The Board of China Development Bank Financial Leasing Co., Ltd. announced that on 26 October 2023 (after trading hours), the Company (as the Lessor) entered into the Finance Lease Agreement with the Lessee, pursuant to which (i) the Lessor purchased the Leased Assets from the Lessee at a consideration of RMB 700,000,000, and (ii) the Lessor agreed to lease the Leased Assets to the Lessee with a lease period of 60 months. According to Chapter 14 of the Listing Rules, as the highest applicable percentage ratio of the transaction under the Finance Lease Agreement is higher than 5% but lower than 25%, such transaction constitutes a discloseable transaction of the Company and is subject to the announcement requirement but is exempt from the shareholders' approval requirement under Chapter 14 of the Listing rules. Details of the Finance Lease Agreement are summarised as follows: Date.

26 October 2023. Parties. "Lessee" the Company.

"Lessee" Chang De Shi De Yuan Chan Ye Tou Zi Xian Gong Si"), a state-owned enterprise located in Hunan Province, the PRC, which is principally engaged in the businesses of investment activities with its own funds; land remediation services; leasing of residential property; park management services; project management services, etc. To the best of the Directors' knowledge, information and belief after having made all reasonable enquiries, the Lessee and its ultimate beneficial owner are independent third parties of the Company and its connected persons. Leased Assets.

The Leased Assets are the new energy vehicle production line of Changde CNR ("Chang De Zhong Che") in Hunan Province, thePRC. Leased Assets and Their Ownership. The Lessee has agreed to transfer and/or change the registration of the Leased Assets to theLessor during the lease period at a total transfer consideration of RMB 700,000,000.

The consideration will be paid by the Lessor's self-owned funds and/or commercial loans. At the same time, the Lessee has agreed to lease back the Leased Assets to the lessee. The Lessee is entitled to the possession, usage and benefits of such assets.

Upon expiration of the lease period, the Lessee may purchase back the Leased Assets from theLessee at a consideration of R RMB 100 in nominal value.