Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中國中車股份有限公司

CRRC CORPORATION LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1766)

RESIGNATION OF NONEXECUTIVE DIRECTOR

The board of directors (the "Board") of CRRC Corporation Limited (the "Company") announces that the Board received the resignation report of Mr. Liu Zhiyong, a non- executive director, on 19 February 2020. Mr. Liu Zhiyong resigned as a non-executive director, vice chairman and member of the Strategy Committee of the Board, member of the Audit and Risk Management Committee of the Board and member of the Remuneration and Evaluation Committee of the Board of the Company due to his age.

According to the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of CRRC Corporation Limited, the resignation of Mr. Liu Zhiyong came into effect upon the resignation report was delivered to the Board.

Mr. Liu Zhiyong confirmed that he has no disagreement with the Board and there is nothing relating to his resignation that needs to be brought to the attention of the shareholders and creditors of the Company. The Company would like to take this opportunity to express its sincere gratitude to Mr. Liu Zhiyong for his contribution to the development of the Company during his tenure of office.

In accordance with Rule 3.21 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules"), the Audit Committee must comprise a minimum of three members. Following the resignation of Mr. Liu Zhiyong, the Audit and Risk Management Committee of the Board of the Company only comprise of two committee members, which is less than the minimum number as required under Rule 3.21 of the Hong Kong Listing Rules.

The Company is in the course of considering appropriate candidate to fill up the vacancy in the Audit and Risk Management Committee of the Board due to the resignation of Mr. Liu Zhiyong, and will comply with the requirements under the Hong Kong Listing Rules as soon as practicable and make a further announcement in due course.

By order of the Board

CRRC Corporation Limited

Liu Hualong

Chairman

Beijing, the PRC

19 February 2020

As at the date of this announcement, the executive Directors of the Company are Mr. Liu Hualong, Mr. Sun Yongcai and Mr. Lou Qiliang; and the independent non-executive Directors are Mr. Li Guo'an, Mr. Wu Zhuo and Mr. Sun Patrick.

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CRRC Corporation Limited published this content on 19 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 February 2020 11:59:06 UTC