香港交易及结算所有限公司及香港联合交易所有限公司对本公告的内容概不负责，对其准确性或完 整性亦不发表任何声明，并明确表示，概不对因本公告全部或任何部分内容而产生或倚赖该等内容 而引致的任何损失承担任何责任。 YingdeGasesGroupCompanyLimited 盈德气体集团有限公司 （於开曼群岛注册成立的有限公司） （股份代号：02168） AirProducts函件 盈德气体集团有限公司（「本公司」）接获Air Products and Chemicals, Inc.日期为二 零一七年二月十四日的函件（「函件」），全文载於本公告附录。本公司现准备回覆函 件，并将适时作出进一步公告。 承董事会命 盈德气体集团有限公司 赵项题 董事长 香港，二零一七年二月十五日 於本公告日期，本公司执行董事为赵项题先生、何愿平先生和张云峰先生；本公司非执行董事为孙 忠国先生、TrevorRaymond Strutt先生和所耀堂先生；本公司独立非执行董事为郑富亚先生、王京 博士和冯科博士。 本公司全体董事（除孙忠国先生及TrevorRaymond Strutt先生外）愿就本公告所载资料在任何重大方 面之准确性个别及共同承担全部责任，并确认就彼等作出一切合理查询後所深知，本公告所发表意 见乃经审慎周详考虑後始行作出，且本公告并无遗漏任何其他事实，致使其任何内容在任何重大方 面产生误导成分。 �C1�C AirProductsandChemicals,Inc. 7201HamiltonBoulevard,Allentown,PA18195-1501 T610-481-6400 F610-709-5353 Emailghasems@airproducts.com SeifiGhasemi Chairman,PresidentandCEO 14February2017 TheBoard YingdeGasesGroupCompanyLimited Room3212-13,32/F. Tower2,TimesSquare,CausewayBay HongKong DearSirs, WerefertothecircularofYingdeGasesGroupCompanyLimited(the“Company”)dated February9,2017containing,amongotherthings,informationabouttheextraordinary generalmeetingoftheCompanyonMarch8,2017(the“Circular”),yourannouncement datedFebruary13,2017(the“Announcement”)andyourpressreleasedatedFebruary14, 2017(the“PressRelease”and,togetherwiththeCircularandtheAnnouncement,the “PublicDisclosures”)andourpriorlettersdatedDecember29,2016,January3,2017, January8,2017andJanuary16,2017regardingourproposaltoacquiretheCompany(the “ProposedTransaction”). WeweresurprisedbythestatementsthattheCompanyandMr.ZhaomadeinthePublic Disclosuresregardingtheprogressofourduediligenceprocess,theprovisionofdiligence materialsandthemeetingsbetweenus. Webelievethatthestatements,includingthose falselyattributedtoAirProducts,whichwewerenotprovidedwithanopportunitytoreview priortotheirrelease,donotaccuratelycharacterizethenatureofwhathastranspiredand areconfusingtoyourshareholders. Inparticular,yourPressReleasestatesthattheweandouradvisorsare“workingclosely andactivelyondiligence”andthatAirProducts“acknowledgedthesupportfromYingde Gases’scurrentmanagementinrespectoftheduediligence,andwaspleasedtobeinclose touchwithcurrentmanagementinrespectofthepotentialoffer”.YourAnnouncementalso references“additionalduediligencematerialstobemadeavailabletoAirProducts”. Not onlyhavewenotreceivedanyduediligencematerialstodate,buttheCompanyhasplaced obstaclesinthepathofourbeginningthediligenceprocess,includingasubstantialdelayin establishinganIndependentBoardCommitteetoevaluateourproposalandinretainingan independentfinancialadvisorforthecommittee.Infact,asofthedateofthisletter,the IndependentBoardCommitteeisyettoengageanindependentfinancialadvisororto contactus. YourPressReleasealsoinaccuratelyreferstoAirProducts’supporttocurrentmanagement. AirProductsinfacthasnottakenapositionregardingyourinternaldisputewiththeminority directorsaswehaveremainedfocusedonpursuinganacquisitionoftheCompany. Moreover,theCompanyisnowconditioningouraccesstoanydiligenceinformationonour signinganunreasonablestandstilldeedthatpreventsusfrommakingafurtherproposaland commentingeitheronAirProducts’andothersbidders’acquisitionproposals,oronwhat futuredirectiontheCompanyshouldtake.Webelieveyourdemandsregardingastandstill areunreasonableandillogicalwhenourproposalandthatofasecondbidderarealready publicandwhentheCompany,itsdirectorsandshareholders,otherbidders,andother investorsareallfreetomakepublicstatementsontheforegoing. Astandstillofthisscope, whichwenotedidnotincludeanycorrespondingobligationsontheCompanytocooperate withadiligenceprocessinanyway,wouldunfairlyburdenusascomparedtootherparties andreducetheabilityoftheCompany’sownshareholderstoconsiderfullythefactsrelating to,andthemeritsof,ouroffer. Thatbeingsaid,intheinterestofadvancingthediligence process,withinanhourofreceivingadraftstandstilldeed,ourlegalcounselsentSlaughter &Mayaproposedrevisedversionthatwebelieveisreasonableinlightofthecurrent circumstances. Tous,thisdoesnotseemlikewehaveachievedthe“consensusabouthow tocooperate”thatyoumentioninthePressRelease. Ithasnowbeenoversixweekssincewesubmittedournon-bindingletterofinterestto acquiretheCompany.WefirmlybelievetheProposedTransactionrepresentsacompelling opportunityfortheCompany,itsshareholders,itscustomersanditsemployees.Wevery muchwanttoproceedinafriendlyandconstructivemannerandaskthatyoupermitusto conductdiligenceassoonaspossible,consistentwiththepublicstatementsyoumade in thePublicDisclosures. However,weareconcernedthattheCompany’sslowpaceofengagementandthehurdles thathavebeenimposedbytheCompany,includingthestandstill,togetherwiththe statementsinthePublicDisclosures,mayreflectthefactthatthemajoritydirectorsofthe Company’sBoardhavenogenuinedesiretoengageinaconstructiveprocesswithusand donotintendtograntusappropriateandtimelydiligence,butaresimplytryingtouse inaccuratestatementstogainafavorablepositionwithshareholdersintheproxycontestat theCompany’supcomingextraordinarygeneralmeeting. Givenourconcernaboutthestatementsthathavebeenmadeandinordertocorrectthe publicrecord,wewillbepubliclyreleasingthisletter. Youractions,ifintendedtofrustrateconsiderationofourproposal,arenotinthebest interestofyourshareholders.Wehopeyouwilltakestepsimmediatelytoengagewith usinarealway. Yourssincerely, SeifiGhasemi Chairman,PresidentandChiefExecutiveOfficer AirProductsandChemicals,Inc. cc: SamanthaWong,YingdeGasesGroupCompanyLimited ColinBanfield,CitigroupGlobalMarketsAsiaLimited PaulA.Smith,CitigroupGlobalMarketsInc. RichardWhitney,LazardLtd. HongQiu,LazardAsia(HongKong)Limited PaulT.Schnell,Skadden,Arps,Slate,Meagher&FlomLLP FengYao,Broad&Bright RichardSpooner,MaplesandCalder