The Board of Directors of Harbin Electric Company Limited announced that, Mr. Wu Wei-zhang has resigned from the positions of executive Director, chairman of the strategy development committee and president of the Company as he has reached the age required for retirement from his current positions. The resignation will become effective from the date of this announcement. Upon the resignation of Mr. Wu, the number of the Board members has fallen below the quorum as required under the Articles of Association of the Company, and the positions of the chairman of the strategy development committee and president of the Company became temporarily vacant.

The Company will complete the election to fill the vacancies and other subsequent works in accordance with the legal procedures as soon as possible. Upon the resignation of Mr. Wu, members of the Board are as follow: Executive Directors: Mr. Cao Zhi-an (chairman) and Mr. Zhang Ying-jian Independent non-executive Directors: Mr. He Yu, Mr. Hu Jian-min, Mr. Chen Guo-qing and Mr. Tang Zhi-hong.