MOBI Development : VOLUNTARY ANNOUNCEMENT - MOBI WINNING SUBSTANTIAL SHARE IN THE ZTE CORPORATION'S 5G ANTENNA PROJECT PROCUREMENT BIDDING

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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

MOBI WINNING SUBSTANTIAL SHARE IN THE

ZTE CORPORATION'S 5G ANTENNA PROJECT PROCUREMENT

BIDDING

This announcement is made by the board of directors (the "Board") of MOBI Development Co., Ltd. (the "Company", together with its subsidiaries, the "Group"), to provide the latest information on the successful bidding of the 5G project by the Group.

The Board is pleased to announce that the Group has continued to receive stable 4G and 5G orders

from domestic and international customers. MOBI Antenna Technologies (Shenzhen) Co., Ltd. (摩 比天線技術（深圳）有限公司), a subsidiary of the Group, has recently won an approximately 70%

share in ZTE Corporation's 5G antenna project procurement bidding, ranking first in terms of the share of 5G antenna awarded.

Since the commercial use of 5G, the Group has continuously increased its investment in R&D and devoted enormous investment in its R&D personnel, R&D resources and testing resources, etc. The Group has contributed extensively in driving the innovation of 5G products. The Group's R&D team has been working closely with 5G operators and equipment manufacturers to conduct project-based R&D to address the target clients' requirements on the products and the 5G antenna and filter products are now in bulk delivery phase. Concurrently, the R&D team has launched various self-developed projects and is actively expanding its product series so that the Group is well prepared to satisfy the diversified product needs of operators and equipment manufacturers. The Group's antenna and radio frequency businesses have been established for over two decades and the Group has maintained a leading position within the industry possessing robust technologies and solid market shares. In terms of the newly emerged 5G opportunities, the Company will reinforce its existing market shares in its principal businesses and at the same time, develop new IoT products targeting new market needs.

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The Group believes that the successful bidding and the Group's increasing investment in R&D will bring fruitful opportunities for growth in 2020. The successful bidding for ZTE Corporation's project is not a transactional contract, the actual procurement terms will be subject to the final agreement to be entered into. 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, 27 December 2019

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.

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