Beijing Energy International : FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING THE ACQUISITION OF ENTIRE EQUITY INTEREST IN A COMPANY IN THE PRC

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(Incorporated in Bermuda with limited liability)

(Stock code: 686)

FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING THE ACQUISITION OF ENTIRE EQUITY INTEREST

IN A COMPANY IN THE PRC

References are made to the announcements of Beijing Energy International Holding Co., Ltd. (the "Company") dated 4 December 2020 and 29 January 2021 (the "Announcements") in relation to the proposed acquisition of the entire equity interest in Yulin City Jiangshan Yongchen New Energy Limited*（榆林市江山永宸新能源有限公 司）by an indirect wholly-owned subsidiary of the Company. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

As stated in the Announcements, the Circular containing, inter alia, (i) further information of the Acquisition; (ii) financial information of the Target Company; (iii) unaudited pro forma financial information of the Group as enlarged by the Acquisition; (iv) valuation report of the Target Company; (v) general information; and (vi) the notice of special general meeting was expected to be despatched to the Shareholders on or before 26 February 2021.

As additional time is required for the Company to prepare and finalise certain information to be included in the Circular, the despatch of the Circular is expected to be further postponed to a date on or before 12 March 2021.

For and on behalf of

Beijing Energy International Holding Co., Ltd.

Zhang Ping

Chairman of the Board

Hong Kong, 26 February 2021

As at the date of this announcement, the executive directors of the Company are Mr. Zhang Ping (Chairman), Mr. Lu Zhenwei and Mr. Xu Jianjun; the non-executive directors of the Company are Mr. Sui Xiaofeng, Mr. Zhao Bing, Mr. Li Hao and Ms. Xie Yi; and the independent non-executive directors of the Company are Mr. Kwan Kai Cheong, Mr. Yen Yuen Ho, Tony, Mr. Chen Hongsheng and Ms. Jin Xinbin.

*For the purposes of identification only