China Resources and Transportation : CHANGE OF AUDITOR

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CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED

中國資源交通集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

CHANGE OF AUDITOR

This announcement is made by the board of directors (the "Board") of China Resources and Transportation Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

RESIGNATION OF AUDITOR

The Board announces that Crowe (HK) CPA Limited ("Crowe") has resigned as the auditor of the Company and its subsidiaries with effect from 29 April 2021 as Crowe and the Company could not reach a consensus on the audit fee for the financial year ended 31 March 2021.

Crowe confirmed in their letter of resignation dated 29 April 2021 that there are no matters connected with its resignation that need to be brought to the attention of the shareholders or creditors of the Company. In addition, both the Board and the audit committee of the Company have confirmed that there was no disagreement between the Company and Crowe, and there were no circumstances in respect of the change of auditor which they considered should be brought to the attention of the shareholders or creditors of the Company.

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APPOINTMENT OF AUDITOR

The Board further announces that, with the recommendation from the audit committee of the Company, McM (HK) CPA Limited has been appointed as new auditor of the Company with effect from 29 April 2021 to fill the casual vacancy following the resignation of Crowe, and to hold office until the conclusion of the next annual general meeting of the Company.

The Board would like to express its gratitude to Crowe for their valuable services and support in the past years.

By order of the Board

China Resources and Transportation Group Limited

Cao Zhong

Chairman

Hong Kong, 29 April 2021

As at the date of this announcement, the board of directors comprises six executive directors, namely Messrs Cao Zhong, Fung Tsun Pong, Gao Zhiping, Tsang Kam Ching, David, Jiang Tao and Duan Jingquan; and four independent non-executive directors, namely Messrs Jing Baoli, Bao Liang Ming, Xue Baozhong and Ms. Chan Chu Hoi.

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