CRCC High Tech Equipment : ANNOUNCEMENT (1) PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION; AND (2) PROPOSED AMENDMENTS TO THE RULES OF PROCEDURE FOR GENERAL MEETINGS

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.

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

(Stock Code: 1786)

ANNOUNCEMENT

1. PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION； AND
2. 1. PROPOSED AMENDMENTS TO THE RULES OF PROCEDURE FOR GENERAL MEETINGS

This announcement is made by CRCC High-Tech Equipment Corporation Limited (the "Company") pursuant to Rule 13.51(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

According to the Decision of the Standing Committee of the National People's Congress on

Amending the Company Law of the PRC (Order of the President of the PRC No.15) 《( 全國人 民代表大會常務委員會關於修改＜中華人民共和國公司法＞的決定》(中華人民共和國主席令

第十五號)) promulgated on 26 October 2018, the relevant expressions regarding the articles of association of CRCC High-Tech Equipment Corporation Limited (the "Articles of Association") currently in effect are not exactly consistent with the corresponding provisions of the latest revised Company Law of the PRC (the "Company Law"). Meanwhile, taking into consideration the actual conditions of the Company, the Company proposed to make relevant amendments to the voting rules of general meeting. On a prudent, appropriate and necessary basis, the board of directors (the "Board") of the Company proposed to make corresponding amendments to the Articles of Association and the rules of procedure for general meetings of CRCC High-Tech Equipment Corporation Limited (the "Rules of Procedure for General Meetings") in accordance with the latest revised Company Law and the adjusted voting rules of general meeting. Please refer to the Appendix of this announcement for details of the proposed amendments to the Articles of Association and the Rules of Procedure for General Meetings.

The Board considered that the proposed amendments to the Articles of Association and the Rules of Procedure for General Meetings are in the interests of the Company and its shareholders.

1

The proposed amendments to the Articles of Association and the Rules of Procedure for General Meetings are subject to consideration and approval by the shareholders of the Company at the general meeting of the Company. A circular containing, amongst other things, the details of the proposed amendments to the Articles of Association and the Rules of Procedure for General Meetings will be despatched to the shareholders of the Company as soon as practicable.

By order of the Board

CRCC High-Tech Equipment Corporation Limited

Liu Feixiang

Chairman

Kunming, the People's Republic of China, 9 December 2019

As at the date of this announcement, the Board of the Company comprises Mr. Liu Feixiang, Mr. Tong Pujiang and Mr. Chen Yongxiang, as executive directors; Mr. Zhao Hui, Mr. Sha Mingyuan and Mr. Wu Zhixu, as non-executive directors; and Mr. Sun Linfu, Mr. Yu Jiahe and Mr. Wong Hin Wing, as independent non-executive directors.

2

APPENDIX

Details of proposed amendments to the Articles of Association* are set out as follows:

	The Articles of Association
No. Original Articles	Amended Articles

1. Article 34 The Company may, in the Article 34 The Company may, in the

following circumstances, buy back its	f o l l o w i n g c i r c u m s t a n c e s , b u y b a c k
own outstanding shares by the procedures	purchaseits own outstandingshares
provided for in laws and these Articles	in accordance withby the procedures
of Association, after the approval by the	provided for inthe requirements oflaws,
approval authority authorized by the State	administrative regulations, departmental
Council:	rulesand these Articles of Association,
	after the approval by the approval authority

1. cancellation of shares in order to authorized by the State Council: reduce its capital;
2. 1. cancellation of shares in order to

(2) merger with another company holding		reduce its capital;
shares of the Company;	(2) merger with another company holding
(3) grant of shares as an incentive to its		shares of the Company;
employees;	(3)	to applygrant ofshares as an
(4) a shareholder opposes a resolution on		incentive to its employeesin the
the merger or division of the Company		employee shareholding scheme or
adopted at a general meeting and		equity incentives;
requests that the Company purchase	(4)	a shareholder opposes a resolution on
his or her shares; or
		the merger or division of the Company
(5) other circumstances approved in laws		adopted at a general meeting and
or administrative regulations or by the		requests that the Company purchase
approval authority authorized by the		his or her shares; or
State Council.	(5) other circumstances approved in laws
Except under the above circumstances, the		or administrative regulations or by
Company may not trade in its own shares.		the approval authority authorized by
		the State Council.to utilize shares
		for conversion of corporate bonds
		which are convertible into shares
		issued by the Company;
	(6) where it is necessary to safeguard
		its value and the rights and interests
		of its shareholders.
	Except under the above circumstances, the
	Company may not trade in its own shares
	purchase its own shares. 1

