MOBI Development : VOLUNTARY ANNOUNCEMENT - BUSINESS UPDATE

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.

MOBI Development Co., Ltd.

摩 比 發 展 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 947)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE

This announcement is made by the board of directors (the "Board") of MOBI Development Co., Ltd. (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to provide the latest information on the participation by MOBI Antenna Technologies (Shenzhen) Co., Ltd. ("MOBI Shenzhen"), a subsidiary of the Company, in the "Securitization of Intellectual Property" project in Nanshan District, Shenzhen.

The Board is pleased to announce that the Group continues to receive steady orders for 5G projects from domestic and overseas customers. Recently, MOBI Shenzhen, a subsidiary of the Company, has participated in the "Securitization of Intellectual Property" project in Nanshan District, Shenzhen, whereby it has pledged some 5G intellectual property rights as the underlying assets of the trust, and has issued the intellectual property asset-backed notes (ABN) in the National Association of Financial Market Institutional Investors for a period not exceeding 2 years, with funds raised from investors not exceeding RMB65 million. This ABN issuance was initiated by BOSC International Investment (Shenzhen) Co., Ltd, with Shenzhen Shendan Credit Enhancement Financing Guarantee Co., Ltd. acting as the credit enhancement party and Bank of Shanghai Co., Ltd. Shenzhen Branch acting as the lead underwriter. Participation in this project enables the Group to truly realize the value of its intellectual property rights, and at the same time, apply the proceeds raised for future innovation and research and development (R&D) of the Group, and ultimately achieve a beneficial cycle of innovation.

Since the commercialization of 5G, the Group has continuously increased its investment in R&D. The Group's significant investment in R&D personnel, R&D resources and testing resources has injected inexhaustible momentum into the continuous roll-out of 5G products. The R&D team of the Group closely follows the 5G progress of operators and equipment vendors, and conducts project R&D according to the product needs of target customers. At present, 5G antenna and filters have entered the stage of bulk delivery. At the same time, the R&D team has carried out several in-house research projects to continuously expand the product line-up, so to be prepared to meet the diverse product needs of operators and equipment vendors. In addition, in view of the emerging opportunities for 5G, the Group has, on one hand, leveraged its existing principle business to increase its market share and, on the other hand, developed new IoT-related products in response to new market needs.

1

The Group believes that its continuously increasing investment in 5G R&D will bring good opportunities for growth in 2020 and beyond.

MOBI Shenzhen's participation in the "Securitization of Intellectual Property" project does not constitute a transaction of the Company under Chapter 14 or Chapter 14A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Shareholders and potential investors are cautioned not to unduly rely on such information and are advised to exercise caution when dealing in shares of the Company.

By Order of the Board

MOBI Development Co., Ltd.

HU Xiang

Chairman

Hong Kong, 22 September 2020

As at the date of this announcement, the executive Directors of the Company are Mr. HU Xiang and Mr. LIAO Dong; the non-executive Director is Mr. QU Deqian; and the independent non-executive Directors are Mr. LI Tianshu, Mr. ZHANG Han and Ms. GE Xiaojing.

2