China Singyes Solar Technologs Hldgs : Announcements and Notices - Announcement Monthly Update on Subscription of New Shares under Specific Mandate; and Application for Whitewash Waiver

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This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company nor is it a solicitation of any vote or approval in any jurisdiction.

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)

ANNOUNCEMENT

MONTHLY UPDATE ON

SUBSCRIPTION OF NEW SHARES UNDER SPECIFIC MANDATE;

AND

APPLICATION FOR WHITEWASH WAIVER

Reference is made to the joint announcement (the "Joint Announcement") issued by China Singyes Solar Technologies Holdings Limited (the "Company") and China Singyes New Materials Holdings Limited on 5 June 2019 in relation to, among other things, the Subscription, the application for the Singyes Solar Whitewash Waiver and the proposed Authorised Share Capital Increase, and the Company's announcement dated 27 June 2019 (the "Announcement") about delay in despatch of the Circular.

Terms used herein shall have the same meanings as those defined in the Joint Announcement and Announcement unless the context requires otherwise.

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UPDATE ON THE SUBSCRIPTION

As disclosed in the sub-section headed "Conditions of the Subscription" in the Joint Announcement, the Completion is conditional upon the satisfaction, or where applicable, waiver of the Conditions. The Subscriber and the Company have been working towards the satisfaction of the Conditions, including, among others, obtaining all necessary consents and authorisations for the execution and completion of the transactions under the Subscription Agreement, shareholders' approvals, approvals from the Executive and preparation of the Debt Restructuring Plan. The Company is also in the continuing process of preparing the publication of its annual results for the year ended 31 December 2018 as mentioned in its announcement dated 19 July 2019.

Shareholders and potential investors of the Company should exercise caution when dealing in the Singyes Solar Shares or other securities of the Company.

By order of the Board

China Singyes Solar Technologies Holdings Limited

Liu Hongwei

Chairman

Hong Kong, 29 July 2019

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

The directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statement in this announcement misleading.

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