The board of directors of China Railway Signal & Communication Corporation Limited announced that due to work arrangement, Mr. YIN Gang has resigned as an executive director of the Company, a member of the Strategy and Investment Committee of the Board and the chairman of the Quality and Safety Committee of the Board, with effect from 4 December 2019. The resignation of Mr. YIN Gang will not cause the number of directors of the third session of the Board to fall below the statutory minimum number or impact the normal operation of the Board. Mr. YIN Gang has confirmed that, he has no disagreement with the Board and the Company in any respect, and there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

The Board announced that, on 4 December 2019, the Board has considered and approved to nominate Mr. XU Zongxiang as a candidate for executive director of the Company, and to appoint Mr. XU Zongxiang as a member of the Strategy and Investment Committee of the Board and the chairman of the Quality and Safety Committee of the Board. The composition of other committees of the Board remains unchanged. The appointment of Mr. XU Zongxiang will be effective upon approval by the Shareholders at the general meeting of the Company.

Mr. XU Zongxiang served as the deputy head of Zhuzhou Electric Locomotive Works, the director and general manager, director and general manager and deputy Party secretary, executive director and general manager and deputy Party secretary of CRRC Zhuzhou Locomotive Co. Ltd., a standing member of the Party Committee of CSR Group1, and a deputy general manager of CRRC Group Co. Ltd. The Board announced that Mr. YIN Gang has resigned as the president of the Company due to work arrangement, with effect from 4 December 2019.

Mr. YIN Gang has confirmed that, he has no disagreement with the Board and the Company in any respect, and there are no other matters in relation to his resignation that need to be brought to the attention of the Shareholders or the Stock Exchange. On 4 December 2019, the Board has considered and approved to appoint Mr. XU Zongxiang as the president of the Company, with effect from 4 December 2019. Mr. XU Zongxiang has undertaken that during his concurrent services as the president of the Company and the general manager of China Railway Signal & Communication (Group) Corporation Limited, the controlling shareholder of the Company, he will perform his duties diligently and devotedly and deal well with the relationship between the Company and its controlling shareholder, and will not impair the interests of the Company and its minority shareholders due to such concurrent positions.