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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 556) DELAY IN DESPATCH OF CIRCULAR IN RESPECT OF VERY SUBSTANTIAL ACQUISITION IN RELATION TO THE ACQUISITION OF 100% EQUITY INTEREST IN JIANGSU KANGMEI NEW MATERIALS TECHNOLOGY COMPANY LIMITED*; AND ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE

Reference is made to the announcement (the "Announcement") of Pan Asia Environmental Protection Group Limited (the "Company") dated 12 April 2017 in relation to, among others, a very substantial acquisition in relation to the acquisition of 100% equity interest in 江蘇康美新材 料科技有限公司 (Jiangsu Kangmei New Materials Technology Company Limited*). Capitalised terms used herein shall have the same meanings as those defined in the Announcement, unless the context requires otherwise.

As disclosed in the Announcement, a circular (the "Circular") containing, among other matters,

(i) further details of the Acquisition Agreement and the transactions contemplated thereunder; (ii) further information on the Specific Mandate; (iii) financial information of the Target Company; and

(iv) a notice of the EGM, is expected to be despatched to the Shareholders on or before 31 May 2017.

As (i) additional time is required to gather relevant information and prepare for the necessary disclosures to be included in the Circular, including the accountants' report of the Target Company and the pro-forma financial information of the enlarged Group; and (ii) the Company is currently undergoing business and financial due diligence exercises on the Target Company, the Company expects that the date of despatch of the Circular will be postponed to on or about 31 August 2017.

By order of the Board

Pan Asia Environmental Protection Group Limited Jiang Quanlong

Chairman

Hong Kong, 31 May 2017

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

Executive Directors: Independent non-executive Directors:

Mr. JIANG Quanlong Mr. LAI Wing Lee

Mr. JIANG Xin Mr. LEUNG Shu Sun, Sunny

Mr. CHO Yu Chung Professor WANG Guozhen

Non-executive Director:

Mr. FAN Yajun

* for identification purposes only

PAEP - Pan Asia Environmental Protection Group Ltd. published this content on 31 May 2017 and is solely responsible for the information contained herein.
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