Hebei Yichen Industrial : VOLUNTARY ANNOUNCEMENT PROPOSED A SHARE OFFERING

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)

PROPOSED A SHARE OFFERING

The board (the "Board") of directors (the "Directors") of Hebei Yichen Industrial Group Corporation Limited (the "Company"; together with its subsidiaries, the "Group") hereby announces that the Board has resolved to commence the relevant preparatory work in respect of the proposed initial public offering of ordinary shares in the share capital of the Company to be traded in Renminbi on the Shenzhen Stock Exchange (the "Proposed A Share Offering"). The Board contemplates that the Proposed A Share Offering will provide the Group with further options to satisfy its capital needs and expedite the Group's entry into a new stage of development, and thus facilitate the future development of the Group and sustainable growth in the Group's revenue and returns to the shareholders of the Company (the "Shareholders").

As at the date of this announcement, the Company has not formulated the offering plan or determined the structure of the Proposed A Share Offering, and has not applied to any of the relevant regulatory authorities in the People's Republic of China (the "PRC") or anywhere else for approval of the Proposed A Share Offering. The Company shall convene the requisite general meeting(s) and/or class meeting(s) for the Shareholders to consider and, if thought fit, approve the Proposed A Share Offering pursuant to requirements under the Articles of Association of the Company after the final offering proposal has been finalised and approved by the Board. The Company will also comply with other applicable requirements under the relevant laws and regulations, including but not limited to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and make further announcement(s) on the major updates and developments as and when appropriate and/or required in connection with the Proposed A Share Offering.

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Shareholders and potential investors of the Company should note that the Proposed A Share Offering will be subject to, among others, the final decisions of the Board and the Shareholders and the approval of CSRC and other relevant regulatory authorities. Accordingly, Shareholders and potential investors of the Company should be aware that there is no assurance as to when the Proposed A Share Offering may take place or whether it will take place at all. Shareholders and potential investors of the Company should therefore exercise caution, and only place reliance on the information published by the Company, when they deal or contemplate dealing in any securities of the Company. If in doubt as to their positions or the actions to be taken, Shareholders and potential investors of the Company are strongly recommended to consult their professional advisers.

By order of the Board

Hebei Yichen Industrial Group Corporation Limited*

ZHANG Haijun

Chairman

Shijiazhuang, the PRC, 28 August 2020

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

• For identification purpose only

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