Petro king Oilfield Services : PROPOSALS FOR GENERAL MANDATES TO REPURCHASE SHARES AND TO ISSUE NEW SHARES, RE-ELECTION OF DIRECTORS AND NOTICE OF ANNUAL GENERAL MEETING

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser.

If you have sold or transferred all your shares in Petro-king Oilfield Services Limited, you should at once hand this circular and the accompanying form of proxy to the purchaser or to the transferee or to the bank, stockbroker or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, 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 circular.

PETRO-KING OILFIELD SERVICES LIMITED

百勤油田服務有限公司

(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 2178)

PROPOSALS FOR GENERAL MANDATES

TO REPURCHASE SHARES AND TO ISSUE NEW SHARES,

RE-ELECTION OF DIRECTORS

AND

NOTICE OF ANNUAL GENERAL MEETING

A notice convening the annual general meeting (the "AGM") of Petro-king Oilfield Services Limited (the "Company") to be held at 17th Floor, Tower 2, Silvercord, 30 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong on Friday, 18 June 2021 at 2:30 p.m., is set out on pages 19 to 23 of this circular. A form of proxy for use at the AGM is enclosed with this circular.

Whether or not you are able to attend the AGM, please complete and sign the accompanying form of proxy in accordance with the instructions printed thereon and return it to the Company's Branch Share Registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong as soon as possible but in any event not later than 48 hours before the time appointed for the holding of the AGM or any adjournment thereof. Completion and delivery of the form of proxy will not preclude you from attending and voting in person at the AGM or any adjournment thereof should you so wish.

30 April 2021

		CONTENTS
			Pages
Definitions . . .	. . . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	1
Letter from the Board	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
Appendix I	-	Explanatory Statement on the Repurchase Mandate . . . . .	8
Appendix II	-	Details of the Retiring Directors Proposed
		to be Re-electedat the AGM . . . . . . . . . . . . . . . . . . . . . .	16
Notice of AGM	. . . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	20

- i -

DEFINITIONS

In this circular, unless the context otherwise requires, the following expressions shall have

the following meanings:

"AGM"	the annual general meeting of the Company to be held
	at 17th Floor, Tower 2, Silvercord, 30 Canton Road,
	Tsim Sha Tsui, Kowloon, Hong Kong on Friday, 18
	June 2021 at 2:30 p.m., to consider and, if appropriate,
	to approve the resolutions contained in the notice of
	the meeting which is set out on pages 19 to 23 of this
	circular, or any adjournment thereof;
"Articles of Association"	the second amended and restated articles of
	association of the Company as amended from time to
	time;
"Board"	the board of Directors;
"BVI"	the British Virgin Islands;
"close associate(s)"	has the same meaning ascribed thereto in the Listing
	Rules;
"Company"	Petro-king Oilfield Services Limited (百勤油田服務有
	限公司), a company incorporated in the BVI with
	limited liability and whose Shares are listed on the
	Stock Exchange;
"core connected person(s)"	has the same meaning ascribed thereto in the Listing
	Rules;
"Director(s)"	the director(s) of the Company;
"Group"	the Company and its subsidiaries;
"HK$"	Hong Kong dollars, the lawful currency of Hong
	Kong;
"Hong Kong"	the Hong Kong Special Administrative Region of the
	PRC;
"Issuance Mandate"	as defined in paragraph 2(b) of the Letter from the
	Board;

- 1 -

	DEFINITIONS
"Latest Practicable Date"	23 April 2021, being the latest practicable date prior to
	the printing of this circular for ascertaining certain
	information contained in this circular prior to its
	publication;
"Listing Rules"	the Rules Governing the Listing of Securities on the
	Stock Exchange;
"PRC"	the People's Republic of China;
"Repurchase Mandate"	as defined in paragraph 2(a) of the Letter from the
	Board;
"RMB"	Renminbi, the lawful currency of the PRC;
"SFO"	the Securities and Futures Ordinance (Chapter 571 of
	the Laws of Hong Kong);
"Share(s)"	ordinary share(s) with no par value of the Company;
"Shareholder(s)"	the holder(s) of the Share(s);
"Stock Exchange"	The Stock Exchange of Hong Kong Limited;
"Takeovers Code"	The Codes on Takeovers and Mergers and Share Buy-
	backs; and
"%"	per cent.

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LETTER FROM THE BOARD

PETRO-KING OILFIELD SERVICES LIMITED

百勤油田服務有限公司

(Incorporated in the British Virgin Islands with limited liability)
	(Stock Code: 2178)
Executive Directors:	Registered Office:
Mr. Wang Jinlong	Commerce House
Mr. Zhao Jindong	Wickhams Cay 1
Mr. Huang Yu	P.O. Box 3140
	Road Town, Tortola
Non-executive Director:	British Virgin Islands
Mr. Wong Shiu Kee	VG1110
Independent non-executive Directors:	Principal Place of Business
Mr. Leung Lin Cheong	in Hong Kong:
Mr. Tong Hin Wor	Suite 1603A, 16/F,
Mr. Xin Junhe	Tower 1, Silvercord

30 Canton Road

Kowloon, Hong Kong

30 April 2021

To the Shareholders

Dear Sir or Madam,

PROPOSALS FOR GENERAL MANDATES

TO REPURCHASE SHARES AND TO ISSUE NEW SHARES,

RE-ELECTION OF DIRECTORS

AND

NOTICE OF ANNUAL GENERAL MEETING

1. INTRODUCTION

The purpose of this circular is to provide you with information in respect of the resolutions to be proposed at the AGM for (i) the grant of the Repurchase Mandate to the Directors; (ii) the grant of the Issuance Mandate to the Directors; (iii) the extension of the Issuance Mandate by adding to it the total number of the issued Shares repurchased by the Company under the Repurchase Mandate; and (iv) the re-election of Directors.

