Xinyi Solar : XYS_Scrip_Dividend_Announcement_3Jun2019

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.

XINYI SOLAR HOLDINGS LIMITED

信 義 光 能 控 股 有 限 公 司

(Incorporated under the laws of the Cayman Islands with limited liability)

(Stock code: 00968)

SCRIP DIVIDEND SCHEME IN RELATION TO THE FINAL DIVIDEND FOR THE YEAR ENDED 31 DECEMBER 2018 CALCULATION OF MARKET VALUE

The board (the "Board") of directors (the "Directors") of Xinyi Solar Holdings Limited (the "Company") refers to the 2018 final results announcement (the "2018 Results Announcement") of the Company dated 25 February 2019. In the 2018 Results Announcement, the Board recommended the declaration and payment of 2018 final dividend (the "Final Dividend") of 4.2 HK cents per share (the "Share") of the Company to the shareholders (the "Shareholders") of the Company whose names appear on the register of members of the Company on 23 May 2019 (the "Record Date"). The eligible Shareholders (the "Eligible Shareholders") would also be given an option to select to receive the Final Dividend in cash or wholly or partly by way of Shares (the "Scrip Shares") in lieu of cash. The scheme on the Scrip Dividend (the "Scrip Dividend Scheme") is subject to the granting of the listing of and permission to deal in the Scrip Shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

At the annual general meeting of the Company held on 15 May 2019, the Final Dividend (with scrip option) has been approved by Shareholders.

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PARTICULARS OF THE SCRIP DIVIDEND SCHEME

For the purpose of calculating the number of the Scrip Shares, the market value (the "Market Value") of the Scrip Shares has been fixed at 95% of the average closing price per Share as quoted on the Stock Exchange for the five consecutive trading days commenced on Friday, 17 May 2019 and ended on Thursday, 23 May 2019 (both days inclusive) rounded down to two decimal places. In this connection, the average closing price is HK$4.11 and hence, the Market Value is determined to be HK$3.90. Accordingly, the number of Scrip Shares will be calculated as follows:

	Number of existing Shares		4.2 HK cents
Number of the	held on the Record Date for	x	(Final Dividend)
	=
Scrip Shares	HK$3.90
which election is made under
	the Scrip Dividend Scheme		(Market Value)

The number of the Scrip Shares to be issued to each Eligible Shareholder pursuant to its/his/her election will be rounded down to the nearest whole number. Fractional entitlements to the Scrip Shares will not be issued and the benefit thereof will be accrued to the Company. The Scrip Shares will rank pari passu in all respects with the Shares in issue on the date of the allotment and issue of the Scrip Shares except that the Scrip Shares themselves will not be entitled to the Final Dividend.

Based on 8,407,365,833 Shares in issue as of the Record Date, if all Eligible Shareholders elect to receive the Final Dividend in cash, the total cash dividend payable by the Company would be HK$353,109,365. If all Eligible Shareholders elect to receive the Scrip Shares in lieu of cash, the number of the Scrip Shares to be issued will be 90,540,862 Shares, representing 1.08% of the existing number of Shares in issue and 1.07% of the number of Shares in issue as enlarged by the issue of the Scrip Shares.

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GENERAL INFORMATION

Application will be made to the Stock Exchange for listing of, and permission to deal in, the Scrip Shares. A circular (the "Circular") to the Shareholders giving further information on the Scrip Dividend Scheme, together with a form of election in relation to the Scrip Dividend Scheme (the "Election Form"), has been despatched to the Eligible Shareholders on the date of this announcement. Shareholders who wish to receive, in lieu of cash, in whole or in part, the Scrip Shares should complete and sign the Election Form in accordance with the instructions printed thereon and return the signed and completed Election Form to the Company's share registrar, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong no later than the latest time specified in the Circular which is expected to be 4:30 p.m. on Wednesday, 19 June 2019.

By order of the Board

Xinyi Solar Holdings Limited

LEE Yau Ching

Executive Director and Chief Executive Officer

Hong Kong, 3 June 2019

As of the date of this announcement, the Board comprises four executive Directors, namely Dr. LEE Yin Yee, B.B.S. (Chairman of the Board), Mr. LEE Yau Ching, Mr. LI Man Yin, and Mr. CHEN Xi, two non-executive Directors, namely Mr. TUNG Ching Sai and Mr. LEE Shing Put, and three independent non-executive Directors, namely Mr. CHENG Kwok Kin, Paul, Mr. LO Wan Sing, Vincent and Mr. KAN E-ting, Martin.

This announcement will be published on the website of the Stock Exchange at www.hkexnews.hkand on the website of the Company at www.xinyisolar.com.

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