China Resources and Transportation : INSIDE INFORMATION - FURTHER PARTICULARS OF WINDING-UP PETITION

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.

CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED

中國資源交通集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

INSIDE INFORMATION

FURTHER PARTICULARS OF

WINDING-UP PETITION

This announcement is issued by China Resources and Transportation Group Limited (the "Company") pursuant to the requirements of Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 16 April 2021 and capitalized terms used in this announcement shall take the same meanings as defined therein.

EFFECT OF THE WINDING-UP PETITION AND APPOINTMENT OF

PROVISIONAL LIQUIDATORS

The Company is an exempted company incorporated under the Companies Act of the Cayman

Islands.

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The Company has been advised by its Cayman Islands counsel that if a winding-up order is made, (i) any transfer of the Company's shares or alternation in the status of the Company's members and (ii) any disposition of the Company's property (including dividend payments) after the date of presentation of the Petition (23 March 2021) will be void as a matter of Cayman Islands law unless the Cayman Court otherwise orders.

Shareholders of the Company and potential investors should note that for so long as the Petition is still outstanding, transfer of legal title in the Company's shares may also be restricted to the extent Hong Kong Securities Clearing Company Limited ("HKSCC") exercises its power, at any time, and without notice, to temporarily suspend any of its services in respect of the Company's shares, including the suspension of acceptance of deposits of share certificates of the Company into the Central Clearing and Settlement System ("CCASS").

The Company has been advised by its Cayman Islands counsel that, even if a winding up order is ultimately made, only the transfer of legal title in the Company's shares after the commencement of the Petition will be void (unless sanctioned by the Cayman Court). The transfer of beneficial interests in the Company's shares among the shareholders within CCASS will not be affected by the Petition. Any suspension of service by HKSCC will also only affect the transfer of legal title in the Company's shares. The transfer of beneficial interests in the Company's shares among the shareholders within CCASS will not be affected.

The Company will continue to review whether there is a need to apply for a validation order from the Cayman Court.

The Company has been advised by its Cayman Islands counsel that upon the appointment of provisional liquidators all of the powers of the directors will cease, save to contest the Petition and except so far as the provisional liquidators sanction their continuance, and that the provisional liquidators will thereafter control the Company's affairs in their place, subject to the Court's supervision.

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POSITION ON THE PETITION

The Company is considering its response to the Petition with its Cayman Islands counsel.

UPDATE ON 2021 AUDIT

As at the date of this announcement, the Company is in discussion with the external auditors in relation to the audit fee, timing of audit and scope of work on the Company's annual results for the year ended 31 March 2021.

The Company does not expect that the Petition will give rise to any audit qualification or delay in publication the annual results for the year ended 31 March 2021.

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

By Order of the Board

China Resources and Transportation Group Limited

Cao Zhong

Chairman

Hong Kong, 21 April 2021

As at the date of this announcement, the board of directors comprises six executive directors, namely Messrs Cao Zhong, Fung Tsun Pong, Gao Zhiping, Tsang Kam Ching, David, Jiang Tao and Duan Jingquan; and four independent non-executive directors, namely Messrs Jing Baoli, Bao Liang Ming, Xue Baozhong and Ms. Chan Chu Hoi.

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