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LETTER FROM THE BOARD

2. PROPOSED GRANT OF THE REPURCHASE AND ISSUANCE MANDATES

At the AGM, ordinary resolutions will be proposed to approve the grant of new general mandates to the Directors:

1. to repurchase Shares on the Stock Exchange of an aggregate number not exceeding 10% of the total number of the issued Shares as at the date of passing such resolution (i.e. an aggregate number not exceeding 172,667,468 Shares) on the basis that the total number of the issued Shares remains unchanged as at the date of the AGM;
2. to allot, issue or deal with Shares of an aggregate number not exceeding 20% of the total number of the issued Shares as at the date of passing such resolution (i.e. an aggregate number not exceeding 345,334,936 Shares) on the basis that the total number of the issued Shares remains unchanged as at the date of the AGM; and
3. to extend the Issuance Mandate by an amount representing the aggregate number of Shares repurchased by the Company pursuant to and in accordance with the Repurchase Mandate.

The Repurchase Mandate and the Issuance Mandate will continue in force until (i) the conclusion of the next annual general meeting of the Company; (ii) the expiration of the period within which the next annual general meeting of the Company is to be held as required by the Articles of Association or any applicable laws; or (iii) the date on which the Repurchase Mandate is revoked or varied by an ordinary resolution of the Shareholders in general meeting of the Company, whichever occurs first. With reference to the Repurchase Mandate and the Issuance Mandate, the Directors wish to state that they have no immediate plan to repurchase or issue any Shares pursuant thereto.

In accordance with the requirements of the Listing Rules, an explanatory statement is set out in Appendix I to this circular containing all the information reasonably necessary to enable you to make an informed decision on whether to vote for or against the grant of the Repurchase Mandate.

3. PROPOSED RE-ELECTION OF DIRECTORS

Pursuant to Article 75 of the Articles of Association, at each annual general meeting of the Company, one-third of the Directors for the time being (or, if their number is not a multiple of three, the number nearest to but not less than one-third) shall retire from office by rotation provided that every Director shall be subject to retirement at an annual general meeting at least once every three years. The Directors to retire by rotation shall include (so far as necessary to ascertain the number of Directors to retire by rotation) any Director who wishes to retire and not to offer himself for re-election. Any further Directors so to retire shall be those of the other Directors subject to retirement by rotation who have been longest in office since their last re-election or appointment and so that as between persons who became or were last re-elected Directors on the same day those to retire shall (unless

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LETTER FROM THE BOARD

they otherwise agree among themselves) be determined by lot. A retiring Director shall be eligible for re-election at the relevant general meeting. Accordingly, Mr. Wang Jinlong, Mr. Zhao Jindong and Mr. Tong Hin Wor shall retire by rotation at the AGM, and being eligible, will offer themselves for re-election.

For the proposed re-election of Mr. Tong Hin Wor as an independent non-executive Director, the Board and the nomination committee of the Company have considered the board diversity policy and corporate strategy of the Company, taking into account the skills and experience required for the overall operation of the Board, the background and other factors of Mr. Tong Hin Wor. The Board and the nomination committee are of the view that, Mr. Tong Hin Wor has the basic knowledge of the operation of a listed company with valuable business experience, knowledge, professionalism and work experience necessary to perform the duties of an independent non-executive Director, and have the ability to provide independent, fair and objective opinions on corporate affairs. Mr. Tong Hin Wor will also promote diversity of the Board in a number of aspects, including age, cultural and educational background, professional experience, skills and knowledge. Mr. Tong Hin Wor has confirmed his independence to the Company in accordance with Rule

3.13 of the Listing Rules. The Board has assessed and reviewed his independence and believes that he has satisfied the independence requirements. Therefore, his re-election as an independent non-executive Director is in the best interests of the Company and the Shareholders as a whole.

Pursuant to Article 74(3) of the Articles of Association, any Director appointed by the Board to fill a casual vacancy shall hold office until the first general meeting of the Company after his appointment and be subject to re-election at such meeting and any Director appointed by the Board as an addition to the existing Board shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election.

On 21 April 2021, Mr. Huang Yu was appointed as an executive Director and Mr. Wong Shiu Kee was appointed as a non-executive Director to fill the casual vacancies on the Board resulted from the resignations of Mr. Lee Tommy and Ms. Ma Hua from the positions of non-executive Director. Accordingly, Mr. Huang Yu and Mr. Wong Shiu Kee shall retire from office and shall be eligible for re-election at the AGM.

Pursuant to Rule 13.74 of the Listing Rules, a listed issuer shall disclose the details required under Rule 13.51(2) of the Listing Rules of any directors proposed to be re-elected or proposed new director in the notice or accompanying circular to its shareholders of the relevant general meeting, if such re-election or appointment is subject to shareholders' approval at that relevant general meeting. The requisite details of Mr. Wang Jinlong, Mr. Zhao Jindong, Mr. Tong Hin Wor, Mr. Huang Yu and Mr. Wong Shiu Kee, being the retiring Directors proposed to be re-elected are set out in Appendix II to this circular.

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LETTER FROM THE BOARD

4. RE-APPOINTMENT OF AUDITOR

The financial statements of the Group for the year ended 31 December 2020 were audited by BDO Limited whose term of office will expire upon the AGM.

The Board proposes to re-appoint BDO Limited as the auditor of the Company and to hold office until the conclusion of the next annual general meeting of the Company.

5. AGM AND PROXY ARRANGEMENT

The notice of the AGM is set out on pages 19 to 23 of this circular. At the AGM, resolutions will be proposed to approve, inter alia, the grant of the Repurchase Mandate and the Issuance Mandate, the extension of the Issuance Mandate by the addition thereto of the number of Shares repurchased pursuant to the Repurchase Mandate and the re-election of Directors.

Pursuant to the Listing Rules, any vote of shareholders at a general meeting must be taken by poll except for purely procedural or administrative matters. Accordingly, all the proposed resolutions will be put to vote by way of poll at the AGM. An announcement on the poll voting results will be made by the Company after the AGM in the manner prescribed under Rule 13.39(5) of the Listing Rules.

