Beijing Gas Blue Sky : DELAY IN PUBLICATION OF THE 2020 ANNUAL RESULTS ANNOUNCEMENT AND DELAY IN DESPATCH OF THE 2020 ANNUAL REPORT

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 Bermuda with limited liability)

(Stock Code: 6828)

DELAY IN PUBLICATION OF

THE 2020 ANNUAL RESULTS ANNOUNCEMENT

AND

DELAY IN DESPATCH OF THE 2020 ANNUAL REPORT

References are made to the announcements of Beijing Gas Blue Sky Holdings Limited (the "Company", together with its subsidiaries, the "Group") dated 17 January 2021, 19 January 2021, 26 January 2021 and 26 February 2021 respectively in relation to the Incident and the change in auditors of the Company. Terms used herein shall have the same meanings as defined in the abovementioned announcements unless otherwise stated.

DELAY IN PUBLICATION OF THE 2020 ANNUAL RESULTS ANNOUNCEMENT AND DELAY IN DESPATECH OF THE 2020 ANNUAL REPORT

Pursuant to Rules 13.49(1) and 13.46 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the Company is required to publish the annual results of the Group for the financial year ended 31 December 2020 (the "2020 Annual Results") on or before 31 March 2021, and to despatch the annual report for the financial year ended 31 December 2020 (the "2020 Annual Report") to the Shareholders on or before 30 April 2021.

As disclosed in the Company's announcement dated 1 February 2021, the Special Committee has been established to investigate into the Incident and such investigation is underway. After due and careful consideration, the Company considers that the unaudited accounts of the Group for the year ended 31 December 2020 (the "Management Accounts") may require further adjustments according to the finding of the investigation, and hence, it would not be appropriate to publish the Management Accounts at this stage.

Having considered the reason above and that the new auditors of the Company, Ernst & Young ("EY"), was only appointed in late February 2021, the Company expects additional time would be required for the Company to complete the Management Accounts for the year ended 31 December 2020, and for EY to carry out the related audit works.

It is expected that the publication of the 2020 Annual Results will be postponed to the end of June 2021. Accordingly, the despatch of the 2020 Annual Report will also be delayed.

The Board acknowledges that the delay in publication of the 2020 Annual Results and delay in despatch of the 2020 Annual Report will constitute non-compliance of Rule 13.49(1) and Rule 13.46 of the Listing Rules respectively.

Further announcement(s) will be made by the Company to inform the shareholders and potential investors of the Company any material development in connection with the 2020 Annual Results and the 2020 Annual Report as and when appropriate.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended with effect from 9:00 a.m. on 18 January 2021 and will remain suspended until the Company fulfills the resumption guidance provided by the Stock Exchange on 24 February 2021.

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

Beijing Gas Blue Sky Holdings Limited

Zhi Xiaoye

Chairman

Hong Kong, 23 March 2021

As at the date of this announcement, the executive Directors of the Company are Mr. Li Weiqi, Mr. Jin Qiang, Ms. Yang Fuyan and Mr. Ye Hongjun; the non-executive Directors of the Company are Mr. Zhi Xiaoye and Mr. Cheng Ming Kit (duties suspended); and the independent non-executive Directors of the Company are Mr. Lim Siang Kai, Mr. Wee Piew, Mr. Ma Arthur On-hing, Mr. Cui Yulei and Ms. Hsu Wai Man Helen.