China VAST Industrial Urban Development : VOLUNTARY ANNOUNCEMENT PROVISION OF GUARANTEE

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China VAST Industrial Urban Development Company Limited

中國宏泰產業市鎮發展有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 6166)

VOLUNTARY ANNOUNCEMENT

PROVISION OF GUARANTEE

This announcement is made by China VAST Industrial Urban Development Company Limited (the "Company") on a voluntary basis.

The board of directors (the "Board") of the Company hereby announces that, on 28 April 2021, the Company has entered into a parent company guarantee (the "Parent Company Guarantee") with the Langfang branch of Bank of Qinhuangdao Holding Co., Ltd. (秦皇 島銀行廊坊分行) (the "Bank of Qinhuangdao"), pursuant to which the Company agreed to provide a guarantee in favour of the Bank of Qinhuangdao to secure all obligations of Shijiazhuang Gaocheng Vast Urban Development Co., Ltd. (石家莊市藁城宏泰產業市鎮發 展有限公司), an indirect wholly-owned subsidiary of the Company (the "Subsidiary"), in relation to a facility agreement entered into between the Subsidiary as borrower and the Bank of Qinhuangdao as lender (the "Facility Agreement"). Pursuant to the Facility Agreement, the Bank of Qinhuangdao has agreed to grant a loan in the aggregate amount of approximately RMB114 million to the Subsidiary for the payment of construction fees (the "Loan"). The term of the Parent Company Guarantee commenced from the date of the Parent Company Guarantee to two years from the day after the due date for full repayment of the Loan by the Subsidiary under the Facility Agreement.

To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, the Bank of Qinhuangdao and its ultimate beneficial owner are third parties independent of the Company and its connected persons (as defined under the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Listing Rules").

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As the Parent Company Guarantee is provided by the Company to secure the obligations of its wholly-owned subsidiary, it does not constitute a notifiable transaction of the Company under Chapter 14 of the Listing Rules nor a connected transaction of the Company under Chapter 14A of the Listing Rules. Further, as it does not involve any pledge of shares by the controlling shareholders or covenants relating to specific performance of the controlling shareholders, the provision of the Parent Company Guarantee does not fall within the disclosure requirements under Chapter 13 of the Listing Rules. The Board wishes to make a voluntary disclosure to inform its shareholders and potential investors of the Group's latest business development.

By order of the Board

China VAST Industrial Urban Development Company Limited

Wang Jianjun

Chairman

Hong Kong, 29 April 2021

As at the date of this announcement, the executive Directors are Mr. WANG Jianjun, Mr. YANG Yun, Mr. WANG Yagang, Mr. HUANG Peikun and Ms. WANG Wei; the non-executive Director is Ms. ZHAO Ying; and the independent non-executive Directors are Dr. WONG Wing Kuen, Albert, Ms. HSIEH Yafang and Professor WANG Yijiang.

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