Zhuzhou CRRC Times Electric Co., Ltd. has issued an announcement regarding the resignation of an independent director. The board of directors recently received a written resignation letter from Mr. Lin Zhaofeng, an independent director of the company. Mr. Lin Zhaofeng has applied to resign from his position as an independent director of the eighth session of the board of directors due to other work commitments, and will simultaneously step down from his roles as chairman of the audit committee, chairman of the remuneration committee, and member of the risk control committee of the eighth session of the board of directors. Following his resignation, Mr. Lin Zhaofeng will no longer hold any position at the company.

Basic Information on Early Departure

According to relevant provisions of the Company Law of the People's Republic of China, the Measures for the Administration of Independent Directors of Listed Companies, and the Articles of Association of Zhuzhou CRRC Times Electric Co., Ltd., Mr. Lin Zhaofeng's resignation will not cause the number of board members to fall below the statutory minimum, but it will result in the company having no independent director with accounting expertise. To ensure the standardized operation of the company's board of directors and its relevant specialized committees, Mr. Lin Zhaofeng's resignation will take effect only after the shareholders' meeting elects a new independent director. Before the company's shareholders' meeting elects a new independent director, Mr. Lin Zhaofeng will continue to perform his duties as an independent director and as a member of the relevant board committees in accordance with applicable laws, regulations, and the Articles of Association.

Impact of the Departure on the Company

As of the date of this announcement, Mr. Lin Zhaofeng does not hold any shares in the company and has no unfulfilled public commitments. His resignation will not affect the normal operation of the board of directors, nor will it have an adverse impact on the company's daily production and operations. During his tenure as an independent director, Mr. Lin Zhaofeng fulfilled his duties with dedication and diligence, fully performing his responsibilities as an independent director and member of the relevant specialized committees. The board of directors expresses its sincere gratitude to Mr. Lin Zhaofeng for his valuable contributions to the company's development during his term of office!