On January 15, XCMG Construction Machinery Co., Ltd. (hereinafter referred to as "the Company") held its first extraordinary shareholders' meeting of 2026 and the first meeting of the tenth Board of Directors, successfully completing the board re-election and the appointment of senior management.

The first extraordinary shareholders' meeting of 2026 elected the members of the tenth Board of Directors. The first meeting of the tenth Board of Directors elected the Chairman of the Company and the members of the special committees of the Board, with Yang Dongsheng elected as Chairman. At the same time, the Board appointed the Company's President, Vice Presidents, Chief Financial Officer and Board Secretary.

This board transition comes in the opening year of the 15th Five-Year Plan period and is of great strategic significance for XCMG to accelerate the building of a modern industrial system, build a world-class enterprise and scale the global industry summit. At the meeting, Chairman Yang Dongsheng delivered a statement on behalf of the new Board of Directors and expressed sincere gratitude for the trust and support of all shareholders and for the high-quality development achievements of the ninth Board of Directors and the management team.

Over the past three years, the ninth Board of Directors maintained strategic focus and consistently pursued connotative high-quality development amid industry cyclical fluctuations. During this period, the Company's operating foundation became more solid, its scientific and technological innovation capabilities stronger, its internationalization level higher and its digital transformation more effective. It held firm at a market value of over 100 billion yuan and significantly outperformed the industry and peers, demonstrating strong resilience and vitality.

The new Board of Directors and management team will keep their responsibilities and mission firmly in mind, fully implement the spirit of the 20th National Congress of the Communist Party of China and the Fourth Plenary Session of the 20th Central Committee, adhere to the business development policy of "high quality, strong safety, world-class, steady growth," and closely focus on the primary goal of high-quality growth set out in the 15th Five-Year Plan. They will anchor on four growth paths—regional growth, industrial growth, scientific and technological innovation growth and business model growth—unswervingly promote the "fivefold" transformation and upgrading of the industry, forge a path to building a world-class enterprise with XCMG characteristics, and repay the expectations of shareholders, cadres and employees, and all sectors of society with high-quality development achievements.