Hangzhou Cogeneration: Chairman Li Bing Departs; Wang Yan Nominated as Director Candidate

Hangzhou Thermal Power announced that Chairman Li Bing resigned from his positions as Chairman of the Company, Director, Chairman and member of the Board Strategy Committee, and concurrently resigned as legal representative due to work adjustments, with the resignation report taking effect from the date of delivery to the Company and the Board of Directors. Li Bing does not hold any shares of the Company and there are no unfulfilled public commitments. Following qualification review and approval by the Board Nomination Committee, the 27th meeting of the third Board of Directors deliberated and agreed to nominate Wang Yan as a candidate for non-independent director of the third Board of Directors. The relevant proposal will be submitted to the Company's fourth extraordinary shareholders' meeting in 2026 for deliberation, and her term of office shall run from the date of approval by the shareholders' meeting until the expiration of the third Board of Directors. This change will not affect the normal operation of the Company's Board of Directors.