The board of directors of CRCC High-Tech Equipment Corporation Limited announced that on 29 July 2016, Mr. Chen Yongxiang has been nominated as an executive Director of the first session of the Board. The proposed appointment of Mr. Chen as an executive Director is subject to the approval at the general meeting of the Company with a term of office, which will commence on the date on which such proposed appointment is approved at the general meeting of the Company and will end on the expiration of the term of the first session of the Board. Mr. Chen Yongxiang, aged 50, is a vice general manager of the Company. Mr. Chen joined the Company in August 1989 and was appointed as a vice general manager and engineer in January 2010, and has 28 years of experience in manufacturing and repair of railway track maintenance machinery.