A form of proxy for use at the AGM is enclosed with this circular and such form of proxy is also published on the website of the Stock Exchange (http://www.hkexnews.hk) and the Company's website (http://www.petro-king.cn) respectively. Whether or not you are able to attend the AGM, please complete and sign the form of proxy in accordance with the instructions printed thereon and return it, together with the power of attorney or other authority (if any) under which it is signed or a notarially certified copy thereof to the Company's Branch Share Registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong as soon as possible but in any event not less than 48 hours before the time appointed for the holding of the AGM or any adjournment thereof. Completion and delivery of the form of proxy will not preclude you from attending and voting at the AGM or any adjournment thereof if you so wish and in such event, the form of proxy shall be deemed to be revoked.

6. RESPONSIBILITY STATEMENT

This circular, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Listing Rules for the purpose of giving information with regard to the Company. The Directors having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this circular is accurate and complete in all material respects and not misleading or deceptive; and (ii) there are no other matters the omission of which would make any statement herein or this circular misleading.

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LETTER FROM THE BOARD

7. RECOMMENDATION

The Directors consider that the grant of the Repurchase Mandate, the grant/extension of the Issuance Mandate and the re-election of Directors are in the best interests of the Group and the Shareholders as a whole. Accordingly, the Directors recommend the Shareholders to vote in favour of the relevant resolutions to be proposed at the AGM.

The Board also recommends the Shareholders to vote in favour of the resolution in relation to the re-appointment of BDO Limited as the auditor of the Company to be proposed at the AGM.

8. GENERAL INFORMATION

Your attention is drawn to the additional information set out in Appendix I (Explanatory Statement on the Repurchase Mandate) and Appendix II (Details of the Retiring Directors Proposed to be Re-elected at the AGM) to this circular.

Yours faithfully,

By Order of the Board

Petro-king Oilfield Services Limited

Wang Jinlong

Chairman

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APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

This Appendix serves as an explanatory statement, as required by the Listing Rules, to be sent to the Shareholders to enable them to make an informed decision on whether to vote for or against the ordinary resolution to be proposed at the AGM in relation to the grant of the Repurchase Mandate.

1. LISTING RULES RELATING TO THE REPURCHASE OF SECURITIES

The Listing Rules permit companies whose primary listings are on the Stock Exchange to repurchase their fully paid-up shares on the Stock Exchange subject to that all on-market shares repurchased by a company with its primary listing on the Stock Exchange must be approved in advance by an ordinary resolution, either by way of specific approval in relation to specific transactions or by a general mandate to the directors of the company to make such repurchases.

The Company is empowered by its Articles of Association to repurchase its own Shares.

2. SHARES

As at the Latest Practicable Date, the total number of the issued Shares was 1,726,674,682 Shares.

Subject to the passing of the ordinary resolution set out in item 6 of the notice of the AGM in respect of the grant of the Repurchase Mandate and on the basis that the total number of the issued Shares remains unchanged on the date of the AGM, i.e. 1,726,674,682 Shares, the Directors would be authorised under the Repurchase Mandate to repurchase, during the period in which the Repurchase Mandate remains in force, an aggregate number not exceeding 172,667,468 Shares, representing 10% of the total number of the issued Shares as at the date of the AGM.

3. REASONS FOR REPURCHASE OF SHARES

The Directors believe that the Repurchase Mandate is in the interests of the Company and the Shareholders as a whole.

Repurchases of Shares may, depending on market conditions and funding arrangements at the time, result in an enhancement of the net asset value per Share and/or earnings per Share. The Directors are seeking the grant of the Repurchase Mandate to give the Company the flexibility to do so if and when appropriate. The number of Shares to be repurchased on any occasion and the price and other terms upon which the same are repurchased will be decided by the Directors at the relevant time, having regard to the circumstances then pertaining.

- 8 -

APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

4. FUNDING OF REPURCHASES

In repurchasing Shares, the Company may only apply funds legally available for such purpose in accordance with its memorandum and Articles of Association and the applicable laws of the BVI. A listed company may not repurchase its own shares on the Stock Exchange for a consideration other than cash or for settlement otherwise than in accordance with the trading rules of the Stock Exchange.

5. IMPACT OF REPURCHASES

There might be a material adverse impact on the working capital or gearing position of the Company (as compared with the position disclosed in the audited accounts contained in the annual report of the Company for the year ended 31 December 2020) in the event that the Repurchase Mandate was to be carried out in full at any time during the proposed repurchase period.

However, the Directors do not intend to exercise the Repurchase Mandate to such extent as would in the circumstances, have a material adverse effect on the working capital requirements of the Company or the gearing levels which in the opinion of the Directors are from time to time appropriate for the Company.

6. TAKEOVERS CODE

If, on the exercise of the power to repurchase Shares pursuant to the Repurchase Mandate, a Shareholder 's proportionate interest in the voting rights of the Company increases, such increase will be treated as an acquisition for the purposes of Rule 32 of the Takeovers Code. Accordingly, a Shareholder, or group of Shareholders acting in concert (within the meaning under the Takeovers Code), could obtain or consolidate control of the Company and become obliged to make a mandatory offer in accordance with Rule 26 of the Takeovers Code for all the Shares not already owned by such Shareholder or group of Shareholders.

- 9 -

APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

As at the Latest Practicable Date, to the best of the knowledge of the Directors, the following Shareholders are interested in 5% or more of the issued Shares as recorded in the register of interests in shares and short positions of the Company under section 336(1) of Part XV of the SFO:

				Approximate
				percentage of
			Approximate	shareholding if
			percentage of	the Company
			shareholding as	exercises in full
		Number of	at the Latest	the power to
Name of Shareholder	Nature of interest	Shares	Practicable Date	repurchase
		(Note 1)
Mr. Lee Tommy	Beneficiary of trust	337,269,760 (L)	19.53%	21.70%
	(Note 2)
	Interest in	488,920,138 (L)	28.32%	31.46%
	a controlled
	corporation (Note 8)
aEasy Finance	Interest in	488,920,138 (L)	28.32%	31.46%
Holdings Limited	a controlled
	corporation (Note 8)
Zero Finance Group	Interest in	488,920,138 (L)	28.32%	31.46%
Holdings Limited	a controlled
	corporation (Note 8)
Earth Axis	Interest in	488,920,138 (L)	28.32%	31.46%
Investment Limited	a controlled
	corporation (Note 8)
aEasy Credit	Interest in	488,920,138 (L)	28.32%	31.46%
Investment Limited	a controlled
	corporation (Note 8)
Zero Finance	Person having	488,920,138 (L)	28.32%	31.46%
Hong Kong Limited	a security interest
("Zero Finance")	in shares (Note 8)
Mr. Lee Lap	Founder of a	337,269,760 (L)	19.53%	21.70%
	discretionary trust
	(Note 2)
HSBC International	Trustee (Note 2)	337,269,760 (L)	19.53%	21.70%
Trustee Limited

