The board of directors of Zhuzhou CRRC Times Electric Co., Ltd. announced that with effect from 12 July 2018: Mr. DING Rongjun resigned from the positions of the chairman of the Board and an executive director of the company and ceased to be one of the authorized representatives of the company; Mr. LI Donglin was re-designated as the chairman of the Board and was appointed as one of the authorized representatives of the company; and Mr. YANG Shouyi was appointed as the vice chairman of the Board and an executive director of the company. In connection with the resignation of Mr. Ding and the appointment of Mr. Yang as disclosed in this announcement, the Board announces that with effect from 12 July 2018: Mr. Ding ceased to be the chairman of each of the strategy committee and the nomination committee of the Board; Mr. Li was appointed as the chairman of each of the strategy committee and the nomination committee of the Board and ceased to be the chairman of the risk control committee of the Board; and Mr. Yang was appointed as the chairman of the risk control committee of the Board and a member of the strategy committee of the Board. Since May 2018, Mr. Yang has been a director, the general manager and the deputy Party secretary of CRRC ZELRI.