China Lumena New Materials : DESPATCH OF CIRCULAR

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA LUMENA NEW MATERIALS CORP.

(In Provisional Liquidation)

(Incorporated in Cayman Islands with limited liability)

(Stock Code: 67)

DESPATCH OF CIRCULAR

Financial Adviser to the Company

Reference is made to the announcements of China Lumena New Materials Corp. (In Provisional Liquidation) (the "Company") dated 16 February 2017, 9 March 2017, 31 July 2017, 16 October 2017, 29 December 2017, 13 April 2018, 29 June 2018, 28 September 2018, 9 November 2018, 17 January 2019, 14 March 2019, 9 May 2019, 13 June 2019, 15 August 2019, 26 September 2019 and 21 November 2019 and the circular of the Company dated 29 November 2019 respectively (the "Circular"). Capitalised terms used herein shall have the same meanings as those defined in the Circular.

DESPATCH OF CIRCULAR

The Circular containing, among other things, details and information of (i) the Acquisition; (ii) the Share Offer; (iii) the Capital Reorganisation; (iv) the Creditors Schemes; (v) the business of the Target Group;

1. the Whitewash Waiver; (vii) the advice from the independent financial adviser to the Independent Shareholders; and (viii) a notice of EGM has been despatched to the Shareholders on 29 November 2019.

CONTINUED SUSPENSION OF TRADING IN THE SHARES

Dealing in the shares of the Company on the Main Board of The Stock Exchange has been suspended since 25 March 2014 and will remain suspended until further notice.

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The transactions contemplated under the Proposed Restructuring are subject to the fulfilment of a number of conditions precedent, and therefore may or may not materialise. The release of the Circular does not necessarily indicate that the trading in Shares will resume. Shareholders and potential investors of the Company should exercise caution when dealing in the Shares. The Company will keep the public informed of the latest developments by making further announcements as and when appropriate.

For and on behalf of

China Lumena New Materials Corp.

(In Provisional Liquidation)

Man Chun So

Yat Kit Jong

Simon Conway

Joint Provisional Liquidators

Acting as agents without personal liability

Hong Kong, 29 November 2019

As at the date of this announcement, the Board comprises three executive directors: Mr. Zhang Zhigang, Mr. Zhang Daming and Mr. Shi Jianping.

The Provisional Liquidators jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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