Xinte Energy : ANNOUNCEMENT - PROFIT WARNING FOR THE FIRST THREE QUARTERS

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XINTE ENERGY CO., LTD.

新特能源股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 1799)

ANNOUNCEMENT

PROFIT WARNING FOR THE FIRST THREE QUARTERS

This announcement is made by Xinte Energy Co., Ltd. (the "Company", together with its subsidiaries, the "Group") pursuant to the Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors (the "Board") of the Company hereby notifies the shareholders and potential investors of the Company, based on the preliminary assessment of the unaudited consolidated management accounts for the nine months ended 30 September 2019 (the "First Three Quarters of 2019") and the information currently available, the Group is expected to record an unaudited profit attributable to owners of the Company of between RMB330 million and RMB290 million for the First Three Quarters of 2019, and the profit attributable to owners of the Company for the corresponding period in 2018 was approximately RMB910.86 million hence there is a drop of approximately 64% to 68%.

The decrease in profit attributable to owners of the Company was mainly due to the significant fall of the sales price of polysilicon. The average sales price of polysilicon in the First Three Quarters of 2019 was approximately RMB60,500/ton (tax exclusive), representing a drop of approximately 40% as compared with approximately RMB100,900/ ton (tax exclusive) for the corresponding period in 2018.

The information contained in this announcement should not be deemed as a basis to predict the Group's financial performance for the whole year of 2019.

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The information contained in this announcement in relation to the First Three Quarters of 2019 is based on a preliminary assessment by the management of the Company with reference to the information currently available to the Company. Such information has not been audited or reviewed by the independent auditors and audit committee of the Company. The unaudited consolidated financial results of the Company for the First Three Quarters of 2019 to be published by the end of October 2019 may differ from the information contained in this announcement.

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

By order of the Board

Xinte Energy Co., Ltd.

Zhang Jianxin

Chairman

Xinjiang, the PRC

21 October 2019

As at the date of this announcement, the Board of the Company consists of Mr. Zhang Jianxin, Mr. Yin Bo and Mr. Xia Jinjing as executive directors; Mr. Zhang Xin, Ms. Guo Junxiang and Mr. Wang Shi as non-executive directors; Mr. Qin Haiyan, Mr. Yang Deren and Mr. Wong, Yui Keung Marcellus as independent non-executive directors.

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