(a joint stock limited company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） (Stock Code 股份代碼: 1766) 17 April 2025 Dear non-registered shareholder(s), Arrangement of Electronic Dissemination of Environmental, Social and Governance Report and Corporate Communications Pursuant to Rule 2.07A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electroni ...

(a joint stock limited company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） (Stock Code 股份代碼: 1766) To ensure timely receipt of the Actionable Corporate Communications (Note), the Company recommends you provide your email address by scanning your personalized QR code printed on the enclosed reply form (the "Reply Form"). Alternatively, you may complete, sign and return the Reply Form to the Company's H share registrar (the "H Share Registrar"), Computershare H ...

環境、社會及 治理（ESG）報告 年度 ENVIRONMENTAL,SOCIAL AND GOVERNANCE REPORT 中國中車股份有限公司 CRRC CORPORATION LIMITED 關於本報告 | 報告說明 | | | --- | --- | | | 方的期望，未來更好地履行社會責任。 | | 時間範圍 | 日，為增強報告的可比性和完整性，部分數據及內容適當追溯之前年份。 | | 報告範圍 | | | | 界與公司年報口徑一致。 | | 編制依據 | | | | 續發展目標企業行動指南》（UN SDGs）等相關指引進行編制。 | | 數據來源 | | | 報告語言 | | | | 有異，以中文版本為准。 | | 報告獲取 | | | | 電話：+86-10-51862188 傳真：+86-10-63984785 | 本報告是由中國中車股份有限公司（本報告也簡稱"中國中車""我們"或"公司"） 向社會發佈的 2024 年環境、社會及治理（ESG）報告，報告面向中國中車的所有利 益相關方，秉持重要性、可量化、平衡性及一致性的原則，如實披露了中國中車於 2024 年在 ESG 領域所作的努力，旨在回 ...

