Weiqiao Textile : Appointment of Compliance Adviser

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.

魏橋紡織股份有限公司

Weiqiao Textile Company Limited*

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

(Stock Code: 2698)

APPOINTMENT OF COMPLIANCE ADVISER

Reference is made to the news release published by The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 17 May 2019 in relation to, among other things, the censure of Weiqiao Textile Company Limited (the "Company") for breaching Rules 13.46(2)(a), 13.49(1), 13.49(3)(i)(c), 14.34, 14A.35, 14A.36, 14A.46, 14A.49, 14A.55 and 14A.56 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").

Pursuant to the directions of the Listing Committee of the Stock Exchange, the Company has appointed First Shanghai Capital Limited as the independent compliance adviser (the "Compliance Adviser") of the Company on an ongoing basis for consultation regarding compliance with the Listing Rules for a period of two years commencing on 12 July 2019 and such appointment has been approved by the Stock Exchange.

The Compliance Adviser is a corporation licensed to carry out Type 6 (advising on corporate finance) regulated activity under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

By Order of the Board

Weiqiao Textile Company Limited*

Zhang Jinglei

Executive Director and Company Secretary

Shandong, the PRC

12 July 2019

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As at the date of this announcement, the Board comprises eight directors, namely Ms. Zhang Hongxia, Ms. Zhang Yanhong, Ms. Zhao Suwen and Mr. Zhang Jinglei as executive directors, Ms. Zhao Suhua as non-executive director and Mr. George Chan Wing Yau, Mr. Chen Shuwen and Mr. Liu Yanzhao as independent non-executive directors.

• The Company is registered in Hong Kong as a non-Hong Kong company under the English name "Weiqiao Textile Company Limited" and the Chinese name of the Company under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).

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