China Railway Signal mmunication : ANNOUNCEMENT ON BID-WINNING OF IMPORTANT PROJECTS IN THE RAIL TRANSIT MARKET

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.

China Railway Signal & Communication Corporation Limited*

中 國 鐵 路 通 信 信 號 股 份 有 限 公 司

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

(Stock Code: 3969)

ANNOUNCEMENT ON BID-WINNING OF

IMPORTANT PROJECTS IN THE RAIL TRANSIT MARKET

This announcement is made by China Railway Signal & Communication Corporation Limited* (the "Company") pursuant to Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

From July to August 2020, the Company has won the bidding for a total of ten important projects in the rail transit market, among which, three are acquired from the railway market, namely four power integration and the related works for the CJLLXZH-2 tender section of the newly built Langfang East-New Airport intercity link (the "Phase-IProject for the Newly-builtIntercity Link") with a tender amount of RMB113 million, four power integration and the related works for the XJSD tender section of the newly built Xuancheng-JixiHigh-speed Railway ("Xuan Ji High-speedRailway") with a tender amount of RMB200 million, EPC project for communications and signaling of Bangladeshi Padma Bridge rail link project with a tender amount of RMB260 million; the other seven are acquired from the urban rail transit market, namely signal system installation project in respect of Jinhua-Yiwu- Dongyang Urban Rail Transit Project with a tender amount of RMB249 million, signal system procurement project in respect of phase I of Nantong Urban Rail Transit Line No. 2 with a tender amount of RMB196 million, signal system procurement project in respect of phase I project of Shenzhen Urban Rail Transit Line No. 20 with a tender amount of RMB175 million, signal system engineering project in respect of Changchun Rail Transit Line No. 3 with a tender amount of RMB267 million, General contracting project for system equipment engineering of Xi'an Metro Line 14 (from North Railway Station to Heshao Village) with a tender amount of RMB121 million, procurement of special communication system equipment, and communication system integration (No. 3302) (Second Bid) of Foshan Urban Rail Transit Line 3 with a tender amount of RMB153 million as well as Maintenance services outsourcing project for engineering signal and communication system equipment of Phase I of Line 17 and Phases I and II of Line18 of Chengdu Metro with a tender amount of RMB164 million.

Details of the projects awarded are hereby announced as below:

1

1. RELEVANT INFORMATION OF THE PROJECTS WON IN THE RAILWAY MARKET

Project One

Project Two

Project Three

I. General information

1.	Name of the project	Phase-I Project for the
		Newly-built Intercity Link
2.	Bid originator	Jing'an Intercity Railway
		Co., Ltd.
3.	Tender amount	1.13
	(RMB100 million)

4. Overview of the project The Phase-I Project for the Newly-built Intercity Link is 39.339km long, the designed running speed of the line is 200km/h. It will be equipped with a CTCS-

2 level high-speed train operation control system.

The Company will be responsible for equipment procurement, system debugging and other system integration work for all communications, signaling and other projects of the Phase-I Project for the Newly- built Intercity Link, and will cooperate with joint debugging, trial operation and other tasks.

Xuan Ji High-speed Railway

China Railway Design Corporation

2.0

The main line of Xuan Ji High-speed Railway is 115km long, the designed running speed of the line is 350km/ h. The main line will be equipped with a CTCS-

3 level high-speed train operation control system. The Company will be responsible for equipment procurement, system debugging and other system integration work for all communications, signaling and other projects of Xuan Ji High- speed Railway, and will cooperate with joint debugging, trial operation and other tasks.

EPC Project for Communications and Signaling of Bangladeshi Padma Bridge Rail Link Project China Railway Group Ltd.

2.6

The line of the Bangladeshi Padma Bridge rail link project is 168.5km with 20 stations, including 14 newly-built stations and 6 re-constructed stations based on existing ones. The passenger and freight lines have a designed running speed of 120km/h and 80km/ h for passenger and freight transportation. The phase-I and phase-II projects are 81.7km and 86.9km long, respectively.

The Company will be responsible for design, procurement, construction and installment and debugging of the communication signaling system of the Bangladeshi Padma Bridge rail link project and will cooperate with joint debugging, trial operation and other tasks.

