China Chengtong Development : POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING HELD ON 23 DECEMBER 2019

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 CHENGTONG DEVELOPMENT GROUP LIMITED

中國誠通發展集團有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 217)

POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING

HELD ON 23 DECEMBER 2019

The Board is pleased to announce that the resolution as set out in the notice of the Extraordinary General Meeting dated 6 December 2019 was duly passed by way of poll at the Extraordinary General Meeting held on 23 December 2019.

Reference is made to the notice of the extraordinary general meeting ("Extraordinary General Meeting") of China Chengtong Development Group Limited ("Company") dated 6 December 2019 and the circular of the Company dated 6 December 2019 ("EGM Circular") relating to, inter alia, the Equity Transfer Agreement and the Equity Transfer. Unless otherwise defined, terms used herein shall have the same meanings as those defined in the EGM Circular.

RESULTS OF THE EXTRAORDINARY GENERAL MEETING

The Extraordinary General Meeting was held on 23 December 2019. As at the date of the Extraordinary General Meeting, there were a total of 5,808,734,776 Shares in issue. As at the date of the Extraordinary General Meeting, World Gain held 3,022,154,119 Shares, representing approximately 52.03% of the issued share capital of the Company. Since the Purchaser is an associate of World Gain, World Gain had a material interest in the Equity Transfer and therefore abstained from voting at the Extraordinary General Meeting on the resolution approving the Equity Transfer Agreement and the Equity Transfer. Save as aforesaid, as at the date of the Extraordinary General Meeting, to the best of the Directors' knowledge, information and belief having made all reasonable enquiries, no Shareholder was required under the Listing Rules to abstain from voting on the resolution proposed at the Extraordinary General Meeting. As such, there were a total of 2,786,580,657 Shares, representing approximately 47.97% of the issued Shares as at the date of the Extraordinary General Meeting, entitling Shareholders to attend and vote on the resolution proposed at the Extraordinary General Meeting. There were no Shares entitling the

- 1 -

Shareholders to attend the Extraordinary General Meeting and abstain from voting in favour of the resolution proposed at the Extraordinary General Meeting as set out in Rule 13.40 of the Listing Rules. None of the Shareholders has stated its intention in the EGM Circular to vote against the resolution proposed or to abstain from voting at the Extraordinary General Meeting.

Computershare Hong Kong Investor Services Limited, the share registrar and transfer office of the Company, acted as the scrutineer at the Extraordinary General Meeting for the purpose of vote-taking.

Set out below are the results of voting at the Extraordinary General Meeting as conducted by way of poll:

	Number of votes cast	Total
	(% of total number of
ORDINARY RESOLUTION	number of
votes cast)
	votes cast
	For	Against
To approve, confirm and ratify the Equity Transfer	103,031,874	0	103,031,874
Agreement and to approve the transactions	(100%)	(0%)
contemplated thereunder and to authorise any one of
the Directors to take all such actions as he considers
necessary, appropriate, desirable and expedient for
the purposes of giving effect to or in connection with
the Equity Transfer Agreement and all transactions
contemplated thereunder.

As more than 50% of the votes were cast in favour of the resolution, the resolution was duly passed at the Extraordinary General Meeting as an ordinary resolution.

By Order of the Board

China Chengtong Development Group Limited

Zhang Bin

Chairman

Hong Kong, 23 December 2019

As at the date of this announcement, the executive Directors are Mr. Zhang Bin, Mr. Yang Tianzhou, Mr. Wang Tianlin and Mr. Li Shufang; and the independent non-executive Directors are Professor Chang Qing, Mr. Lee Man Chun, Tony and Professor He Jia.

- 2 -