China Power International Development : Closure of Register of Members and Withholding and Payment of Enterprise Income Tax for Non-resident Enterprises in Respect of 2020 Final Dividend

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China Power International Development Limited 中國電力國際發展有限公司

(incorporated in Hong Kong with limited liability)

(Stock Code: 2380)

Closure of Register of Members and

Withholding and Payment of Enterprise Income Tax for Non-resident Enterprises in Respect of

2020 Final Dividend

On 18 March 2021, the board of directors (the "Board") of China Power International Development Limited (the "Company") has resolved the proposal to pay a final dividend of RMB0.13 (pre-tax) (equivalent to HK$0.1556) per ordinary share for the year ended 31 December 2020 (the "2020 Final Dividend"). The 2020 Final Dividend is subject to the shareholders' approval at the forthcoming annual general meeting of the Company to be held on Thursday, 3 June 2021 (the "2021 AGM"). The notice of the 2021 AGM, the accompanying circular and the proxy form will be dispatched to shareholders in April 2021.

CLOSURE OF REGISTER OF MEMBERS

For the purposes of determining shareholders' eligibility to attend and vote at the 2021 AGM, and entitlement to the 2020 Final Dividend, the register of members of the Company will be closed. Details of such closures are set out below:

(i)	For determining shareholders' eligibility to attend and vote at the 2021 AGM:
Latest time to lodge transfer documents for registration	4:30 p.m on Friday, 28 May 2021
Closure of register of members	Monday, 31 May 2021 to Thursday, 3 June 2021 (both days inclusive)
Record date	Thursday, 3 June 2021

(ii)	For determining shareholders' entitlement to the 2020 Final Dividend:
Latest time to lodge transfer documents for registration	4:30 p.m. on Tuesday, 8 June 2021
Closure of register of members	Wednesday, 9 June 2021 to Friday, 11 June 2021 (both days inclusive)
Record date	Friday, 11 June 2021

During the above closure periods, no transfer of shares of the Company will be registered. To be eligible to attend and vote at the 2021 AGM, and to qualify for the 2020 Final Dividend, all properly completed transfer forms accompanied by the relevant share certificates must be lodged for registration with the Company's share registrar, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong no later than the aforementioned latest time. The 2020 Final Dividend is expected to be paid in Hong Kong dollars on 30 June 2021 to those members registered in the Company's register of members on Friday, 11 June 2021 (the "Record Date").

WITHHOLDING AND PAYMENT OF ENTERPRISE INCOME TAX

Pursuant to the PRC enterprise income tax law, a 10% withholding income tax is levied on dividends declared on or after 1 January 2008 by foreign investment enterprises to their foreign enterprise shareholders unless the enterprise investor is deemed as a PRC Tax Resident Enterprise ("TRE"). In December 2010, the Company was judged by the PRC State Taxation Administration ("SAT") as a PRC TRE, and therefore the Company's subsidiaries in the PRC would not be required to accrue for any withholding tax on dividends declared to the Company.

In respect of any shareholders of the Company whose names appear on the Company's register of members on the Record Date and who are not individual shareholders (including HKSCC Nominees Limited, other custodians, corporate nominees, trustees such as securities companies and banks, and other entities or organizations, which are all considered as non-TRE), the Company will distribute the proposed 2020 Final Dividend after deducting enterprise income tax of 10%.

The Company will not withhold and pay the income tax in respect of the proposed 2020 Final Dividend payable to any natural person shareholders whose names appear on the Company's register of members on the Record Date.

IMPORTANT NOTICE

Investors should read this announcement carefully and are recommended to obtain independent professional advice in relation to the relevant tax rules and impacts therefrom. If any investor would like to change the identity of the holders in the registerof members, please enquire about the relevant procedures with your own nominees or trustees. The Company will withhold for payment of the enterprise income tax for its non-TRE shareholders strictly in accordance with the relevant laws and requirements of the relevant government agencies and adhere strictly to the information set out in the Company's register of members on the Record Date. The Company assumes no liability whatsoever in respect of and will not process any claims, arising from any delay in, or inaccurate determination of, the status of the shareholders, or any disputes over the mechanism of withholding and payment.

By Order of the Board

China Power International Development Limited

Tian Jun

Chairman

Hong Kong, 18 March 2021

As at the date of this announcement, the directors of the Company are: executive directors Tian Jun and He Xi, non-executive directors Guan Qihong and Wang Xianchun, and independent non-executive directors Kwong Che Keung, Gordon, Li Fang and Yau Ka Chi.