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中國中車股份有限公司 CRRC CORPORATION LIMITED (A Joint Stock Limited Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1766)

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中國中車股份有限公司 CRRC CORPORATION LIMITED (A Joint Stock Limited Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1766) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國中車股份有限公司 CRRC CORPORATION LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1766) 2021 INTERIM RESULTS ANNOUNCEMENT The board of directors of CRRC Corporation Limited (the “Company”) is pleased to announce the unaudited results of the Company and its subsidiaries for the six months ended 30 June 2021. This announcement, containing the main text of the 2021 interim report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in relation to information to accompany preliminary announcements of interim results. The 2021 interim report of the Company and its printed version will be published and delivered to the H shareholders of the Company and available for view on the websites of the Stock Exchange at http://www.hkex.com.hk and of the Company at http://www.crrcgc.cc on or before 30 September 2021. By order of the Board CRRC Corporation Limited Sun Yongcai Chairman Beijing, the PRC 27 August 2021 As at the date of this announcement, the executive Directors of the Company are Mr. Sun Yongcai and Mr. Lou Qiliang; and the independent non-executive Directors are Mr. Li Guo’an, Mr. Sun Patrick, Mr. Shi Jianzhong and Mr. Zhu Yuanchao. IMPORTANT I. The board of directors (the “Board”) and the supervisory committee (the “Supervisory Committee”) of the Company and its director(s) (the “Director(s)”), supervisor(s) (the “Supervisor(s)”) and senior management (the “Senior Management”) hereby warrant the truthfulness, accuracy and completeness of the contents of this interim report and that there is no false representation, misleading statement or material omission in this interim report, for which they will assume, severally and jointly, legal responsibility. II. This report has been considered and approved at the thirty-second meeting of the second session of the Board of the Company. All Directors attended the Board meeting. III. The interim report is unaudited. IV. Sun Yongcai, the Chairman of the Company, Li Zheng, the Chief Financial Officer, and Wang Jian, the head of the Accounting Department (person in charge of accounting affairs) warrant the truthfulness, accuracy and completeness of the financial statements in this interim report. V. The Company does not have any proposal on profit distribution or transfer of capital reserve fund during the reporting period considered and approved by the Board. VI. Disclaimer for forward-looking statements This report contains forward-looking statements that are based on subjective assumptions and judgements on future policies and economic trends and are subject to a variety of uncertainties. The actual results or trends may differ from these forward-looking statements. Investors should be aware that the forward-looking statements included in this report in relation to future plans, development strategies, etc. do not constitute any substantive commitment to investors by the Company. Investors are advised to pay attention to the investment risks. VII. There was no appropriation of funds by the controlling shareholder and its associates for non-operating purposes. VIII. There was no provision of guarantee by the Company in favour of any external party in violation of the prescribed decision-making procedures. IX. Major risk reminder The major risk factors faced by the Company include strategic risks, market risks, product quality risks, exchange rate risks, overseas operating risks and industrial structure adjustment risks, which have been described in detail in this report. Please refer to the description of “Potential risks” in “Report of Directors”. X. The 2021 interim results of the Company have been prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance of the PRC and the relevant rules. XI. Unless specified otherwise, the recording currency used in this report is Renminbi. CONTENTS Company Information 2 Results Highlights 4 Report of Directors 5 Corporate Governance 26 Significant Events 28 Change in Shares and Particulars of Shareholders 39 Relevant Information of Bonds 44 Financial Report 49 Definition 215 COMPANY INFORMATION 1. Name of the Company in Chinese 中國中車股份有限公司 Short name of the Company in Chinese 中國中車 Name of the Company in English CRRC Corporation Limited Short name of the Company in English CRRC Legal representative of the Company Sun Yongcai 2. Secretary to the Board Securities Affairs Representative Name Li Zheng (Acting Secretary to the Board) Jin Yonggang No. 16, Central West Fourth Ring Road, No. 16, Central West Fourth Ring Road, Contact address Haidian District, Beijing Haidian District, Beijing Telephone 010-51862188 010-51862188 Facsimile 010-63984785 010-63984785 E-mail [email protected] [email protected] 