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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1083)

ANNOUNCEMENT

MADE PURSUANT TO RULE 13.51B(2) OF THE LISTING RULES

This announcement is made by Towngas China Company Limited (the "Company") pursuant to Rule 13.51B(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The Company has been notified by Mr. Brian David Li Man-bun ("Mr. Li"), an independent non-executive director of the Company, that, on 17 September 2020, the Securities and Futures Commission ("SFC") issued a press release in connection with its enforcement action taken against The Bank of East Asia, Limited ("BEA") in respect of regulatory breaches related to the manner in which BEA held securities in accounts maintained at two external custodians (the "Press Release").

Although Mr. Li is an Executive Director of BEA at the time of the publication of the Press Release, he has confirmed to the Company that he was not the subject of the SFC's enforcement action which, according to the Press Release, only concerns BEA, nor did he have any involvement in the regulatory breaches to which such enforcement action relates.

By Order of the Board

Towngas China Company Limited

John Ho Hon-ming

Executive Director and Company Secretary

Hong Kong, 18 September 2020

At the date of this announcement, the Board comprises:

Executive Directors:

Independent Non-Executive Directors:

Alfred Chan Wing-kin(Chairman)

Moses Cheng Mo-chi

Peter Wong Wai-yee (Chief Executive Officer)

Brian David Li Man-bun

John Ho Hon-ming (Company Secretary)

James Kwan Yuk-choi

Martin Kee Wai-ngai (Chief Operating Officer)

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Towngas China Company Ltd. published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 09:59:03 UTC