China Public Procurement : RESIGNATION OF AUDITORS AND PROPOSED CHANGE OF AUDITORS

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CHINA PUBLIC PROCUREMENT LIMITED ʕ਷ʮ΍મᒅϞࠢʮ̡

(Incorporated in Bermuda with limited liability)

(Stock code: 1094)

RESIGNATION OF AUDITORS

AND

PROPOSED CHANGE OF AUDITORS

This announcement is made by China Public Procurement Limited (the "Company") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The board of directors (the "Board") of the Company announces that SHINEWING (HK) CPA Limited ("SHINEWING") resigned as the auditors of the Company with effect from 29 January 2018, as the Company cannot reach a mutual agreement with SHINEWING on the audit fee for the financial year ended 31 December 2017.

In the resignation letter of SHINEWING, SHINEWING would like to draw attention to the fact that a qualified opinion was issued on the consolidated financial statements of the Company for the year ended 31 December 2016 in respect of (i) limitation of its scope to assess the carrying amount and provision for impairment losses for deposit paid for potential acquisition of a subsidiary, trade and other receivables, loan receivables and amounts due from a shareholder and its subsidiaries; and (ii) absence of direct confirmations to verify the accuracy of trade and other receivables and amounts due from a shareholder and its subsidiaries. Details of the abovementioned were set out in the auditor's report dated 31 March 2017 in pages 59 to 64 of the Annual Report 2016 published by the Company. Other than the above matters, SHINEWING confirmed that there are no circumstances in respect of their resignation which they considered should be brought to the attention of the shareholders of the Company ("Shareholders").

The Board confirmed that SHINEWING has not yet commenced any audit work on the consolidated financial statements of the Group for the year ended 31 December 2017. The Board and the Audit Committee of the Company has confirmed that there is no disagreement between the Company and SHINEWING, and that they are not aware of any matters in respect of the resignation of SHINEWING and the proposed change of auditors that needs to be brought to the attention of the Shareholders.

The Board proposes to appoint RSM Hong Kong as the auditors of the Company to fill the casual vacancy following the resignation of SHINEWING and to hold office until the conclusion of the next annual general meeting of the Company.

Pursuant to the Bye-laws of the Company, the Directors shall as soon as practicable convene a special general meeting to seek the Shareholders' approval for the appointment of RSM Hong Kong as auditors of the Company by passing an ordinary resolution. A circular containing, among others, details of the change in auditors of the Company and notice of the special general meeting of the Company will be dispatched to the Shareholders on or before 30 January 2018.

The Board would like to take this opportunity to express its sincere gratitude to SHINEWING for their professional services rendered to the Company in the past years.

By order of the Board

China Public Procurement Limited

Zheng Jinwei

Chairman

Hong Kong, 29 January 2018

As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Zheng Jinwei (Chairman and Chief Executive), Mr. Ho Wai Kong (Honorary Chairman), Miss Ng Weng Sin and Ms. He Qian; one non-executive Director, namely Mr. Chen Limin; and three independent non-executive Directors, namely Ms. Wong Yan Ki, Angel, Mr. Deng Xiang and Mr. Jiang Jun.