Pan Asia Env Protection : (1) RESIGNATION OF EXECUTIVE DIRECTOR; (2) CHANGE OF CHAIRMAN; (3) CHANGE IN COMPOSITION OF THE BOARD COMMITTEES; AND (4) CHANGE OF AUTHORISED REPRESENTATIVE

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 the Cayman Islands with limited liability)

1. RESIGNATION OF EXECUTIVE DIRECTOR;
2. CHANGE OF CHAIRMAN;
3. CHANGE IN COMPOSITION OF THE BOARD COMMITTEES; AND
4. CHANGE OF AUTHORISED REPRESENTATIVE

The Board announces that:

Mr. Jiang Quanlong has resigned as an executive Director and the chairman of the Company with effect from 15 September 2017.

Mr. Jiang Quanlong will cease to act as the chairman of the Company and Mr. Jiang Xin, an executive Director, has been appointed as the chairman of the Company with effect from 15 September 2017.

With effect from 15 September 2017, the composition of the Board committees will be changed as follows:

1. Nomination Committee

   Mr. Jiang Quanlong has resigned as member of the Nomination Committee and Mr. Jiang Xin has been appointed as member of the Nomination Committee.

2. Remuneration Committee

Mr. Jiang Quanlong has resigned as member of the Remuneration Committee and Mr. Jiang Xin has been appointed as member of the Remuneration Committee.

The Board announces that with effect from 15 September 2017, Mr. Jiang Quanlong will cease to be the authorised representative under Rule 3.05 of the Listing Rules and Mr. Jiang Xin has been appointed as the authorised representative of the Company under Rule 3.05 of the Listing Rules together with Mr. Wan San Fai, Vincent.

The Board announces that with effect from 15 September 2017, Mr. Jiang Quanlong has resigned as an executive director (the "Director") and the chairman of Pan Asia Environmental Protection Group Limited (the "Company").

The resignation of Mr. Jiang Quanlong was due to his intention to devote more time to personal commitment and other business, and he has confirmed that he has no disagreement with the board of Directors (the "Board"), and there are no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its gratitude to Mr. Jiang Quanlong for his contribution to the Company during his term of service.

Mr. Jiang Quanlong will cease to act as the chairman and Mr. Jiang Xin, an executive Director, has been appointed as the chairman of the Company with effect from 15 September 2017.

Code provision A.2.1 of the Corporate Governance Code (the "CG Code") as set out in appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") provides that the roles of chairman and chief executive officer should be separate and should not be performed by the same individual.

Upon appointment of Mr. Jiang Xin as chairman of the Company, he assumes both the roles as the chairman and the chief executive officer of the Company in deviation from the aforesaid code provision. It is because the Board does not have sufficient time to look for a suitable candidate for the position of chairman due to Mr. Jiang Quanlong's sudden resignation. The Board believes that Mr. Jiang Xin has the requisite experience and knowledge and that vesting in both roles would maintain efficient business operation which is in the best interest of the Group at this moment in time.

The Company will, however, seek to re-comply with code provision A.2.1 by identifying and appointing a suitable and qualified candidate to the position of chairman in due course. Further announcement(s) will be made by the Company in accordance with applicable requirements of the Listing Rules as and when appropriate.

With effect from 15 September 2017, the composition of the Board committees will be changed as follows:

1. Nomination Committee

   Mr. Jiang Quanlong has resigned as member of the nomination committee of the Company (the "Nomination Committee") and Mr. Jiang Xin has been appointed as member of the Nomination Committee.

2. Remuneration Committee

Mr. Jiang Quanlong has resigned as member of the remuneration committee of the Company (the "Remuneration Committee") and Mr. Jiang Xin has been appointed as member of the Remuneration Committee.

The Board announces that with effect from 15 September 2017, Mr. Jiang Quanlong will cease to be the authorised representative under Rule 3.05 of the Listing Rules and Mr. Jiang Xin has been appointed as the authorised representative of the Company under Rule 3.05 of the Listing Rules together with Mr. Wan San Fai, Vincent.

By Order of the Board

Company Secretary

Hong Kong, 14 September 2017

As at the date of this announcement, the directors of the Company are:

Executive Directors: Mr. JIANG Quanlong Mr. JIANG Xin

Mr. CHO Yu Chung

Non-Executive Director:

Mr. FAN Yajun

Independent Non-Executive Directors:

Mr. LAI Wing Lee

Mr. LEUNG Shu Sun, Sunny Professor WANG Guozhen