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.

Strong Petrochemical Holdings Limited

海峽石油化工控股有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 852)

SUPPLEMENTAL ANNOUNCEMENT

COMPLETION OF

DISCLOSEABLE TRANSACTION IN RELATION TO ACQUISITION OF THE ENTIRE SHARE CAPITAL OF COPOWER PROPERTIES INVESTMENTS COMPANY LIMITED AND

DISCLOSEABLE TRANSACTION IN RELATION TO

PROVISION OF FINANCIAL ASSISTANCE TO

AN INDEPENDENT THIRD PARTY

Reference is made to the announcements (the ''Announcements'') of Strong Petrochemical Holdings Limited (the ''Company'') dated 5 March 2019, 3 May 2019, 6 May 2019, 13 March 2020, 29 June 2020 and 27 August 2020 relating to completion of discloseable transaction in relation to the Acquisition and discloseable transaction in relation to provision of financial assistance to an independent third party. Unless the context otherwise requires, capitalized terms in this announcement shall have the same meanings as defined in the Announcements.

FURTHER INFORMATION ON THE SAFEGUARDS OF THE COMPANY ON

THE PROVISION OF THE PROPERTIES AS SECURITY FOR THE LOAN

FACILITY

As settlement to the consideration for the Acquisition, partial benefit and receivables under the Contract (the "Receivables") were assigned to the Vendor upon completion of the Acquisition. The Receivables are secured by certain shares in a non-listed company which is engaged in oil exploration in the PRC, while this security remains effective as at

the date of this announcement. In addition, under the terms of the indemnity agreement executed by the Vendor, the Vendor agrees and undertakes to keep the Company fully indemnified against any actions, claims, demands, proceedings, losses and liabilities arising from the event that the Vendor fails to repay the outstanding balance of the Loan Facility upon maturity.

The Company is currently in negotiation with the Lender on the repayment of the Loan Facility. The Vendor is restricted to remortgage the Loan Facility and the expected end date of the financial assistance is the end of September 2020.

FURTHER INFORMATION OF THE BORROWER

The principal business activity of the Borrower is investment holding and exploration and development of oil and gas.

FURTHER INFORMATION OF THE ULTIMATE BENEFICIAL OWNERS OF

THE BORROWER AND THE LENDER

To the best of the knowledge, information and belief of the Directors having made all reasonable enquiry, the ultimate beneficial owners of the Borrower and the Lender are third parties independent of the Company and connected persons of the Company.

By order of the Board

STRONG PETROCHEMICAL HOLDINGS LIMITED

Wang Jian Sheng

Chairman

Hong Kong, 15 September 2020

As at the date of this announcement, the Board comprises two executive directors and three independent non-executive directors. The executive directors are Mr. Wang Jian Sheng and Mr. Yao Guoliang. The independent non-executive directors are Ms. Cheung Siu Wan, Dr. Chan Yee Kwong and Mr. Deng Heng.

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Strong Petrochemical Holdings Ltd. published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2020 09:24:02 UTC