Shenyang Public Utility : FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO MAJOR TRANSACTION RELATING TO ACQUISITION OF THE PROPERTIES WITH ADVANCE TO AN ENTITY

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Shenyang Public Utility Holdings Company Limited

(a joint stock limited company incorporated in the People's Republic of China)

(Stock code: 747)

FURTHER DELAY IN DESPATCH OF CIRCULAR

IN RELATION TO MAJOR TRANSACTION RELATING TO ACQUISITION OF THE PROPERTIES

WITH ADVANCE TO AN ENTITY

References are made to the announcement (the "Announcement") of Shenyang Public Utility Holdings Company Limited (the "Company") dated 24 August 2020 in relation to the Acquisition which constitutes a major transaction for the Company under the Listing Rules and the announcements of the Company dated 14 September 2020, 9 October 2020, 23 October 2020, 30 November 2020, 30 December 2020 and 25 January 2021 in relation to the delay in despatch of the Circular (as defined below). Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

As stated in the announcement of the Company dated 25 January 2021, a circular containing, amongst others, further details of (i) the Second Supplemental Agreement and the transactions contemplated thereunder; (ii) the valuation report of the Properties; and (iii) a notice convening the EGM (the "Circular") will be despatched to the Shareholders in accordance with the requirements of the Listing Rules on or before 25 February 2021. As additional time is required to finalise certain information to be included in the Circular, the despatch date of the Circular will be postponed to 26 February 2021.

The Acquisition is subject to the fulfilment of the conditions precedent as set out in the Second Supplemental Agreement and the Completion thereof may or may not proceed. Shareholders and potential investors are reminded to exercise caution when dealing in the securities of the Company.

By Order of the Board

Shenyang Public Utility Holdings Company Limited

Zhang Jing Ming

Chairman

Shenyang, the PRC, 25 February 2021

As at the date of this announcement, the executive Directors are Mr. Zhang Jing Ming, Mr. Leng Xiao Rong and Mr. Chau Ting Yan, the non-executive Directors are Mr. Yin Zong Chen and Mr. Ye Zhi E and the independent non-executive Directors are Mr. Luo Zhuo Qiang, Mr. Guo Lu Jin and Ms. Gao Hong Hong.