2

	Project One	Project Two	Project Three
II. Information of the
counterparty
1. Name of the	Jing'an Intercity Railway	China Railway Design	China Railway Group Ltd.
enterprise	Co., Ltd.	Corporation
2. Nature of the enterprise	State-owned enterprise	State-owned enterprise	State-owned enterprise
3. Legal representative	Liu Bo	Liu Weiqun	Zhang Zongyan
4. Registered capital	RMB2,500 million	RMB660 million	RMB24,570,929,283
5. Date of incorporation	13-04-2016	21-07-1992	12-09-2007
6. Main office location	101 & 102, 1/F, Building	109 East 7th Road,	China Railway Building,
	63, Yard 5, Yujing East	Tianjin Pilot Free Trade	Building 9, 69 Fuxing Road,
	Road, Tongzhou District,	Zone (Tianjin Airport	Haidian District, Beijing
	Beijing	Economic Area)
7. Major shareholders	Beijing Tianjin Hebei	China State Railway	China Railway Engineering
	Intercity Railway	Group Co., Ltd.	Group Limited
	Investment Co. Ltd.	China Railway Group Ltd.	HKSCC Nominees Limited
			China Securities Finance
			Corporation Limited
			China Reform Holdings
			Corporation Ltd.
8. Principal business	Construction of railway	Undertaking of survey,	Contracting of civil engineering
	projects; lease of office	consultation, design	and construction, wiring,
	and commercial space	and supervision for	pipe fitting and equipment
	(space which is not	overseas and domestic	installation; sub-contracting of
	used for tangible market	foreign invested projects;	the survey, design, building,
	operation); advertisement	export of equipment and	construction supervision,
	design, production,	materials required for the	technology consultation,
	agency and releasing; land	abovementioned items;	technology development,
	consolidation; technology	contracting of foreign	technology transfer and
	development, technology	(overseas) projects	technical service in connection
	transfer, technology	with matching strength,	with abovementioned items;
	consultation, and	scale and performance;	research, manufacturing, sales
	technical service; tourism	undertaking of survey,	and leasing of machinery
	information consultation;	mapping, consultation,	facilities, apparatus, component,
	railway transportation;	design, supervision,	steel girder, steel structure and
	property management;	projects contracting,	building materials designed for
	real estate development.	engineering piles testing	civil engineering; temporary
		and geological disaster	passenger and cargo transport
		prevention projects	and related services prior to
		construction; consultation	the formal testing and delivery
		services in connection	for operation of newly-built
		with abovementioned	railways; contracting of overseas
		businesses; bidding	projects and domestic foreign
		agency business for	invested projects in the industry;
		construction projects, etc.	real estate development and
			operation, resource development,
			trade and logistics; import
			and export; counter trade and
			intermediary trade, etc.

3

Project One

1. Major terms and conditions of the contract to be signed

Project Two

Project Three

1. Amount of the contract (RMB100 million)
2. Payment schedule
3. Place of performance
4. Term for performance

1.13

Payments of the project will be made based on advance payments, progress payments, payments on completion and acceptance, warranty payments and other procedures.

Within Hebei Province

From the date of signing of the contract to the end of the project warranty period, of which, the project execution cycle is approximately 29 months and the warranty period is 12 months, totaling 41 months.

2.0

Payments of the project will be made based on advance payments, progress payments, payments on completion and acceptance, warranty payments and other procedures.

Within Anhui Province

From the date of signing of the contract to the end of the project warranty period, of which, the project execution cycle is approximately 42 months and the warranty period is 12 months, totaling 54 months.

2.6

Payments of the project will be made based on advance payments, progress payments, payments on completion and acceptance, warranty payments and other procedures.

The People's Republic of Bangladesh

Phase-I project will open on

1. December 2021 and phase- II project will open on 30 April 2023. The defects liability period is 1 year and the maintenance period is 2 years. From the date of signing of the contract to the end of the project warranty period, of which, the project execution cycle is approximately

1. months, the defects liability period is 12 months and the maintenance period is 24 months, totaling 69 months.

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Project One

Project Two

Project Three

5. Conditions for the	The contract shall become
contract to take effect	formally effective after
	the legal representatives
	of both parties or their
	authorized representatives
	have affixed their
	signatures and official
	seals.

6. Contract signing place

Beijing

The contract shall become formally effective after the legal representatives of both parties or their authorized representatives have affixed their signatures and official seals.