1 Despite the amendments to the Articles of Association with respect to the share repurchase by the Company, the Company shall still be subject to the relevant requirements and restrictions of the Listing Rules for any share repurchase, including but not limited to the relevant provisions of Chapters 10 and 19A. In particular, pursuant to Rule 10.06(5) and Rule 19A.24 of the Listing Rules, the listing status of all H Shares repurchased by the Company shall be automatically cancelled upon repurchase, and the Company must apply for listing of any further issues of H Shares in the normal way. The Company shall ensure that the documents of title of the repurchased H Shares are cancelled and destroyed as soon as reasonably practicable following the settlement of any repurchase of H Shares.

3

	The Articles of Association
No. Original Articles	Amended Articles

2. Article 35 Following the approval by the Article 35 Following the approval by theapproval authority authorized by the State approval authority authorized by the StateCouncil to buy back its own shares, the Council to buy back its own shares, the

Company may elect to do so by any of the	Company may elect to do so by any of the
following methods:	following methods:
(1)	issuance to all of the shareholders of a	(1)	issuance to all of the shareholders of a
	buyback offer on a pro rata basis;		buyback offer on a pro rata basis;
(2)	buyback through open transactions on	(2)	buyback through open transactions on
	a stock exchange;		a stock exchange;

1. buyback by agreements outside a (3) buyback by agreements outside a

stock exchange; or

stock exchange; or

1. another method approved in laws, (4) another method approved in laws,

administrative regulations or by the	administrative regulations or by the
approval authority authorized by the	approval authority authorized by the
State Council.	State Council.
	The Company may purchase its own
	shares through public and centralized
	trading or other methods as permitted
	by laws and regulations and the CSRC.
	Where the Company purchases its own
	Shares in the circumstances set out in
	item (3), item (5) and item (6) of Article
	34 of these Articles of Association, such
	purchase shall be conducted through
	public and centralized trading method.

4

The Articles of Association

No.	Original Articles	Amended Articles
3.	Article 37 The purchase by the Company	Article 37 The purchase by the Company of
	of its own shares for a reason specified	its own shares for a reasoncircumstances
	in items (1) to (3) of Article 34 of these	specified in item (1) toand item(3)(2)of
	Articles of Association shall require a	Article 34 of these Articles of Association
	resolution of the general meeting. If the	shall require a resolution of the general
	Company purchases its shares for the reason	meeting. If the Company purchases its
	specified in item (1) of Article 34, it shall	own shares for circumstances specified in
	cancel such shares within 10 days from	item (3), item (5) and item (6)of Article
	the date of the purchase. If the Company	34 of these Articles of Association, a
	purchases its shares for the reason specified	Board resolution thereon may, pursuant
	in item (2) or item (4), it shall transfer or	to the requirements of these Articles
	cancel such shares within six months.	of Association or the mandate of the
		general meeting, be passed at a Board
	The number of its shares purchased by the	meeting that is attended by at least two-
	Company pursuant to item (3) of Article	thirds of directors. Upon repurchase
	34 will not exceed 5 per cent of its total	of its own Shares by the Company
	outstanding shares, and the funds used	pursuant to Article 34 of these Articles of
	for such purchase shall be paid from the	Association,if such repurchase constitutes
	Company's after-tax profits. The shares	the circumstance set out in item (1) of
	so purchased shall be transferred to the	Article 34, it shall cancel such shares within
	employees within one year.	10 days from the date of the purchase. If
		the Company purchases its shares for the
	If the Company cancels shares, it shall carry	reason specified in item (2) or item (4), it
	out the registration of the change in its	shall transfer or cancel such shares within
	registered capital with its original registrar.	six months.;The number of its shares
		purchased by the Company pursuant to
	The amount of the Company's registered	the total number of shares held by the
	capital shall be reduced by the total par	Company shall not exceed 10% of the
	value of the shares canceled.	total issued shares of the Company and
		shall be transferred or cancelled within 3
		years,if the Company purchases its shares
		for the reason specified in item (3), item (5)
		and item (6).of Article 34 will not exceed
		5 per cent of its total outstanding shares,
		and the funds used for such purchase
		shall be paid from the Company's after-
		tax profits. The shares so purchased shall
		be transferred to the employees within one
		year.
		If the Company cancels shares, it shall carry
		out the registration of the change in its
		registered capital with its original registrar.

