China E Information Technology : UPDATE ON THE USE OF PROCEEDS FROM PLACING OF SHARES (in PDF)

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 E-INFORMATION TECHNOLOGY GROUP LIMITED

中國網絡信息科技集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 08055)

UPDATE ON THE USE OF PROCEEDS FROM PLACING OF SHARES

Reference is made to the announcements issued by China E-Information Technology Group Limited (the "Company") dated 26 January 2018, 9 February 2018 and 27 February 2018 in relation to the Placing (the "Announcements") and the annual report of the Company for the year ended 31 December 2018 (the "Annual Report"). Terms used herein shall have the same meanings as defined in the Announcements unless otherwise stated.

As disclosed in the Announcements, the completion of the Placing took place on 27 February 2018 and the net proceeds from the Placing, after deducting related Placing commission, professional fees and all related expenses, was approximately HK$44.4 million (the "Proceeds"). As at the date of this announcement, all the Proceeds have been utilised.

The Board wishes to provide the following additional information to the Shareholders in relation to the actual use of the Proceeds as follows:-

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The abovementioned actual use of the Proceeds are consistent with the intended use of the Proceeds as disclosed in the Announcements and no material delay in the use of the Proceeds is noted.

The above supplemental information does not affect other information contained in the Annual Report and, save as disclosed in this announcement, the contents of the Annual Report remain unchanged.

By order of the Board

China E-Information Technology Group Limited

Yuan Wei

Executive Director

Hong Kong, 10 October 2019

As at the date of this announcement, the Board comprises five executive Directors, namely Mr. Yuan Wei, Ms. Zhang Jianxin, Mr. Zheng Zhijing, Ms. Lin Yan and Ms. Wong Hiu Pui; and three independent non-executive Directors, namely Ms. Yang Qingchun, Mr. Tang Jiuda and Ms. Lu Xiaowei.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief, the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or in this announcement misleading.

This announcement will remain on the GEM website at www.hkgem.com on the "Latest Company Announcements" page and the website of the Company at www.irasia.com/listco/hk/chieinfotech/for at least 7 days from the date of its publication.

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