DIT Group Limited — Capital/Financing Update 2018

Jul 26, 2018

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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CHINA MINSHENG DIT GROUP LIMITED 中民築友智造科技集團有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 726)

UPDATES ON USE OF PROCEEDS

Reference is made to the circular of China Minsheng DIT Group Limited (the “ Company ”) dated 30 April 2015 (the “ Circular ”) and the annual report of the Company for 9 months ended 31 December 2015 dated 30 March 2016 (the “ 2015 Annual Report ”). Unless otherwise stated, capitalized terms used herein shall bear the same meanings as defined in the Circular.

USE OF PROCEEDS FROM SHARE SUBSCRIPTION AND CB SUBSCRIPTION

On 27 May 2015, the Company completed the issue of Shares and the Convertible Bonds under the Share Subscription and CB Subscription, and raised net proceeds of approximately HK$1,498 million. The 2015 Annual Report disclosed the details of the actual use of proceeds as at 31 December 2015.

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The Company would like to update the shareholders and potential investors on the use of proceeds raised from Share Subscription and CB Subscription which were unutilised as at 31 December 2015:

					Unutilized portion of
					the net proceeds as
			Intended use	Use of proceeds as at	at 31 December 2015	Update on actual use of
Date of		Net	of the proceeds	31 December 2015 as	as disclosed in the	proceeds as at the date of
announcement	Event	proceeds	as announced	disclosed in the Annual Report	Annual Report	this announcement
27 May 2015	Allotment and issue	HK$1,498	Approximately HK$600	The Company decided not to	HK$384 million	HK$384 million has been
	of 6,500 million	million	million for pursuing	proceed with the Possible	unutilized proceeds	used as fund invested in
	new Shares of the		the possible acquisition	Acquisition and the HK$600	were held in cash	subsidiaries of the Group
	Company at the		of Jinhong Property	million proceeds would be used	in bank	in China for property
	subscription price		Development Limited (the	to pursue other investment		related and prefabrication
	of HK$0.2 each and		“Possible Acquisition”)	opportunities of the Group		construction businesses
	issue of HK$200			including property related and
	million zero coupon			prefabrication construction
	Convertible Bond			businesses. To enhance yield
				of the idle cash of the Group,
				approximately HK$23 million
				and HK$193 million had been
				used in June 2015 for investment
				in financial assets at fair value
				through profit or loss and
				available-for-sale financial assets
			Approximately HK$800	HK$120 million had been used	HK$680 million	HK$680 million has been
			million for making	for acquisition of land and	unutilized proceeds	used as fund invested in
			investment in or	facilities upgrade	were held in cash	subsidiaries of the Group
			acquiring new business		in bank	which operate business in
			opportunities in the			the Central, Eastern and
			upstream PRC property			Southern China
			development sector in
			Central, Eastern and
			Southern China
			Approximately HK$98	HK$20 million had been	HK$78 million	HK$78 million has been
			million as general	utilized as working capital of	unutilised proceeds	used as working capital of
			working capital of	the Group	were held in cash	the Group
			the Group		in bank

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Shareholders and investors of the Company are advised to exercise caution when dealing in the Shares and if they are in any doubt about their position, they should consult their professional advisers.

By order of the board of China Minsheng DIT Group Limited Yin Jun Chairman and Executive Director

Hong Kong, 26 July 2018

As at the date of this announcement, the Board comprises Mr. Yin Jun (Chairman), Mr. Yang Hongwei as executive directors; Mr. Peng Xiongwen as non-executive director; Mr. Jiang Hongqing, Mr. Lee Chi Ming, and Mr. Ma Lishan as independent non-executive directors.

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