Weichai Power Announces Board Refresh: Jiang Yan to Step Down; Zhang Bo Nominated as New Independent Director

Weichai Power Co., Ltd. disclosed plans to adjust its board composition at the forthcoming annual general meeting (AGM).

The company announced that incumbent independent non-executive director (INED) Jiang Yan will retire at the AGM. Her current term will reach the six-year statutory limit on 28 June 2026 under China Securities Regulatory Commission rules, which restrict INED tenure to a maximum of six consecutive years. Jiang will also relinquish her roles as chair of the Audit and Remuneration Committees and as a member of the Nomination and ESG Committees. She has confirmed no disagreements with the board and no matters requiring shareholder attention.

To fill the vacancy, the board has nominated Zhang Bo as an INED, subject to shareholder approval at the AGM. If elected, Zhang’s mandate will run through the close of the 2026 annual general meeting, coinciding with the current board’s term. The board has pre-approved her appointment as: • Chair of the Audit Committee • Chair of the Remuneration Committee • Member of the Nomination Committee • Member of the ESG Committee

Zhang, aged 42, holds a doctorate from the City University of New York and is a professor and Ph.D. supervisor at Renmin University of China’s Business School. She is recognised as a National High-end Accounting Talent and serves on the Ministry of Finance’s advisory panel for management accounting. Her past and current independent directorships include China Hi-Tech Group Co., Ltd. Zhang meets all independence criteria under Rule 3.13 of the Hong Kong Listing Rules and brings accounting and financial management expertise required for audit committee leadership.

Upon appointment, Zhang will enter into a letter of engagement with Weichai Power and receive an annual allowance of RMB0.20 million, consistent with the remuneration framework for other independent directors.

A circular detailing Zhang’s proposed appointment and the AGM notice will be dispatched to shareholders in accordance with Hong Kong Listing Rules.

The announcement, dated 28 May 2026, was issued by Board Chairman Ma Changhai. As of the announcement date, Weichai Power’s board comprises four executive directors, one employee representative director, four non-executive directors and five independent non-executive directors.