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APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

					Approximate
					percentage of
				Approximate	shareholding if
				percentage of	the Company
				shareholding as	exercises in full
		Number of	at the Latest	the power to
Name of Shareholder	Nature of interest	Shares	Practicable Date	repurchase
		(Note 1)
Lee & Leung Family	Interest in	337,269,760	(L)	19.53%	21.70%
Investment Limited	a controlled
	corporation (Note 2)
Lee & Leung (B.V.I.) Limited	Beneficial owner (Note 2)	335,737,745	(L)	19.44%	21.60%
	Interest in	1,532,015	(L)	0.09%	0.10%
	a controlled
	corporation (Note 2)
TCL Corporation	Interest in	136,303,475	(L)	7.89%	8.77%
	a controlled
	corporation (Note 3)
T.C.L. Industries Holdings	Interest in	136,303,475	(L)	7.89%	8.77%
(H.K.) Limited	a controlled
("TCL HK")	corporation (Note 3)
Exceltop Holdings Limited	Interest in	136,303,475	(L)	7.89%	8.77%
	a controlled
	corporation (Note 3)
Jade Max Holdings Limited	Interest in	136,303,475	(L)	7.89%	8.77%
	a controlled
	corporation (Note 3)
Jade Win Investment Limited	Beneficial owner	136,303,475	(L)	7.89%	8.77%
Mr. Wang Jinlong	Interest in	488,920,138	(L)	28.32%	31.46%
	a controlled
	corporation (Note 4)
Ms. Zhou Xiaojun	Interest of spouse	488,920,138	(L)	28.32%	31.46%
	(Note 4)
King Shine Group Limited	Beneficial owner	488,920,138	(L)	28.32%	31.46%
("King Shine")	(Note 8)

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APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

					Approximate
					percentage of
				Approximate	shareholding if
				percentage of	the Company
				shareholding as	exercises in full
		Number of	at the Latest	the power to
Name of Shareholder	Nature of interest	Shares	Practicable Date	repurchase
		(Note 1)
UBS Group AG	Interest in a controlled	91,121,270	(L)	5.28%	5.86%
	corporation (Note 5)
UBS AG	Beneficial owner (Note 6)	670,857	(L)	0.05%	0.04%
		670,857 (S)	0.05%	0.04%
	Person having	70,093,285	(L)	5.68%	4.51%
	a security interest
	in shares (Note 6)
Jiang Jinzhi	Interest in	62,824,713	(L)	5.08%	4.04%
	a controlled
	corporation (Note 7)
Greenwoods Asset	Investment Manager	91,121,270	(L)	5.28%	5.86%
Management Hong Kong	(Note 9)
Limited
Invest Partner Group Limited	Interest in a controlled	91,121,270	(L)	5.28%	5.86%
	corporation (Note 9)

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APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

Notes:

1. "L" denotes long position and "S" denotes short position.
2. Lee & Leung (B.V.I.) Limited directly holds approximately 19.44% of the total number of issued Shares. It also holds approximately 63.99% of the issued share capital in Termbray Industries International (Holdings) Limited ("Termbray Industries"), where Termbray Industries directly holds 1,532,015 Shares. Therefore, Lee & Leung (B.V.I.) Limited is taken to be interested in the number of Shares held by Termbray Industries pursuant to Part XV of the SFO. Lee & Leung (B.V.I.) Limited is wholly-owned by Lee & Leung Family Investment Limited, which is wholly owned by HSBC International Trustee Limited as trustee for Lee & Leung Family Trust. Mr. Lee Lap is the settlor of the Lee & Leung Family Trust. The discretionary beneficiaries of the Lee & Leung Family Trust are Madam Leung Lai Ping, the children of Mr. Lee Lap and Madam Leung Lai Ping (including Mr. Lee Tommy) and the offspring of such children. Mr. Lee Tommy has resigned as a non-executive Director on 21 April 2021. Mr. Lee Lap, HSBC International Trustee Limited and Lee & Leung Family Investment Limited are taken to be interested in the number of Shares in which Lee & Leung (B.V.I.) Limited is interested for the purpose of the SFO.
3. TCL Corporation directly holds 100% of the issued share capital of TCL HK, which in turn holds 100% of the issued share capital of Exceltop Holdings Limited, which in turn holds 100% of the issued share capital of Jade Max Holdings Limited, which in turn holds 100% of the issued share capital of Jade Win Investment Limited. Therefore, TCL Corporation, TCL HK, Exceltop Holdings Limited and Jade Max Holdings Limited are taken to be interested in the number of Shares held by Jade Win Investment Limited pursuant to Part XV of the SFO.
4. Mr. Wang Jinlong holds approximately 45.24% of the issued share capital in King Shine. Therefore, Mr. Wang Jinlong is taken to be interested in the number of Shares held by King Shine pursuant to Part XV of the SFO. Ms. Zhou Xiaojun is the spouse of Mr. Wang Jinlong. Therefore, Ms. Zhou Xiaojun is deemed to be interested in the Shares in which Mr. Wang Jinlong is interested for the purpose of the SFO.
5. Information is extracted from the corporate substantial shareholder notice filed by UBS Group AG on 31 March 2021.
6. Information is extracted from the corporate substantial shareholder notice filed by UBS AG on 9 February 2015.
7. Information is extracted from the individual substantial shareholder notice filed by Mr. Jiang Jinzhi on 5 February 2015.
8. On 26 April 2018, King Shine has charged the Shares held by it to Zero Finance. Zero Finance is wholly-owned by aEasy Credit Investment Limited, which is wholly-owned by Earth Axis Investment Limited, which is wholly-owned by Zero Finance Group Holdings Limited, which is wholly-owned by aEasy Finance Holdings Limited, which is 99.99% owned by Mr. Lee Tommy. Therefore, Mr. Lee Tommy, aEasy Finance Holdings Limited, Zero Finance Group Holdings Limited, Earth Axis Investment Limited and aEasy Credit Investment Limited are taken to be interested in the number of Shares in which Zero Finance is interested for the purpose of the SFO.
9. Information is extracted from the corporate substantial shareholder notices filed by Greenwoods Asset Management Hong Kong Limited and Invest Partner Group Limited on 6 January 2021.

