China Lumena New Materials : SANCTION OF CREDITORS SCHEMES

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)

SANCTION OF CREDITORS SCHEMES

Financial Adviser to the Company

Reference is made to the announcements of the Company dated 16 January 2020 and 7 February 2020 in relation to the Creditors Schemes (the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements.

The Company is pleased to announce that the Creditors Schemes were sanctioned by the High Court and the Grand Court on 23 January 2020 and 14 February 2020 respectively. Given that the Creditors Schemes were (i) duly approved by the requisite majorities of the Creditors; (ii) approved by the Shareholders by way of poll at the EGM; (iii) sanctioned by the Grand Court and the High Court, the Company expects the Creditors Schemes to become effective on or before 28 April 2020, subject to the filing of the court orders with the relevant companies registries in Hong Kong and the Cayman Islands respectively.

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 publication of this announcement does not indicate any decision or conclusion from the Stock Exchange nor warrant any approval from the Stock Exchange on the resumption of trading in 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, 14 February 2020

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

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