Tianjin Tianbao Energy : POLL RESULTS OF THE SECOND EXTRAORDINARY GENERAL MEETING IN 2019 HELD ON DECEMBER 9, 2019 AND CHANGE OF EXECUTIVE DIRECTOR

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Tianjin Tianbao Energy Co., Ltd.*

天 津 天 保 能 源 股 份 有 限 公 司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1671)

POLL RESULTS OF THE SECOND EXTRAORDINARY GENERAL

MEETING IN 2019 HELD ON DECEMBER 9, 2019

AND

CHANGE OF EXECUTIVE DIRECTOR

Reference is made to the notice of the second extraordinary general meeting in 2019 (the "EGM") and the circular of Tianjin Tianbao Energy Co., Ltd.* (the "Company") dated October 23, 2019 (the "Circular"). Unless otherwise defined in this announcement, capitalized terms used in this announcement shall have the same meanings as those defined in the Circular.

The board of the Company (the "Board") is pleased to announce that the EGM was held at 10:00 a.m. on Monday, December 9, 2019 at the meeting room, 3/F, No. 35 Haibinba Road, Tianjin Port Free Trade Zone, Tianjin City, the PRC.

As at the date of the EGM, the issued Shares of the Company, i.e. the total number of Shares entitling the holders to attend the EGM and vote on the resolution proposed at the meeting was 159,920,907 Shares, comprising 115,600,907 Domestic Shares and 44,320,000 H Shares.

To the best knowledge, information and belief of the Board after having made all reasonable enquiries, there were no restrictions on any Shareholders to cast votes on the resolution at the EGM, and there were no Shares entitling the holders to attend the EGM and vote only against the resolution proposed at the meeting. No party had indicated his or her intention in the Circular to vote against the resolution proposed at the EGM or abstain from voting.

Shareholders or their proxies who represent a total of 115,600,907 voting Shares of the Company, representing approximately 72.29% of the total issued share capital of the Company as at the date of the EGM, attended the EGM. The EGM was legally and validly convened in compliance with the requirements of the PRC Company Law, relevant PRC laws and regulations, the Listing Rules and the Articles of Association. The EGM was chaired by Mr. Xing Cheng, an executive Director.

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POLL RESULTS OF THE EGM

At the EGM, the following resolution was considered and approved by way of open ballot, and the poll results are as follows:

		Number of votes and percentage of
	Ordinary Resolution (Note)	total number of votes
		For	Against		Abstain
1.	To consider and approve the proposed	115,600,907	0		0
	appointment of Mr. Zhou Shanzhong as an	（100%）	（0%）		（0%）
	executive Director of the first session of the
	Board.

Note: Please refer to the Circular for the full texts of the resolution.

As the above ordinary resolution was approved by more than half of the votes cast, the resolution was duly passed.

In compliance with the requirements of the Listing Rules, Computershare Hong Kong Investor Services Limited, the Company's H Share Registrar, acted as the scrutineer for the vote-counting at the EGM and performed calculations to obtain the above poll results based on the completed and signed poll voting forms collected by the Company. Mr. Shao Guoyong and Mr. Yang Kui, both being supervisors of the Company, also participated in vote-counting and scrutineering.

CHANGE OF EXECUTIVE DIRECTOR

Reference is made to the announcement of the Company dated October 10, 2019 in relation to the resignation of Mr. Gao Hongxin as an executive Director and the chairman of the Board and the Nomination Committee. As disclosed in the announcement, the resignation of Mr. Gao Hongxin will not become effective until the date on which the proposed appointment of a new executive Director is approved by the Shareholders, prior to which Mr. Gao Hongxin will continue to perform his duties as an executive Director and the chairman of the Board and the Nomination Committee pursuant to the Articles of Association and other relevant laws and regulations.

Following the approval by the Shareholders at the EGM, Mr. Zhou Shanzhong has been appointed as an executive Director of the first session of the Board. With effect from December 9, 2019, being the date on which the appointment of Mr. Zhou Shanzhong became effective, Mr. Gao Hongxin ceased to be an executive Director and the chairman of the Board and the Nomination Committee. Mr. Gao Hongxin has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the Shareholders. Mr. Gao Hongxin has also confirmed that he does not have any action or claim, existing or pending, against the Company. The Company and the Board would like to extend their sincere gratitude to Mr. Gao Hongxin for his valuable contributions during his tenure of office.

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The Board has also approved the appointment of Mr. Zhou Shanzhong as the chairman of the Board and the Nomination Committee since his appointment as an executive Director takes effect. The biographical details of Mr. Zhou Shanzhong are set out in the announcement of the Company dated October 16, 2019 and the Circular.

By order of the Board

Tianjin Tianbao Energy Co., Ltd.*

Zhou Shanzhong

Chairman

Tianjin, the People's Republic of China, December 9, 2019

As of the date of this announcement, the Board comprises Mr. Zhou Shanzhong, Mr. Xing Cheng and Mr. Peng Chong as executive directors; Mr. Yu Yang and Ms. Dong Guangpei as non-executive directors; and Mr. Lau Tsz Bun, Mr. Han Xiaoping and Ms. Yang Ying as independent non-executive directors.

• For identification purpose only

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