Wholly-owned Subsidiary of COAMC Invests in a HK$200 Million Convertible Bond to Be Issued by Blue Sky Power

HONG KONG–(BUSINESS WIRE)–Blue Sky Power Holdings Limited (or “the Company”, together with
its subsidiaries, the “Group”, HKSE stock code: 6828) is pleased to
announce that, the Company entered into a Subscription Agreement with
Talent Impact Enterprises Corp (“Investor”), an indirect wholly-owned
subsidiary of China Orient Asset Management Co. Limited (“COAMC”), in
relation to the issue of Convertible Bonds in an aggregate principal
amount of HK$200 million, with 4.8% interest rate per annum. COAMC is a
company established in the PRC whose ultimate beneficial owners are the
PRC Ministry of Finance and National Council for Social Security Fund.

According to the agreement, the conversion price is initially HK$0.67
per Conversion Share (subject to adjustment), a premium of approximately
8.06% over the closing price of HK$0.62 per Share as quoted on the Stock
Exchange on December 15, 2016. Assuming the conversion right is
exercised in full at the conversion price of HK$0.67, all Conversion
Shares to be issued to the Investor represent approximately 3.16% of the
issued share capital of the Company as enlarged by the issue and
allotment of the Conversion Shares. The Convertible Bonds will mature on
the date falling on the third anniversary of the Issue Date.

Mr. Tommy Cheng, Co-Chairman and Executive Director of the Group,
said, “The issue of Convertible Bonds signifies the confidence and
recognition of the Investor in the potential business growth of the
Company, and demonstrates their willingness to support the Company. It
also enables the Group to enhance its working capital and strengthen its
financial position for financing the expansion of its natural gas

Blue Sky Power Holdings Limited

Since 2014, Blue Sky Power Holdings Limited (HKSE stock code: 6828) has
focused on transforming itself into an integrated natural gas provider,
distributor and operator, with an emphasis on the mid- to downstream
side of the natural gas industry value chain. Our natural gas business
encompasses: (i) construction and operation of compressed natural gas
(“CNG”) and liquefied natural gas (“LNG”) refueling stations for
vehicles; (ii) construction of natural gas pipelines and operation of
city gas projects by providing piped gas; (iii) direct supply of LNG to
end-users; and (iv) trading and distribution of CNG and LNG.

Blue Sky Power has adopted its own “One Belt, One Road Expansion
Strategy” to expand along key coastal economic areas and north-western
provinces that have rich gas source. The Group has business presence in
several provinces in the PRC, including Liaoning, Shandong, Anhui,
Zhejiang, Hubei, Sichuan and Hainan.


Stimulus Investor Relations Ltd.
Ms. Hill Ho, +852 3159 2944
Jessica Choi, +852 3159 2916