Zhejiang Tengy Environmental Technology : VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE

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浙江天潔環境科技股份有限公司

Zhejiang Tengy Environmental Technology Co., Ltd

(a joint stock company established in the People's Republic of China with limited liability)

(Stock Code: 1527)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE

This is a voluntary announcement made by Zhejiang Tengy Environmental Technology Co., Ltd (the "Company", together with its subsidiaries, the "Group") to keep the shareholders and potential investors of the Company informed of the latest business development of the Group.

The board of directors (the "Board") of the Company wishes to inform the shareholders and potential investors of the Company that the Company has succeeded in the bidding of a tender in relation to a project of construction of low temperature electrostatic precipitator for power plant (the "Project") with a contract sum in the total amount of RMB70,149,750 and entered into the formal contract with a third party independent of and not connected with the Company and its connected person (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) in relation to the Project in October 2019.

The Board is of the view that the Project will contribute positively to the revenue and profit of the Group.

By order of the Board

Zhejiang Tengy Environmental Technology Co., Ltd

Mr. BIAN Yu

Chairman and executive Director

Zhuji City, Zhejiang Province, the PRC 1 November 2019

As at the date of this announcement, the executive directors of the Company are Mr. BIAN Yu, Mr. BIAN Weican and Ms. BIAN Shu; the non-executive directors of the Company are Mr. BIAN Jianguang, Mr. CHEN Jiancheng and Mr. ZHU Xian Bo; and the independent non- executive directors of the Company are Mr. ZHANG Bing, Mr. FUNG Kui Kei and Mr. LI Jiannan.