CHYY Development Group Limited — Report Publication Announcement 2021

Jan 18, 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.

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8128)

FURTHER DELAY IN DESPATCH OF CIRCULAR

References are made to (i) the announcements of China Geothermal Industry Development Group Limited (the “ Company ”) dated 13 November 2020, 19 November 2020 and 23 December 2020 in respect of the disposal of 4.99965% equity interest of Beijing Life Insurance Co., Ltd. (the “ Disposal ”); and (ii) the announcements of the Company dated 4 December 2020 and 28 December 2020 in relation to the delay in despatch of circular.

As disclosed in the announcement dated 28 December 2020, the circular containing, amongst other things, details of the Disposal (the “ Circular ”) was expected to be despatched to the Shareholders on or before 18 January 2021. However, as additional time is required to prepare and finalise certain information in the Circular, the Board expects the date of despatch of the Circular and the notice of the general meeting to the shareholders of the Company will be delayed to a date falling on or before 8 February 2021.

By order of the Board China Geothermal Industry Development Group Limited Xu Shengheng Joint Chairman & Executive Director

Hong Kong, 18 January 2021

As at the date of this announcement, the Board comprises Mr. Xu Shengheng, Ms. Wang Yan, Ms. Chan Wai Kay, Katherine, 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,

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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.

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