CGN New Energy : (1) Appointment of Non-executive Director (2) Resignation of Non-executive Director and (3) Change in Members of Board Committees

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.

CGN NEW ENERGY HOLDINGS CO., LTD.

中國廣核新能源控股有限公司

(incorporated in Bermuda with limited liability)

(Stock code: 1811)

• (1) Appointment of Non-executive Director

• (2) Resignation of Non-executive Director and

(3) Change in Members of Board Committees

The Board of Directors (the "Board") of CGN New Energy Holdings Co., Ltd. (the "Company") announces that with effect from the conclusion of the Board meeting of the Company held on 24 March 2021:

• (1) Mr. Xia Linquan has been appointed as a non-executive Director;

• (2) Mr. Xing Ping has resigned as a non-executive Director, the chairman of the investment and risk management committee (the "IRM Committee"), a member of the audit committee (the "Audit Committee") and a member of the remuneration committee (the "Remuneration Committee"); and

• (3) Mr. Xia Linquan has been appointed as the chairman of the IRM Committee, a member of the Audit Committee and a member of the Remuneration Committee.

(1) APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board announces that with effect from the conclusion of the Board meeting held on 24 March 2021, Mr. Xia Linquan has been appointed as a non-executive Director.

Particulars of the Newly Appointed Non-Executive Director

Mr. Xia Linquan, aged 59, was appointed as a non-executive director, the chairman of the IRM Committee, a member of the Audit Committee and a member of the Remuneration Committee on 24 March 2021.

Mr. Xia has been a director of CGN Nuclear Power Operations and Management Co., Ltd. （中廣核核電運營有限公司） since January 2021. Mr. Xia is a senior political work specialis（t 高級政工師） and has over 36 years of experience in the management of power companies, development of nuclear power plants and their construction. From September 1984 to October 1992, Mr. Xia worked for Guangdong Nuclear Power Services Corporation （廣東核電服務總公司） and Guangdong Nuclear Power Joint Venture Co., Ltd. （廣東核電合營有限公司）, respectively. In October 1992, Mr. Xia joined Lingao Nuclear Power Co., Ltd（. 嶺 澳核電有限公司） and served for 11 years until January 2003, during which he held various positions and his last role held was the secretary to the disciplinary commission of the engineering department. From January 2003 to January 2008, Mr. Xia worked for Guangdong Nuclear Power Joint Venture Co., Ltd（. 廣東核 電合營有限公司） , Daya Bay Nuclear Power Operations and Management Co., Ltd. （大亞灣核電運營管理有限責任公司） and China Nuclear Power Design Co., Ltd. (Shenzhen) （深圳中廣核工程設計有限公司） . From January 2008 to July 2015, Mr. Xia was the deputy general manager of China Nuclear Power Engineering Co., Ltd（. 中廣核工程有限公司） . Subsequently, he was the Secretary of the Party Committee and general manager of CGN Cangnan Nuclear Power Co., Ltd（. 中廣核蒼南核電有限公司） until January 2021.

Mr. Xia Linquan graduated from Nanjing Institute of Technology （南京工學 院）with a degree in Power Systems and Automatic Chemistry （電力系統及其 自動化學系） in July 1983. He then obtained a postgraduate degree in Industrial Engineering （工程研究生學位） from Huazhong University of Science and Technology （華中科技大學） in June 2006.

Save as disclosed above, Mr. Xia does not (1) hold any directorship in other listed public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years and does not hold any other positions with the Company or other members of the Group, (2) have any relationship with any other director, senior management, substantial shareholder or controlling shareholder of the Company, or any of their respective associates, within the meaning of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and (3) have any interest in the shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of Laws of Hong Kong).

Mr. Xia has entered into an appointment letter with the Company for a term of three years commencing from 24 March 2021, subject to termination in certain circumstances as stipulated in the appointment letter. He is also subject to retirement by rotation and re-election at the annual general meetings in accordance with the bye-laws of the Company. Mr. Xia is not entitled to any remuneration pursuant to his appointment letter.

Save as disclosed above, there is no other matter in relation to the appointment of Mr. Xia that needs to be brought to the attention of the shareholders of the Company (the "Shareholders") or the Stock Exchange. There is no other information which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to welcome Mr. Xia to the Board.

(2) RESIGNATION OF NON-EXECUTIVE DIRECTOR

The Board also announces that with effect from the conclusion of the Board meeting held on 24 March 2021, Mr. Xing Ping has resigned as a non-executive Director, the chairman of the IRM Committee, a member of the Audit Committee and a member of the Remuneration Committee due to his other job arrangement.

Mr. Xing Ping has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the Shareholders or the Stock Exchange.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Xing Ping for his valuable contribution to the Company during his tenure of office.

(3) CHANGE IN MEMBERS OF BOARD COMMITTEES

The Board further announces that following the resignation of Mr. Xing Ping, Mr. Xia Linquan, a non-executive Director, has been appointed as the chairman of the IRM Committee, a member of the Audit Committee and a member of the Remuneration Committee, with effect from the conclusion of the Board meeting held on 24 March 2021.

The Board would like to extend its warm welcome to Mr. Xia for his new positions in the Company.

By Order of the Board

CGN New Energy Holdings Co., Ltd.

Li Yilun

President and Executive Director

Hong Kong, 24 March 2021

As at the date of this announcement (subsequent to the above changes become effective), the Board comprises seven Directors, namely:

Chairman and non-executive Director	:	Mr. Chen Sui
Executive Directors	:	Mr. Li Yilun (President) and
Mr. Zhang Zhiwu
Non-executive Director	:	Mr. Xia Linquan
Independent non-executive Directors	:	Mr. Wang Minhao,
Mr. Yang Xiaosheng and
Mr. Leung Chi Ching Frederick
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