5

		The Articles of Association
No.	Original Articles		Amended Articles
			The amount of the Company's registered
			capital shall be reduced by the total par
			value of the shares canceled.
			If the repurchase and cancellation of the
			shares are otherwise stipulated in the
			relevant regulations by the regulatory
			authority and stock exchange of the
			places where the Company's shares are
			listed, such regulations shall prevail.

6

	The Articles of Association
No. Original Articles	Amended Articles

4. Article 91 Shareholders shall appoint their Article 91 Shareholders shall appoint their proxies by written instruments, which shall proxies by written instruments, which shall

be signed by the principals or their agents	be signed by the principals or their agents
appointed in writing. If the principal is a	appointed in writing. If the principal is a
legal person, the instrument shall be under	legal person, the instrument shall be under
the seal of the legal person or signed by its	the seal of the legal person or signed by its
director(s) or duly authorized agent(s).	director(s) or duly authorized agent(s).
The instrument of appointment by which	The instrument of appointment by which
a shareholder appoints another person to	a shareholder appoints another person to
attend a general meeting shall specify the	attend a general meeting shall specify the
following particulars:	following particulars:
(1) the names of the principal and of the	(1) the names of the principal and of the
proxy;	proxy;
(2) the number of shares of the principal	(2) the number of shares of the principal
that the proxy represents;	that the proxy represents;

1. whether the proxy has the right to (3) whether the proxy has the right to

vote;	vote;
(4) separate instructions as to whether to	(4) separate instructions as to whether to
vote for, vote against, or abstain from	vote for or, voteagainst, or abstain from
voting on, each item included on the	voting on,each item included on the agenda
agenda of the general meeting as an	of the general meeting as an item for
item for consideration thereat;	consideration thereat;

1. whether the proxy has the right to (5) whether the proxy has the right to

	vote on extempore motions that may		vote on extempore motions that may
	be added to the agenda of the meeting		be added to the agenda of the meeting
	and the specific instructions as to what		and the specific instructions as to what
	vote to cast if he or she has such right		vote to cast if he or she has such right
	to vote;		to vote;
(6)	t h e d a t e o f i s s u a n c e a n d t e r m	(6)	t h e d a t e o f i s s u a n c e a n d t e r m
	of validity of the instrument of		of validity of the instrument of
	appointment; and		appointment; and
(7)	the signature (or seal) of the principal;	(7)	the signature (or seal) of the principal;
	if the principal is a legal person		if the principal is a legal person
	shareholder, the power of attorney		shareholder, the power of attorney
	shall bear the seal of the legal person.		shall bear the seal of the legal person.

7

The Articles of Association

No.	Original Articles	Amended Articles
5.	Article 110 When a ballot is held,	Article 110 When a ballot is held,
	shareholders (including proxies) having the	shareholders (including proxies) having the
	right to two or more votes need not use all	right to two or more votes need not use all
	of their voting rights in the same way.	of their voting rights in the same way.
6.	Article 124 The shareholders present at a	Article 124 The shareholders (including
	general meeting shall express one of the	their proxies)present at a general meeting
	following opinions on motions that are put	shall clearly vote for or against each
	to a vote: consent, opposition or abstention.	matter which has been put to voteexpress
		one of the following opinions on motions
	If a ballot is blank, marked erroneously,	that are put to a vote: consent, opposition or
	illegible or has not been cast, the voter	abstention.
	shall be deemed to have waived his or her
	right to vote and the voting results for the	If a ballot is blank, marked erroneously,
	number of shares that he or she holds shall	illegible or has not been cast, the voter shall
	be recorded as "abstained".	be deemed to have waived his or her right to
		vote and if a shareholder or his/her proxy
		casts abstention vote or abstains from
		voting, any vote cast by such shareholder
		or his/her proxy shall not be counted in
		the voting results of the Companyfor the
		number of shares that he or she holds shall
		be recorded as "abstained".

• The Articles of Association and its amendments were written in Chinese, without formal English version. As such, any English translation shall be for reference only. In case of any discrepancies, the Chinese version shall prevail.

