Jintai Energy : PLACING OF NEW SHARES UNDER GENERAL MANDATE COMPLETION ANNOUNCEMENT

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.

JINTAI ENERGY HOLDINGS LIMITED

金 泰 能 源 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2728)

PLACING OF NEW SHARES UNDER GENERAL MANDATE

COMPLETION ANNOUNCEMENT

Reference is made to the announcement dated 24 June 2020 (the ''Announcement'') and the supplemental announcement dated 2 July 2020 of Jinatai Energy Holding Limited (the ''Company'') in respect of the Subscription.

Unless otherwise defined, terms used in this announcement shall have the same meaning as those defined in the Announcement.

COMPLETION OF THE SUBSCRIPTION

The Board is pleased to announce that the conditions of the Subscription have been fulfilled and completion of the Subscription took place on 3 August 2020. Pursuant to the Subscription Agreement, 742,503,480 Subscription Shares, representing approximately 16.67% of the issued share capital of the Company as enlarged by the Subscription Shares, have been successfully subscribed by the Subscriber at the Subscription Price of HK$0.128 per Subscription Share.

The gross proceeds from the Subscription are HK$95,040,400. The net proceeds, after deducting all relevant costs and expenses, are approximately HK$94,840,000. Details of the use of the proceeds are set out in the Announcement.

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CHANGE OF THE SHAREHOLDING STRUCTURE

The shareholding structures as at (i) the date of the Announcement, (ii) immediately after the completion of the Subscription and (iii) upon completion of the Subscription and full conversion of the convertible notes issued on 17 July 2019 into conversion shares (assuming there is no other change in the shareholding structure) are as follows:

									Shareholding upon completion
									of the Subscription and full
					Shareholding immediately	conversion of the convertible
	Shareholding as at the date of	upon completion of	notes issued on 17 July 2019
	the Announcement	the Subscription	into conversion shares
			Approximately			Approximately			Approximately
	Number of	% of Shares in	Number of	% of Shares in	Number of	% of Shares in
	shares held	issue	shares held	issue	shares held	issue
Mr. Lin Caihuo	928,284,839	25.00%	928,284,839		20.84%	928,284,839		18.35%
Oriental Gold Honour Joy
International Holdings
Limited	892,768,273	24.05%	892,768,273	20.04%	892,768,273		17.65%
Mr. Chen Jinle	Nil	Nil	9,020,000	0.20%	9,020,000	0.18%
Mr. Yuan Hongbing	4,000	0.0001%	792,000	0.02%	792,000		0.02%
The Subscriber	Nil	Nil	742,503,480		16.67%	742,503,480		14.68%
Super Wise International
Investment Limited	540,000,000	14.55%	540,000,000	12.12%	540,000,000		10.68%
Win Win International
Strategic Investment Funds
SPC	0		0	0		0	603,004,929		11.92%
Other public Shareholders	1,351,460,296		36.40%		1,341,652,296		30.11%		1,341,652,296		26.52%
Total	3,712,517,408		100%	4,455,020,888		100%	5,058,025,817		100%

PUBLIC FLOAT

The Company will be able to comply with the public float requirement under the Listing Rules immediately after completion of the Subscription.

By Order of the Board

Jintai Energy Holdings Limited

Yuan Hongbing

Executive Director

Hong Kong, 3 August 2020

As at the date of this announcement, the Company has three executive Directors, namely Mr. Chen Jinle (Chairman), Mr. Lin Caihuo and Mr. Yuan Hongbing, one non-executive Director, namely Mr. Wang Shoulei, and three independent non-executive Directors, namely Mr. Tche Heng Hou Kevin, Mr. Gao Han and Mr. Mak Tin Sang.

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