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APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

In the event that the Directors shall exercise in full the power to repurchase Shares in accordance with the Repurchase Mandate and if there is no other change in the total number of the issued Shares, the interest of the above substantial Shareholders would be increased to the approximate percentage as shown in the last column above.

The Directors are aware that the above increase in shareholdings of King Shine in the Company upon the exercise in full of the power to repurchase Shares pursuant to the Repurchase Mandate would give rise to an obligation for King Shine, Mr. Wang Jinlong and Ms. Zhou Xiaojun (together, the "King Shine Group") to make a mandatory offer in accordance with Rule 26 of the Takeovers Code. However, the Directors have no intention of exercising the proposed Repurchase Mandate to such an extent as would result in takeover obligations for the King Shine Group. Save as aforesaid, the Directors are not aware of any other consequences which may arise under the Takeovers Code as a result of any repurchases to be made under the Repurchase Mandate.

The Directors will exercise the powers conferred by the Repurchase Mandate to repurchase Shares in circumstances, which they deem appropriate for the benefits of the Company and the Shareholders as a whole. However, the Directors have no present intention to exercise the Repurchase Mandate to the extent that the number of Shares in the hands of the public would fall below the prescribed minimum percentage of 25%.

7. GENERAL

None of the Directors or, to the best of their knowledge having made all reasonable enquiries, any of their respective close associates, have any present intention to sell any Shares to the Company in the event that the grant of the Repurchase Mandate is approved by the Shareholders.

The Directors have undertaken to the Stock Exchange to exercise the power of the Company to make repurchases of Shares pursuant to the Repurchase Mandate in accordance with the Listing Rules and the applicable laws of the BVI.

The Company has not been notified by any core connected person of the Company that they have a present intention to sell any Shares to the Company, or that they have undertaken not to sell any Shares held by them to the Company in the event that the grant of the Repurchase Mandate is approved by the Shareholders.

8. REPURCHASES OF SHARES MADE BY THE COMPANY

No repurchases of Shares have been made by the Company in the six months preceding the Latest Practicable Date, whether on the Stock Exchange or otherwise.

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APPENDIX I EXPLANATORY STATEMENT ON THE REPURCHASE MANDATE

9. MARKET PRICES OF SHARES

The highest and lowest prices per Share at which the Shares have traded on the Stock Exchange in each of the previous 12 calendar months were as follows:

	Share Prices
Month	Highest	Lowest
	HK$	HK$
2020
May	0.114	0.076
June	0.12	0.082
July	0.118	0.085
August	0.12	0.086
September	0.118	0.091
October	0.104	0.088
November	0.123	0.083
December	0.118	0.089
2021
January	0.110	0.091
February	0.16	0.091
March	0.12	0.097
April (up to the Latest Practicable Date)	0.099	0.081

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APPENDIX II DETAILS OF THE RETIRING DIRECTORS PROPOSED TO BE RE-ELECTED AT THE AGM

Pursuant to the Listing Rules, the details of the Directors who will retire at the AGM according to the Articles of Association and will be proposed to be re-elected at the AGM are provided below:

Mr. Wang Jinlong

Mr. Wang Jinlong (王金龍) ("Mr. Wang"), aged 55, is our chairman and executive Director. He was appointed as an executive Director on 31 December 2007 and is also a director of certain subsidiaries of the Group. Mr. Wang is primarily responsible for the long term development strategy of the Group. He has over 30 years of experience in the oil and gas industry. Mr. Wang founded our Group in April 2002 as the executive director and general manager of Petro-king Oilfield Technology Ltd. Prior to that, he worked at 菲利普 斯中國有限公司 (Phillips China Inc.) (later known as 康菲石油中國有限公司 (ConocoPhillips China Inc.)) between 1994 and 2003 where he had served as a senior drilling/production engineer. Mr. Wang graduated from 西南石油學院 (Southwest Petroleum Institute*) with a Bachelor of Engineering degree majoring in drilling engineering in July 1986. Mr. Wang obtained a Mid-level Professional Qualification as an engineer in April 1993 issued by 中華人民共和國地質礦產部 (the PRC Ministry of Geology and Mineral Resources*), which was later reformed and incorporated into 中華人民共和國 國土資源部 (the PRC Ministry of Land and Resources*), and a qualification of senior engineer issued by CNOOC in March 2002. Mr. Wang has been recognised for his contributions to the development of the technology of geology and was awarded certificates for such contributions by the PRC Ministry of Geology and Mineral Resources in December 1996. Under Code Provision A.2.1, the roles of chairman and the chief executive officer (the "CEO") should be separate and should not be performed by the same individual. Mr. Wang was performing both the roles of chairman and CEO of the Group since the listing of the Company until 25 April 2016. Taking into account Mr. Wang's strong expertise in the oil and gas industry, the Board considered that the roles of chairman and chief executive officer being performed by Mr. Wang enables more effective and efficient overall business planning, decision making and implementation thereof by the Group. However, in order to maintain good corporate governance and fully comply with the Code Provisions, Mr. Wang has resigned as the CEO on 25 April 2016.

Mr. Wang has entered into a service agreement with the Company for a term of three years renewable upon expiration with mutually agreed terms and conditions and terminable by not less than three months' notice in writing served by either party to the other. The directorship of Mr. Wang is subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the Articles of Association. Mr. Wang is entitled to receive an annual salary of HK$135,000 as executive Director and an annual salary of RMB760,000 as the chairman, which was determined with reference to his relevant experience, qualifications, duties and responsibilities in the Company as well as prevailing market conditions. The service agreement can be terminated by either party by serving three months' notice in writing on the other.

