CT Environmental : QUARTERLY UPDATE ANNOUNCEMENT

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CT ENVIRONMENTAL GROUP LIMITED 中滔環保集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1363)

QUARTERLY UPDATE ANNOUNCEMENT

This announcement is made by the board of directors (the "Board" or the "Directors") of CT Environmental Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rules 13.09(2)(a) and 13.24A of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference is made to (i) the announcements of the Company dated 29 March 2019, 1 April 2019, 25 April 2019, 25 June 2019 and 13 November 2019 (the "Prior Announcements") in relation to, among other things, the suspension of trading in the shares of the Company ("Shares") on the Stock Exchange pending the publication of the annual results of the Company and its subsidiaries for the year ended 31 December 2018 (the "Annual Results"), the reasons for such delay in publication and the resumption guidance issued by the Stock Exchange ("Resumption Guidance"); (ii) the quarterly update announcements dated 28 June 2019, 2 October 2019, 31 December 2019, 1 April 2020, 30 June 2020, 30 September 2020 and 30 December 2020 (the "Previous Quarterly Update Announcements"), and (iii) the announcements dated 27 June 2019 and 13 May 2020 in relation to certain legal proceedings against a number of subsidiaries of the Group (the "Legal Update Announcements"). Unless otherwise stated, capitalised term used in this announcement shall have the same meaning as those defined in the above relevant announcements.

PROGRESS OF FULFILLMENT OF RESUMPTION GUIDANCE

As previously announced in the quarterly update announcement dated 30 December 2020, the Board is of the view that the Company has already taken steps which it believes to have fulfilled all Resumption Guidance. Since then, the Company has received follow-up queries from the Stock Exchange and the Board has made submissions to the Stock Exchange in response. The Company will continue to work towards the goal of resumption of trading in the Shares on the Stock Exchange.

Resumption of trading in the Shares on the Stock Exchange is subject to the satisfaction of the Company's fulfillment of the Resumption Guidance by the Stock Exchange.

DISPOSAL OF WASTEWATER TREATMENT PLANT

On 25 February 2021, Guangzhou Yinglong Wastewater Treatment Limited* （廣州盈隆污水 處理有限公司） , a subsidiary of the Company, entered into the asset transfer agreement for the transfer of the Yinglong Wastewater Treatment Plant*（廣州市增城區新塘鎮盈隆污水處 理廠）("Target Asset") held by it to the governmental authority of Xintang Town, Zengcheng District, Guangzhou City* （廣州市增城區新塘鎮人民政府） for a cash consideration of RMB259,846,200 (equivalent to approximately HK$312,300,000). Details of the disposal of the Target Asset can be found in the announcement of the Company dated 2 March 2021.

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

As disclosed in the Company's announcement dated 30 March 2021, the Board wishes to inform the shareholders of the Company that it is unable to publish its financial results announcement for the financial year ended 31 December 2020 ("2020 Annual Results") and despatch of the annual report for the year ended 31 December 2020 (the "2020 Annual Report") by 31 March 2021 and 30 April 2021 respectively as additional time is required in order to complete the audit work in respect of the 2020 Annual Results. The delay in publication of the 2020 Annual Results and despatch of the 2020 Annual Report constitute non-compliance of Rules 13.49(1) and 13.46(2)(a) of the Listing Rules respectively. The Company will use its best endeavours to ensure that the 2020 Annual Results will be published as soon as practicable.

BUSINESS OPERATIONS

The Group is a professional environmental plan and solution provider, which offers one- stop centralized and customized environmental protection services. The Group is engaged in services in the whole chain, inclusive of industrial wastewater treatment, industrial water supply, general and industrial solid waste treatment and hazardous waste disposal and treatment, urban and domestic waste detoxification, and environmental inspection. The Group had continued its normal business operations since the suspension of the trading of the Shares.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the Shares on the Stock Exchange has been suspended with effect from 9:00 a.m. on 1 April 2019. Trading in the Shares will remain suspended until further notice.

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

By Order of the Board

CT Environmental Group Limited

Lam Wai Tong

Acting Chairman and Executive Director

Hong Kong, 30 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Lam Wai Tong (Acting Chairman), Mr. Man Wai Lun and Mr. Wu Changbiao, the non-executive director of the Company is Ms. Huang Qing and the independent non-executive directors of the Company are Mr. He Jingyong, Mr. Fong Wai Ho, Ms. Lai Pik Chi Peggy and Mr. Chung Yuk Lun.

*For identification purposes