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U BANQUET GROUP HOLDING LIMITED 譽宴集團控股有限公司 (incorporated in the Cayman Islands with limited liability) (Stock Code: 1483)

VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE

This announcement is made by U Banquet Group Holding Limited (the “Company” and together with its subsidiaries, the “Group”) on a voluntary basis to keep the shareholders and potential investors of the Company informed of the latest business development of the Group.

The board of directors of the Company (the “Board”) is pleased to announce that the Urban and Rural Solid Waste Treatment PPP Project（內江城鄉生活垃圾處理PPP項目） (the “Neijiang Project”), the bid of which has been won by Aerospace Sanchuang Environmental Technoloby CO., Ltd (“Aerospace Sanchuang”), a subsidiary of the Company, has formally entered into operation phase since July 2020.

The operation period of the Neijiang Project is 22 years. The operation areas include Neijiang Economic Development Zone, Dongxing , and Weiyuan County, and its scope of services covers 79 towns, 1,394 villages and 159 communities with a population of approximately 2.75 million. The daily average volume of household garbage collected and transported is 910 tons. The annual operation service fee income to be generated from the Neijiang Project is expected to be not less than RMB68 million with total service fee incomes during the operation period of not less than RMB1,500 million.

1 ABOUT AEROSPACE SANCHUANG

Aerospace Sanchuang is mainly engaged in environmental maintenance business, and its scope of services mainly includes (i) janitorial services for public areas in cities; (ii) classification management of solid waste, bulky garbage and food waste; and (iii) facility maintenance management of refuse collection points. The environmental maintenance service business of Aerospace Sanchuang is based in Chengdu, the PRC, and is penetrating into other regions in the PRC such as Xinjiang Autonomous Region, Hebei Province and Inner Mongolia Autonomous Region.

From 1 April 2020 to 30 June 2020, Aerospace Sanchuang had been granted service contracts amounting to approximately RMB151 million (including contracts entered into and those won and to be signed). As of 30 June 2020, Aerospace Sanchuang had a total of 23 environmental maintenance service contracts in progress (excluding the Neijiang Project) with the total contract amount for the remaining contract term of approximately RMB650 million.

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

By Order of the Board U Banquet Group Holding Limited Sang Kangqiao Chairman and Executive Director

Hong Kong, 13 July 2020

As at the date of this announcement, the Executive Directors are Mr. Sang Kangqiao, Mr. Xu Wenze and Mr. Cui Peng; and the Independent Non-executive Directors are Mr. Xu Zhihao, Mr. Lam Ka Tak and Mr. Wong Sincere.

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