Tianjin

1. The authorized representatives of both parties have affixed their signatures and the seals for contract or official seals on the contract; and
2. As the professional contractor for "communication signaling" under the contracting contract, the appointment of Party B obtained the temporary approval (BR letter No.54.01.0000.631.54. 206.18-5187) from the employer;
3. The contract has completed filing procedures. The contract shall become effective from the latest date in the above conditions.

Dacca, the People's Republic of Bangladesh

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1. INFORMATION ON PROJECTS WON IN THE URBAN RAIL TRANSIT MARKET

Project Four

Project Five

Project Six

Project Seven

1. General Information

1. Name of the	Signal system
project	installation project in
	respect of Jinhua-Yiwu-
	Dongyang Urban Rail
	Transit Project

2. Bid originator Jinhua Jinyidong Rail Transit Co., Ltd.

3.	A mount of	2.49
	the bid won
	(RMB100
	million)
4.	Overview of	This project has
	the project	a total length of
		107.17 km, with 31
		stations, including 14
		underground stations
		and 17 elevated stations,
		and a rolling stock depot
		with three tabling yards.

Signal system	Signal system	Signal system engineering
procurement project in	procurement project	project in respect of
respect of phase I of	in respect of phase I	Changchun Rail Transit
Nantong Urban Rail	project of Shenzhen	Line No. 3
Transit Line No. 2	Urban Rail Transit Line
	No. 20
Nantong Urban Rail	Shenzhen Metro Group	Changchun Rail Transit
Transit Co., Ltd.	Co., Ltd.	Group Co., Ltd.
1.96	1.75	2.67

The phase I project of	The phase I project of	Changchun Line No. 3
Nantong Urban Rail	Shenzhen Urban Rail	has a total length of 34
Transit Line No. 2	Transit Line No. 20	km, with 36 stations, 11
has a total length of	has a total length of	equipment centralised
approximately 20.9	approximately 8.43	stations, 58 trains, an
km, with 17 stations,	km all constructed	additional control center,
including 7 centralised	underground, with	an upgraded rolling
stations and 10 non-	5 stations, including	stock depot, a stabling
centralised stations,	3 transfer stations.	yard and a testing line.
and 6 transfer stations.	The average distance	The existing phase I and
In Xingfu Township	between stations is	phase II has a total length
which is located at the	2.02 km, the maximum	of approximately 28.53
west side of the line,	distance between	km, with 31 stations, 9
the project has a Xingfu	stations is 4.38 km	equipment centralised
rolling stock depot	(from Airport North	stations, 44 trains; the
and an integrated base	Railway Station to	northern extension has
(including a testing line	Chongqing Road	a total length of 5.47
and a training center),	Station) and the	km, with 5 stations, 2
and shares a control	minimum distance	equipment centralised
center with Line No. 1	between stations is 0.8	stations and 14 trains.
at Tonghu Avenue.	km (from Convention
	South Station to
	Convention North
	Station). The Company
	will be responsible for
	works including the
	equipment procurement
	and integration
	and coordinating
	adjustments for the
	signal system of this
	project.

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Project Four

Project Five

Project Six

Project Seven

The Company will be responsible for the signal system engineering works including the installation and wiring of all indoor and outdoor main line signal system equipment for main line stations and sections (including assistant lines, connecting lines and lines for entering or leaving depots or yards), relevant parts of the rolling stock depot and stabling yards (including testing lines, training centers and repair and maintenance centers) and control center.

The Company will be responsible for works including the procurement and integration of equipment for the signal system of this project.

The Company will provide a signal system solution which is compatible with the CBTC standard signal system of the northern extension and its existing digital track circuit for Changchun Line No. 3. The works include ancillary projects in respect of northern extension CBTC, existing on-board equipment, ATS, power expansion, graded protection of information security, LTE and other equipment.

The Company will be responsible for system designing, construction and installation, supply of equipment, plant inspection, training, installation, commissioning, running, after sales service, etc.

