China Touyun Tech : PROPOSED CHANGE OF COMPANY NAME

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 Touyun Tech Group Limited ʕ਷ீථ߅ҦණྠϞࠢʮ̡

(Incorporated in Bermuda with limited liability)

Website:www.chinatouyun.com.hk

(Stock Code: 1332)

PROPOSED CHANGE OF COMPANY NAME

The Company proposes to change the English and Chinese name of the Company from:

China Touyun Tech Group Limited 中國透雲科技集團有限公司

to:

Touyun Biotech Group Limited 透雲生物科技集團有限公司

CONDITIONS OF THE CHANGE OF NAME OF THE COMPANY

The change of name of the Company is subject to satisfaction of the following conditions:

• (i) the passing of the necessary special resolution by the Shareholders at the Special General Meeting to approve the change of name of the Company; and

• (ii) the Registrar of Companies in Bermuda approving the change of name of the Company.

Subject to the satisfaction of the conditions set out above, the change of name of the Company will take effect upon the date of the issue of a certificate of incorporation on change of name by the Registrar of Companies in the Bermuda confirming that the new name has been registered.

The Company will then carry out the necessary filing procedures with the Companies Registry in Hong Kong.

REASONS FOR THE CHANGE OF NAME OF THE COMPANY

Since 2020, the Group has continuously diversified its business segments including chlamydomonas reinhardtii, microalgae products business. The Group has explored the business opportunities in health food industry, and given the common consciousness of healthy diet and the increasing vegan or vegetarian population in recent years, the healthy food market is growing and attracting more consumer spending. Pursuant to the Company's announcement dated 6 January 2020, 21 February 2020, 14 May 2020 and 28 August 2020, the Group has substantially completed its construction of the manufacturing facilities for production of chlamydomonas reinhardtii, microalgae products in Shanxi, PRC as at the date of this announcement. Such manufacturing facilities adopt an exclusive biological fermentation technology in PRC which produce various types of biological products; and using enclosed cultivation achieving lower rate of land occupation and production cost; and also unaffected by environmental factors. The first stage of manufacturing facilities achieves 4,000 tons production capacity per year.

Given the trend in healthy food market in recent years, and according to the Company's expertise team and market research on chlamydomonas reinhardtii and microalgae products, chlamydomonas reinhardtii, is a microalgae which contains high quality of plant-based proteins, Vitamin A, Omega 3 and dietary fibre, which can be used as alternative to meat and seafood and as a major food addictives of vegan meat and seafood. In addition, chlamydomonas reinhardtii is effective for balancing blood sugar/blood pressure/blood lipids, improves heart and blood vessel health, boost immunity, and improves testinal issue and constipation. Meanwhile, chlamydomonas reinhardtii also is a platform for protein reforming.

The Group considers that the investment in chlamydomonas reinhardtii, microalgae products business is a good opportunity for the Group to diversity its income base and is in the interest of the Group and Shareholders as a whole.

The Board considered that the proposed new name of the Company is more aligned with the Group's long-term development strategy, which will be beneficial to the co-ordination and development of the Group's business, strengthen the overall branding, and create value to the Shareholders and customers of the Group.

The Directors consider that the proposed change of name of the Company is in the best interests of the Company and the Shareholders.

EFFECT OF THE CHANGE OF NAME OF THE COMPANY

The change of name of the Company will not affect any rights of the holders of securities of the Company or the Company's daily business operation and its financial position.

All existing certificates of securities in issue bearing the present name of the Company shall, upon the change of name of the Company becoming effective, continue to be evidence of title to such securities and the existing share certificates will continue to be valid for trading, settlement, registration and delivery purposes.

There will not be any arrangement for exchange of the existing certificates of securities for new share certificates bearing the new name of the Company (in both English in Chinese). Subject to the confirmation of the Stock Exchange, the English and Chinese stock short names of the Company for trading in the Shares on the Stock Exchange will also be changed after the new company name becomes effective.

Once the change of name of the Company becomes effective, new share certificates will be issued in the new name of the Company.

Further announcement(s) will be made by the Company in relation to the effective dates of the change of name of the Company and the change of the English and Chinese stock short names of the Company.

GENERAL

A circular containing further details of the change of name of the Company, together with a notice of the Special General Meeting, will be despatched to the Shareholders as soon as practicable.

DEFINITIONS

In this announcement, the following expressions have the meanings set out below unless the context requires otherwise:

''Stock Exchange''

Hong Kong, 4 March 2021

The Stock Exchange of Hong Kong Limited

By order of the Board

China Touyun Tech Group Limited

Wang Liang

Chairman

As at the date of this announcement, the Board comprised the following Directors: