China Information Technology Develpt : Announcements and Notices - COMPLETION OF DISCLOSEABLE TRANSACTION IN RELATION TO THE ACQUISITION OF 19% EQUITY INTEREST IN THE TARGET COMPANY

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8178)

COMPLETION OF

DISCLOSEABLE TRANSACTION IN RELATION TO

THE ACQUISITION OF 19% EQUITY INTEREST

IN THE TARGET COMPANY

Reference is made to the announcement of China Information Technology Development Limited (the "Company") dated 28 August 2019 in relation to the Acquisition (the "Announcement"). Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

The Board is pleased to announce that all conditions precedent under the Acquisition Agreement have been fulfilled and Completion took place on 3 September 2019. Upon Completion, the Company indirectly owns 19% equity interests in the Target Company and the financial results of the Target Company will not be consolidated into the financial statements of the Group.

By Order of the Board

China Information Technology Development Limited

Wong King Shiu, Daniel

Executive Director

Hong Kong, 4 September 2019

As at the date of this announcement, the Board comprises Mr. Wong Kui Shing, Danny (Chairman and Chief Executive Officer), Mr. Wong King Shiu, Daniel and Mr. Chan Kai Leung as executive Directors; Mr. Hung Hing Man, Mr. Wong Hoi Kuen and Dr. Chen Shengrong as independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, 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 be available on the Company's website http://www.citd.com.hk and will remain on the "Latest Company Announcement" page on the GEM website at http://www.hkgem.com for at least 7 days from the date of its posting.