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.

China Singyes Solar Technologies Holdings Limited

中國 興 業太 陽 能 技術 控 股 有 限公 司

(incorporated in Bermuda with limited liability)

(Stock Code: 750)

UPDATE ANNOUNCEMENT

RELATING TO THE WINDING UP PETITION

Reference is made to the announcement of the Company dated 9 August 2019 in relation to, amongst others, a petition for the winding up of the Company presented by Deutsche Bank AG, Hong Kong Branch (the "Petition"); the announcement of the Company dated 20 August 2019, in relation to additional information on the effect of the Petition; and the announcement of the Company dated 16 September 2019 in relation to the grant of a validation order for the payment of certain operating expenses and professional service fees (the "2nd Update Announcement"); and the announcement of the Company dated 2 October 2019 relating to the adjournment of the hearing for the Petition (the "3rd Update Announcement") (collectively, the "Announcements"). Capitalised terms and expressions used herein shall have the same meanings as those defined in the Announcements, unless the context requires otherwise.

As disclosed in the 3rd Update Announcement, the Petition was scheduled to be heard before the High Court at 9:30 a.m. on 16 October 2019. The Company wishes to update the shareholders and potential investors of the Company that at the hearing held on 16 October 2019 at the High Court, an order was made by the High Court to further adjourn the hearing for the Petition against the Company to 9:30 a.m. on 4 November 2019.

Further announcement(s) will be made by the Company to keep its shareholders and potential investors informed of any material development in relation to the Petition as and when appropriate.

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Transfer of shares of the Company may be restricted as the deposits of the Company's shares into CCASS may be suspended due to the Petition. Shareholders and potential investors should exercise caution when dealing in the securities of the Company, and if they are in any doubt about their position, they should consult their professional adviser(s).

By order of the Board

China Singyes Solar Technologies Holdings Limited

Liu Hongwei

Chairman

Hong Kong, 17 October 2019

As at the date of this announcement, the executive Directors are Mr. Liu Hongwei (Chairman), Mr. Xie Wen and Mr. Xiong Shi, the non-executive Directors are Dr. Li Hong and Mr. Zhuo Jianming, and the independent nonexecutive Directors are Dr. Wang Ching, Mr. Yick Wing Fat, Simon and Dr. Tan Hongwei.

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China Singyes Solar Technologies Holdings Ltd. published this content on 17 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 October 2019 10:08:08 UTC