China Investment Development : REVISED EXPECTED TIMETABLE AND DELAY IN DESPATCH OF ISSUE DOCUMENTS IN RELATION TO THE PROPOSED RIGHTS ISSUE ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY TWO (2) EXISTING SHARES HELD ON THE RECORD DATE

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.

This announcement is made for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

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)

REVISED EXPECTED TIMETABLE AND

DELAY IN DESPATCH OF ISSUE DOCUMENTS

IN RELATION TO

THE PROPOSED RIGHTS ISSUE ON THE BASIS OF

ONE (1) RIGHTS SHARE FOR EVERY TWO (2) EXISTING

SHARES HELD ON THE RECORD DATE

Joint Financial Advisers to the Company

DL Securities (HK) LimitedSilverbricks Securities Company Limited

Underwriter of the Rights Issue

Silverbricks Securities Company Limited

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Reference is made to the announcement of the Company dated 4 May 2021 (the "Announcement"), in relation to the proposed Rights Issue on the basis of one (1) Rights Share for every two (2) existing Shares held on the Record Date. Capitalised terms used herein shall have the same meaning as those defined in the Announcement unless the context otherwise stated.

REVISED EXPECTED TIMETABLE OF THE RIGHTS ISSUE

As disclosed in the Announcement, the Issue Documents setting out details of the Rights Issue was expected to be despatched to the Qualifying Shareholders on Friday, 28 May 2021. Since additional time is required by the Company to compile and finalise certain financial information for inclusion in the Issue Documents, the expected despatch date of the Issue Documents will be postponed to Friday, 11 June 2021 and the expected timetable for the Rights Issue has been revised accordingly as follows.

EXPECTED TIMETABLE

All times and dates stated in this announcement refer to Hong Kong local times and dates. The expected timetable for the Rights Issue set out below and the dates or deadlines specified therein are indicative only and it has been prepared on the assumption that all the conditions of the Rights Issue will be fulfilled. The expected timetable is subject to change, and any changes to the timetable will be announced in a separate announcement by the Company as and when appropriate.

• Last day of dealings in Shares on a cum-rights basis . . . . . . . . . . . . . . . . . . . . . . . . . . . Tuesday, 1 June 2021

• First day of dealings in Shares on an ex-rights basis. . . . . . . . . . . . . . . . . . . . . . . . . .Wednesday, 2 June 2021

• Latest time for lodging transfer of Shares and

related documents in order to qualify for the Rights Issue . . . . . . . . . . . . 4:00 p.m. Thursday, 3 June 2021

• Register of members closes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friday, 4 June 2021 - Thursday, 10 June 2021 (both days inclusive)

• Record date for Rights Issue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thursday, 10 June 2021

• Register of Members re-opens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friday, 11 June 2021

• Despatch of the Issue Documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friday, 11 June 2021

• First day of dealings in nil-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . 9:00 a.m. Wednesday, 16 June 2021

• Latest time for splitting of PALs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:00 p.m. Friday, 18 June 2021

• Last day of dealings in nil-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Wednesday, 23 June 2021

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• Latest time for payment for and acceptance of Rights Shares and the application and

payment for the excess Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:00 p.m. Monday, 28 June 2021

• Latest time for termination of underwriting agreement . . . . . . . . . . . . . . . . . 4:00 p.m. Tuesday, 29 June 2021

• Rights Issue expected to become unconditional after . . . . . . . . . . . . . . . . . . 5:00 p.m. Tuesday, 29 June 2021

• Announcement of the Rights Issue results. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tuesday, 6 July 2021

• Despatch of certificates for fully-paid Rights Shares and refund cheques for wholly

and partially unsuccessful excess applications. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Wednesday, 7 July 2021

• First day of dealings in fully-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . . 9:00 a.m. Thursday, 8 July 2021

SUPPLEMENTAL UNDERWRITING AGREEMENT IN RELATION TO THE REVISIONS TO THE EXPECTED TIMETABLE

As a result of the revisions to the expected timetable as set out above, on 14 May 2021, the Company and the Underwriter entered into a supplemental underwriting agreement (the "Supplemental Underwriting Agreement"), pursuant to which the Company and the Underwriter agreed that the timetable for the Rights Issue shall have to be revised to such an extent that certain dates ought to be put off (the "Extension") and to carry out and give effect to the Extension. Save as revised and/or supplemented in the Supplemental Underwriting Agreement, all other terms and conditions of the Underwriting Agreement shall remain valid and binding, the Company and the Underwriter shall comply with the same wherever appropriate.

The Underwriting Agreement (as amended by the Supplemental Underwriting Agreement) contains provisions giving the Underwriter a right to terminate its obligations under the Underwriting Agreement (as amended by the Supplemental Underwriting Agreement) upon the occurrence of certain events. The Rights Issue is conditional upon the Underwriting Agreement (as amended by the Supplemental Underwriting Agreement) becoming unconditional and not being terminated in accordance with the terms thereof (a summary of which is set out in the section headed "Termination of the Underwriting Agreement" in the Announcement). Accordingly, the Rights Issue may or may not proceed.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares and, if they are in any doubt about their position, they should consult their professional advisor(s).

By Order of the Board

China Investment Development Limited

Han Zhenghai

Chairman

Hong Kong, 14 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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