Financial Performance - The company's operating revenue for 2024 reached RMB 246,456,804,000, representing a year-on-year increase of 5.21% compared to RMB 234,261,514,000 in 2023[10]. - Net profit attributable to shareholders for 2024 was RMB 15,663,893,000, up 7.51% from RMB 14,569,647,000 in 2023[10]. - Basic earnings per share for 2024 were RMB 0.43, an increase of 4.88% from RMB 0.41 in 2023[10]. - Total assets as of December 31, 2024, amounted to RMB 512,823,630,000, a growth of 8.70% from RMB 471,791,735,000 in 2023[10]. - The company's total liabilities as of December 31, 2024, were RMB 302,629,036,000, which is an increase of 10.00% from RMB 275,268,420,000 in 2023[10]. - The company reported a total equity attributable to shareholders of RMB 168,773,774,000 as of December 31, 2024, up 4.85% from RMB 160,973,373,000 in 2023[10]. - The net cash flow from operating activities for 2024 was RMB 27,127,503,000, significantly higher than RMB 14,721,616,000 in 2023[10]. - The operating cost increased by 4.10% year-on-year, primarily due to the growth in railway equipment revenue, with the cost growth rate slightly lower than that of revenue[68]. - The gross profit margin for the railway equipment segment was 24.72%, an increase of 1.00 percentage point compared to the previous year[73]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.21 per share, totaling RMB 60.27 billion, subject to approval at the 2024 annual shareholders' meeting[4]. - For the year 2024, the proposed cash dividend is RMB 0.21 per share, amounting to RMB 6.027 billion, which accounts for 48.65% of the net profit attributable to shareholders[156]. - The cumulative cash dividend over the last three accounting years amounts to RMB 17.506 billion, with an average net profit of RMB 11.918 billion, resulting in a cash dividend ratio of 146.90%[161]. - The total share capital as of December 31, 2024, is 28,698,864,088 shares, which serves as the basis for the cash dividend distribution[156]. - The cash dividend payment for 2024 is expected to be made by August 14, 2025, pending shareholder approval[157]. - The company has established a clear cash dividend policy that complies with its articles of association and shareholder resolutions[158]. Research and Development - Research and development expenses for 2024 were RMB 15,936,698,000, reflecting an increase of 10.96% from RMB 14,363,696,000 in 2023[10]. - Research and development expenses totaled RMB 16.69 billion, accounting for 6.77% of operating revenue, with capitalized R&D expenses making up 4.49%[89]. - The company has 21,138 R&D personnel, representing 13.90% of total employees, with 462 holding doctoral degrees[90]. - The establishment of a digital industry division aims to foster growth in smart manufacturing and industrial AI, positioning it as a key future growth area[33]. - The company is committed to innovation-driven development, with a focus on independent research and development to enhance its technological capabilities[52]. Market and Business Strategy - The company aims to transform into a "manufacturing + service" and system solution provider, optimizing its business structure[28]. - The international business strategy emphasizes sustainable growth and local market adaptation, with a focus on expanding international markets for rail transportation and new industries[35]. - The company is committed to enhancing brand influence and promoting local manufacturing and procurement in international markets[35]. - The company aims to achieve breakthroughs in business layout, market expansion, technological innovation, and management improvement as part of its strategic goals[60]. - The company is focused on fostering strategic emerging industries and developing new growth engines in sectors such as aerospace and biomedicine[128]. Operational Highlights - The railway passenger and freight transport volumes reached historical highs during the reporting period[25]. - The company sold 1,940 high-speed trains, 642 locomotives, and 321 passenger cars during the reporting period[78]. - The company has developed a diverse product structure, including high-speed trains, electric locomotives, and urban rail vehicles, all possessing independent intellectual property rights[36]. - The company has achieved a 99.6% occupancy rate for the Jakarta-Bandung High-Speed Railway, which has been operational for over a year, showcasing its successful international project execution[55]. - In 2024, the company plans to accelerate the development of major products, including the CR450 high-speed train capable of 400 km/h, and has successfully launched a series of new energy locomotives[52]. Risks and Challenges - The company faces various risks including strategic, market, product quality, and foreign operation risks, which are detailed in the management discussion section of the report[5]. - Market risks include intensified competition in the rail transportation equipment market, with increased participation from state-owned, private, and foreign enterprises[148]. - Quality risks are critical, as the company’s products directly impact public safety, necessitating stringent quality management standards to ensure reliability[150]. - Currency exchange risks are heightened due to increased international operations, requiring effective hedging strategies to mitigate potential losses from currency fluctuations[151]. - Structural adjustment risks exist due to historical overcapacity in certain business areas, prompting the company to focus on core functions and competitive strengths[154]. Infrastructure and Development - In 2024, the total fixed asset investment in railways reached CNY 850.6 billion, representing a year-on-year increase of 11.3%[136]. - A total of 3,113 kilometers of new railway lines were put into operation in 2024, including 2,457 kilometers of high-speed rail[136]. - The total volume of railway freight transport was 5.17 billion tons, an increase of 2.8% compared to the previous year[136]. - The total number of railway passenger transport reached 4.31 billion person-times, marking an increase of 11.9% year-on-year[136]. - The implementation of the "14th Five-Year" plan aims to enhance urban transportation connectivity and develop intercity railways, targeting an additional 3,000 kilometers of operational rail by 2025[132]. Corporate Governance and Compliance - The independent directors have fulfilled their responsibilities and ensured the protection of minority shareholders' rights[158]. - The company will withhold a 10% corporate income tax on dividends paid to non-resident corporate shareholders listed in the H-share register[162]. - For individual H-share shareholders, a 10% personal income tax will be withheld, with potential adjustments based on tax treaties[163]. - The transactions involving equity transfers and property purchases are classified as related transactions under Hong Kong Listing Rules, with applicable percentage rates exceeding 0.1% but below 5%[168][175].