8

Details of proposed amendments to the Rules of Procedure for General Meetings * are set out as follows:

The Rules of Procedure for General Meetings

No. Original Articles

Amended Articles

1. Article 33 If a shareholder entrusts Article 33 If a shareholder entrusts another person to attend the meeting, such another person to attend the meeting, such

entrustment shall be a written form. The	entrustment shall be a written form. The
proxy shall submit a letter of attorney	proxy shall submit a letter of attorney
to the Company and exercise the voting	to the Company and exercise the voting
right within the scope of authorization.	right within the scope of authorization.
Such letter of attorney shall contain the	Such letter of attorney shall contain the
following:	following:
(I)	the names of the principal and of the	(I)	the names of the principal and of the
	proxy;		proxy;
(II)	the number of shares of the principal	(II)	the number of shares of the principal
	that the proxy represents;		that the proxy represents;
(III)	whether the proxy has the right to	(III)	whether the proxy has the right to
	vote;		vote;
(IV)	separate instructions as to whether to	(IV)	separate instructions as to whether to
	vote for, vote against, or abstain from		vote for,or voteagainst, or abstain
	voting on, each item included on the		from voting on,each item included on
	agenda of the general meeting as an		the agenda of the general meeting as
	item for consideration thereat;		an item for consideration thereat;
(V)	whether the proxy has the right to	(V)	whether the proxy has the right to
	vote on extempore motions that may		vote on extempore motions that may
	be added to the agenda of the meeting		be added to the agenda of the meeting
	and the specific instructions as to what		and the specific instructions as to what
	vote to cast if he or she has such right		vote to cast if he or she has such right
	to vote;		to vote;
(VI)	t h e d a t e o f i s s u a n c e a n d t e r m	(VI)	t h e d a t e o f i s s u a n c e a n d t e r m
	of validity of the instrument of		of validity of the instrument of
	appointment;		appointment;
(VII) the signature (or seal) of the principal;	(VII) the signature (or seal) of the principal;
	if the principal is a legal person		if the principal is a legal person
	shareholder, the power of attorney		shareholder, the power of attorney
	shall bear the seal of the legal person.		shall bear the seal of the legal person.
The power of attorney shall indicate	The power of attorney shall indicate
whether the proxy can vote at his/her	whether the proxy can vote at his/her
discretion if the shareholder does not make	discretion if the shareholder does not make
specific instructions.	specific instructions.

9

The Rules of Procedure for General Meetings

No.	Original Articles	Amended Articles
2.	Article 49 Resolutions of the general	Article 49 Resolutions of the general
	m e e t i ng a r e d iv id e d i n t o o r d i n a r y	m e e t i ng a r e d iv id e d i n t o o r d i n a r y
	resolutions and special resolutions. Ordinary	resolutions and special resolutions. Ordinary
	resolutions of the general meeting shall	resolutions of the general meeting shall
	be adopted by shareholders in attendance	be adopted by shareholders in attendance
	(including proxies) holding at least half	(including proxies) holding at least half
	of the voting rights. Special resolutions	of the voting rights. Special resolutions
	of the general meeting shall be adopted	of the general meeting shall be adopted
	by shareholders in attendance (including	by shareholders in attendance (including
	proxies) holding at least two-thirds of the	proxies) holding at least two-thirds of the
	voting rights.	voting rights.
	Shareholders (including proxies) attending	Shareholders (including proxies) attending
	the meeting shall clearly express their voting	the meeting shall clearly express their voting
	intentions such as aye, nay or abstention for	intentions such as aye, nay or abstention for
	each matter to be voted on.	each matter to be voted on.
3.	Article 60 The shareholders present at a	Article 60 The shareholders (including
	general meeting shall express one of the	proxies)present at a general meeting shall
	following opinions on motions that are put	express one of the following opinions on
	to a vote: consent, opposition or abstention.	motions that are put to a vote: consent,
		clearly express their voting intentions
	If a ballot is blank, marked erroneously,	such as consent oropposition or abstention
	illegible or has not been cast, the voter	for each matter to be voted on.
	shall be deemed to have waived his or her
	right to vote and the voting results for the	If a ballot is blank, marked erroneously,
	number of shares that he or she holds shall	illegible or has not been cast, the voter
	be recorded as "abstained".	shall be deemed to have waived his or her
		right to vote and theif a shareholder or
		his/her proxy casts abstention vote or
		abstains from voting, any vote cast by
		such shareholder or his/her proxy shall
		not be counted inthe voting results of
		the Companyfor the number of shares
		that he or she holds shall be recorded as
		"abstained".

• The Rules of Procedure for General Meetings and its amendments were written in Chinese, without formal English version. As such, any English translation shall be for reference only. In case of any discrepancies, the Chinese version shall prevail.

10