Announcement of Sany Group on the implementation of the rotating chairman system

In order to meet the needs of the company's operation and management, the board of directors decided to implement the 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 chairman of the board of directors shall be six months, and the rotating term of duty shall be on duty.

3. The rotating chairman of the board of directors is the top leader of the group's daily operation during the period of 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 issues.

4. The rotating chairman fully implements the Sany culture in his daily work, especially strictly abides by the five cornerstone values of Sany in his daily work: (1) love the party and the country, (2) integrity and law-abiding, (3) customer first, (4) employee priority, (5) high standards of current affairs.

5. Mr. Liang Wengen no longer holds the position of chairman of the group due to his age, is no longer responsible for the daily operation and scheduling of the group, no longer sits on duty, and no longer participates in foreign affairs activities.

Based on the "two great opportunities" - one is the Chinese dream under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the second 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 "third entrepreneurship", Mr. Liang Wengen will continue to serve as the chairman of the Supervisory Board of the Group for a period of time in the future, and as the general counsel of the Group, he will provide guidance for the strategy, direction and key capacity building of the Group's development.

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

The announcement is hereby made

Sany Group Co., Ltd

May 15, 2023