any third party aware of the business secret information with confidentiality obligations, do not use the trade secrets you have to work part-time or hold any position in a competitor that competes with the company or uses similar technology, and do not produce or operate products or businesses that compete with the company or use similar technology. When leaving the company, all property belonging to the company should be returned, including all carriers that record the company's secret information. If you fail to perform the confidentiality obligations stipulated in the confidentiality agreement, you shall be liable for breach of contract, and if the company suffers losses, you shall be liable for compensation.

in addition, the company has also formulated the "non-competition management measures" and signed the "non-competition agreement" with mr. gan weiwei and mr. liu yong respectively, stipulating that during the non-competition period, they shall not directly or indirectly hold positions in other units that produce the same or similar products, operate the same or similar businesses, use the same or similar technologies or have competitive relations with the company, nor shall it use its own sole proprietorship or joint venture, cooperation, partnership or other methods such as providing consulting services to produce or assist others to produce the same or similar products as the company, use the same or similar technology, operate the same or similar business, or have a competitive relationship. Products, businesses, technologies.

(II) new core technical staff

Mr. Dou Zechun, born in March 1985, is of Chinese nationality and has no right of permanent residence abroad. In June 2007, he graduated from the School of Electrical Engineering of Hohai University with a bachelor's degree in automation; in May 2023, he graduated from the School of Business Administration of Central South University with a master's degree. Senior engineer. From August 2007 to September 2009, he worked in the Transmission Technology Department of the Company's Technology Center, from October 2009 to June 2011 in the Industrial Transmission Department of the Company's Technology Center, from June 2011 to February 2013 in the UK Dynex Power Semiconductor R & D Center, from March 2013 to March 2018 in the Module Design Engineer and Product Supervisor of the Company's Semiconductor Division, and from April 2018 to April 2019 in the Deputy Minister of IGBT Module Technology Department of the Company's Semiconductor Division, from May 2019 to February 2021, he served as Deputy Director of the Company's Industrial Transmission Technology Center, Deputy Director of the Company's Variable Flow and Control Technology Center from March 2021 to April 2024, and Director of the Company's Rail Transit Technology Center since April 2024.

Mr. Qi Yu, born in August 1987, is of Chinese nationality and has no right of permanent residence abroad. In June 2009, he graduated from the School of Electrical and Information Engineering of Hunan University with a bachelor's degree in electrical engineering and automation; in December 2014, he graduated from the School of Electrical and Electronic Engineering of Huazhong University of Science and Technology with a doctor's degree in electrical engineering (power electronics). Senior engineer. From December 2014 to July 2017, he served as the module electrical engineer of the converter module platform department of the foundation and platform research and development center of CRRC Zhuzhou research institute, from July 2017 to September 2019, he served as the power electronic transformer system engineer of the energy internet technology department of the foundation and platform research and development center of CRRC Zhuzhou research institute, and from September 2019 to January 2022, he served as the director of the (expatriate) rail transit converter technology department of the company's UK research center, from December 2019 to January 2022, he was also the Deputy Minister of the Converter Basic Technology Department of the Company's Rail Transit Technology Center, the Minister of the Converter Basic Technology Department of the Company's Rail Transit Technology Center from January 2022 to April 2024, and the Director of the Company's UK R & D Center since April 2024.

as of the disclosure date of this announcement, Mr. Dou Zechun, Mr. Qi Yu does not hold shares of the company.

the impact of the change of 2. core technical personnel on the company

Through long-term technology accumulation and development, the company has established a complete research and development system. The company has a solid foundation of highly educated talents. Through a perfect talent training mechanism, it has cultivated a team of high-quality and efficient professional R & D talents to ensure the company's technological advancement and continuous innovation capabilities. As of December 31, 2023, the number of research and development personnel in the company was 3,180, accounting for 38.03 of the total number of domestic employees, of which 10 were core technical personnel. As of the disclosure date of this announcement, the company has 10 core technical personnel, and the specific changes are as follows:

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Mr. Gan Weiwei and Mr. Liu Yong will no longer be identified as core technical personnel after the post adjustment, Mr. Liu Liangjie will continue to be identified as core technical personnel, and Mr. Dou Zechun and Mr. Qi Yu will be identified as core technical personnel. Other key core technical personnel of the company have not changed. The overall R & D strength of the company will not have significant adverse effects due to the fact that Mr. Gan Weiwei and Mr. Liu Yong are no longer identified as core technical personnel, there is no adverse impact on the company's business development, technology research and development, product innovation, etc.

Measures taken by 3. companies

as of the disclosure date of this announcement, the company's research and development projects in normal. At present, the company's research and development team structure is complete, the reserve staff is sufficient, the existing research and development team and core technical personnel can support the company's future core technology continuous research and development.

4. sponsor verification opinions

After verification, the sponsor believes that:

the company's core technical personnel are generally stable, and the existing core technical personnel can support the company's continuous research and development of core technologies and innovative products in the future. the change of core technical personnel will not have a significant adverse impact on the company's daily operation, core competitiveness and sustainable operation ability.

5. Internet Announcement Attachment

Verification Opinions of China International Capital Corporation on the Change of Core Technical Personnel of Zhuzhou CRRC Times Electric Co., Ltd.

It is hereby announced.

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

11 April 2024