Hilong : VOLUNTARY ANNOUNCEMENT SIGNING OF PIPELINE ANTI-CORROSION COATING AND CONCRETE-WEIGHTED COATING SERVICE AGREEMENTS WITH CONSIDERATION OF APPROXIMATELY RMB221 MILLION IN AGGREGATE BY HILONG PIPELINE

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Hilong Holding Limited

海隆控股有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1623)

VOLUNTARY ANNOUNCEMENT

SIGNING OF PIPELINE ANTI-CORROSION COATING

AND CONCRETE-WEIGHTED COATING SERVICE AGREEMENTS WITH CONSIDERATION OF APPROXIMATELY RMB221 MILLION IN AGGREGATE BY HILONG PIPELINE

This announcement is made by Hilong Holding Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

The board of directors (the "Board") of the Company is pleased to announce that Hilong Pipeline Engineering Technology Service Co., Ltd., an indirect wholly-owned subsidiary of the Company ("Hilong Pipeline"), has recently entered into a series of agreements with Zhejiang Petroleum & Chemical Co., Ltd. ("ZPC") for the provision of pipeline anti-corrosion coating and concrete-weighted coating services (collectively, the "Service Agreements"). As of the date of this announcement, the aggregate consideration under the Service Agreements is approximately RMB221 million.

ZPC is a petrochemical enterprise principally engaged in the refining of petroleum products, the production and sales of chemical and petroleum products, and the import and export of crude oil.

• For identification purposes only

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The Board believes that the entering into of the Service Agreements with a renowned producer of offshore crude oil shows the Group's strength in the pipeline anti-corrosion coating services area. It also demonstrates the Company's established recognition and relationships with large oil producers. The Board considers that the Service Agreements have further strengthened the pipeline technology and services segment of the Group and is also in line with the overall development prospects of the Group.

For and on behalf of the Board

Hilong Holding Limited

ZHANG Jun

Chairman

Hong Kong, 21 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. ZHANG Jun and Mr. WANG Tao (汪濤); the non-executive directors are Ms. ZHANG Shuman, Dr. YANG Qingli and Mr. CAO Hongbo; and the independent non-executive directors are Mr. WANG Tao (王濤), Mr. WONG Man Chung Francis and Mr. SHI Zheyan.

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