The board of directors of China High Speed Transmission Equipment Group Co., Ltd. announced that Mr. Chen Shimin and Mr. Zhu Junsheng have tendered their resignation as the independent non-executive Directors with effect from 1 December 2016 due to Mr. Chen's focus on other commitments, and Mr. Zhu's age and his focus on other commitments. Following their resignations, Mr. Chen has ceased to be the chairman of the remuneration committee and a member of the audit committee of the Company, and Mr. Zhu has ceased to be a member of the audit committee and a member of the nomination committee of the Company. The Board announced that Mr. Hu Yueming has tendered his resignation as the chief executive officer of the Company with effect from 1 December 2016 due to his age, but he will remain as the chairman of the Board.

The Board further announced that Mr. Hu has been re-designated from the position of executive Director to non-executive Director with effect from 1 December 2016. He will remain as the chairman of the Board, an authorized representative under Rule 3.05 of the Rules Governing the Listing of Securities (the of The Stock Exchange of Hong Kong Limited, and the chairman of the nomination committee of the Company. The Board announced that the Board has appointed Ms. Zheng Qing and Mr. Yuen Chi Ping as an executive Director and a non-executive Director respectively with effect from 1 December 2016.

Ms. Zheng has been a member of the Association of Chartered Certified Accountants since April 2002. Ms. Zheng was the financial controller and secretary to the board of directors of Junma Tyre Cord Company Limited from September 2002 to May 2005. The Board announced that the Board has appointed Dr. Chan Yau Ching, Bob and Mr. Nathan Yu Li as independent non-executive Directors with effect from 1 December 2016.

Following their appointments, Dr. Chan would serve as the chairman of the remuneration committee and a member of the audit committee of the Company in place of Mr. Chen, and Mr. Li would serve as a member of the audit committee and a member of the nomination committee of the Company in place of Mr. Zhu. Since March 2014, Dr. Chan has been appointed as a managing director of KBR Capital Limited, where he is mainly responsible for asset management, advising on capital market transactions and investment management. Dr. Chan is currently a managing director and a responsible officer of KBR Fund Management Limited, which, as at the date of this announcement, a licenced corporation carrying out type 4 (advising on securities) and type 9 (asset management) regulated activities under the SFO.

Mr. Li was the vice president of business development from August 2010 to August 2011 at Nanjing Fullshare Dazu Technology Company Limited. In August 2011, Mr. Li founded Across Globe Works LLC which was based in Lexington, Massachusetts, US and principally engaged in assisting companies with unique technology in the US to access the international markets. Mr. Li held position as the president of Across Globe Works LLC from August 2011 to October 2012.