Chongqing Machinery & Electric Co., Ltd. announced appointment of an executive director and change of a non-executive director. The Company has appointed Mr. Yue Xiangjun as an executive director of the Company and Ms. Zhu Ying as a non-executive director, which was approved by the shareholders at the extraordinary general meeting dated 22 March 2023 ("EGM"). The biography of the executive director is set out below: Mr. Yue Xiangjun (), aged 46, is the deputy secretary of the Party Committee and general manager of the Company.

Mr. Yue is a senior engineer. He served as the deputy secretary of the Party Committee and general manager of the Company since January 2023. He served as the Party branch secretary and the chairman of Chongqing Machinery & Electronic Intelligent Manufacturing Co., Ltd. and the chairman of Chongqing Unication Electronic Technology Co., Ltd. from February 2021 to March 2023.

He also served as the Party branch secretary and the chairman of Chongqing Machinery & Electronic Intelligent Manufacturing Co., Ltd., and the secretary of Party general branch, the chairman and general manager of Chongqing Unication Electronic Technology Co., Ltd. from October 2020 to February 2021. He served as the chairman of Chongqing Machinery & Electronic Intelligent Manufacturing Co., Ltd., and the secretary of Party general branch, the chairman and general manager of Chongqing Unication Electronic Technology Co., Ltd. from July 2020 to October 2020; he served as the secretary of Party general branch and the general manager of Chongqing Unication Electronic Technology Co., Ltd., a director and a vice general manager of Chongqing Machinery & Electronic Intelligent Manufacturing Co., Ltd. from July 2017 to July 2020, and the general manager and secretary of Party general branch of Chongqing Unication Electronic Technology Co., Ltd. from February 2017 to July 2017. He also served as a vice general manager of Southwest Computer Co., Ltd. from October 2012 to February 2017, the deputy general economist, the head of the business and market department and the officer of Beijing development department of Southwest Computer Co., Ltd. from February 2010 to October 2012, the deputy general economist, the head of the planning and development department and the officer of Beijing development department of Southwest Computer Co., Ltd. from February 2008 to February 2010, the officer of Beijing development department of Southwest Computer Co., Ltd. from January 2005 to February 2008, and the officer of simulation office of information technology institute of Southwest Computer Co., Ltd. from February 2004 to January 2005.

Mr. Yue acted as a designer of information technology institute of the State-owned Factory 789 from July 1999 to February 2004. Mr. Yue completed the training and study of the 73rd advanced business management course at School of Economics and Management, Tsinghua University from April 2014 to June 2014. Mr. Yue studied in the Control Engineering Field Major at Beijing Institute of Technology from August 2006 to September 2011 and obtained a master's degree in engineering.

He completed undergraduate study in the Applied Mathematics Major at the Applied Mathematics Department of XiDian University from August 1995 to July 1999 and obtained a bachelor's degree of science. Save as disclosed above, Mr. Yue Xiangjun did not have any directorship in any other listed companies in the last three years, nor did he have any interest relationship with the directors, senior management, substantial shareholders or controlling shareholder of the Company. As at the date of this announcement, Mr. Yue Xiangjun did not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

The Company will enter into a service contract with Mr. Yue Xiangjun in connection with his appointment as an executive director for a term commencing from the date of approval at the EGM until the expiration of the current session of the board of directors. As Mr. Yue Xiangjun was appointed as the sixth session general manager of the Company in January 2023, the board will determine his remuneration according to the remuneration management system for senior management of the Company (the "Management System"). In accordance with the Management System, the remuneration of Mr. Yue Xiangjun as an executive director and the general manager will be comprised of three parts, namely basic salary (approximately RMB400,000/year, before taxation), annual performance-related salary and tenure incentive bonus and transportation allowances.

Mr. Yue Xiangjun will not receive any remuneration from other positions in the Company. All the above remuneration will be covered in his service contract. The biography of the non-executive director is set out below: Ms. Zhu Ying (), aged 46, a Juris Doctorate degree holder, has been serving as the deputy general manager of Chongqing Yufu Capital Operation Group Co., Ltd. since September 2021.

She has served as a director of Chongqing Shangshe (Group) Co., Ltd. and Chongqing Department Store Co., Ltd. since August 2022, and a director of Chongqing General Trading Business Management Co., Ltd. since October 2021. She held mid-level management position at Chongqing Yufu Capital Operation Group Co., Ltd. from July 2021 to September 2021. She served as the general manager of the business management department of Chongqing Yufu Holding Group Co., Ltd. from July 2020 to July 2021, and head of the risk compliance department of Chongqing Yufu Holding Group Co., Ltd. from April 2020 to July 2020.

She served as head of the risk compliance department of Chongqing Yufu Assets Management Group Co., Ltd. from January 2019 to April 2020, deputy head of the risk compliance department of Chongqing Yufu Assets Management Group Co., Ltd. from May 2015 to January 2019 and senior director of the risk compliance department of Chongqing Yufu Assets Management Group Co., Ltd. from January 2014 to May 2015. She worked at the legal affairs department of Chongqing Yufu Assets Management Group Co., Ltd. from January 2012 to January 2014. She served as a lawyer of Chongqing Kings Attorneys At Law from July 2007 to January 2012 and worked at Luzhou Laojiao Group Co., Ltd. from September 2000 to September 2001.

Ms. Zhu studied at School of Law of Chongqing University with the major of the laws of environmental and resource protection from September 2004 to July 2007, and obtained a Juris Doctorate degree. She studied at Southwest University of Political Science & Law with the major of law from September 2001 to July 2004 and obtained a master's degree in law. She studied at the Department of Economic Management of Northwest Institute of Textile Technology with the major of industrial foreign trade from September 1996 to July 2000 and obtained a bachelor's degree in engineering.