Aowei : RESIGNATION OF AUDITOR

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.

AOWEI HOLDING LIMITED

奧威控股有限公司

(incorporated in the British Virgin Islands and continued in the Cayman Islands with limited liability)

(Stock Code: 1370)

RESIGNATION OF AUDITOR

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

The Board announces that KPMG have resigned as the auditor of the Company with effect from 13 May 2021. KPMG stated in their letter of resignation dated 13 May 2021 that: (i) during their course of audit of the Group's consolidated financial statements for the year ended 31 December 2020, they identified areas requiring further explanations and/or supporting documents (details of which are set out in a letter from KPMG to the Company dated 22 March 2021 and the announcement of the Company dated 29 March 2021). The Company has yet to provide the explanations and/or supporting documents, and thus KPMG is unable to further proceed with their audit work nor commit to any timetable proposed by the Company for publication of its annual results. The said identified areas remained outstanding as at the date of resignation of KPMG; and

1. in the announcement of the Company dated 30 April 2021, KPMG was named and referred to in its content. However, KPMG were not provided with a draft of the said announcement before such announcement was issued nor did KPMG give any consent to the Company to include their name in the announcement. There are no other matters, up to the date of KPMG's resignation letter, that need to be brought to the attention of the shareholders of the Company in connection with the resignation of KPMG as the auditor of the Company.

The Board and the audit committee of the Company (the "Audit Committee") confirmed that, save as disclosed above, there are no other matters in connection with the resignation of KPMG that need to be brought to the attention of the shareholders of the Company.

The Board would like to express its appreciation to KPMG for their services rendered to the Company in the past.

The Board is in the process of identifying a new auditor to fill the casual vacancy following the resignation of KPMG. Further announcement in relation to the appointment of the Company's new auditor will be made by the Company as and when appropriate in accordance with the Listing Rules.

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CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 9:00 a.m. on 29 March 2021 and will remain suspended until further notice.

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

By order of the Board

Aowei Holding Limited

Mr. Li Yanjun

Chairman

Beijing, the People's Republic of China, 13 May 2021

As at the date of this announcement, the executive directors are Mr. Li Yanjun, Mr. Li Ziwei, Mr. Sun Jianhua and Mr. Tu Quanping, and the independent non-executive directors are Mr. Wong Sze Lok, Mr. Ge Xinjian, and Mr. Meng Likun.

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