China Solar Energy : ANNOUNCEMENT IN RESPECT OF PUBLICATION OF UNAUDITED MANAGEMENT ACCOUNTS FOR THE YEARS ENDED 31 MARCH 2014, 2015, 2016, 2017 and 2018

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 SOLAR ENERGY HOLDINGS LIMITED ʕ਷๕࿫Έཥঐ๕છٰϞࠢʮ̡*

(Provisional Liquidators Appointed)

(Incorporated in Bermuda with limited liability)

(Stock Code: 155)

ANNOUNCEMENT IN RESPECT OF PUBLICATION OF

UNAUDITED MANAGEMENT ACCOUNTS

FOR THE YEARS ENDED 31 MARCH 2014, 2015, 2016, 2017 and 2018

Reference is made to the announcements of China Solar Energy Holdings Limited (Provisional Liquidators Appointed) (the "Company") dated 27 February 2017, 1 and 18 September 2017, 28 February 2018, 16 March 2018, 16 May 2018, 1 August 2018, 1 November 2018 and 1 February 2019 relating to, among others, the new listing application of the Company (the "Announcements"). Unless otherwise stated, capitalized terms used herein shall have the same meaning as those defined in the Announcements.

The Company has been working to finalise the financial figures for publishing all outstanding interim and annual results. The auditors of the Company (the "Auditors") have completed the special audits of the accounts of the Company. The Company is preparing the statutory accounts of the Company for the years from 2014 to 2018 and will publish the outstanding annual and interim results as soon as practicable.

Meanwhile, the Board wishes to set forth below the preliminary unaudited financial information of the Company.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 March 2014

2014	2013
HK$'000	HK$'000
(Unaudited)	(Audited)
Revenue	-	180,499
Costs of sales	-	(175,668)
Gross profit	-	4,831
Other income and gain/(loss)	(30)	1,825
Fair value loss on financial instruments	(1,134)	(3,647)
Loss on disposal of financial instruments	(128)	-
Change in fair value less costs to sell of biological assets	-	819
Impairment loss on intangible assets	(214,607)	(4,261)
Impairment loss on goodwill	-	(68,625)
Impairment loss on interest in an associate	-	(2,174)
Provision for obsolete inventories	-	(1,070)
Write-off of inventories	(2,536)	-
Selling and distribution expenses	-	(710)
Administrative expenses	(27,810)	(99,753)
Share of results of an associate	-	(422)
Gain from a bargain purchase	-	36,388
Loss on deconsolidation of unconsolidated subsidiaries	(239,936)	-
Impairment losses on amounts due from unconsolidated subsidiaries	(252,667)	-
Impairment loss on trade receivables	(129,570)	(2,513)
Finance costs	(7,392)	(4,959)
Loss before taxation	(875,810)	(144,271)
Taxation	646	564
Loss for the year	(875,164)	(143,707)
Other comprehensive income for the year:
Items that will not be reclassified subsequently to profit or loss:
Reclassification adjustments relating to deconsolidation of
subsidiaries during the year	10,888	-
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of foreign operations	50	4,948
Other comprehensive income for the year	10,938	4,948
Total comprehensive loss for the year	(864,226)	(138,759)
Loss for the year attributable to:
Owners of the Company	(768,227)	(136,858)
Non-controlling interests	(106,937)	(6,849)
(875,164)	(143,707)
Total comprehensive loss for the year attributable to:
Owners of the Company	(779,123)	(131,959)
Non-controlling interests	(85,103)	(6,800)
(864,226)	(138,759)
Loss per share
Basic and diluted (HK$ cents)	(51.434)	(10.309)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 March 2014

2014	2013
HK$'000	HK$'000
(Unaudited)	(Audited)
Non-current assets
Property, plant and equipment	644	95,863
Prepaid lease payments	-	51,878
Construction in progress	-	130,592
Long-term prepayment	-	8,058
Intangible assets	-	214,607
Goodwill	-	260,810
Interest in an associate	-	-
Available-for-sale investments	-	-
Investments in unconsolidated subsidiaries	-	-
644	761,808
Current assets
Prepaid lease payments	-	1,183
Biological assets	-	1,346
Inventories	10,310	12,841
Trade receivables	-	161,765
Amounts due from unconsolidated subsidiaries	31	-
Deposits, prepayments and other receivables	3,369	42,987
Held-for-trading investments	4,700	8,814
Cash and bank balances	9,926	17,068
28,336	246,004
Total assets	28,980	1,007,812
Non-current liabilities
Convertible notes	30,912	26,996
Government grant	-	115,873
Deferred tax liabilities	1,622	8,007
Promissory notes	-	20,907
Bonds	10,423	-
42,957	171,783

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

As at 31 March 2014

2014	2013
HK$'000	HK$'000
(Unaudited)	(Audited)
Current liabilities
Trade payables	-	647
Other payables and accruals	12,027	45,932
Amounts due to unconsolidated subsidiaries	7,006	-
Amount due to a director	-	2,039
Promissory notes	23,910	-
42,943	48,618
Net current (liabilities)/assets	(14,607)	197,386
Net (liabilities)/assets	(56,920)	787,411
Equity
Share capital	15,385	141,615
Reserves	(74,724)	558,274
(Deficit)/equity attributable to owners of the Company	(59,339)	699,889
Non-controlling interests	2,419	87,522
Total (deficit)/equity	(56,920)	787,411
Total assets less current liabilities	(13,963)	959,194

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 March 2015

2015	2014
HK$'000	HK$'000
(Unaudited)	(Unaudited)
Revenue	13,872	-
Costs of sales	(11,097)	-
Gross profit	2,775	-
Other income and loss	3	(30)
Fair value loss on financial instruments	-	(1,134)
Loss on disposal of financial instruments	(33)	(128)
Impairment loss on intangible assets	-	(214,607)
Write-off of inventories	-	(2,536)
Administrative expenses	(18,887)	(27,810)
Loss on deconsolidation of unconsolidated subsidiaries	-	(239,936)
Impairment losses on amounts due from unconsolidated
subsidiaries	(11)	(252,667)
Impairment loss on trade receivable	-	(129,570)
Gain on modification of the terms of promissory notes	5,965	-
Finance costs	(13,499)	(7,392)
Loss before taxation	(23,687)	(875,810)
Taxation	1,622	646
Loss for the year	(22,065)	(875,164)
Other comprehensive income for the year:
Items that will not be reclassified subsequently to profit or
loss:
Reclassification adjustments relating to deconsolidation of
subsidiaries during the year	-	10,888
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of foreign
operations	10	50
Other comprehensive income for the year	10	10,938
Total comprehensive loss for the year	(22,055)	(864,226)
(Loss)/profit for the year attributable to:
Owners of the Company	(22,429)	(768,227)
Non-controlling interests	364	(106,937)
(22,065)	(875,164)
Total comprehensive (loss)/income for the year
attributable to:
Owners of the Company	(22,424)	(779,123)
Non-controlling interests	369	(85,103)
(22,055)	(864,226)
Loss per share
Basic and diluted (HK$ cents)	(1.457)	(51.434)