Hebei Yichen Industrial : Supplemental Announcement on Resignation of Executive Director and Proposed Election of Executive Director

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.

Hebei Yichen Industrial Group Corporation Limited*

河北翼辰實業集團股份有限公司

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 1596)

SUPPLEMENTAL ANNOUNCEMENT ON

RESIGNATION OF EXECUTIVE DIRECTOR

AND

PROPOSED ELECTION OF EXECUTIVE DIRECTOR

SUPPLEMENTAL ANNOUNCEMENT ON RESIGNATION OF EXECUTIVE DIRECTOR

Reference is made to the announcement of Hebei Yichen Industrial Group Corporation Limited (the "Company") dated 23 December 2019 (the "Announcement") regarding the resignation of Mr. Zhang Ligang (張立剛) ("Mr. Zhang") as an executive director and a member of the corporate governance committee and the strategy committee of the Company.

As stated in the Announcement, Mr. Zhang's resignation was due to personal reasons. The board (the "Board") of directors (the "Directors") of the Company wishes to supplement that Mr. Zhang has tendered his resignation due to his personal commitment and desire to devote more time to directing and coordinating the daily operation and management of the Group as the general manager.

Save as stated above, all other information set out in the Announcement remains unchanged.

PROPOSED ELECTION OF EXECUTIVE DIRECTOR

In order to fill the vacancy following the resignation of Mr. Zhang as an executive Director, Ms. Gu Xiaohui ("Ms. Gu") has been nominated by the nomination committee and the Board as a candidate for the position of executive Director. The election of Ms. Gu will be proposed at an extraordinary general meeting of the Company ("EGM") for the shareholders of the Company ("Shareholders") to consider and, if thought fit, approve the election, among others.

- 1 -

Set forth below are the biographical details of Ms. Gu:

Ms. Gu, aged 35, obtained a master's degree in economic law from the China University of Political Science and Law in July 2010. From 2010 to 2014, Ms. Gu worked at Beijing Tianyuan Law Firm. Since 2015, Ms. Gu has been serving at the investment and development department of the Beijing Infrastructure Investment Company Limited* (北京市基礎設 施投資有限公司). Ms. Gu is currently an assistant to the general manager of the Beijing Infrastructure Investment Company Limited and the director of Beijing Cornerstone Fund Management Company Limited* (北京基石基金管理有限公司).

As at the date of this announcement, Ms. Gu does not hold any interests in any shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong), and Ms. Gu does not hold any other position with the Company or other members of the Group nor does she have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company or any of their associates (as defined in the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange")). Ms. Gu does not hold any position in other companies listed on the Stock Exchange or any other securities market during the three years immediately preceding the date of this announcement. Save as disclosed above, there is no other information in relation to the proposed election of Ms. Gu which is required to be disclosed pursuant to any of the requirements set out in rule 13.51(2) of the Listing Rules. Save for the above, there is no other matter that needs to be brought to the attention of the Shareholders.

Ms. Gu, if elected at the EGM, shall hold office as an executive Director of the second session of the Board from the conclusion of the EGM until the expiration of the term of office of the second session of the Board, i.e. until 5 December 2021. She will enter into a service agreement with the Company, subject to approval by the Shareholders of the same at the EGM, under which she is not expected to receive any remuneration for the holding of her office.

The EGM will be convened for the Shareholders to consider and, if thought fit, approve the election of Ms. Gu as an executive Director and the service agreement of Ms. Gu, among others. A circular containing the details of, among others, the foregoing matters, together with the notice of the EGM will be despatched to the Shareholders as soon as practicable.

By order of the Board

Hebei Yichen Industrial Group Corporation Limited*

ZHANG Haijun

Chairman

Shijiazhuang, The PRC, 30 December 2019

As at the date of this announcement, the Board comprises Mr. Zhang Haijun, Mr. Wu Jinyu, Mr. Zhang Lihuan, Mr. Zhang Chao and Ms. Fan Xiulan as the executive Directors; and Mr. Jip Ki Chi, Mr. Wang Qi and Mr. Zhang Liguo as the independent non-executive Directors.

• For identification purpose only

- 2 -