Sany Group Announcement on the Implementation of the Rotating Chairman System

In order to meet the needs of the company's operation and management, after the board of directors has studied and decided, Sany Group implements a rotating chairman system.

1. Mr. Tang Xiuguo and Mr. Xiang Wenbo, directors of the group, serve as the rotating chairman of the group.

2. The rotating term of office of the rotating chairman is six months, and the rotating duty is on duty.

3. The rotating chairman is the top leader of the group's daily operations during his duty, and his main responsibilities are as follows:

(1) Fully preside over the daily operation of the group.

(2) Preside over external reception and public relations affairs.

(3) Organize and implement major strategies such as digitalization, electrification, and internationalization.

(4) Preside over the collective decision-making of the board of directors on group-level changes and major matters.

4. The rotating chairman fully implements the Sany culture in his daily work, especially strictly abides by the five cornerstone values of Sany: (1) love the party and the country, (2) be honest and law-abiding, (3) customer first, (4) employees first, and (5) always have high standards in everything.

5. Due to his age, Mr. Liang Wengen no longer serves as the chairman of the group, is no longer responsible for the group's daily operation and scheduling, no longer sits on duty, and no longer participates in foreign affairs activities.

Based on the "two unprecedented opportunities" - one is the Chinese dream under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the other is the "super technology window" brought about by the fourth industrial revolution and the third energy revolution, and the group is in the initial stage of the "third entrepreneurship", Mr. Liang Wengen will continue to serve as the chairman of the group's supervisory board for a period of time to come, and as the general counsel of the group, he will provide guidance on the group's development strategy, direction and key capacity building.

6. The Group will further improve the system and decision-making mechanism of various professional committees.

This is hereby announced

Sany Group Co., Ltd

May 15, 2023