Comtec Solar Systems Group Limited — Capital/Financing Update 2016

May 3, 2016

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卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited (Incorporated in the Cayman Islands with limited liability) (Stock code: 712)

SUBSCRIPTIONS OF NEW SHARES UNDER SPECIFIC MANDATES TERMINATION OF SUBSCRIPTION AGREEMENTS

Reference is made to the announcements of the Comtec Solar Systems Group Limited (‘‘Company’’) dated 11 January 2016, 4 February 2016 and 26 February 2016 and the circular of the Company dated 11 February 2016 (‘‘Circular’’) in relation to the proposed subscriptions of new shares under specific mandates. Unless otherwise defined, capitalized terms used in this announcement shall have the same meaning defined in the Circular.

The Board announces that, despite all conditions precedents under the Li Subscription Agreement have been fulfilled, Mr. Li is unable to perform his completion obligations. On 29 April 2016, the Company and Mr. Li entered into a termination deed to terminate the proposed subscription of the Subscription Shares by Mr. Li. As a result of such termination, it is expected that GF Holding would hold 30% or more of the Company’s issued share capital immediately after the completion of the GF Holding Subscription Agreement and thereby triggering a mandatory offer obligation under the Takeovers Code. The Company and GF Holding therefore mutually agreed that the GF Holding Subscription Agreement shall be terminated with effect from 29 April 2016 and the parties shall not be obliged to perform the obligations thereunder.

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Notwithstanding the termination of the GF Holding Subscription Agreement, the Company and GF Holding indicated their plan to continue with the cooperation. The Company will continue to discuss with GF Holding to reach a mutually agreed structure regarding the proposed investment of GF Holding in the Company. The Company will make further announcement(s) as and when appropriate in accordance with the Listing Rules and as soon as any definitive agreement detailing the terms of the investment by GF Holding into the Company has been entered into.

By order of the board of Comtec Solar Systems Group Limited John Yi Zhang Chairman

Shanghai, the People’s Republic of China, 3 May 2016

As at the date of this announcement, the executive Directors are Mr. John Yi Zhang, Mr. Chau Kwok Keung and Mr. Shi Cheng Qi, the non-executive Director is Mr. Donald Huang, and the independent non-executive Directors are Mr. Leung Ming Shu, Mr. Kang Sun and Mr. Daniel DeWitt Martin.

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