Xinte Energy : ANNOUNCEMENT IN RELATION TO THE ACCEPTANCE BY THE CSRC OF THE APPLICATION MATERIALS FOR THE ISSUANCE OF H SHARES

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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 IN RELATION TO THE ACCEPTANCE BY

THE CSRC OF THE APPLICATION MATERIALS

FOR THE ISSUANCE OF H SHARES

This announcement is made by Xinte Energy Co., Ltd. (the "Company") on a voluntary basis.

Reference is made to the general mandate (the "General Mandate") granted to the board of directors of the Company (the "Board") by shareholders of the Company (the "Shareholders") at the annual general meeting of the Company held on 16 June 2020 (the "2019 AGM") to issue additional H shares ("H Shares") and domestic shares ("Domestic Shares") of the Company.

The Company has recently submitted the application materials in relation to the issuance of additional H Shares pursuant to the General Mandate and the listing of such shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Issuance of

1. Shares") to China Securities Regulatory Commission (the "CSRC"). The proposed number of the H Shares to be issued under the Issuance of H Shares will not exceed 20% of the total number of the H Shares in issue on the date of the 2019 AGM, i.e. 62,695,126 H Shares. If the Issuance of H Shares is not completed before the annual general meeting of the Company to be convened on 16 June 2021 (the "2020 AGM"), it can be proceeded pursuant to the resolution to be considered at the 2020 AGM to renew the General Mandate. The actual number of H Shares to be issued will be determined by the Company and the placing agent(s) according to subsequent market conditions and the capital requirement(s) of the Company. Upon the approval of CSRC, the Issuance of H Shares is planned to be made in one or multiple tranche(s) by the Company and the placing agent(s) within the approved amount and the valid period according to subsequent market conditions and relevant rules and regulations. As at the date of this announcement, the Company has not entered into any placing agreement in relation to the Issuance of H Shares.

The Company received the CSRC Acceptance Notice of the Application for Administrative Permission (Acceptance No. 211065) 《( 中國證監會行政許可申請受理單》(受理序 號：211065)) issued by the CSRC on 10 May 2021. The CSRC has reviewed the application materials of the Issuance of H Shares submitted by the Company and considered it was complete and decided to accept the application for further processing.

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The entire net proceeds from the Issuance of H Shares will be used for the 100,000-ton-per- annum high-purity polysilicon green energy circular economy construction project in Tumed

Right Banner, Baotou City, Inner Mongolia Autonomous Region, PRC through capital injection to Inner Mongolia Xinte Silicon Materials Co., Ltd.* (內蒙古新特硅材料有限公

司), a wholly-owned subsidiary of the Company.

A circular containing, among other things, further information on the resolution on the renewal of General Mandate, together with the notice of the 2020 AGM will be dispatched to the Shareholders in due course.

Reference is also made to the announcement of the Company dated 29 April 2021 in respect of, among other things, the issuance of Domestic Shares under the specific mandate (the "Issuance of Domestic Shares"). Shareholders and potential investors of the Company should note that the Issuance of H Shares is not conditional on the completion of the Issuance of Domestic Shares. The Issuance of H Share and/or Issuance of Domestic Shares is still subject to the approval from relevant government and regulatory authorities including the CSRC, the Stock Exchange, and thus exposing it to uncertainties.

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

10 May 2021

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 and Ms. Guo Junxiang as non-executive directors; and Mr. Qin Haiyan, Mr. Yang Deren and Mr. Wong, Yui Keung Marcellus as independent non-executive directors.

*for identification purpose only

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