CRCC High-Tech Equipment Corporation Limited (Stock Code: 1786) has announced that its Board convened on 3 November 2025 and passed resolutions relating to the proposed election of non-employee directors for its fourth session and the renewal of a Financial Services Framework Agreement with CRCC Finance.

In view of the expiration of the third session of its Board, the company is proceeding with a re-election for its fourth session. Eight candidates have been nominated: three for executive director positions (Mr. Tong Pujiang, Mr. Xiang Daqiang, and Mr. Chen Yongxiang), two for non-executive director positions (Mr. Lyu Jing and Mr. Xie Huagang), and three for independent non-executive director positions (Mr. Wu Yuntian, Mr. Na Pengjie, and Ms. Chu Ching). Subject to approval at the upcoming extraordinary general meeting, each non-employee director will serve a three-year term.

Additionally, a new Financial Services Framework Agreement with CRCC Finance has been entered into, replacing the previous agreement set to expire on 31 December 2025. Under the renewed terms, CRCC Finance will continue to provide deposit services from 1 January 2026 to 31 December 2028. The proposed maximum daily balance for deposits, including accrued interest, has been set at RMB60 million for each of the years ending 31 December 2026, 2027, and 2028. As stated, interest rates offered by CRCC Finance shall be no less favorable than those offered by major PRC commercial banks.

CRCC, which directly and indirectly holds approximately 65% of CRCC High-Tech Equipment’s issued share capital, is considered a connected party under the Listing Rules. The company’s Board and independent non-executive directors have concluded that the terms of the renewed agreement remain fair and reasonable and are beneficial to the best interests of shareholders. The final election results for the board and the details on these continuing connected transactions will be subject to further shareholder endorsement at the extraordinary general meeting.