Decision on issuing warning letter to Shaanxi Chang 'an Air Travel Co., Ltd.

Shaanxi Changan Aviation Tourism Co., Ltd.:

On January 26, 218, Haiyue Energy Group Co., Ltd. (hereinafter referred to as "Haiyue Energy" or the company) announced its plan to increase its shareholding, saying that your company, as a concerted action of the controlling shareholder, intends to increase its shareholding through the secondary market within six months from January 29, 218, and the amount of increase is not less than % of the current total share capital of the company. On July 28, 218, Haiyue Energy announced that on July 26, your company increased its holdings of 213,1 shares in the secondary market through centralized bidding transactions, accounting for .458% of the company's total share capital, reaching 22.88% of the lower limit of the planned holdings. At the same time, it is planned to extend the planned holdings for six months, that is, it will be completed before January 28, 219. On January 3, 219, Haiyue Energy announced that the implementation period of the increase plan expired, but your company decided not to increase its shares.

As a concerted action of Haiyue Energy's controlling shareholder, your company's above actions constitute overdue commitments. According to Article 6 of the Supervision Guideline No.4 on Listed Companies-Commitments and Performance of Actual Controllers, Shareholders, Related Parties, Buyers and Listed Companies (CSRC Announcement No.55 [213]), our bureau decided to give you a warning. Your company should fully learn lessons, strengthen the study of relevant laws and regulations, earnestly fulfill its commitments, and protect the rights and interests of listed companies and investors. Your company should submit a written rectification report to our bureau before September 2 to prevent such violations from happening again in the future.

if you are not satisfied with this supervision and management measure, you can apply for administrative reconsideration to China Securities Regulatory Commission within 6 days from the date of receiving this decision, or you can bring a lawsuit to the people's court with jurisdiction within 6 months from the date of receiving this decision. During the period of reconsideration and litigation, the above supervision and management measures shall not be suspended.

Zhejiang Securities Regulatory Bureau

September 6, 219

Source: CSRC website.