Chengdu PUTIAN Telecommunications Cable : FURTHER SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE PROPOSED MANDATE IN RELATION TO THE MAJOR AND CONNECTED TRANSACTION IN RESPECT OF THE POTENTIAL DISPOSAL

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CHENGDU PUTIAN TELECOMMUNICATIONS CABLE COMPANY LIMITED

(a sino-foreign joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 1202)

FURTHER SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO

THE PROPOSED MANDATE IN RELATION TO THE MAJOR

AND CONNECTED TRANSACTION IN RESPECT OF

THE POTENTIAL DISPOSAL

Reference is made to the announcements of Chengdu PUTIAN Telecommunications Cable Company Limited (the "Company") dated 24 July 2020 (the "Announcement") and dated 14 August 2020 (the "Supplemental Announcement") in relation to the Proposed Mandate in relation to the major and connected transaction in respect of the Potential Disposal. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

FURTHER SUPPLEMENTAL ANNOUNCEMENT

The Company wish to provide further supplemental information on the minimum consideration for the Potential Disposal and the value of the shareholders' equity interest in Putian Fasten as at 31 October 2019. As disclosed in the Supplemental Announcement, the minimum consideration, being the initial bidding price for the Potential Disposal, was revised to approximately RMB67,519,684.79, which was determined based on the equity attributable to the owner of Putian Fasten as appraised by the Independent Third Party Appraisal Agency on 8 August 2020, with 31 October 2019 as the valuation benchmark date, amounted to RMB540,188,918.34. Based on the minimum consideration, the gross proceeds from the Potential Disposal are expected to be RMB67,519,684.79.

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Pursuant to a further update from the Independent Third Party Appraisal Agency, the equity attributable to the owner of Putian Fasten was further revised to approximately RMB540,915,674.01. The minimum consideration for the Potential Disposal will therefore be approximately RMB67,614,459.25, subject to the approval in relation to the appraised value of Putian Fasten from the State-owned Assets Supervision and Administration Commission. Based on the minimum consideration, the gross proceeds from the Potential Disposal are expected to the approximately RMB67,614,459.25.

By the order of the Board

Chengdu PUTIAN Telecommunications Cable Company Limited

Wu Changlin

Chairman

Chengdu, the PRC, 22 September 2020

As at the date of this announcement, the Board comprises:

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