CECEP COSTIN New Materials : Announcements and Notices - Quarterly Update on Status of Resumption

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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)

QUARTERLY UPDATE ON STATUS OF RESUMPTION

Financial Adviser to the Company

This announcement is made by CECEP COSTIN New Materials Group Limited (In Provisional Liquidation) (the "Company") pursuant to Rule 13.24A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

Reference is made to the announcements of the Company dated 1 August 2018, 1 November 2018, 1 February 2019, 1 March 2019 and 29 March 2019 (the "Announcements"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements unless otherwise specified.

Recent Progress

The Company has submitted the New Listing Application to the Stock Exchange on 28 February 2019. As at the date of this announcement, the Company, the sponsor and relevant working parties are working closely to address comments from the regulators on the circular in respect of the New Listing Application (the "Circular"). The Circular will be dispatched to Shareholders as soon as practicable after the Company has obtained the in principle approval on the New Listing Application from the Listing Committee.

On 29 March 2019, the Company published the Group's outstanding annual financial results for the years ended 31 December 2016, 2017 and 2018, and interim financial results for the six months ended 30 June 2016, 2017 and 2018.

Save for the above, there is no further update on the Company's business operations, progress of implementing the Resumption Proposal or progress of satisfying the resumption conditions.

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The Company shall publish further announcement(s) regarding the transactions and arrangements under the Resumption Proposal in compliance with the Listing Rules, or any update on the development of the Company as and when appropriate.

Suspension of Trading

At the request of the Company, trading in the Shares on the Stock Exchange has been suspended with effect from 3:17 p.m. on 15 August 2016. Trading in the Shares 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 Stock Exchange.

The transactions contemplated under the Restructuring Agreement and the Resumption Proposal, including the Acquisition, are subject to a number of conditions precedent which may or may not be satisfied. In addition, the Listing Committee's approval on the New Listing Application may or may not be granted. Accordingly, the transactions contemplated under the Restructuring Agreement and the Resumption Proposal may or may not proceed.

The publication of this announcement does not indicate that the Resumption Proposal will be completed, nor does it indicate any decision or conclusion from the Stock Exchange or warrant any approval from the Stock Exchange on the resumption of trading in the shares of the Company. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares or securities 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, 30 April 2019

As at the date of this announcement, the board of directors comprises one executive director, Ms. Yang Jian Hui and two independent non-executive directors, Mr. Fan Tak Wah and Mr. Kelvin Kin- Cheong Ho.

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