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.

XINYI SOLAR HOLDINGS LIMITED

信義光能控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 00968)

GRANT OF OPTIONS UNDER THE SHARE OPTION SCHEME

This announcement is made by the Board pursuant to Rule 17.06A of the Listing Rules. The Board announces that on 31 March 2021, the Company granted in aggregate 9,885,500 Options to the Grantees pursuant to the Share Option Scheme, subject to acceptance by the Grantees.

This announcement is made by the board (the "Board") of directors (the "Directors") of Xinyi Solar Holdings Limited (the "Company") pursuant to Rule 17.06A of The Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Board announces that on 31 March 2021, the Company granted in aggregate 9,885,500 share options (the "Options") to subscribe for the same number of ordinary shares (the "Shares") of HK$0.10 each in the share capital of the Company to certain eligible participants (the "Grantees") under the share option scheme (the "Share Option Scheme") adopted by the Company on 6 June 2014. A summary of the grant of the Options is set forth below:-

Date of grant

:

31 March 2021

Exercise price of each Option

:

HK$12.99

Number of Options

:

9,885,500

Closing price of each Share on

:

HK$12.78

the date of grant

Vesting schedule

: One-third of the Options will vest on 31 December 2021 if

each Grantee has met the conditions of vesting as stated in the

letter of grant.

One-third of the Options will vest on 31 December 2022 if each Grantee has met the conditions of vesting as stated in the letter of grant.

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One-third of the Options will vest on 31 December 2023 if

each Grantee has met the conditions of vesting as stated in the

letter of grant.

Exercise period

: The Options can be exercised from 1 April 2024 to 31 March

2025.

Validity period of options

: From 31 March 2021 to 31 March 2025.

Among the 9,885,500 Options granted, 300,000 Options have been granted to Mr. CHEN Xi, an executive Director. In accordance with Rule 17.04(1) of the Listing Rules, the grant of Options to the executive Director has been approved by the independent non-executive Directors.

Save as disclosed in this announcement, all of the Grantees are employees of the Company and its subsidiaries and none of them is a Director, chief executive or substantial shareholder (as defined in the Listing Rules) of the Company or an associate of any of them (as defined in the Listing Rules). The Options are subject to acceptance by the Grantees.

On behalf of the Board

Xinyi Solar Holdings Limited

Dr. LEE Yin Yee, B.B.S.

Chairman

Hong Kong, 31 March 2021

As of the date of this announcement, the Board comprises four executive Directors, namely Dr. LEE Yin Yee, B.B.S. (Chairman of the Board), Mr. LEE Yau Ching, Mr. LI Man Yin, and Mr. CHEN Xi, two non- executive Directors, namely Tan Sri Datuk TUNG Ching Sai P.S.M, D.M.S.M, J.P. and Mr. LEE Shing Put, B.B.S., and three independent non-executive Directors, namely Mr. CHENG Kwok Kin, Paul, Mr. LO Wan Sing, Vincent and Mr. KAN E-ting, Martin.

This announcement will be published on the website of the Stock Exchange at www.hkexnews.hk and on the website of the Company at www.xinyisolar.com.

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Xinyi Solar Holdings Ltd. published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 10:43:06 UTC.