The Hong Kong Exchanges and Clearing Limited and the stock exchange of Hong Kong Limited shall not be responsible for the contents of this announcement, nor make any statement on its accuracy or completeness, and expressly state that they shall not be liable for any loss arising from or reliance on all or any part of the contents of this announcement.
(a company limited by shares incorporated in the people’s Republic of China)
Code: 3898
Announcement of quarterly opinions on continuing connected transactions
In this connection, I would like to mention the bulletin (“notice”) issued in March 26, 2019 by the Zhuzhou electric vehicle Limited by Share Ltd (“our company”), together with its Affiliated Companies, collectively referred to as the “group”, and its circulars (“Circular”) issued in April 30, 2019. The company and Crrc Corporation Limited(601766) Group Limited (” Crrc Corporation Limited(601766) group”), together with its Affiliated Companies and their respective contacts, but not the group, collectively referred to as ” Crrc Corporation Limited(601766) group”, provided for each group of products, parts, technical services, after customer service, and Crrc Corporation Limited(601766) group in March 26, 2019. Management services and other related services and related R & D, production and testing facilities entered into a mutual supply framework agreement (the “agreement”) for a period of three years from January 1, 2020 to December 31, 2002. Details of these mutual supply transactions are set out in the notice and the circular Crrc Corporation Limited(601766) group company is a connected person of the company. Therefore, according to the Securities Listing Rules of the stock exchange of Hong Kong Limited (“Listing Rules”), the above mutual supply transactions between the group and such companies of CRRC group constitute the continuous connected transactions of the company, and shall comply with the reporting, announcement and approval requirements of independent shareholders in Chapter 14A of the listing rules. At the AGM meeting held in June 20, 2019, the company has obtained the approval of the independent shareholders for the transaction to be carried out under the agreement.
In order to protect the rights and interests of the independent shareholders of the company, the company has adopted a series of corporate governance measures, including but not limited to the independent non-executive directors of the company reviewing the relevant transaction terms under the agreement on a quarterly basis (including the above mutual supply transactions with the companies of Crrc Corporation Limited(601766) group), And disclose its opinions on such transactions to the shareholders of the company in the form of announcement. In the opinion of the independent non-executive directors of the company, the transactions were: (1) carried out in the general ordinary course of business of the group in the fourth quarter ended 31 December 2021; (2) In accordance with general commercial terms, which are fair and reasonable and in the overall interests of the company and its shareholders;
(3) In accordance with the pricing policy of the group and the terms of relevant agreements regulating such transactions; And (4) did not exceed the annual ceiling for 2021 as set out in the circular.
Accept the order of the board of directors
Zhuzhou Crrc Times Electric Co.Ltd(688187) Chairman
Dong Lin Li
Zhuzhou, China, on March 29, 2022, on the date of this announcement, the chairman and executive director of the company is Li Donglin; The vice chairman and executive director is Liu Kean; Other executive directors are Shang Jing and Yan Wu; The non-executive director is Zhang Xinning; And independent non-executive directors are Chen Jinrong, Pu Bingrong, Liu Chunru, Chen Xiaoming and Gao Feng.
