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

(Stock code: 1103) VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE ON ROAD AND BRIDGE CONSTRUCTION BUSINESS

This announcement is made by Shanghai Tonva Petrochemical Co., Ltd. (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to inform the shareholders of the Company and potential investors about the latest development in the road and bridge construction business of the Group (the "Road & Bridge Construction Business").
The board of directors of the Company (the "Board") is pleased to announce that the Group has recently entered into a contract regarding the Xiangyanghe Giant Bridge of Yanhu Avenue Construction Project situated in Yangzhou City, Jiangsu Province with an independent third party. The total contract value of the aforesaid project worth approximately RMB160 million (equivalent to approximately HK$203 million) and is expected to be completed within 20 months.
The total contract value derived from the Road & Bridge Construction Business since January 2014 up to the date of this announcement has exceeded RMB1.8 billion (equivalent to approximately HK$2.3 billion). Most of the aforesaid contracts will be completed within 24 months from the date of signing the contracts. The turnover of the Road and Bridge Construction Business for the year ended
31 December 2013 and the six months ended 30 June 2014 was approximately RMB1,005 million (equivalent to approximately HK$1,273 million) and RMB566 million (equivalent to approximately HK$717 million), respectively. Accordingly, the Company believes that the prospect of the Road & Bridge Construction Business will continue to be one of the growth drivers for the Group.

*For identification purposes only

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The Board wishes to remind the shareholders of the Company and potential investors that the financial impact of the aforesaid contracts to the Group is subject to further analysis and it may or may not have material impact on the financial position of the Group. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.
By Order of the Board

Shanghai Tonva Petrochemical Co., Ltd. Lan Huasheng

Chairman

Shanghai, PRC, 15 January 2015

As at the date of this announcement, the Board comprises there executive directors: Mr. Lan Huasheng, Mr. Mo Luojiang and Mr. Wang Liguo; one non-executive director: Mr. Chan Cheuk Wing Andy; and three independent non-executive directors: Mr. Chung Cheuk Ming, Ms. Pan Min and Mr. Zhou Jianhao.

Unless otherwise stated, translation of RMB into HK$ is based on the approximate exchange rate of RMB1.00 to HK$1.2671 for information purpose only. Such translation should not be construed as a representation that the relevant amounts have been, could have been, or could be converted at that or any other rate or at all.

FORWARD-LOOKING STATEMENTS

Forward-looking statements in this announcement are based on current expectations, assumptions, estimates and projections about the Company and its industry. These statements are not guarantees of future performance and that the Company's actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates may differ materially from those made in, or suggested by, the forward-looking statements in this announcement. Future events and results involve some risks, uncertainties and assumptions that are difficult to predict. Important factors that could cause those differences include, but are not limited to, changes in the competitive environment and regulatory environment of the industry in the PRC relevant to the business of the Company, changes in the business and financial condition of the Company and its subsidiaries and changes in the general economic trend in the PRC.

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