Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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 INVESTMENT DEVELOPMENT LIMITED

中國投資開發有限公司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 204)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE

This announcement is made by China Investment Development Limited (the "Company", and together with its subsidiaries, the "Group") on a voluntary basis. The purpose of this announcement is to keep the shareholders and potential investors of the Company informed of the latest business development of the Group.

The board (the "Board") of directors (the "Directors") of the Company is pleased to announce that on 11 May 2021, the Company signed a letter of intent (the "Letter of Intent") for strategic cooperation (the "Strategic Cooperation") with 網紅文化產業發展(杭州)有限公司 (unofficially translated as "Internet Celebrities Cultural Industry Development (Hangzhou) Co., Ltd.") ("Internet Celebrities Cultural").

To the best knowledge of the Company, Internet Celebrities Cultural is registered in Hangzhou, which is mainly engaged in China City Network Cultural Industry Conference, China Liangzhu Agricultural and Sideline Food Live E-commerce Base (Park) and other businesses. The Company, a company listed on the Main Board of the Stock Exchange, intends to expand its investment business in mainland China. By virtue of the Letter of Intent, the Company agrees to not only invest in Internet Celebrities Cultural itself, but also introduce other investors or assist Internet Celebrities Cultural in financing. The Company will arrange staff as soon as possible to conduct on-site inspection and due diligence on the project of Internet Celebrities Cultural. After the due diligence process is completed, the Company will implement a financing plan with Internet Celebrities Cultural.

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Internet Celebrities Cultural is the general executive unit of China Urban Internet Cultural Industry Conference. It is a comprehensive service organization combined by large-scale competitions, large-scale event planning, organization and execution, professional exhibition services, and live broadcast e- commerce industrial park (base) operation management, and Internet audio-visual industry (live broadcast industry) training , etc. Its five major sectors include the live broadcast e-commerce industrial park and live broadcast base of internet celebrity culture, large-scale events of competitions and exhibitions, online culture college (online celebrity training), agricultural and sideline product supply chain and county economic live broadcast centre, Chinese medicine master lecture hall (Chinese medicine health), etc. It owns cooperative resources including several domestic mainstream trading platforms, live broadcast platforms, live broadcast bases, online media, and Chinese medicine health brands, etc.

The Board is of the view that the Strategic Cooperation contemplated under the Letter of Intent are in line with the Group's business development strategies and plans. The Board believes that this Strategic Cooperation with Internet Celebrities Cultural is a good beginning of the Company's investment layout in online media industry. And it can bring new profit growth to the Group. The Board believes that this is in the interests of the Company and its shareholders as a whole. Further announcement(s) in relation to any update of the Strategic Cooperation will be made by the Company as and when appropriate in accordance with the Rules Governing the Listing of Securities on the Stock Exchange.

The Company wishes to emphasize that as at the date of this announcement, the Company has not entered into any formal or legally binding agreement regarding the Strategic Cooperation. As the Strategic Cooperation may or may not proceed, the Company's shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

China Investment Development Limited

Han Zhenghai

Chairman

Hong Kong, 11 May 2021

As at the date of this announcement, the Board comprises Mr. Chan Cheong Yee as executive Director; Mr. Han Zhenghai (Chairman), Ms. Yang Xiaoqiu and Mr. Yan Peng as non-executive Directors; and Mr. Lai Yuen Piu, Ms. Leung Mei Hing Carrie, Mr. Deng Dongping and Mr. Liu Lihan as independent non-executive Directors.

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China Investment Development Ltd. published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 11:33:04 UTC.