China Boqi Environmental : 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).

Reference is made to the announcement of the Company dated 12 January 2021 in relation to

1. lawsuit (the "January Lawsuit") between, among others, Mr. Zeng Zhijun ("Mr. Zeng") (an executive director (the "Director") of the Company, the chief executive officer and a controlling shareholder of the Company) and Mr. Cheng Liquan Richard ("Mr. Cheng") (an executive Director and controlling shareholder of the Company).

The Company was informed by Mr. Zeng that he has filed a lawsuit (the "Lawsuit A") against Mr. Cheng and a company that he is interested in at end of January 2021. The Company was also informed by Mr. Zeng that Mr. Cheng and two companies controlled by him have filed a lawsuit (the "Lawsuit B," together with the January Lawsuit and the Lawsuit A, the "Lawsuits") against Mr. Zeng, Best Dawn Limited (a company wholly owned by Mr. Zeng and controlling shareholder of the Company) and a company that Mr. Zeng is interested in in early February 2021.

Based on the information currently available to the Company, the Lawsuits are in relation to disputes among Mr. Cheng, Mr. Zeng and their controlled companies 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 Lawsuits, none of the Directors, senior management, the Company and its subsidiaries (collectively, the "Group") is party of the Lawsuits nor is involved in the Lawsuits, and therefore the Company is of the view that the business and operation of the Group is not affected by the Lawsuits.

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

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, 5 February 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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