Beijing Jingcheng Machinery Electric Company Limited announced executive changes. The company announced that it received the written resignation applications from Mr. Wang Jun, chairman of the Board, and Mr. Li Junjie, general manager of the Company. Due to work related reasons, Mr. Wang tendered his resignation from the positions of executive director and chairman of the Board of the Company, member and chairman of the Strategy Committee of the Board, member of the Remuneration and Appraisal Committee of the Board, and he will not take up any positions of the Company after his resignation.

The number of Board members will not fall below the minimum quorum of convening Board meetings due to the resignation of Mr. Wang and the normal operation of the Board is ensured. Mr. Li tendered his resignation from the positions of general manager of the Company and member of the Nomination Committee due to job changes. The Board fully respects the decision of Mr. Wang and Mr. Li, and has accepted their resignations which take effect from 28 April 2023.

On 28 April 2023, the Company convened the twelve meeting of the tenth session of the Board, at which the "Resolution on the Change of Chairman of the Board of Directors of the Company" and the "Resolution on the Appointment of the General Manager by the Company" were considered and approved, Mr. Li was elected as the chairman of the tenth session of the Board of the Company, Mr. Zhang Jiheng was appointed as the general manager of the Company, Mr. Li was unanimously elected as the chairman of the Strategy Committee and a member of the Remuneration and Appraisal Committee of the tenth session of the Board, and Mr. Zhang was elected as a member of the Nomination Committee by the Board. The term of office of the above positions all commence from 28 April 2023 to the 2022 annual general meeting.