Summary of Conference Call on China CRRC's Financial Report Company and Industry - **Company**: China CRRC Corporation Limited - **Industry**: Railway Equipment and Transportation Core Points and Arguments 1. **Positive Outlook on Railway Equipment**: The company maintains a strong outlook on the railway equipment sector, particularly in the context of domestic infrastructure investment under the "internal circulation" strategy [1][2] 2. **Strong Performance Despite Market Conditions**: China CRRC achieved a notable stock price increase following the release of its financial report, indicating resilience in a challenging market environment [2] 3. **Inventory and Contract Liabilities Growth**: The company's inventory and contract liabilities grew by 15% to 20%, while revenue growth was only 6%, attributed to the delivery cycle of railway equipment [3] 4. **High Repair Cycle**: The high repair cycle for railway vehicles is expected to lead to significant revenue recognition in the first half of 2025, as repairs typically have a short turnaround time [4] 5. **Profit Surpassing Expectations**: The company reported profits that exceeded expectations due to a faster growth rate in railway equipment, particularly in the high-margin passenger train segment, and a decrease in expense ratios [5] 6. **Stable Industry Demand**: The demand for new vehicles and high-level repairs remains strong, with an estimated order volume of approximately 17 billion for the last quarter of the previous year [6] 7. **Focus on Asset Quality Improvement**: The company is prioritizing stable profitability and asset quality improvement, with growth being a secondary focus [7] 8. **Future Revenue Projections**: The company anticipates stable performance in 2025, with a cautious outlook on growth rates, while 2026's performance will depend on this year's order volume [8] 9. **Replacement Cycle for Equipment**: The replacement cycle for locomotives is expected to contribute positively to revenue in 2025 and 2026, despite a potential decline in new passenger train orders [9] 10. **Long-term Profitability Potential**: The company aims to achieve profits exceeding 50 billion, driven by stable growth in the railway sector and new industries [10] 11. **Market Recovery Potential**: The company is seen as a stable growth asset, with potential for market recovery and an increase in market capitalization [13] 12. **Overall Industry Sentiment**: The railway equipment sector remains optimistic, with continuous growth in related industries and a stable demand outlook [14] Other Important but Possibly Overlooked Content - **Market Dynamics**: The company is positioned well within the domestic market, with a growing customer base and increasing demand for high-level repairs, which could provide additional revenue streams [12] - **Valuation Considerations**: The current market valuation of the company is seen as attractive, especially in comparison to historical price-to-book ratios, indicating potential for future price appreciation [13]

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香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代碼：1766） 董事會會議通知 中國中車股份有限公司（「本公司」）董事會（「董事會」）謹此公佈，董事會將於2025年4 月29日（星期二）舉行董事會會議，藉以考慮及批准（其中包括）本公司及其子公司截至 2025年3月31日止三個月未經審計的季度業績。 承董事會命 中國中車股份有限公司 董事長 孫永才 中國‧北京 2025年4月11日 於本公告日期，本公司的執行董事為孫永才先生及王銨先生；獨立非執行董事為史 堅忠先生、翁亦然先生及魏明德先生；職工董事為易冉女士。 ...

承董事會命 中國中車股份有限公司 董事長 孫永才 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代碼：1766） 董事會會議通知 中國中車股份有限公司（「本公司」）董事會（「董事會」）謹此公佈，董事會將於2025年4 月29日（星期二）舉行董事會會議，藉以考慮及批准（其中包括）本公司及其子公司截至 2025年3月31日止三個月未經審計的季度業績。 於本公告日期，本公司的執行董事為孫永才先生及王銨先生；獨立非執行董事為史 堅忠先生、翁亦然先生及魏明德先生；職工董事為易冉女士。 中國‧北京 2025年4月11日 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 登录新浪财经APP 搜索【信披】查看更多考评等级 （二）会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） （三）会议召开方式：网络文字互动 重要内容提示： ● 会议召开时间：2025年4月16日（星期三）16:00-17:00 ● 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） ● 会议召开方式：网络文字互动 ● 投资者可于2025年4月15日（星期二）16:00前登录上证路演中心网站首页点击"提问预征集"栏目或通 过公司邮箱crrc@crrcgc.cc进行提问。公司将在业绩说明会上对投资者普遍关注的问题进行回答。 中国中车股份有限公司（以下简称"公司"）于2025年3月28日收市后发布公司2024年年度报告，为便于 广大投资者更全面深入地了解公司2024年度经营成果、财务状况，公司计划于2025年4月16日（星期 三）16:00-17:00举行2024年度业 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代碼：1766） 海外監管公告 此海外監管公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條發出。 茲載列中國中車股份有限公司（「本公司」）在上海證券交易所網站刊登的《中國中車股 份有限公司關於召開2024年度業績說明會的公告》，僅供參閱。 承董事會命 中國中車股份有限公司 董事長 孫永才 中國 • 北京 2025年4月8日 於本公告日期，本公司的執行董事為孫永才先生及王銨先生；獨立非執行董事為史 堅忠先生、翁亦然先生及魏明德先生；職工董事為易冉女士。 证券代码：601766（A 股） 证券简称：中国中车（A 股） 公告编号：临 2025-021 证券代码： 1766（H 股） 证券简称：中国中车（H 股） 中国中车股份有限公司 关于召开 2024 年度业绩说明会的公告 本 ...