The board of directors of Chongqing Machinery & Electric Co., Ltd. received resignation letters from Mr. Zhang Yongchao and Mr. Wang Pengcheng, the non-executive directors, respectively, on 12 April 2021. Due to work adjustments, Mr. Zhang Yongchao and Mr. Wang Pengcheng would respectively resign from the position as a non-executive director of the fifth session of the Board of the Company. As the resignation of Mr. Zhang Yongchao and Mr. Wang Pengcheng would neither lead to the number of members of the fifth session of the Board of the Company falling below the requirement of the statutory quorum, nor affect the normal operation of the Board of the Company, the resignation of Mr. Zhang Yongchao and Mr. Wang Pengcheng would take immediate effect upon the delivery of their resignation letters to the Board.