Security Code: 603950 Security Abbreviation: Changyuan Donggu Announcement No.: 2020-020

Xiangyang Changyuan Donggu Industrial Co., Ltd.

Announcement of Resolutions Adopted at the Sixteenth Meeting of the Third Board of Directors

I. Details of the Board Meeting

(1) The convening of the Sixteenth Meeting of the Third Term of Xiangyang Changyuan Donggu Industrial Co., Ltd. (hereinafter referred to as the “Company”) (hereinafter referred to as the “Current Meeting”) complies with the provisions of applicable laws, administrative regulations, departmental rules, normative documents, and the Company’s Articles of Association.

(2) The Company issued the notice and materials for this meeting by email on October 19, 2020.

(3) The Company convened this meeting on October 30, 2020, in Conference Room No. 1, adopting a hybrid format combining in-person attendance with written voting.

(4) Eleven directors were expected to attend this board meeting, and all eleven directors attended. Among them, nine directors, including Li Zuoyuan and Li Xianfeng, participated in the meeting via written (remote) voting.

(5) This meeting was chaired by Chairman Li Zuoyuan. The Company’s Board Secretary, Securities Affairs Representative, all Supervisors, and other senior management personnel attended the meeting as non-voting observers.

II. Review of the Board Meeting

Upon review by the directors present at the meeting, the following proposals were approved. ：

Proposal 1: Consideration of the “Proposal Regarding the Company’s Third Quarter Report for 2020”

Voting results: [11] votes in favor, [0] votes against, [0] abstentions; the motion was adopted.

Proposal 2: Consideration of the “Proposal on the Securities Investment Management System”

Voting results: [11] votes in favor, [0] votes against, [0] abstentions; the motion was adopted.

For details, please refer to the “Securities Investment Management System of Xiangyang Changyuan Donggu Industrial Co., Ltd.” published on the website of the Shanghai Stock Exchange (www.sse.com.cn) on October 31, 2020.

Proposal 3: Consideration of the “Proposal on the Management of the Company’s Securities Investments”

In line with the company’s development strategy, and with the aim of broadening investment channels, enhancing capital efficiency, and increasing asset returns—while ensuring that the normal operations of the company and its subsidiaries are not disrupted and risks remain effectively controlled—the company plans to manage investments in securities using its own idle funds.

The company’s Supervisory Board has issued a review opinion on this matter, and the independent directors have expressed an approving independent opinion.

Voting results: [11] votes in favor, [0] votes against, [0] abstentions; the motion was adopted.

For details, please refer to the “Announcement of Xiangyang Changyuan Donggu Industrial Co., Ltd. on Securities Investment Management” published on the website of the Shanghai Stock Exchange (www.sse.com.cn) on October 31, 2020.

This is hereby announced.

Xiangyang Changyuan Donggu Industrial Co., Ltd.

Board of Directors

2020 October 31 of the year