China Energine International : (1) RESIGNATION OF CEO AND EXECUTIVE DIRECTOR (2) APPOINTMENT OF CEO AND EXECUTIVE DIRECTOR AND (3) CHANGE IN COMPOSITION OF BOARD COMMITTEES

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CHINA ENERGINE INTERNATIONAL (HOLDINGS) LIMITED 中 國 航 天 萬 源 國 際（ 集 團 ）有 限 公 司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1185)

1. RESIGNATION OF CEO AND EXECUTIVE DIRECTOR
2. APPOINTMENT OF CEO AND EXECUTIVE DIRECTOR AND
3. CHANGE IN COMPOSITION OF BOARD COMMITTEES

The board of directors (the "Board") of China Energine International (Holdings) Limited (the "Company" together with its subsidiaries, the "Group") would like to announce the following changes regarding the Board:

RESIGNATION OF CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

Mr. Li Guang ("Mr. Li") has tender his resignation as executive director, chief executive officer ("CEO"), the member of the Remuneration Committee and member of the Development and Investment Committee of the Company due to rearrangement of his duties by China Academy of Launch Vehicle Technology ("CALT"), the controlling shareholder of the Company, with effect from 2 December 2019.

Mr. Li has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board would like to take this opportunity to express its sincere gratitude to Mr. Li for his valuable contribution to the Company during the tenure of his office.

• For identification purpose only

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APPOINTMENT OF CEO, EXECUTIVE DIRECTOR AND CHANGE IN COMPOSITION OF BOARD COMMITTEES

The Board is pleased to announce that:

1. Mr. Han Qingping, executive director of the Company, has been appointed as CEO and member of the Remuneration Committee of the Company with effect from 2 December 2019.
2. Mr. Wang Guanghui ("Mr. Wang") has been appointed as executive director, member of the Development and Investment Committee of the Company with effect from 2 December 2019.
   Mr. Wang, aged 49, master degree holder, served as head of the finance department of nineteen office of CALT from 2002 to 2009. He has been head of capital operation office and investment management office of Business and Investment Department of CALT from 2009 to 2018 and head of capital operation office of Industrial Development Department of CALT from 2018 to October 2019.
   Mr. Wang has entered into the letter of appointment with the Company and will hold office only until the first general meeting of the Company after his appointment and shall then be eligible for re-election at that meeting, and thereafter subject to retirement by rotation at least once every three years at each annual general meeting, in accordance with the memorandum and articles of association of the Company.
   Mr. Wang will be entitled to a director's fee of RMB810,000 per annum which has been recommended by the remuneration committee of the Company and determined by the Board with reference to his duties and responsibilities within the Company and the prevailing market conditions. His remuneration is subject to review by the remuneration committee of the Company and the Board from time to time.
   As at the date of this announcement, Mr. Wang has no interest in the shares of the Company which are required to be disclosed pursuant to Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

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Save as disclosed above, Mr. Wang confirmed that: (i) he does not hold any other directorships in public companies the securities of which are listed on any major stock exchanges in Hong Kong or overseas in the last three years; (ii) he does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company; (iii) there is no other matters which needs to be brought to the attention of the shareholders of the Company, and there is no other information required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange.

By order of the Board

China Energine International (Holdings) Limited

Liu Zhiwei

Chairman

Hong Kong, 2 December 2019

As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Liu Zhiwei, Mr. Han Qingping, Mr. Xu Jun and Mr. Wang Guanghui; and three independent nonexecutive Directors, namely Ms. Kan Lai Kuen, Alice, Mr. Gordon Ng and Mr. Li Dapeng.

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