Chongqing Machinery & Electric Co., Ltd. received a resignation letter from Mr. Huang Yong, a non-executive director, on 11 July 2023. Due to attainment of the statutory retirement age, Mr. Huang Yong has applied to resign from
the positions as a non-executive director of the sixth session of the Board, a member of the remuneration committee and a member of the strategic committee of the Company. As the resignation of Mr. Huang Yong would neither lead to the number of members of the sixth session of the Board of the Company falling below the requirement of the statutory minimum number of members, nor affect the normal operation of the Board of the Company, the resignation of Mr. Huang Yong shall take immediate effect upon the delivery of his resignation letter to the Board. Mr. Huang Yong has confirmed that he has no disagreements with the Board or the supervisory committee of the Company and there are no other matters that need to be brought to the attention of the shareholders and creditors of the Company. The Company would like to express its sincere gratitude to Mr. Huang Yong for his contributions to the Company during his tenure. According to the relevant requirements of the Company Law of China and the Articles of Association, the Company will elect a non-executive director in accordance with the legal procedures.