About CONCH VENTURE Company

1. Company establishment and listing On 2013/6/24, China Hailuo Venture Holdings Co., Ltd. was established. On 2013/12/19, Conch Venture was listed on the main board of the Hong Kong Stock Exchange (stock code: 00586.HK). The issuer is a large enterprise group that provides a “package” solution for energy saving and environmental protection. The industry involves garbage disposal, new energy, new building materials, port logistics, etc. The business covers urban and rural garbage disposal, black and smelly water treatment, lithium-ion battery positive and anode materials, new building materials, port trade, etc. 2. The subsidiary completed the shareholding system reform In January 2022, Anhui Haichuang Green Energy Environmental Protection Group Co., Ltd., the main entity of the company's garbage disposal sector, officially completed the shareholding system reform. 3. Allocation and issuance of new shares On June 28, 2021, Conch Venture completed the acquisition of minority shares in its subsidiaries Xi'an Yaobai Environmental Technology Engineering Co., Ltd. (hereinafter referred to as “Yao Bai Environmental Protection”) and Chongqing Haichuang Environmental Technology Co., Ltd. (hereinafter referred to as “Chongqing Haichuang”) through the distribution and issuance of new Hailuo Venture shares. 4. The subsidiary is listed on the Hong Kong Stock Exchange On September 28, 2021, China Hailuo Environmental Holdings Co., Ltd. (hereinafter referred to as “Conch Environmental Protection”), a wholly-owned subsidiary of Conch Venture mainly engaged in the solid waste disposal business sector, officially submitted a listing application form to the Stock Exchange for the listing and approval of Hailuo Environmental Co., Ltd. on the main board of the Stock Exchange. In March 2022, Conch Environmental was officially listed on the Hong Kong Stock Exchange.