Gelonghui November 30th 丨Harbin Electric (01133.HK) announced,On November 30, 2021, the company signed an entrustment management agreement with Dongzuo Company and Jiadian Co., Ltd. According to this, the company agreed to entrust all of the company's business and assets to Jiadian Co., Ltd., and Jiadian Co., Ltd. agreed to exercise the daily operation and management rights of Dongzuo Company, including but not limited to:

(1) According to the annual goals and plans set by the company, fully exercise Jiadian Co., Ltd.'s management authority relating to the daily operation and management of the equipment company, such as annual procurement or supply, production, sales, safety, environmental protection, finance, goods quality, and the management and allocation of personnel at the middle level and below;

(2) Participate in the revision and improvement of the company's internal management systems, including organizational set-up, personnel arrangements, employee attendance and performance evaluation systems, and supervise the implementation of such systems;

(3) The right to review in advance the relevant decisions relating to the daily operation and management matters of the Dongzou Company to be reviewed by the board of directors of the Costco Company in accordance with applicable laws and regulations and the articles of association of the Costco Company, coordinate meetings including meetings of the general manager's office, economic operation analysis meetings, etc., and supervise the implementation of the resolutions or decisions of such meetings. Jiadian Co., Ltd. may exhort those involved who have failed to implement the above resolution and/or decision. For the sake of clarity, the company's decision shall not conflict with Jiadian Co., Ltd.'s performance of entrusted management services. If such a situation occurs, Jiadian Co., Ltd. has the right to refuse such execution;

(4) Personnel assigned to key management positions in the mobile equipment company, as appropriate; (5) Other entrusted management matters carried out with the company's prior written consent.