Stock code: 688187(A shares) Stock abbreviation: Times Electric (A shares) Announcement No.: 2023-001

Stock code: 3898(H shares) Stock abbreviation: Times Electric (H shares)

ZHUZHOU CRRC TIME ELECTRIC CO., LTD

Announcement on Change of Sponsor Representative

the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.

Zhuzhou CRRC Times Electric Co., Ltd. (hereinafter referred to as the "Company" or "Times Electric") received China International Capital Corporation (hereinafter referred to as "CICC") on January 6, 2023. The company's letter on the replacement of the sponsor representative of Zhuzhou CRRC Times Electric Co., Ltd. ".

As the sponsor of the company's initial public offering of shares and listing on the Science and Technology Innovation Board (hereinafter referred to as the "initial listing"), CICC originally appointed Mr. Liao Hanqing and Mr. Li Yifan as the sponsor representatives of the company's initial listing during the continuous supervision period. At present, due to the change of Mr. Li Yifan's work functions, it is no longer possible to continue to engage in the continuous supervision of Times Electric. In order to facilitate the development of continuous supervision in the future, CICC has decided to appoint Mr. Li Xin to replace Mr. Li Yifan to continue to perform the continuous supervision work. Until the end of the continuous supervision obligations stipulated by the China Securities Regulatory Commission and the Shanghai Stock Exchange. Please refer to the attachment for the curriculum vitae of Mr. Li Xin.

The board of directors of the company expresses its heartfelt thanks to Mr. Li Yifan for his contribution during the continuous supervision of the company!

It is hereby announced.

Board of Directors of Zhuzhou CRRC Times Electric Co., Ltd.

6 January 2023

Attachments:

Resume of Mr. Li Xin, sponsor representative

Mr. Li Xin, sponsor representative, graduated from Peking University with a master's degree in economics. He is currently the managing director of the investment banking department of CICC and the co-head of the technology, media and telecommunications group. Mr. Li Xin has participated in the completion of domestic and overseas listing, refinancing and corporate bonds of many companies as the project leader or core member of the project team.

or M & A and restructuring work, including Times Electric A- share IPO, Guangzhou Port A- share IPO, CRRC A- share non-public

Issuance, Guangzhou Port A- share non-public issuance, China CNR A- share allotment issuance, China South Car and China CNR share swap merger, Midea Group share swap merger Midea Electric and Midea Group's overall listing, CRRC Group corporate bonds, China Many projects such as CRRC corporate bonds and Guangzhou Port corporate bonds have rich investment banking business experience.