Yuhua 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.

YUHUA ENERGY HOLDINGS LIMITED

裕 華 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 23 September 2019 (the ''Announcement'') of Yuhua Energy Holdings 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 22 November 2019. Pursuant to the Subscription Agreement, 78,000,000 Subscription Shares, representing approximately 2.10% 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$0.122 per Subscription Share.

The gross proceeds from the Subscription are HK$9,516,000. The net proceeds, after deducting all relevant costs and expenses, are approximately HK$9,316,000. 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		upon completion of the	notes issued on 17 July 2019
	of this announcement		Subscription	into conversion shares
			Approximately				Approximately			Approximately
	Number of	% of Shares		Number of	% of Shares	Number of	% of Shares
	shares held	in issue		shares held	in issue	shares held	in issue
Mr. Lin Caihuo	928,284,839		25.541%	928,284,839	25.005%	928,284,839	21.510%
Oriental Gold Honour Joy
International Holdings
Limited	892,768,273		24.563%	892,768,273	24.048%	892,768,273	20.687%
Super Wise International
Investment Limited
(''Super Wise'')	540,000,000		14.858%	540,000,000	14.545%	540,000,000	12.513%
The Subscriber	0		0%	78,000,000	2.10%	78,000,000	1.808%
Win Win International
Strategic Investment
Funds SPC
(''Win Win'')	0		0%	0	0%	603,004,929	13.973%
Other public Shareholders	1,273,464,296		35.038%	1,273,464,296	34.302%	1,273,464,296	29.509%
Total	3,634,517,408		100%	3,712,517,408	100%	4,315,522,337	100%

As disclosed in the above shareholding table, immediately after completion of the Subscription, a minimum of 25% of the issued share capital of the Company is in public hands.

By Order of the Board

Yuhua Energy Holdings Limited

Yuan Hongbing

Executive Director

Hong Kong, 2 December 2019

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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. Liu Yang, Mr. Tche Heng Hou Kevin and Mr. Gao Han.

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