Contel Technology : UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

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.

Contel Technology Company Limited

康 特 隆 科 技 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1912)

UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

This announcement is made by Contel Technology Company Limited (the "Company") at the request of The Stock Exchange of Hong Kong Limited and pursuant to Rules 13.09 and 13.10 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The board (the "Board") of directors (the "Directors") of the Company has noted the unusual fluctuation in the price and trading volume of the shares of the Company (the "Shares") on 24 July 2020. Having made such enquiries with respect to the Company as is reasonable in the circumstances, the Board confirms that, save and except for the disposal of 41,610,000 Shares by P.Grand (BVI) Ltd., one of the controlling shareholders of the Company, representing approximately 5.2% of the total issued share capital of the Company, it is not aware of any reason for such fluctuation in the trading price of the Shares or of any information which must be announced to avoid a false market in the Shares or of any information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

This announcement is made by the order of the Board. The Board collectively and individually accepts the responsibility for the accuracy of this announcement.

Shareholders of the Company and potential investors are reminded to exercise caution when dealing in the securities of the Company.

By order of the Board

Contel Technology Company Limited

Ms. Au Ka Man Silkie

Company Secretary

Hong Kong, 24 July 2020

As at the date of this announcement, the Board comprises Mr. Lam Keung, Mr. Qing Haodong, Mr. Mai Lu and Ms. Cheng Yu Pik as executive Directors; Mr. Dan Kun Lei, Raymond, Mr. Wong Kwun Ho and Mr. Lai Man Shun as independent non-executive Directors.