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Project Four

Project Five

Project Six

Project Seven

1. Information of the counterparty

1.	Name of the	Jinhua Jinyidong Rail	Nantong City Rail	Shenzhen Metro Group	Changchun Rail Transit
	enterprise	Transit Co., Ltd.	Transit Co., Ltd.	Co., Ltd.	Group Co., Ltd.
2.	Nature of the	State-owned enterprise	State-owned enterprise	State-owned enterprise	State-owned enterprise
	enterprise
3.	Legal	Zheng Gongmin	Wang Zhi	Xin Jie	Cao Guoli
	representative
4.	Registered	RMB1,000 million	RMB3,700 million	RMB44,071.36 million	RMB3,686.29 million
	capital
5.	Date of	04-07-2016	19-12-2016	31-07-1998	17-07-1998
	incorporation
6.	Main office	6th Floor, Phase II of	11th Floor, 150-1	Floor 27-31, Metro	No.	1305, Anda
	location	the Composite Building,	Gongnong South Road,	Building, No. 1016,	Street, Chaoyang District,
		No.1299, Guangnan	Chongchuan District,	Fuzhong 1st Road,	Changchun
		Road, Duohu Street,	Nantong	Futian District,
		Jindong District, Jinhua		Shenzhen
		City, Zhejiang Province
7.	Major	Jinhua Rail Transit	Nantong City	State-owned Assets	Changchun Urban
	shareholders	Group Co., Ltd.	Construction Group Co.,	Supervision and	Public Transportation
		Yiwu Transportation	Ltd.	Administration	Development Group Co.,
			Commission of	Ltd.
		Tourism Industry		Shenzhen Municipal
		Development Group		People's Government	CDB Development Fund
		Co., Ltd.			Co., Ltd.
		Dongyang			Changchun Urban
		Transportation			Development & Investment
		Investment Construction			Holdings (Group) Co., Ltd.
		Group Co., Ltd.
8.	Principal	Investment, construction	Construction of city	Construction, operation,	Rail transit, operation,
	business	and operation and	rail transit engineering	development and	management and related
		management of rail	projects; land	comprehensive	urban rail passenger
		transit projects;	development.	utilization of	transport, real estate
		land acquisition		subway and light	development and sales,
		and reserving and		rail transportation	investment in related
		development along the		projects; investment	projects with self-owned
		rail transit line.		and establishment of	funds (not allowed to
				industries (specific	engage in financial
				projects will be reported	management, illegal fund-
				separately); domestic	raising, illegal deposit
				commerce, material	absorption, loan, etc.),
				supply and marketing	advertisement design,
				industry (excluding	production, agency,
				franchise, special	release, property services,
				control, monopoly	engineering consulting,
				commodities);	investment information
				operating advertising	consulting.
				business; own property

management consulting and education training of rail transit related business.

8

Project Four

Project Five

Project Six

Project Seven

1. Major terms and conditions of the contract to be signed

1.	Amount of	2.49	1.96
	the contract
	(RMB100
	million))
2.	Payment	Payments of the project	Payments of the project
	schedule	will be made based	will be made based
		on upfront payments,	on advance payments,
		progress payments,	progress payments,
		payments on completion	payments after arrival
		and acceptance and	of goods, payments
		warranty payments.	on completion and
			acceptance, warranty
			payments and other
			processes.

3.	Place of	Within Zhejiang	Nantong
	performance	Province
4.	Term for	From the date of signing	From the date of signing
	performance	of the contract to the end	of the contract to the end
		of the project warranty	of the project warranty
		period, of which, the	period, of which, the
		project execution cycle	project execution cycle
		is approximately 24	is approximately 30
		months and the warranty	months and the warranty
		period is 24 months,	period is 24 months,
		totaling 48 months.	totaling 54 months.
5.	Conditions for	The contract shall	The contract shall
	the contract to	become effective	become formally
	take effect	after the contractor	effective after the
		has provided a full	legal representatives
		performance guarantee	of both parties or
		and both parties have	their authorized
		affixed their signatures	representatives have
		and official seals.	affixed their signatures
			and official seals.
6.	Contract	Jinhua	Nantong
	signing place

1.75

Payments of project will be made based on advance payments, payments on design review, payments after arrival of goods, payments on interim acceptance, payments on completion and acceptance, payments upon submission of settlement documents, settlement payments, payments on final acceptance and other processes.

Shenzhen

From the date of signing of the contract to the end of the project warranty period, of which, the project execution cycle is approximately 16 months and the warranty period is 36 months, totaling 52 months. The contract shall become formally effective after the legal representatives of both parties or their authorized representatives have affixed their signatures and official seals. Shenzhen

2.67

Payments of the project will be made based on advance payments, payments for equipment, payments on completion acceptance, warranty payments and other processes.

