Tianjin Port Development : SUSPECTED EMBEZZLEMENT OF FUNDS

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03382)

SUSPECTED EMBEZZLEMENT OF FUNDS

This announcement is made by Tianjin Port Development Holdings Limited (the "Company", together with its subsidiaries as the "Group") pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The board of directors (the "Board") of the Company hereby informed the shareholders of the Company (the "Shareholders") and potential investors that according to the information currently available, a finance officer (the "Finance Officer") of 天津港焦炭碼頭有限公司 (Tianjin Port Coke Terminals Co., Ltd.*) (a wholly-owned subsidiary of the Group) is suspected to have embezzled funds of the aforesaid subsidiary totalling approximately RMB153.9 million (the "Incident"). The provincial supervision organ has commenced investigation against the Finance Officer and retained him in custody in this connection. The investigation is ongoing. The Company is proactively cooperating with the supervision organ to investigate and recover the embezzled funds.

Based on the preliminary internal investigation, the other funds of the Group are safe. The Board is of the view that the day-to-day operation of the Group has not been hindered by the Incident. Based on information currently available, it is expected the Incident will affect the financial data of the Group and the specific amount is not yet confirmed.

The Board has established an investigation committee to follow up on the Incident and such committee will engage an independent forensic expert to perform an independent review and/or investigation on the Incident and other related matters.

This announcement is prepared based on information currently available to the Company only. The Board will continue to inquire the investigation progress of the Incident. As at the date of this announcement, the overall business operations of the Group are normal.

The Company will make further announcement(s) to update the Shareholders and potential investors as and when appropriate.

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Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Tianjin Port Development Holdings Limited

Chu Bin

Chairman

Hong Kong, 12 February 2020

As at the date of this announcement, the Board comprises Mr. Chu Bin, Mr. Luo Xunjie, Mr. Sun Bin, Mr. Wang Junzhong and Ms. Shi Jing as executive directors; Professor Japhet Sebastian Law, Mr. Cheng Chi Pang, Leslie and Mr. Zhang Weidong as independent non-executive directors.

* For identification purposes only

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