China Wan Tong Yuan : GRANT OF WAIVER FROM STRICT COMPLIANCE WITH RULE 14.41(A) OF THE LISTING RULES

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.

CHINA WAN TONG YUAN (HOLDINGS) LIMITED

中 國 萬 桐 園（ 控 股 ）有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 6966)

GRANT OF WAIVER FROM STRICT COMPLIANCE WITH

RULE 14.41(A) OF THE LISTING RULES

Reference is made to the announcements of China Wan Tong Yuan (Holdings) Limited (the ''Company'') dated 30 June 2020 (the ''Announcement'') and 7 July 2020 in relation to the successful tender for a cemetery joint venture project involving the formation of a joint venture company by a subsidiary of the Company and the entering into of a joint venture agreement, which constitutes a major transaction of the Company under Chapter 14 of the Listing Rules.

Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

Pursuant to Rule 14.41(a) of the Listing Rules, a circular (the ''Circular'') containing, among others, further details of the JV Agreement and the transactions contemplated thereunder must be despatched to the Shareholders within 15 business days after publication of the Announcement.

As additional time is required for the Company to prepare and finalise certain financial information relating to indebtedness statements and working capital sufficiency for inclusion in the circular, the Company has applied to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules in order to delay the despatch of the Circular to a date falling on or before 25 August 2020 (the ''Waiver'').

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The Stock Exchange has granted the Waiver to the Company on the basis that the Company will despatch the Circular on or before 25 August 2020 and disclose the Waiver by way of this announcement. The Stock Exchange may withdraw or change the Waiver if the Company's situation changes.

By order of the Board

China Wan Tong Yuan (Holdings) Limited

Zhao Ying

Chairman

Hong Kong, 27 July 2020

As at the date of this announcement, the non-executive Director and the Chairman of the Company is Ms. Zhao Ying; the executive Directors of the Company are Ms. Li Xingying and Mr. Huang Guangming, and the independent non-executive Directors of the Company are Mr. Cheung Ying Kwan, Dr. Wong Wing Kuen Albert and Mr. Choi Hon Keung Simon.

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