China Boqi Environmental : INSIDE INFORMATION - LEGAL PROCEEDINGS INVOLVING EXECUTIVE DIRECTORS AND CONTROLLING SHAREHOLDERS

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China Boqi Environmental (Holding) Co., Ltd.

中 國 博 奇 環 保 ( 控 股 ）有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2377)

INSIDE INFORMATION

LEGAL PROCEEDINGS INVOLVING EXECUTIVE DIRECTORS AND

CONTROLLING SHAREHOLDERS

This announcement is made by China Boqi Environmental (Holding) Co., Ltd. (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) of Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company was informed by Mr. Zeng Zhijun ("Mr. Zeng") (an executive director (the "Director") of the Company, the chief executive officer and a controlling shareholder of the Company) that Mr. Cheng Liquan Richard ("Mr. Cheng") (an executive Director and controlling shareholder of the Company) and a company jointly controlled by Mr. Cheng and Mr. Zeng (collectively, the "Plaintiffs") have filed a lawsuit (the "Lawsuit") against Mr. Zeng and Best Dawn Limited (a company wholly owned by Mr. Zeng and controlling shareholder of the Company) (collectively, the "Defendants"), pursuant to which there are disputes between the Plaintiffs and the Defendants as to the legal rights of certain companies which are not subsidiaries, shareholders, nor associates of the Company.

To the best of the information, knowledge and belief of the Company after making reasonable enquiries, save that Mr. Cheng and Mr. Zeng are involved in the Lawsuit, none of the Directors, senior management, the Company and its subsidiaries (collectively, the "Group") is party of the Lawsuit nor is involved in the Lawsuit, and therefore the Company is of the view that the business and operation of the Group is not affected by the Lawsuit.

The Company will issue further announcement(s) as and when required if there is any material development on the Lawsuit.

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Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

China Boqi Environmental (Holding) Co., Ltd.

Zeng Zhijun

Vice Chairman, Executive Director and Chief Executive Officer

Beijing, PRC, 12 January 2021

As at the date of this announcement, the executive Directors are Mr. Cheng Liquan Richard and Mr. Zeng Zhijun; the non-executive Directors are Mr. Zheng Tony Tuo, Mr. Zhu Weihang and Mr. Chen Xue; and the independent non-executive Directors are Mr. Liu Genyu, Dr. Xie Guozhong and Mr. Lu Zhifang.

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