This Annual Report, in both Chinese and English versions, is available on the Company's website athttp://www.conchventure.com (the "Company Website"). Shareholders who have chosen or have been deemed consented to receive the corporate communications of the Company (the "Corporate Communications") via the Company Website and who for any reason have difficulty in receiving or gaining access to the Corporate Communications posted on the Company Website will promptly upon request be sent the Corporate Communications in printed form free of charge.

Shareholders may at any time change their choice of the means of receipt of the Corporate Communications (either in printed form or via the Company Website).

Shareholders may send their requests at any time to receive the Annual Report and/or to change their choice of the means of receipt of the Corporate Communications by notice in writing to the share registrar of the Company, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17/F, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong.

CONTENTS

Definitions

2

1.

Corporate Information

5

2.

Financial Highlights

7

3.

2021 Milestones of Conch Venture

8

4.

Business Review and Outlook

10

5.

Management Discussion and Analysis

21

6.

Corporate Governance Report

32

7.

Report of the Directors

52

8.

Biographies of Directors and Senior Management

73

9.

Independent Auditor's Report

79

10.

Statement of Profit or Loss

91

11.

Statement of Profit or Loss and

Other Comprehensive Income

93

12.

Statement of Financial Position

94

13.

Statement of Changes in Equity

96

14.

Cash Flow Statement

98

15.

Notes to the Financial Statements

100

Annual Report 2021

2

DEFINITIONS

In this report, unless the context otherwise requires, the following expressions shall have the following meanings:

2022 Annual General Meeting:

the annual general meeting to be convened by the Company on

24 June 2022, or any adjournment thereof

Agile Holdings:

ඩ֢ᆀණྠછٰϞࠢʮ̡ (Agile Group Holdings Limited*)

Articles of Association:

the articles of association of the Company

Associated corporation(s):

has the meaning ascribed thereto under the SFO

Audit Committee:

the audit committee of the Board

Board:

the board of Directors of the Company

BOT:

build-operate-transfer, a type of business arrangement used in

the construction of a facility

Bozhou Conch Venture Green:

࠲ψऎ௴อۨືঐܔጘҿࣘϞࠢப΂ʮ̡ (Bozhou Conch

Venture New Energy-saving Building Material Co., Ltd.*)

China/PRC:

the People's Republic of China

Chongqing Environmental Protection: ࠠᅅऎ௴ᐑڭ߅ҦϞࠢப΂ʮ̡ (Chongqing Conch Venture

Environmental Protection Technology Co., Ltd.*)

CK Engineering:

τᏏऎᑮʇ੠ʈ೻Ϟࠢʮ̡ (Anhui Conch Kawasaki Engineering

Co., Ltd.*)

CK Shanghai:

ɪऎऎᑮʇ੠ືঐᐑڭʈ೻Ϟࠢʮ̡ (Shanghai Conch Kawasaki

Engineering Co., Ltd.*)

CK Equipment:

τᏏऎᑮʇ੠ືঐண௪ႡிϞࠢʮ̡ (Anhui Conch Kawasaki

Energy Conservation Equipment Manufacturing Co., Ltd.*)

CKEM:

τᏏऎᑮʇ੠ༀ௪ႡிϞࠢʮ̡ (Anhui Conch Kawasaki

Equipment Manufacturing Co., Ltd.*)

CNBM:

ʕ਷ܔҿٰ΅Ϟࠢʮ̡ (China National Building Material

Company Limited*)

Company/Conch Venture:

ʕ਷ऎᑮ௴ุછٰϞࠢʮ̡ (China Conch Venture Holdings

Limited*)

3

China Conch Venture Holdings Limited

DEFINITIONS

Conch Cement:

τᏏऎᑮ˥إٰ΅Ϟࠢʮ̡ (Anhui Conch Cement Co., Ltd.*)

Conch Design Institute:

τᏏऎᑮܔҿணࠇ޼Ӻ৫Ϟࠢப΂ʮ̡ (Anhui Conch

Construction Materials Design Institute Co., Ltd.*)

Conch Environment:

ʕ਷ऎᑮᐑڭછٰϞࠢʮ̡ (China Conch Environment

Protection Holdings Limited*)

Conch Group:

Conch Holdings and its affiliates (primarily Conch Cement and

Conch Profiles)

Conch Holdings:

τᏏऎᑮණྠϞࠢப΂ʮ̡ (Anhui Conch Holdings Co., Ltd.*)

Conch IT Engineering:

τᏏऎᑮڦࢹҦஔʈ೻Ϟࠢப΂ʮ̡ (Anhui Conch IT Engineering

Co., Ltd.*)

Conch Profiles:

ጾಳऎᑮۨҿ߅Ҧٰ΅Ϟࠢʮ̡ (Wuhu Conch Profiles and

Science Co., Ltd.*)

Conch Venture BVI:

ʕ਷ऎ௴છٰ਷ყϞࠢʮ̡ (China Conch Venture Holdings

International Limited*)

Conch Venture Green:

τᏏऎ௴อۨືঐܔጘҿࣘϞࠢப΂ʮ̡ (Anhui Conch Venture

New Energy-saving Building Material Co., Ltd.*)

Connected person(s):

has the meaning ascribed thereto under the Listing Rules

CV Investment:

τᏏऎᑮ௴ุҳ༟Ϟࠢப΂ʮ̡ (Anhui Conch Venture

Investment Co., Ltd.*)

Director(s):

the director(s) of the Company

Group:

the Company and its subsidiaries

Haizhong Environmental:

τᏏऎʕᐑڭϞࠢப΂ʮ̡ (Anhui Haizhong Environmental

Company Limited*)

Hangzhou Jinjiang Group:

؄ψᎀϪණྠϞࠢʮ̡ (Hangzhou Jinjiang Group Co., Ltd.*)

HKD:

the lawful currency of Hong Kong

Hong Kong:

the Hong Kong Special Administrative Region of the PRC

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China Conch Venture Holdings Ltd. published this content on 24 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 11:24:10 UTC.