Asia Energy Logistics : INSIDE INFORMATION

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This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

ASIA ENERGY LOGISTICS GROUP LIMITED ԭݲঐ๕يݴණྠϞࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock Code: 351)

INSIDE INFORMATION

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

The Board wishes to inform the Shareholders and potential investors that, based on the preliminary review on the unaudited consolidated management accounts of the Group and information currently available to the Board, the Group expects to report a profit attributable to the owners of the Company from discontinued operation, as a result of liquidation and dissolution of certain subsidiaries operating in shipping and logistics business, of approximately HK$159.7 million for the year ended 31 December 2020, as compared to a profit attributable to the owners of the Company from discontinued operation, as a result of disposal of certain subsidiaries operating in railway construction and operation business, of approximately HK$27.2 million for the corresponding year ended 31 December 2019.

Shareholders and potential investors should exercise caution when dealing in the shares of the Company.

This announcement is made by Asia Energy Logistics Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary review on the unaudited consolidated management accounts of the Group and information currently available to the Board, the profit attributable to the owners of the Company from discontinued operation as a result of liquidation and dissolution of certain subsidiaries operating in shipping and logistics business for the year ended 31 December 2020 is approximately HK$159.7 million, compared to the profit attributable to the owners of the Company from discontinued operation as a result of disposal of certain subsidiaries operating in railway construction and operation business for the corresponding year in 2019 of approximately HK$27.2 million.

The Company is in the process of finalizing the consolidated annual results of the Group for the year ended 31 December 2020. The information contained in this announcement is based on a preliminary review by the management of the Company of information currently available to the Board, and is not based on any figures or information which have been audited or reviewed by the auditors of the Company. Shareholders and potential investors are advised to read carefully the announcement of the annual results of the Group for the year ended 31 December 2020 which is expected to be released on 19 March 2021.

Shareholders and potential investors should exercise caution when dealing in the shares of the Company.

By Order of the Board

Asia Energy Logistics Group Limited

Pang Yuet

Chairman and Executive Director

Hong Kong, 5 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Pang Yuet (Chairman), Ms. Jian Qing and Mr. Sun Peng; and the independent non-executive directors of the Company are Mr. Ng Kwun Wan, Mr. Wong Cheuk Bun and Mr. Hon Ming Sang.