Mr. Wang is interested in 489,029,619 Shares within the meaning of Part XV of the SFO as at the Latest Practicable Date. Mr. Wang is a director of King Shine Group Limited ("King Shine"), a substantial shareholder of the Company.

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APPENDIX II DETAILS OF THE RETIRING DIRECTORS PROPOSED TO BE RE-ELECTED AT THE AGM

Mr. Zhao Jindong

Mr. Zhao Jindong (趙錦棟) ("Mr. Zhao"), aged 57, is our executive Director. He joined our Group in 2003 as a vice general manager. He was appointed as an executive Director on 24 December 2012 and is also a director of certain subsidiaries of the Group. Mr. Zhao has over 30 years of experience in drilling and completion services of the oil and gas industry. Before joining our Group, Mr. Zhao was the senior drilling and completion engineer at 康菲石油公司 (ConocoPhillips Oil Company) from October 2002 to December 2003. He was employed by ConocoPhillips China Inc. from October 1997 to October 2002 where he was recognised for his exemplary performance and contributions to the operations in Xinjiang. Mr. Zhao started his career as an engineer trainee at 地質礦產部石 油鑽井研究所 (Drilling Institute of Minority of Geology*) in December 1983. He continued his employment with the Drilling Institute of Minority of Geology where he became a senior engineer and an assistant manager of the drilling development department. Mr. Zhao graduated from 中國地質大學 (China Geology University*) with a diploma in drilling engineering in 1988. Mr. Zhao has been appointed as the CEO of the Group on 25 April 2016. On 1 December 2016, Mr. Zhao has resigned as the CEO of the Company due to health reason, but remained as an executive Director.

Mr. Zhao has entered into a service agreement with the Company for a term of three years renewable upon expiration with mutually agreed terms and conditions and terminable by not less than three months' notice in writing served by either party to the other. The directorship of Mr. Zhao is subject to retirement by rotation and re-election as a Director in accordance with the Articles of Association. Mr. Zhao is entitled to receive an annual salary of HK$135,000 as executive Director and an annual salary of RMB800,000 as the vice president, which was determined with reference to the prevailing market conditions, Mr. Zhao's expertise, qualifications and his duties and responsibilities in the Company's affairs. The service agreement can be terminated by either party by serving three months' notice in writing on the other.

Mr. Zhao is interested in 8,788,314 Shares within the meaning of Part XV of the SFO as at the Latest Practicable Date. Mr. Zhao is a director of King Shine, a substantial shareholder of the Company.

Mr. Tong Hin Wor

Mr. Tong Hin Wor (湯顯和) ("Mr. Tong"), aged 75, is our independent non-executive Director. He was appointed as an independent non-executive Director on 18 February 2013. He holds a diploma in management studies from the Hong Kong Polytechnic University. Mr. Tong has over 30 years of working experience in financial management. He was appointed as an independent non-executive director of Termbray Industries International (Holdings) Limited (Stock code: 93) in 2008 where he has also been serving as a member of the audit committee, the nomination committee and the remuneration committee. Mr. Tong was the group vice president of Elec & Eltek Corporate Services Limited from 1995 to 2004 and the group controller of Elec & Eltek (International) Limited in 1995. He was the financial controller of Karrie Industrial Company Limited, a company principally engaged in electronics and sheet metal manufacturing in 1993.

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APPENDIX II DETAILS OF THE RETIRING DIRECTORS PROPOSED TO BE RE-ELECTED AT THE AGM

Mr. Tong has entered into a letter of appointment with the Company for a term of three years renewable upon expiration with mutually agreed terms and conditions and terminable by not less than three months' notice in writing served by either party to the other. The directorship of Mr. Tong is subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the Articles of Association. Mr. Tong is entitled to receive an annual remuneration of HK$153,000, which was determined with reference to his relevant experience, qualifications, duties and responsibilities in the Company as well as prevailing market conditions. The letter of appointment can be terminated by either party by serving three months' notice in writing on the other.

Mr. Huang Yu (黃瑜), aged 57, joined the Group as our vice president in December 2018, and was appointed as the CEO in May 2019. Mr. Huang is responsible for the overall management of the Group's business operations. Mr. Huang has over 30 years of experience in the oilfield services industry. Mr. Huang graduated from Southwest Petroleum University in July 1989 with a master 's degree and obtained an Executive Master of Business Administration degree from the School of Economics and Management, Tsinghua University in 2011. Mr. Huang holds the professional title of senior engineer in petroleum engineering and professor-level senior economist, and has accumulated rich experience in international cooperation in the oil and gas fields. Before joining the Group, Mr. Huang served as the chief executive officer of Polytec Resources Ltd. from December 2007 to December 2013. Mr. Huang acted as the vice president and chief economist of China National Oil and Gas Exploration and Development Company from June 2000 to October 2007, and was responsible for company planning, business development and mergers and acquisitions business. He served as the manager of planning and operation department of China National Oil and Gas Exploration and Development Company from May 1999 to May 2000. From January 1997 to May 1999, Mr. Huang worked as the chief economist and manager of planning and finance department of CNPC International (Nile) Ltd.. From July 1989 to December 1996, Mr. Huang worked in Zhongyuan Oilfield and served as the senior reservoir engineer of the Development Research Institute of Zhongyuan Petroleum Exploration Bureau and the director of the International Cooperation Department of Zhongyuan Petroleum Exploration Bureau. Mr. Huang was the non-executive director of China Oil HBP Science

• Technology Co., Ltd., a company listed on the Shenzhen Stock Exchange (stock code: 002554), from December 2016 to December 2019.

Mr. Huang has entered into a service agreement with the Company for a term of three years commencing from 21 April 2021, subject to retirement by rotation and re-election at the next following general meeting of the Company in accordance with the articles of association of the Company. Mr. Huang is entitled to an annual salary of HK$135,000 as executive Director and an annual salary of RMB607,000 as the CEO, determined with reference to the prevailing market conditions, Mr. Huang's expertise, qualifications and his duties and responsibilities in the Group's affairs and a year-end discretionary bonus determined with reference to the Company's annual performance. The service agreement can be terminated by either party by serving three months' notice in writing on the other party.