Changchun

From the date of signing of the contract to the end of the project warranty period, of which, the project execution cycle is approximately 15 months and the warranty period is 36 months, totaling 51 months.

The contract shall become effective after representatives of both parties have affixed their signatures and official seals and the seller has provided a qualified performance guarantee.

Changchun

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Project Eight

Project Nine

Project Ten

I. General information

1. Name of the project	General contracting
	project for system
	equipment engineering
	of Xi'an Metro Line 14
	(from North Railway
	Station to Heshao Village)

Procurement of special communication system equipment, and communication system integration (No. 3302) (Second Bid) of Foshan Urban Rail Transit Line 3

Maintenance services outsourcing project for engineering signal and communication system equipment of Phase I of Line 17 and Phases I and II of Line 18 of Chengdu Metro

1. Bid originator
2. Amount of the bid won (RMB100 million)
3. Overview of the project

1. Electromechanical Engineering Co., Ltd.

1.21

Xi'an Metro Line 14 runs from North Railway Station to Heshao Village, with the total length of 13.65km, all of which lies underground. There are eight stations, including three interchange stations and one new parking lot. It shares the rolling stock depot and control center with Airport Line. The Company will be responsible for the following work related to the signal system equipment of the project: the design, design liaison, manufacture, delivery inspection, insurance, packaging and shipment, transportation, warehousing, delivery, installation supervision, testing, trials, joint debugging, safety assessment, acceptance, trial operation, start-up, equipment performance validation, personnel training, provision of spare parts, instruments, meters and tools, warranty period and after-sales services.

Foshan Urban Rail Transit Line 3 Development Co., Ltd.

1.53

The project has a total length of 69.5km, including an elevated section of 8.7km,

a transition section of 1.3km and an underground section of 59.5km. 37 stations are constructed, including 4 elevated stations and 33 underground stations, of which there are 16 interchange stations. There are 1 rolling stock depot and 2 parking lots throughout the route.

Chengdu Metro Operation Co. Ltd.

1.64

Routine inspection, maintenance and overhaul (excluding medium maintenance, overhaul and technical modification

of equipment), equipment monitoring, malfunction response, guard duty, equipment protection, rectification of potential hazards, emergency rescue, flood prevention

and drill, and debugging of subsequently constructed new lines for signal, communication system equipment in the areas of main line, OCC and rolling stock depot and parting lots of Phase I of Line 17 and Phases I and II of Line18 of Chengdu Metro (including three stations and one area), as well as on-site investigation, data collection, construction control and interface coordination for the communication and signal of the bid originator.

10

Project Eight

Project Nine

Project Ten

The Company will be responsible for the following work related to special communication system of Foshan Urban Rail Transit Line 3:

the design liaison, design, manufacture, factory testing, factory acceptance, packaging, supply, transportation, delivery, installation supervision, stand- alone testing, system debugging and field testing, joint debugging, 144-hour continuous testing, inspection of start-up conditions, pre-acceptance,

trial operation, final acceptance, personnel training, provision of standard accessories, special tools and instruments and meters, reporting to government agencies for inspection (if any), BIM-related work, communication system integration, and correction of system defects and maintenance during the warranty period.

