China Information Technology Development Limited — Capital/Financing Update 2021

Feb 24, 2021

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.

==> picture [112 x 58] intentionally omitted <==

==> picture [271 x 38] intentionally omitted <==

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

UPDATE ON THE CAPITAL REORGANISATION AND REVISED EXPECTED TIMETABLE

Reference is made to the announcement (the “ Announcement ”) of China Information Technology Development Limited (the “ Company ”) dated 10 December 2020, the circular of the Company (the “ Circular ”) dated 23 December 2020 and the poll results announcement of the extraordinary general meeting dated 15 January 2021 in relation to, among others, the Capital Reorganisation. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular.

UPDATE ON THE CAPITAL REORGANISATION AND THE REVISED EXPECTED TIMETABLE

The Board wishes to announce that pursuant to the directions given by the Court, the petition hearing for confirmation of the Capital Reduction and the Share Sub-division will be held on 23 March 2021 (Cayman Islands time) at the Court.

Accordingly set out below is the revised expected timetable for the Capital Reduction and the Share Sub-division and the relevant trading arrangements, which is subject to the satisfaction of certain conditions set out in the paragraph headed “Letter from the Board — Proposed Capital Reorganisation — Conditions of the Capital Reorganisation” in the Circular. Unless otherwise specified, all times stated in this announcement refer to Hong Kong times.

– 1 –

Event(s)

Time and date

Effective date and time of the Capital Reduction and the Before 9:00 a.m. on Share Sub-division Thursday, 25 March 2021 Commencement of dealing in the New Shares 9:00 a.m. on

Commencement of dealing in the New Shares 9:00 a.m. on Thursday, 25 March 2021 First day of free exchange of existing share certificates for Thursday, 25 March 2021 the Consolidated Shares into new share certificates for New Shares

Last day of free exchange of existing share certificates for Thursday, 29 April 2021 the Consolidated Shares into new share certificates for New Shares

Further announcement(s) will be made by the Company to inform the Shareholders on the outcome of the Court hearing as and when appropriate.

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

Hong Kong, 24 February 2021

As at the date of this announcement, the Board comprises executive Directors namely Mr. Wong King Shiu, Daniel (Chairman and Chief Executive Officer) and Mr. Wong Kui Shing, Danny; independent non-executive Directors namely Mr. Hung Hing Man, Mr. Wong Hoi Kuen, and Dr. Chen Shengrong.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules 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 in this announcement misleading.

This announcement will remain on the “Latest Listed Company Announcements” page of the GEM website at www.hkgem.com for at least 7 days from the date of its posting and on the Company’s website at www.citd.com.hk.

– 2 –