China Resources and Transportation : (I) UPDATE ON FURTHER DELAY IN PUBLICATION OF AUDITED ANNUAL RESULTS ANNOUNCEMENT AND ANNUAL REPORT AND (II) POSTPONEMENT OF BOARD MEETING

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CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED

中國資源交通集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

1. UPDATE ON FURTHER DELAY IN PUBLICATION OF AUDITED ANNUAL RESULTS ANNOUNCEMENT AND ANNUAL REPORT; AND
2. 1. POSTPONEMENT OF BOARD MEETING

References are made to the announcements of China Resources and Transportation Group Limited (the "Company", together with its subsidiaries, the "Group") (i) dated 30 June 2020 in relation to, among other things, the unaudited annual results for the year ended 31 March 2020 (the "Unaudited Results Announcement"), (ii) dated 5 August 2020 and 13 August 2020 in relation to, among other things, the further delay in publication of audited annual results announcement and annual report (the "Further Delay Announcements"), (iii) dated 19 August 2020 in relation to the date of board meeting, and (iv) dated 21 August 2020 in relation to the postponement of annual general meeting (together, the "Announcements"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

1. UPDATE ON FURTHER DELAY IN PUBLICATION OF AUDITED ANNUAL RESULTS ANNOUNCEMENT AND ANNUAL REPORT

As disclosed in the Further Delay Announcements, based on the latest development of the COVID-19 epidemic and the discussion with the Company's auditor, additional time is required for the completion of the auditing process of the 2020 Annual Results, and the 2020 Annual Report is expected to be despatched to the Shareholders on or before 7 September 2020.

The Board wishes to update the Shareholders and the potential investors of the Company that, based on the latest development of the COVID-19 epidemic and the current progress of the audit work, additional time is required for completion of the auditing process of the 2020 Annual Results. Based on the recent discussion with the Company's auditor, the Board currently expects that, barring unforeseen circumstances, the further announcement in relation to the audited 2020 Annual Results as agreed by the Company's auditor and the material differences (if any) as compared with the unaudited annual results in the Unaudited Results Announcement will be published on or before 14 September 2020 and the 2020 Annual Report will be despatched to the Shareholders by no later than 21 September 2020.

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Application will be made to the Stock Exchange for a waiver from strict compliance with Rule 13.46(2)(a) of the Listing Rules to extend the date by which the Company is required to despatch the 2020 Annual Report to Shareholders to on or before 21 September 2020.

1. POSTPONEMENT OF BOARD MEETING

The Board hereby announces that the board meeting of the Company originally scheduled to be held on Monday, 31 August 2020 will be postponed to a date falling on or before 14 September 2020 for the purpose of approving, inter alia, the audited annual results of the Company and its subsidiaries for the year ended 31 March 2020 and transacting any other business. The Company will make further announcement once the date of board meeting has been fixed.

The Company will keep the Shareholders and potential investors of the Company informed of the latest progress of the annual audit and make further announcement(s) as and when necessary.

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

By Order of the Board

China Resources and Transportation Group Limited

Cao Zhong

Chairman

Hong Kong, 27 August 2020

As at the date of this announcement, the board of directors comprises six executive directors, namely Messrs Cao Zhong, Fung Tsun Pong, Gao Zhiping, Tsang Kam Ching, David, Jiang Tao and Duan Jingquan; and four independent non-executive directors, namely Messrs Jing Baoli, Bao Liang Ming, Xue Baozhong and Ms. Chan Chu Hoi.

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