Sany Heavy Equipment International Holdings Company Limited (Stock Code: 631) issued an announcement dated 31 October 2025 regarding several changes to its board and management structure, effective the same date. The announcement highlights resignations, new appointments, and adjustments in board committees.

Mr. Qi Jian has resigned as executive director and vice chairman while retaining his role as chief executive officer. According to the announcement, there is no disagreement with the board, and no matter regarding his departure needs to be brought to shareholders’ attention. He will continue overseeing the company’s strategic implementation and day-to-day operations as chief executive officer.

Mr. Liang Zaizhong has resigned as chairman of the board but remains an executive director. The announcement expresses gratitude for his contributions during his tenure as chairman.

Mr. Zhou Fugui has been appointed as an executive director and chairman of the board. Mr. Zhou, aged 63, joined Sany Group Co., Ltd. in 1994 and has extensive experience in key managerial positions, including serving as director and vice president of Sany Heavy Industry Co., Ltd. He currently chairs Sany Heavy Energy Equipment Co., Ltd. and holds equity interests in various related entities. Mr. Zhou has entered into a three-year service contract, will serve without a fee, and will be subject to retirement by rotation and re-election.

Further board committee changes include the departure of Mr. Liang as chairman of the nomination committee and Mr. Qi as member and chairman of the ESG committee and member of the strategic investment committee. Mr. Zhou has taken over these positions as chairman of the nomination and ESG committees and as a member of the strategic investment committee.

Additionally, Mr. Qi has ceased to act as the authorised representative of Sany Heavy Equipment, and Mr. Zhou has been appointed to that position in his place. The announcement states there is no other information requiring disclosure under the Hong Kong Listing Rules.