In this paper, we present a scatterer with a multilayer annular nested composite structure. The photonic band gaps (PBGs) characteristics of the two-dimensional photonic crystals and the slow light features of the W1 waveguide are studied by the plane-wave expansion method. The influences of the number and the thicknesses of hollow annular dielectrics on the PBGs are analyzed. Meanwhile, the impact of the refractive index of each dielectric column is also taken into account. Herein, the scatterers are placed in the square and triangular lattices, and the PBGs traits of the TE and the TM modes in different lattice arrangements are fully discussed. With five layers of dielectric, we get a wide range of complete PBGs. When the thickness and refractive index of the dielectric layer are constant, increasing the number of dielectric layers does not always contribute to boosting the PBG scope. With the aggrandizement in the number of dielectric layers, the PBGs of the TM mode are larger and larger, but the PBGs of the TE mode always aggrandize first and then reduce, or even die down. As the thickness of the dielectric layer is altered, the results depict that the PBGs appertain to the TE mode when the thickness is small, while the TM mode and absolute PBGs tend to occur with the condition that the thickness of the dielectric column is large. Besides, the width of the PBGs always aggrandizes to the accession in the refractive index, and when the refractive index adds to a certain value, the PBGs width degrades to the augment in the refractive index. Finally, the slow light phenomenon in the W1 waveguide with a diverse number of ring layers is analyzed by introducing line defects into the structure. In the GaAs waveguide, we obtain group velocities of ±0.23c.