On September 27, 2024, China XD Electric (601179.SH) announced that the company held the 29th meeting of the fourth board of directors, approving the "Proposal on the Election of the Chairman of the Company," agreeing to elect Mr. Zhao Yongzhi as the Chairman of the company's fourth board of directors, appointing Mr. Zhao Yongzhi as the Chairman of the Board of Directors' global strategy planning and execution committee, with a term until the end of this board of directors. As of the date of this announcement, Mr. Zhao Yongzhi does not hold any company shares.

According to the company's Articles of Association, Mr. Zhao Yongzhi will serve as the company's legal representative from the day he is elected as Chairman of the company. The company will handle legal representative business registration changes according to relevant regulations.