Freetech Road Recycling Technology : CHANGE OF AUDITORS

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.

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 6888)

CHANGE OF AUDITORS

This announcement is made by the board of directors (the "Board") of Freetech Road Recycling Technology (Holdings) Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board hereby announces that Messrs. Deloitte Touche Tohmatsu ("Deloitte") has resigned as the auditor of the Company with effect from 2 January 2020 as Deloitte and the Company could not reach an agreement on the audit fee for the financial year ended 31 December 2019.

Deloitte has confirmed in writing that there were no circumstances connected with their resignation which they considered should be brought to the attention of the shareholders of the Company. The Board confirms that there is no disagreement between the Company and Deloitte and is not aware of any other matters in relation to the change of the auditors that need to be brought to the attention of the shareholders of the Company.

The Board, with the recommendation of the audit committee of the Company, further announces that BDO Limited ("BDO") has been appointed as the auditors of the Company with effect from 3 January 2020 to fill the vacancy following the resignation of Deloitte. BDO shall hold office until the conclusion of the next annual general meeting of the Company.

The Board would like to take this opportunity to express its gratitude to Deloitte for their professional services and support in the past.

By order of the Board

Freetech Road Recycling Technology

(Holdings) Limited

Sze Wai Pan

Chairman

Hong Kong, 3 January 2020

As at the date of this announcement, the executive Directors are Mr. Sze Wai Pan, Ms. Sze Wan Nga, and Mr. Chan Kai King; the non-executive Directors are Prof. Tong Wai Cheung Timothy, Dr. Chan Yan Chong and Mr. Wang Lei; and the independent non-executive Directors are Ms. Yeung Sum, Mr. Tang Koon Yiu Thomas and Dr. Lau Ching Kwong.

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