China Information Technology Development Limited — Capital/Financing Update 2016

May 9, 2016

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.

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(incorporated in the Cayman Islands with limited liability)

(Stock Code: 8178)

COMPLETION OF PLACING OF NEW SHARES UNDER SPECIFIC MANDATE

Reference is made to the announcements of China Information Technology Development Limited (the “Company”) dated 8 December 2015, 31 December 2015, 8 January 2016, 29 January 2016 and 2 March 2016, the circular of the Company dated 18 March 2016 (the “Circular”) and the poll results announcement of the Company dated 7 April 2016 in relation to the Placing. Terms used but not defined in this announcement shall have the same meanings as defined in the Circular.

COMPLETION OF THE PLACING

The Board hereby announces that all the conditions precedent to the completion of the Placing as set out in the Circular have been fulfilled and the Placing has been completed on 9 May 2016. An aggregate of 1,830,792,000 Placing Shares, which represent approximately 32.05% of the issued share capital of the Company as at the date of this announcement immediately after Completion, have been successfully placed to not less than six Placees who and whose ultimate beneficial owners are Independent Third Parties, at the Placing Price of HK$0.13 per Placing Share. The net proceeds from the Placing after deducting the placing fee and other related expenses payable by the Company amount to approximately HK$230 million.

To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, each of the Placees and its (their) ultimate beneficial owner(s) is Independent Third Party(ies).

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EFFECTS ON SHAREHOLDING STRUCTURE OF THE COMPANY

The table below sets out the changes to the shareholding structure of the Company as a result of Completion:

Shareholders Discover Wide Investments Limited (Note 1) Public Shareholders Placee(s) and other public shareholders Total	Immediately before completion of the Placing Number of Shares Approximate % 388,131,449 10.00 3,493,228,459 90.00 3,881,359,908 100.00	Immediately upon completion of the Placing Number of Shares Approximate % 388,131,449 6.79 5,324,020,459 93.21 5,712,151,908 100.00

Note:

1. Discover Wide Investments Limited is a company incorporated in the British Virgin Islands and is wholly owned by Mr. Wong Kui Shing, Danny, who is the Chairman, Chief Executive Officer and an executive Director of the Company.

By order of the Board China Information Technology Development Limited Tse Chi Wai

Executive Director and Company Secretary

Hong Kong, 9 May 2016

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As at the date of this announcement, the Board comprises Mr. Wong Kui Shing, Danny (Chairman and Chief Executive Officer), Mr. Tse Chi Wai, Ms. Wu Jingjing, Mr. Takashi Togo and Mr. Wong Chi Yung as executive Directors; Mr. Hung Hing Man, Mr. May Tai Keung, Nicholas and Dr. Chen Shengrong as independent non-executive Directors.

This announcement, for which the Directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market (the “GEM”) of the Stock Exchange for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will be available on the Company’s website http://www.chinainfotech.com.hk and will remain on the “Latest Company Announcement” page on the GEM website at http://www.hkgem.com for at least 7 days from the date of its posting.

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