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CRRC CORPORATION LIMITED

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

(Stock Code: 1766)

RESIGNATION OF THE CHAIRMAN

The board of directors (the "Board") of CRRC Corporation Limited (the "Company") announces that the Board received the resignation report of Mr. Liu Hualong, the chairman, on 22 March 2021. Mr. Liu Hualong resigned as the chairman, an executive director, the chairman and a member of Strategy Committee of the Board, and a member of the Nomination Committee of the Board of the Company due to work adjustment.

According to the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of CRRC Corporation Limited, the resignation of Mr. Liu Hualong came into effect upon the resignation report was delivered to the Board. Mr. Liu Hualong confirmed that he has no disagreement with the Board and there is nothing relating to his resignation that needs to be brought to the attention of the shareholders and creditors of the Company.

The Board would like to take this opportunity to acknowledge the significant contribution of Mr. Liu Hualong to the development of the Company during his tenure of office with the highest regard and deepest gratitude.

Mr. Sun Yongcai, the executive director and the president of the Company, shall perform the duties of chairman until a new chairman is elected.

By order of the Board CRRC Corporation Limited Xie Jilong TANG Tuong Hock

Joint Company Secretaries

Beijing, the PRC

22 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Sun Yongcai and Mr. Lou Qiliang; and the independent non-executive directors are Mr. Li Guo'an, Mr. Sun Patrick, Mr. Shi Jianzhong and Mr. Zhu Yuanchao.

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CRRC Corporation Limited published this content on 22 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2021 11:36:10 UTC.