CHYY Development Group Limited — Declaration of Voting Results & Voting Rights Announcements 2021

Feb 19, 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 [39 x 40] intentionally omitted <==

==> picture [345 x 41] intentionally omitted <==

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8128)

POLL RESULT OF THE EXTRAORDINARY GENERAL MEETING HELD ON 19 FEBRUARY 2021

At the extraordinary general meeting of China Geothermal Industry Development Group Limited (the “ Company ”) held on Friday, 19 February 2021 (the “ EGM ”), the proposed resolution set out in the notice of the EGM dated 26 January 2021 (the “ Notice of EGM ”) was taken by way of poll. Terms used herein shall have the same meaning as those defined in the circular of the Company dated 26 January 2021 (the “ Circular ”) and the Notice of EGM.

The Company’s branch share registrar, Computershare Hong Kong Investor Services Limited, was appointed as the scrutineer at the EGM for the purpose of vote-taking. The poll result in respect of the resolution proposed at the EGM are as follows:

		Number of votes cast and approximate	Number of votes cast and approximate
Ordinary Resolution		**percentage of total number of **	votes cast
		For	Against
, authorize and ratify the entering into of	1,244,656,084	100%0		0%

To confirm, approve, authorize and ratify the entering into of the equity transfer agreement dated 13 November 2020 (the “ Equity Transfer Agreement ”) and the supplemental equity transfer agreement dated 23 December 2020 (the “ Supplemental Equity Transfer Agreement ”) and the transactions contemplated thereunder and the implementation thereof; and to authorize any director of the Company to sign and execute all such other documents, instruments and agreements and to do all such acts or things and to take all such steps as the director in his/her sole opinion and absolute discretion may consider necessary, appropriate, desirable or expedient to give effect to the Equity Transfer Agreement, the Supplemental Equity Transfer Agreement and the transactions contemplated thereunder.

• 1 -

As more than 50% of the votes were cast in favour of the abovementioned resolution, the abovementioned resolution was duly passed as an ordinary resolution of the Company.

As at the date of the EGM, the total number of issued ordinary shares of the Company was 4,526,925,163 Shares. As disclosed in the Circular, CECEP (HK) and its associates, holding 1,190,000,000 Shares in aggregate, representing approximately 26.29% of the issued share capital of the Company as at the date of the EGM, had material interests in the Disposal and were required to abstain and did abstain from voting at the EGM in respect of the abovementioned resolution set out in the Notice of EGM. Accordingly, the total number of Shares entitling the Shareholders to attend and vote for or against the abovementioned resolution at the EGM was 3,336,925,163 Shares. There were no Shares entitling the Shareholders to vote only against the abovementioned resolution at the EGM.

By order of the Board China Geothermal Industry Development Group Limited Wong Lai Yuk

Company Secretary

Hong Kong, 19 February 2021

As at the date of this announcement, the Board comprises Mr. Xu Shengheng, Ms. Chan Wai Kay, Katherine, Ms. Wang Yan, Mr. Wang Manquan, Ms. Hao Xia and Mr. Dai Qi as executive Directors, Mr. Yang Wei, Mr. Zhang Yiying and Mr. Wang Michael Zhiyu (Ms. Liu Ening being his alternate Director) as non-executive Directors, Mr. Jia Wenzeng, Mr. Wu Desheng, Mr. Wu Qiang, Mr. Guo Qingui and Mr. Guan Chenghua 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 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 remain on the “Latest Company Announcements” page of the GEM website at www.hkgem.com for at least 7 days from the date of its publication and on the website of the Company at www.cgsenergy.com.hk.

• 2 -