Common use of SUBSEQUENT EVENT Clause in Contracts

SUBSEQUENT EVENT. The establishment of CRRC Financial Leasing Company through the contribution of capital by the Company, CRRC Group, China Energy Reserve and Tianjin Trust is subject to approval from CBRC. Therefore, completion of the Transaction is subject to uncertainties. In addition, since CBRC will review the qualifications of the parties after the formal submission of the relevant materials, the parties to the Transaction (other than the Company and CRRC Group) and their respective shareholding may change. In order to proceed with the establishment of the CRRC Financial Leasing Company, the president of the Company is authorised by the Board to change the parties to the Transaction (other than the Company and CRRC Group) and their respective shareholding in accordance with the requirements of the relevant PRC regulatory authority. The Company will publish further announcements in relation to the establishment of the CRRC Financial Leasing Company in due course in accordance with the applicable regulatory requirements.

SUBSEQUENT EVENT. The establishment of CRRC Financial Leasing Company through the contribution of capital by the Company, CRRC Group, Yanzhou Coal, China Energy Reserve and Tianjin Trust is subject to approval from CBRC. Therefore, completion of the Transaction is subject to uncertainties. In addition, since CBRC will review the qualifications of the parties after the formal submission of the relevant materials, the parties to the Transaction (other than the Company and CRRC Group) and their respective shareholding may change. In order to proceed with the establishment of the CRRC Financial Leasing Company, the president of the Company is authorised by the Board to change the parties to the Transaction (other than the Company and CRRC Group) and their respective shareholding in accordance with the requirements of the relevant PRC regulatory authority. The Company will publish further announcements in relation to the establishment of the CRRC Financial Leasing Company in due course in accordance with the applicable regulatory requirements.