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	Project Eight	Project Nine	Project Ten
II. Information of the
counterparty
1. Name of the enterprise	CCCC Mechanical &	Foshan Urban Rail Transit	Chengdu Metro Operation Co.,
	Electrical Engineering	Line Three Development	Ltd.
	Co., Ltd.	Co., Ltd.
2. Nature of the enterprise	State-owned enterprise	Limited liability company	State-owned enterprise
		(state-controlled)
3. Legal representative	Chen Zhongqiu	Sun Zhongquan	Rao Yong
4. Registered capital	RMB833.332 million	RMB5,000 million	RMB10 million
5. Date of incorporation	2013-04-16	2017-05-12	2010-05-25
6. Main office location	Floor 11-12, No.85 De	Room 903, A Tower,	No.	208 Shuangdian West
	Sheng Men Wai Street,	No. 37 Fenjiang South	1st Road, Chenghua District,
	Xicheng District, Beijing	Road, Chancheng District,	Chengdu
		Foshan	Chengdu Rail Transit Group Co.,
7. Major shareholders	China Communications	Foshan Railway
	Construction Company	Investment and	Ltd.
	Limited	Construction Co., Ltd.
	CCCC First Harbour
	Consultants Co., Ltd.	China Railway Group
		Limited
	China Road and Bridge	China Railway
	Corporation	Construction Corporation
		Limited
		China State Construction
		Engineering Corporation
		Limited
		CRRC Group Co., Ltd.
		China Communications
		Construction Company
		Limited	Urban (inter-city) rail transit
8. Principal business	Construction project	Investment, construction
	management, general	and operation of Foshan	operation and management,
	contracting, engineering	Urban Rail Transit Line 3	repair and maintenance of
	design, goods import and	(including simultaneous	equipment and facility, and
	export, agency of import	implementation work)	development of related system;
	and export, technology	project, domestic trade,	consulting and training on
	import and export,	property leasing services,	urban (inter-city) rail transit
	sales of machinery and	release and agency of	construction and operation;
	equipment, investment	advertising and technical	repair and leasing of rail
	management, project	consulting services.	transit equipment, engineering
	investment, engineering		machinery and equipment, tools
	technology research,		and instruments and apparatus
	technology development,		(the maintenance of measuring
	technology promotion,		instruments is subject to the
	technology transfer,		approval of license required);
	technical consulting,		new materials, technology
	technical services,		development and technology
	lease of machinery and		transfer, etc.
	equipment (excluding car
	rental) and maintenance of

mechanical and electrical equipment.

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Project Eight

Project Nine

1. Major terms and conditions of the contract to be signed

1. Amount of the contract	1.21	1.53
(RMB100 million)		Payments of the project
2. Payment schedule	Payments of the project
	will be made based	will be made based
	on advance payments,	on advance payments,
	equipment payments,	progress payments,
	payments on completion	payments after arrival
	and acceptance, warranty	of goods, payments on
	payment and other	the completion of pre-
	processes.	acceptance, payments
		on the completion of
		settlement and payments
	Xi'an	on final acceptance.
3. Place of performance	Foshan
4. Term of performance	From the date of signing	From the date of signing
	of the contract to the end	of the contract to the end
	of the project warranty	of the project warranty
	period, of which, the	period, of which, the
	project execution cycle is	project execution cycle is
	approximately 13 months	approximately 41 months
	and the warranty period is	and the warranty period
	24 months, totaling about	is 24 months, totaling 65
	37 months.	months.
5. Conditions for entry	The contract shall become	The contract shall become
into force of the	formally effective after	formally effective after
contract	the legal representatives	the legal representatives
	of both parties or their	of both parties or their
	authorized representatives	authorized representatives
	have affixed their	have affixed their
	signatures and official	signatures and official
	seals.	seals.
6. Contract signing place	Beijing	Beijing

Project Ten

1.64

Payments of the project will be made on a quarterly basis

Chengdu

From the date of signing of the contract to the end of the project, totaling 40 months.

The contract shall become formally effective after the legal representatives of both parties or their authorized representatives have affixed their signatures and official seals.

Chengdu

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1. IMPACT ON THE COMPANY
2. 1. The total amount of bids for the above projects is approximately RMB1,898 million, accounting for approximately 4.56% of the Company's audited operating income in 2019 under the Chinese Accounting Standards. Given that the above projects will be implemented in phases across years, there are uncertainties as to the impact on the results for 2020. If formal contracts are signed for the above projects and the projects are smoothly implemented, it is expected to have a relatively positive impact on the Company during the implementation period of the projects.
   2. The Company has no related relationships with the above tender parties, and the bid-winning of the above projects does not affect the independence of the Company's business.

IV. POTENTIAL RISKS

The bid-winning of the above projects has been published. Due to the relevant formalities involved, the Company has not signed the relevant formal contracts with the tender parties and uncertainties exist. The final amount, the terms of performance and other details of the above projects are subject to the formally signed contracts. Investors are reminded of the investment risks.

By order of the Board

China Railway Signal &

Communication Corporation Limited*

Chairman

ZHOU Zhiliang

Beijing, the PRC, 17 September 2020

As of the date of this announcement, the executive directors of the Company are Mr. ZHOU Zhiliang, Mr. XU Zongxiang and Mr. YANG Yongsheng, and the independent non-executive directors of the Company are Mr. WANG Jiajie, Mr. CHEN Jin'en, Mr. CHAN Ka Keung Peter and Mr. YAO Guiqing.

• For identification purpose only.

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