China Information Technology Development Limited — Capital/Financing Update 2021

Jul 15, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement and make no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of China Information Technology Development Limited.

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(Incorporated in the Cayman Islands with limited liability) (Stock Code: 8178)

COMPLETION OF DISCLOSEABLE TRANSACTION AND SHARE TRANSACTION ACQUISITION OF 51% EQUITY INTEREST IN THE TARGET COMPANY INVOLVING ISSUE OF CONSIDERATION SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of China Information Technology Development Limited (the “ Company ”) dated 12 May 2021 in relation to the Acquisition (the “ Announcement ”). Capitalized terms used herein shall have the same meanings as those defined in the Announcement unless the context otherwise requires.

The Company is pleased to announce that all of the conditions under the Agreement have been fulfilled and the completion of the Acquisition took place on 15 July 2021 in accordance with the terms and conditions of the Agreement. Upon Completion, the Company indirectly owns 51% equity interests in the Target Company and the financial results of the Target Company will be consolidated into the financial statements of the Group.

The Company allotted and issued 7,000,000 Consideration Shares to Vendor. Immediately following Completion, the shareholding structure of the Company is set out as follows:

Name of ShareholderMr. Zhang RongCorporate Advisory Limited(2)Mr. Tang KeungValuable Fortune Limited(3)Discover Wide Investments Limited(4)Vendor(5)Public ShareholdersTotal	Immediately upon CompletionNo. of SharesApproximate %of number ofShares in issue(1)(%)35,909,33312.51%6,912,0002.41%23,356,0008.13%20,000,0006.97%16,832,1435.86%7,000,0002.44%177,131,85361.68%287,141,329100.00%

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Notes:

• (1) Assuming no change in total issued share capital of the Company other than allotment and issue of all Consideration Shares.

• (2) The 6,912,000 Shares are held by Corporate Advisory Limited (“ Corporate Advisory ”), which is wholly-owned by Mr. Zhang Rong (“ Mr. Zhang ”). Pursuant to the Division 7 and 8 of Part XV of the SFO, Mr. Zhang is deemed to have an interest in all Shares in which Corporate Advisory has, or deemed to have an interest.

• (3) The 20,000,000 Shares are held by the Valuable Fortune Limited, which is wholly-owned by Mr. Lee Yat Lung Andrew (“ Mr. Lee ”). Pursuant to the Division 7 and 8 of Part XV of the SFO, Mr. Lee is deemed to have an interest in all Shares in which Valuable Fortune Limited has, or deemed to have, an interest.

• (4) The 16,832,143 Shares are held by Discover Wide Investments Limited (“ Discover Wide ”), which is wholly-owned by Mr. Wong Kui Shing, Danny (“ Mr. Danny Wong ”). Pursuant to the Division 7 and 8 of Part XV of the SFO, Mr. Danny Wong is deemed to have an interest in all Shares in which Discover Wide has, or deemed to have an interest.

• (5) The 7,000,000 Shares are held by the Vendor, Unity Victory Limited which is wholly-owned by Mr. Chan Chun Ying (“ Mr. Chan ”). Pursuant to the Division 7 and 8 of Part XV of the SFO, Mr. Chan is deemed to have an interest in all Shares in which Unity Victory Limited has, or deemed to have, an interest.

By order of the Board China Information Technology Development Limited Wong King Shiu, Daniel Chairman and Chief Executive Officer

Hong Kong, 15 July 2021

As of the date of this announcement, the Board comprises Mr. Wong King Shiu, Daniel (Chairman and Chief Executive Officer) and Mr. Chang Ki Sum Clark as executive Directors; Mr. Hung Hing Man, Mr. Wong Hoi Kuen and Dr. Chen Shengrong as independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM of The Stock Exchange of Hong Kong Limited 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.citd.com.hk and will remain on the “Latest Listed Company Information” 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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