Hong Kong Exchanges and Clearing Limited

FORM 2 - Corporate Substantial Shareholder Notice

Form Serial Number:

CS20260715E00587

1. Date of relevant event:

10/07/2026
(dd/mm/yyyy)

2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):

14/07/2026
(dd/mm/yyyy)

3. Stock code:

03898

4. Name of listed corporation:

Zhuzhou CRRC Times Electric Co., Ltd. - H Shares

5. Class of shares:

H Shares

6. Number of issued shares in class:

478,795,300

7. Name of substantial shareholder:

JPMorgan Chase & Co.

8. Registered office:

270 Park Avenue, New York, New York, NY, 10017, United States

9. Principal place of business in Hong Kong:

N/A

15. Exchange on which listed:

New York Stock Exchange

16. Name of listed parent and exchange on which parent is listed:

N/A

17. Details of relevant event:

Brief description of relevant event

Capacity in which shares were/are held

Number of shares bought/sold or involved

Currency of transaction

On Exchange

Off Exchange

Before relevant event

After relevant event

Highest price (per share)

Average price (per share)

Average consideration (per share)

Nature of consideration

Long position

Short position

1403	You came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased because: any other event (you must briefly describe the relevant event in the Supplementary Information box)

2201	Interest of corporation controlled by you

2201	Interest of corporation controlled by you

491,663

18. Total shares immediately before the relevant event:

	Total number of shares	Percentage figure (%)
Long position	33,827,843	7.06
Short position	4,567,718	0.95
Lending Pool	12,198,296	2.54

19. Total shares immediately after the relevant event:

	Total number of shares	Percentage figure (%)
Long position	34,246,126	7.15
Short position	5,059,381	1.05
Lending Pool	12,157,048	2.53

20. Capacity in which interests disclosed in Box 19 are held:

Capacity code

Number of shares

2101	Beneficial owner

Long position	5,166,686
Short position	5,059,381

2102	Investment manager

Long position	16,870,292
Short position	0

2106	Person having a security interest in shares

Long position	52,100
Short position	0

2502	Approved lending agent

Long position	12,157,048
Short position	0

21. Further information in respect of derivative interests:

Derivatives code

Number of shares

4102	Listed derivatives - Cash settled

Long position	0
Short position	373,900

4105	Unlisted derivatives - Physically settled

Long position	131,564
Short position	384,328

4106	Unlisted derivatives - Cash settled

Long position	3,403,500
Short position	632,300

22. Further information in relation to interests of corporations controlled by substantial shareholder:

Name of controlled corporation

Address and place of incorporation

Name of controlling person

% control

Direct interest (Y/N)

Number of shares

JPMorgan Asset Management (China) Company Limited

42F&43F 479 Lujiazui Ring Road China (Shanghai) Pilot Free Trade Zone Shanghai 200120 China

JPMorgan Asset Management Holdings Inc.

100.00

Long position	21,800
Short position	0

JPMorgan Asset Management (Taiwan) Limited

20F & 21, No.1 Song Zhi Rd, Xin Yi District, Taipei City, Taiwan. Taipei 110 Taiwan (Province of China)

JPMorgan Asset Management (Asia) Inc.

100.00

Long position	392,400
Short position	0

J.P. Morgan Securities LLC

270 Park Avenue New York NY 10017 United States

J.P. Morgan Broker-Dealer Holdings Inc.

100.00

Long position	860,800
Short position	860,800

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

60 Victoria Embankment London EC4Y0JP England

JPMORGAN ASSET MANAGEMENT INTERNATIONAL LIMITED

100.00

Long position	97,800
Short position	0

J.P. Morgan Investment Management Inc.

270 Park Avenue New York NY 10017 United States

JPMorgan Asset Management Holdings Inc.

100.00

Long position	2,107,299
Short position	0

JPMorgan Asset Management (Japan) Limited

Tokyo Building, 7-3 Marunouchi 2 Chome, Chiyoda-ku, Tokyo 100 6432 Japan

JPMorgan Asset Management (Asia) Inc.

100.00

Long position	406,100
Short position	0

JPMorgan Chase Bank, National Association

1111 Polaris Parkway Columbus OH 43240 United States

JPMorgan Chase & Co.

100.00

Long position	12,954,041
Short position	0

J.P. Morgan Alternative Asset Management, Inc.

270 Park Avenue New York NY 10017 United States

JPMorgan Asset Management Holdings Inc.

100.00

Long position	1,800
Short position	0

JPMorgan Asset Management (Asia Pacific) Limited

19 & 20/F, Chater House 8 Connaught Road Central Hong Kong Hong Kong

JPMorgan Asset Management (Asia) Inc.

100.00

Long position	13,046,100
Short position	0

J.P. MORGAN SECURITIES PLC

25 Bank Street Canary Wharf London E14 5JP England

J.P. MORGAN CAPITAL HOLDINGS LIMITED

100.00

Long position	4,357,986
Short position	4,198,581

JPMorgan Asset Management Holdings Inc.

270 Park Avenue New York NY 10017 United States

JPMorgan Chase Holdings LLC

100.00

Long position	16,073,299
Short position	0

JPMorgan Chase Holdings LLC

270 Park Avenue New York NY 10017 United States

JPMorgan Chase & Co.

100.00

Long position	16,934,099
Short position	860,800

JPMorgan Asset Management (Asia) Inc.

270 Park Avenue New York NY 10017 United States

JPMorgan Asset Management Holdings Inc.

100.00

Long position	13,844,600
Short position	0

J.P. Morgan Broker-Dealer Holdings Inc.

4 Chase Metrotech Center 4th Floor Brooklyn NY 11245 United States

JPMorgan Chase Holdings LLC

100.00

Long position	860,800
Short position	860,800

JPMORGAN ASSET MANAGEMENT INTERNATIONAL LIMITED

60 Victoria Embankment London EC4Y0JP England

JPMorgan Asset Management Holdings Inc.

100.00

Long position	97,800
Short position	0

J.P. MORGAN CAPITAL HOLDINGS LIMITED

25 Bank Street Canary Wharf London E14 5JP England

J.P. Morgan International Finance Limited

100.00

Long position	4,357,986
Short position	4,198,581

J.P. Morgan International Finance Limited

270 Park Avenue New York NY 10017 United States

JPMorgan Chase Bank, National Association

100.00

Long position	4,357,986
Short position	4,198,581

JPMorgan Chase Bank, National Association

1111 Polaris Parkway Columbus OH 43240 United States

JPMorgan Chase & Co.

100.00

Long position	4,357,986
Short position	4,198,581

23. Further information in relation to interests held by substantial shareholder jointly with another person:

Name of joint shareholder	Address	Number of shares

24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:

Names of trust	Address	Status code	Number of shares

25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):

Names of other parties	Address	Number of shares

Total number of shares in which a substantial shareholder is interested under sections 317 and 318

26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:

Names	Address	Relationship Code	Percentage (%)

27. Supplementary information:

JP Morgan Chase & Co. came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased.

28. Log/Serial Number of the previous form:

29. Number of concert party document(s) under section 317 attached/uploaded:

Date of filing this Form 2:

15/07/2026
(dd/mm/yyyy)