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APPENDIX II DETAILS OF THE RETIRING DIRECTORS PROPOSED TO BE RE-ELECTED AT THE AGM

As at the date of this announcement, Mr. Huang is interested in (i) 954,200 shares of the Company (the "Shares"); and (ii) 17,000,000 share options of the Company. In addition, Mr. Huang is also interested in 300 shares of King Shine, representing approximately 3.07% of the issued share capital of King Shine. King Shine is a substantial shareholder of the Company.

Mr. Wong Shiu Kee, aged 57, was the executive director of Termbray Industries International (Holdings) Limited (stock code: 0093) from 18 January 2001 to 8 April 2021 and has been a director of Guangdong Ellington Electronics Technology Company Limited since December 2007, which is listed on the Shanghai Stock Exchange (stock code: 603328). Mr. Wong has over 20 years of experience in financial management. He is a fellow member of both the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants, and is also a qualified Chartered Secretary designated as ACG and ACS.

Mr. Wong has entered into a letter of appointment with the Company for a term of three years commencing from 21 April 2021, subject to retirement by rotation and re-election at the next following general meeting of the Company in accordance with the articles of association of the Company. Mr. Wong is entitled to an annual salary of HK$240,000, determined with reference to the prevailing market conditions, Mr. Wong's expertise, qualifications and his duties and responsibilities in the Group's affairs. The letter of appointment can be terminated by either party by serving three months' notice in writing on the other party.

Save as disclosed above, as at the Latest Practicable Date, none of Mr. Wang Jinlong, Mr. Zhao Jindong, Mr. Tong Hin Wor, Mr. Huang Yu and Mr. Wong Shiu Kee holds any other positions in the Company or any of its subsidiaries or holds any directorship in any listed companies in the past three years preceding the Latest Practicable Date or has other major appointments and professional qualifications, and nor are they related to any Directors, senior management, substantial shareholders or controlling shareholders of the Company, or interested in any Shares within the meaning of Part XV of the SFO as at the Latest Practicable Date.

Save as disclosed above, there are no other matters that are required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules and there are no other matters relating to their re-election that need to be brought to the attention of the Shareholders.

• For identification purpose only

- 19 -

NOTICE OF AGM

PETRO-KING OILFIELD SERVICES LIMITED

百勤油田服務有限公司

(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 2178)

NOTICE IS HEREBY GIVEN that the annual general meeting (the "AGM") of Petro-king Oilfield Services Limited (the "Company") will be held at 17th Floor, Tower 2, Silvercord, 30 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong on Friday, 18 June 2021 at 2:30 p.m. for the following purposes:

1. To receive and consider the audited consolidated financial statements and the reports of the directors and auditor of the Company for the financial year ended 31 December 2020;
2. To re-elect, each as a separate resolution, the following persons as directors of the Company:
3. 1. Mr. Wang Jinlong
   2. Mr. Zhao Jindong
   3. Mr. Tong Hin Wor
   4. Mr. Huang Yu
   5. Mr. Wong Shiu Kee
4. To authorise the board of directors of the Company to fix the remuneration of the directors of the Company;
5. To re-appoint BDO Limited as auditor of the Company and to authorise the board of directors of the Company to fix its remuneration;

As special business, to consider and, if thought fit, pass with or without amendments, the following resolutions:

AS ORDINARY RESOLUTIONS

5. "THAT:

1. subject to paragraph 5(c) below, the exercise by the directors of the Company during the Relevant Period (as hereinafter defined) of all the powers of the Company to allot, issue and otherwise deal with additional shares or securities convertible into shares, options, warrants

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NOTICE OF AGM

or similar rights to subscribe for any shares, and to make or grant offers, agreements and options which might require the exercise of such powers be and is hereby generally and unconditionally approved;

1. the approval in paragraph 5(a) above shall authorise the directors of the Company during the Relevant Period (as hereinafter defined) to make or grant offers, agreements and options which might require the exercise of such powers after the end of the Relevant Period (as hereinafter defined);
2. the aggregate number of shares allotted and issued or agreed conditionally or unconditionally to be allotted (whether pursuant to options or otherwise) by the directors of the Company pursuant to the approval in paragraph 5(a) above, otherwise than pursuant to (i) a Rights Issue (as hereinafter defined); or (ii) the exercise of options under any share option scheme or similar arrangements for the time being adopted for the grant or issue to officers and/or employees of the Company and/or any of its subsidiaries of shares of the Company or right to acquire shares of the Company; or (iii) any scrip dividend or similar arrangements providing for the allotment of shares of the Company in lieu of the whole or part of a dividend on shares of the Company in accordance with the articles of association of the Company in force from time to time; or (iv) any issue of shares of the Company upon the exercise of rights of subscription or conversion under the terms of any warrants of the Company, shall not exceed 20% of the aggregate number of the issued shares of the Company as at the date of the passing of this resolution and the approval pursuant to paragraph 5(a) above shall be limited accordingly;
3. for the purpose of this resolution, "Relevant Period" means the period from the date of the passing of this resolution until whichever is the earliest of:
4. 1. the conclusion of the next annual general meeting of the Company;
   2. the expiration of the period within which the next annual general meeting of the Company is required by the articles of association of the Company or any applicable law of the British Virgin Islands to be held; or
   3. the passing of an ordinary resolution by the shareholders of the Company in general meeting revoking or varying the authority given to the directors of the Company by this resolution; and

- 21 -

NOTICE OF AGM

"Rights Issue" means an offer of shares of the Company, or offer or issue of warrants, options or other securities giving rights to subscribe for shares open for a period fixed by the directors of the Company to holders of shares of the Company or the register on a fixed record date in proportion to their then holdings of such shares (subject to such exclusion or other arrangements as the directors of the Company may deem necessary or expedient in relation to fractional entitlements, or having regard to any restrictions or obligations under the laws of, or the requirements of, or the expense or delay which may be involved in determining the existence or extent of any restrictions or obligations under the laws of, or the requirements of, any jurisdictions outside Hong Kong or any recognised regulatory body or any stock exchange outside Hong Kong)."

