Comtec Solar Systems Group Limited — Capital/Financing Update 2021

Feb 9, 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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卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited

（ Incorporated in n the Cayman Islands with limited liability ） （ Stock Code ： 712 ）

VOLUNTARY ANNOUNCEMENT STRATEGIC COOPERATION AGREEMENT

This announcement is made by the Company on a voluntary basis.

The Strategic Cooperation Agreement

The Board is pleased to announce that the Company and Jiangsu Changzhou Tianning Economic Development Zone Management Committee (the “ Cooperating Party ”) entered into a strategic cooperation agreement (the “ Strategic Cooperation Agreement* ”) on 6 February 2021. Pursuant to the Strategic Cooperation Agreement, the Company and the Cooperating Party agree to make use of their respective resources, expertise and experience to cooperate and develop in-depth new energy business cooperation.

The details of the Strategic Cooperation Agreement are as follows:

1. The parties intend to jointly establish a new energy-asset trading platform. At the preliminary stage, such trading platform will mainly provide distributed photovoltaic-asset trading services, which primarily include trading services, technical evaluation services, financial services, project construction services, etc..

2. The parties intend to jointly establish a new energy industry fund which will focus its investment in the construction, acquisition and disposal of photovoltaic assets.

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The Cooperating Party will mainly focus on financial services support, while the Company will mainly focus on project obtainment, technology support, project operation and corresponding disposals.

1. The parties intend to jointly develop new energy-asset securitisation business. At the preliminary stage, the business will focus on distributed photovoltaic assets and certain centralised photovoltaic assets, integrating the resources of listed companies, licensed financial institutions and government platform resources to promote the securitisation of photovoltaic assets.

Unless otherwise extended in writing by the parties, the term of the Strategic Cooperation Agreement shall be five years commencing from the date of execution.

Information about the Cooperating Party

To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, the Cooperating Party is a PRC local governmental entity, the Cooperating Party and its ultimate beneficial owner are third parties independent of the Company and the connected persons (as defined in the Listing Rules) of the Company.

REASONS AND BENEFITS FOR ENTERING INTO THE STRATEGIC FRAMEWORK AGREEMENT

The Board believes that the entering into of the Strategic Cooperation Agreement can fully utilise the advantages of the Cooperating Party. Subject to compliance applicable with laws and regulations, the Strategic Cooperation Agreement enables the Group to enjoy a good investment environment and efficient governmental services for its investment projects in Changzhou City, Jiangsu Province, PRC.

IMPLICATIONS OF THE LISTING RULES

The Board has reviewed the proposed arrangements under the Strategic Cooperation Agreement and believes that none of them constitute a discloseable transaction of the Company (as defined in Chapter 14 of the Listing Rules).

GENERAL

The Company will make further announcement(s) on any material development in the above matters where necessary in compliance with the Listing Rules.

DEFINITIONS

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In this announcement, unless the context otherwise requires, the following expressions shall have the following meanings:

“Board” The board of directors of the Company “Company” Comtec Solar Systems Group Limited, a company incorporated in the Cayman Islands with limited liability, the issued shares of which are listed on the Main Board of the Stock Exchange (Stock Code: 712) “Directors” the directors of the Company “Group” the Company and its subsidiaries “Hong Kong” The Hong Kong Special Administrative Region of the PRC “Listing Rules” the Rules Governing the Listing of Securities on the Stock Exchange “PRC” the People’s Republic of China excluding, for the purpose of this announcement, the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan “Shareholders” Shareholders of the Company

*For identification purpose only.

By order of the Board of

Comtec Solar Systems Group Limited

John Yi ZHANG

Chairman

Hong Kong, 9 February 2021

As at the date of this announcement, the executive Director is Mr. John Yi Zhang, the non-executive Directors are Mr. Dai Ji and Mr. Qiao Fenglin, and the independent non-executive Directors are Mr. Leung Ming Shu, Mr. Ma Teng and Mr. Kang Sun.

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