Shanghai Electric Group Company Limited announced that due to the adjustment of duties and in accordance with the Company Law and the articles of
association of the Company, Mr. Hu Kang will no longer serve as the chief financial officer of the Company. The Board resolved to appoint Mr. Zhou Zhiyan ("Mr. Zhou") to be the chief financial officer with the term of office starting from the date of approval by the Board and ending on the date when the term of the current senior management expires. Mr. Zhou, male, aged 58, is the chief financial officer, secretary to the Board and joint company secretary of the Company, the chairman and deputy secretary of the party committee of Shanghai Prime Machinery Company Limited ("SPM").