Northeast Electric Development : Announcement on Resignation of A Shareholder Representative Supervisor

The 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.

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

（Stock Code:0042）

Announcement on Resignation of A Shareholder

Representative Supervisor

This announcement is made pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Supervisory Committee of the Northeast Electric Development Co., Ltd. (the "Company") has recently received the resignation application from Ms. Liu Lu ("Ms. Liu"), she is shareholder representative supervisor. Due to the work adjustment, Ms. Liu applied for resignation as shareholder representative supervisor of the Supervisory Committee of the Company. After resignation, Ms. Liu will cease to hold any positions in the Company.

Ms. Liu has confirmed to the Company that she has no disagreement with the Board and the Supervisory Committee, and there is no matter relating to her resignation that needs to be brought to the attention of the holders of the securities of the Company.

Given that the departure of Ms. Liu will result in the number of members of the Supervisory Committee of the Company falling below the minimum quorum, her resignation report of supervisor will become effective upon election of new supervisor of the Company. The Company will elect supervisor as soon as possible in accordance with the relevant provisions of the Company Law of the People's Republic of China (the "Company Law"), the Articles of Association of the Company (the "Articles of Association") and Listing Rules. Prior to the election of new supervisor, Ms. Liu shall continue performing her duties as supervisor.

As of the date of this announcement, Ms. Liu has not held any shares of the Company, and she is no commitments that should has been fulfilled.

The Company, the Board and the Supervisory Committee hereby extend sincere thanks to Ms. Liu for her valuable contributions to the Company during her terms of office.

By order of the Board

Zhu Jie

Chairman

Haikou, Hainan Province, the PRC

7 May 2021

As at the date of this Announcement, the Board comprises of six executive Directors, namely Mr. Zhu Jie, Mr. Wang Yongfan, Mr. Bao Zongbao, Mr. Su Weiguo, Mr. Guo Qianli and Mr. Li Guoqing; and three independent non-executive Directors, namely Mr. Li Ming, Mr. Fang Guangrong and Mr. Wang Hongyu.