Stock Code: 603577   Short Form of Stock: Huijintong     Announcement No.: 2020-050  Qingdao Huijintong Power Equipment Co.,Ltd

Due to work adjustment, Mr. Liu Kai resigned from the position of chairman of the board of directors and member of the professional committee of the board of directors, Mr. Zhang Lianhui resigned from the position of director and deputy general manager of the company, and Mr. Zhang Xing resigned from the position of director, member of professional committee and deputy general manager of the company. After resigning the above positions, Mr. Liu Kai and Mr. Zhang Lianhui will no longer hold any positions in the company, and Mr. Zhang Xing will hold other positions in the company. The above directors will continue to perform the duties of directors and members of professional committees of the board of directors before the new directors are elected by the general meeting of shareholders.

Announcement on Change of Directors.pdf