CECEP COSTIN New Materials : Announcements and Notices - Further Adjournment of Hearing of the Winding Up Petition, Recognition of the Appointment of Joint Provisional Liquidators by the High Court of Hong Kong and Vacancy of the Chief Financial Officer, Company Secretary and Authorized Representative

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CECEP COSTIN NEW MATERIALS GROUP LIMITED

(IN PROVISIONAL LIQUIDATION)

中國節能海東青新材料集團有限公司（臨時清盤中）

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2228)

(1) FURTHER ADJOURNMENT OF HEARING

OF THE WINDING UP PETITION

(2) RECOGNITION OF THE APPOINTMENT OF JOINT PROVISIONAL

LIQUIDATORS BY THE HIGH COURT OF HONG KONG

AND

(3) VACANCY OF THE CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND AUTHORIZED REPRESENTATIVE

This announcement is made by CECEP COSTIN New Materials Group Limited (In Provisional Liquidation) (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 22 November 2017 in relation to, among others, the appointment of joint provisional liquidators and the adjournment of hearing of the winding up petition (the "Announcement"). Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless otherwise specified.

FURTHER ADJOURNMENT OF HEARING OF THE WINDING UP PETITION

By virtue of an order dated 13 March 2018, the Court ordered that the hearing of the Petition be adjourned and relisted for hearing on 27 September 2018 (Cayman Islands time).

Further announcement(s) will be made by the Company to inform the shareholders of the Company and the public on any material development of the Winding Up Petition as and when appropriate.

RECOGNITION OF THE APPOINTMENT OF JOINT PROVISIONAL LIQUIDATORS BY THE HIGH COURT OF HONG KONG

The appointment of the JPLs was recognised by the High Court of Hong Kong by an order of the Honourable Mr Justice Harris dated 14 March 2018 (the "Recognition Order"). By the Recognition Order the JPLs were explicitly granted various powers in Hong Kong which are substantially similar to powers of the JPLs as set out in the Order as referred to in the Announcement.

VACANCY OF THE CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND AUTHORIZED REPRESENTATIVE

The employment of Mr. Chan Kwok Yuen Elvis ("Mr. Chan") with the Company was terminated by the Company with effect from 28 February 2018. By virtue of the notice of termination, Mr. Chan ceased to be the chief financial officer, company secretary and authorized representative of the Company from 28 February 2018.

Mr. Chan has confirmed that he has no disagreement with the Company and there is no matter that needs to be brought to the attention of the HKSE or the shareholders of the Company in this regard.

The Company is in the process of identifying a suitable candidate to fill the vacancy of chief financial officer, company secretary and authorized representative caused by the termination of Mr. Chan's employment, and will publish further announcement once such appointment is confirmed.

SUSPENSION OF TRADING OF THE SHARES

At the request of the Company, trading in the shares of the Company on the HKSE has been suspended with effect from 3:17 p.m. on 15 August 2016. Trading in the shares of the Company will continue to be suspended until further notice and full satisfaction of the Resumption Conditions and such other further conditions that may be imposed by the HKSE.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

For and on behalf of

CECEP COSTIN New Materials Group Limited

(In Provisional Liquidation)

Man Chun So

Yat Kit Jong

Simon Conway

Joint Provisional Liquidators

Acting as agents without personal liability

Hong Kong, 12 April 2018

As at the date of this announcement, the Board comprises three executive Directors, Mr. Xu Zhou, Mr. Wang Li, and Mr. Yang Yonghui; two non-executive Directors, Mr. Zeng Wu and Ms. Ma Yun; and three independent non-executive Directors, Mr. Feng Xue Ben, Mr. Wong Siu Hong and Mr. Xu Qinghua.