6. "THAT:

1. subject to paragraph 6(b) below, the exercise by the directors of the Company during the Relevant Period (as hereinafter defined) of all the powers of the Company to repurchase shares of the Company on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") or any other stock exchange on which the shares of the Company may be listed and recognised by the Securities and Futures Commission and the Stock Exchange for such purpose, subject to and in accordance with the rules and regulations of the Securities and Futures Commission, the Stock Exchange, the BVI Business Companies Act 2004 (and any amendments thereto) and all other applicable laws in this regard, be and the same is hereby generally and unconditionally approved;
2. the aggregate number of shares of the Company which may be repurchased pursuant to the approval in paragraph 6(a) above shall not exceed 10% of the aggregate number of the issued shares of the Company as at the date of the passing of this resolution and the approval pursuant to paragraph 6(a) above shall be limited accordingly;
3. for the purpose of this resolution, "Relevant Period" means the period from the date of the passing of this resolution until whichever is the earliest of:
4. 1. the conclusion of the next annual general meeting of the Company;
   2. the expiration of the period within which the next annual general meeting of the Company is required by the articles of association of the Company or any applicable laws of the British Virgin Islands to be held; or
   3. the passing of an ordinary resolution by the shareholders of the Company in general meeting revoking or varying the authority given to the directors of the Company by this resolution."

- 22 -

NOTICE OF AGM

7. "THAT conditional upon the resolutions nos. 5 and 6 above being passed, the general mandate granted to the directors of the Company to exercise the powers of the Company to allot, issue and otherwise deal with shares of the Company pursuant to resolution no. 5 above be and is hereby extended by the addition to the aggregate number of the shares of the Company which may be allotted by the directors of the Company pursuant to such general mandate an amount representing the aggregate number of the shares of the Company repurchased by the Company under the authority granted pursuant to resolution no. 6 above, provided that such amount shall not exceed 10% of the aggregate number of the issued shares of the Company as at the date of the passing of this resolution."

	By Order of the Board
	Petro-king Oilfield Services Limited
	Wang Jinlong
	Chairman
Hong Kong, 30 April 2021
Registered office:	Principal place of business
Commerce House	in Hong Kong:
Wickhams Cay 1	Suite 1603A, 16/F
P.O. Box 3140	Tower 1, Silvercord
Road Town, Tortola	30 Canton Road
British Virgin Islands	Kowloon, Hong Kong
VG1110

Notes:

1. The register of members of the Company will be closed from Tuesday, 15 June 2021 to Friday, 18 June 2021, both dates inclusive, during which period no transfer of shares will be registered. In order to attend the AGM, all transfer of shares, accompanied by the relevant share certificates and transfer forms, must be lodged with the Company's Branch Share Registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17/F, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong for registration not later than 4:30 p.m. on Monday, 14 June 2021.
2. Any member of the Company entitled to attend and vote at the AGM shall be entitled to appoint a proxy to attend and vote instead of him/her. A proxy need not be a member of the Company. A member who is the holder of two or more shares of the Company may appoint more than one proxy to represent him/her to attend and vote on his/her behalf. If more than one proxy is so appointed, the appointment shall specify the number and class of shares in respect of which each such proxy is so appointed.
3. To be valid, a form of proxy and the power of attorney or other authority (if any) under which it is signed or a notarially certified copy thereof, must be lodged at the Company's Branch Share Registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong as soon as possible but in any event not less than 48 hours before the time appointed for the holding of the AGM or any adjournment thereof (as the case may be).
4. Completion and delivery of the form of proxy shall not preclude members from attending and voting in person at the AGM or any adjournment thereof (as the case may be) should they so wish, and in such event, the form of proxy previously submitted by such member(s) shall be deemed to be revoked.

- 23 -

NOTICE OF AGM

1. Where there are joint registered holders of any share(s) of the Company, any one of such persons may vote at any meeting, either in person or by proxy, in respect of such share(s) as if he/she was solely entitled thereto; but if more than one of such joint holders are present at the meeting personally or by proxy, the vote of that one of the said persons so present whose name stands first on the register of members of the Company in respect of such share(s) shall be accepted to the exclusion of the votes of the other joint holders.

PRECAUTIONARY MEASURES AT THE AGM

In light of the recent developments of the COVID-19 pandemic, the Company strongly recommends shareholders to appoint the chairman of the AGM as their proxy to vote on the resolutions as they have indicated in their proxy forms on their behalf, instead of attending the AGM in person. The proxy forms have been despatched to shareholders and may also be downloaded from the Company's website at www.petro-king.cn or the Stock Exchange's website at www.hkexnews.hk. To be valid, proxy forms must be deposited at the Branch Share Registrar of the Company, Computershare Hong Kong Investor Services Limited, at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong not less than 48 hours before the AGM or any adjournment thereof.

Taking into consideration the guidelines issued by the Government of the Hong Kong Special Administrative Region and the Joint Statement dated 1 April 2020 made by The Securities and Futures Commission and The Stock Exchange of Hong Kong Limited in relation to General Meetings in light of the Prevention and Control of Disease (Prohibition on Group Gathering) Regulation, the Company will implement the following preventive measures at the AGM to protect attending shareholders from the risk of infection:

• Compulsory body temperature check will be conducted for every shareholder or proxy at the entrance of the venue.
• Every shareholder or proxy is required to wear surgical face mask throughout the meeting.
• No refreshments will be served.

Any person who does not comply with the above precautionary measures may be denied entry into the AGM venue.

As at the date of this notice, the executive directors of the Company are Mr. Wang Jinlong, Mr. Zhao Jindong and Mr. Huang Yu; the non-executive director of the Company is Mr. Wong Shiu Kee; and the independent non-executive directors of the Company are Mr. Leung Lin Cheong, Mr. Tong Hin Wor and Mr. Xin Junhe.

- 24 -