GCL Poly Energy : Announcements and Notices - Clarification Announcement - Discloseable Transaction - Capital Increase Agreement

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.

GCL-POLY ENERGY HOLDINGS LIMITED

保 利 協 鑫 能 源 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3800)

CLARIFICATION ANNOUNCEMENT

DISCLOSEABLE TRANSACTION

CAPITAL INCREASE AGREEMENT

We refer to the announcement of GCL-Poly Energy Holdings Limited (the "Company") dated 30 May 2019 in relation to the discloseable transaction regarding the capital increase in Inner Mongolia Zhonghuan GCL (the "Announcement"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Company would like to clarify the following contents in the Announcement:

1. In the section "Information on the Parties" of the Announcement, information on "Hohhot Industrial Park Fund" should be replaced with the following:
   Hohhot Lingchuang Investment Fund
   Hohhot Lingchuang Investment Fund is a limited partnership fund established and
   existing under the laws of the PRC and its manager is Inner Mongolia Zhongke Qingyun Investment Holdings Management Co., Ltd.* (內蒙古中科青雲股權投資管 理有限公司).
2. In the section "Definitions" of the Announcement, the definition of "Hohhot Industrial Park" should be replaced with the following:

"Hohhot Lingchuang	Hohhot Investment Lingchuang Investment Fund (Limited
Investment Fund"	Partnership)* (呼和浩特市領創投資基金（有限合夥)), a limited
	partnership established and existing under the laws of the PRC
	with its manager being Inner Mongolia Zhongke Qingyun
	Investment Holdings Management Co., Ltd.* (內蒙古中科青
	雲股權投資管理有限公司)

- 1 -

1. All references to "Hohhot Industrial Park Fund" in the Announcement should be replaced with "Hohhot Lingchuang Investment Fund".

To the best of the Directors' knowledge, information and belief after having made all reasonable enquiries, Hohhot Lingchuang Investment Fund and its ultimate beneficial owner are Independent Third Parties.

Save as disclosed above, the other contents of the Announcement remain unchanged.

• For identification purposes only

By order of the Board

GCL-Poly Energy Holdings Limited

保利協鑫能源控股有限公司

Zhu Gongshan

Chairman

Hong Kong, 6 June 2019

As at the date of this announcement, the Board comprises Mr. Zhu Gongshan (Chairman), Mr. Zhu Zhanjun, Mr. Zhu Yufeng, Ms. Sun Wei, Mr. Yeung Man Chung, Charles, Mr. Jiang Wenwu and Mr. Zheng Xiongjiu as executive Directors; Ir. Dr. Raymond Ho Chung Tai, Mr. Yip Tai Him, Dr. Shen Wenzhong and Mr. Wong Man Chung, Francis as independent non-executive Directors.

- 2 -