Liugong: notice of resolution of the twenty-fourth (interim) meeting of the eighth board of directors

Security code: 000528 security abbreviation: liugong announcement no. : 2020-04

Guangxi Liugong Machinery Co.,Ltd.

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without any false records, misleading statements or major omissions.

Guangxi Liugong Machinery Co.,Ltd. (hereinafter referred to as "“ Throughout the company &;) The board of directors issued a letter of
on 21 February 2020 Notice by E-mail of the twenty-fourth (interim) meeting of the eighth board of directors to be held at 2020
It will be held on February 28, 2000 by on-site communication. The meeting should be attended by 11 directors, and the actual meeting was attended by 11 directors (including Mr. He shiji, Mr. Su zimeng, Mr. Wang hongjie, Mr. Liu bin, Mr. Han liyan, Mr. Wang cheng and Mr. Cheng cheng, Mr. Zheng yuhuang). The supervisors of the company's board of supervisors attended the meeting. The meeting was chaired by Mr. Zeng guangan, chairman of the board. The notice and convening of this meeting shall be in accordance with relevant laws, regulations, rules and articles of association, and shall be legal and effective. After deliberation at the meeting, the following resolution was made:

I. deliberating and passing the motion on the adjustment of the plan for the 2020 meeting of the board of directors of the company.

Agreed that the board of directors of the company should adjust the 2020 meeting plan according to the impact of the new coronavirus.

The vote was 11 in favour, 0 against and 0 abstentions.

Ii. Deliberating and passing the proposal on the company's global leasing and second mobile phone business strategy for 2020-2025.
Agree to the company's global leasing and mobile phone business strategy for 2020-2025 (the specific strategic content shall be separately issued internally).
The vote was 11 in favour, 0 against and 0 abstentions.

3. Deliberating and passing the motion on the acquisition of the equity and capital increase of Hertz equipment leasing co., LTD.

1. agree to purchase Hertz Equipment Rental Holdings (HK) Limited for $1. Hertz equipment leasing 100% equity.

2. Agree to increase the company's capital to Hertz equipment leasing after the acquisition by RMB 300 million in batches (in 2020 in batches
250 million yuan and a capital increase of 50 million yuan in 2021).

3. Agree to authorize the chairman of the company to make decisions on uncertain matters that need to be made by the board of directors in the follow-up to the acquisition project approved by the board of directors.

4. Agree to authorize Kevin Thieneman (Sullivan), vice President of the company, to execute the documents relating to the equity acquisition and capital increase.

The voting was 10 in favour, 1 against and 0 abstentions.

Mr. Wong min, director, voted against the motion. The reasons are as follows: The acquisition of Hertz equipment leasing company is not a great value for the main business and the timing is not good. Throughout the &;

It is hereby announced.

Guangxi Liugong Machinery Co.,Ltd. Board of directors

28 February 2020