Jintai Energy : VOLUNTARY ANNOUNCEMENT UPDATE ON NEW BUSINESS

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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)

VOLUNTARY ANNOUNCEMENT

UPDATE ON NEW BUSINESS

This announcement is made by Jintai Energy Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') on a voluntary basis. The purpose of this announcement is to keep the shareholders and potential investors of the Company informed of the latest business development of the Group.

UPDATE ON OPERATION BUSINESS OF DIGITAL ENERGY TRADING PARKS

The Company has established relevant professional teams to carry out actively the business operation and services of digital energy trading parks across China.

The business operation of the digital energy trading parks is to cooperate with the local governments in China to establish and operate digital energy trading parks jointly through various cooperation agreements. The Company will be responsible for introducing quality energy enterprises into the trading parks and managing and providing services for such enterprises. The operation and service business of digital energy trading parks will generate income to the Group through: (1) receiving fixed service fees from enterprises in the trading parks on an annual basis; (2) receiving service fees based on the value-added services provided to the enterprises in the trading parks including the supply chain services and tax planning; (3) applying for tax incentives or financial subsidies from local governments based on economic benefits of the operation of the trading parks.

As of 27 July 2020, the Company has successfully signed cooperation agreements with 83 enterprises over 7 cities in China and introduced them into the trading parks.

The Company will keep the public informed of the latest developments by making further announcement(s) as and when appropriate.

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Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

Jintai Energy Holdings Limited

Yuan Hongbing

Executive Director

Hong Kong, 28 July 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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