3. Registered address of the Company No. 16, Central West Fourth Ring Road, Haidian District, Beijing Postal code of registered address 100036 of the Company Business address of the Company No. 16, Central West Fourth Ring Road, Haidian District, Beijing Postal code of business address 100036 of the Company Company website www.crrcgc.cc E-mail [email protected] 4. Newspapers designated for A-share China Securities Journal, Shanghai Securities News, Securities Times information disclosure by the Company and Securities Daily Website designated by the CSRC for www.sse.com.cn publication of A-share interim report Website designated by the Stock www.hkex.com.hk Exchange for publication of H-share interim report Place where interim report of the The Board Office at No. 16, Central West Fourth Ring Road, Company is available for inspection Haidian District, Beijing Place of listing Stock abbreviation 5. Type of shares of the shares Stock abbreviation Stock code before change A shares SSE 中國中車 601766 中國南車 H shares HKSE CRRC 1766 CSR 6. During the reporting period, there was no change in the registration details of the Company. 7. Independent auditor KPMG Huazhen LLP Certified Public Accountants Registered PIE Auditor 8th Floor, KPMG Building, Oriental Plaza, 1 East Chang’an Avenue, Beijing, PRC 8. Joint company secretaries Wang Jian, TANG Tuong Hock 02 CRRC CORPORATION LIMITED INTERIM RESULTS ANNOUNCEMENT 2021 COMPANY INFORMATION 9. Authorized representatives Lou Qiliang, TANG Tuong Hock 10. Legal advisors As to Hong Kong law Baker & McKenzie 14th Floor, One Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong As to the PRC law Jia Yuan Law Offices F408 Ocean Plaza, 158 Fuxingmennei Avenue, Xicheng District, Beijing, PRC 11. Principal place of business in Unit H, 41st Floor, Office Tower, Convention Plaza, Hong Kong 1 Harbour Road, Wanchai, Hong Kong 12. Domestic registrar and transfer China Securities Depository and Clearing Corporation Limited Shanghai office Branch Correspondence address 36/F, China Insurance Building, 166 Lujiazui East Avenue, Pudong New District, Shanghai 13. Hong Kong registrar and transfer Computershare Hong Kong Investors Services Limited office Correspondence address 17M Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong CRRC CORPORATION LIMITED INTERIM RESULTS ANNOUNCEMENT 2021 03 RESULTS HIGHLIGHTS Unit: ‘000 Currency: RMB Change between the reporting period and Reporting period Same period the same period last Key Accounting Data (January to June) last year year (%) Revenue 95,464,015 89,403,326 6.78 Net profit attributable to shareholders of the Company 3,988,656 3,692,655 8.02 Net profit excluding non-recurring gain and loss attributable to the shareholders of parent company 2,799,866 3,055,866 -8.38 Net cash flow used in operating activities -11,571,341 -14,785,418 – Change between the reporting period End of the and the same period reporting period End of last year last year (%) Net assets attributable to the shareholders of parent company 141,861,493 143,021,347 -0.81 Total assets 437,319,629 392,380,368 11.45 Total equity at the end of the Period (shares) 28,698,864,088 28,698,864,088 – Change between the reporting period Reporting period Same period and the same period Key Financial Indicators (January to June) last year last year (%) Basic earnings per share 0.14 0.13 7.69 Diluted earnings per share 0.14 0.13 7.69 Basic earnings per share excluding non-recurring gain and loss 0.10 0.11 -9.09 Weighted average return on net assets 2.75 2.72 Increase of 0.03 ppt Weighted average return on net assets excluding non-recurring gain and loss 1.93 2.25 Decrease of 0.32 ppt 04 CRRC CORPORATION LIMITED INTERIM RESULTS ANNOUNCEMENT 2021 REPORT OF DIRECTORS A. BUSINESS OVERVIEW I. Industry and main business of the Company during the reporting period CRRC is the world’s largest and most diverse rolling stock supplier with advanced technology. The main scope of business includes: research and development, design, manufacturing, refurbishment, sales, leasing and technical services of railway locomotives, MUs, urban rail transit vehicles, engineering machinery, various electrical and mechanical equipment, electronic equipment and components, as well as electronic devices and environmental protection equipment; information consultation; industry investment and management; asset management; import and export business. (I) Industry development Internationally, with the increasingly intensified reform of the rail transit industry and the restructuring and integration of global industry giants, the industry competition landscape has changed profoundly and the competition has become increasingly fierce. In January 2021, Alstom France completed its acquisition of Bombardier’s transportation business. Domestically, the rail transit equipment market, construction of main line railways, and railway operation rights have been fully liberalized, and foreign investment thresholds have been further reduced.
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