The board of directors of China Investment Development Limited announced that the company has received an email about Ms. Mo Xiuping (Ms. Mo), an independent non-executive Director (the INED) of the company, alleging that her certain personal activities could be detrimental to the interests of the company (the Allegation). After careful consideration, given the above circumstances and to alleviate any concerns that the management, the shareholders or the potential investors of the company may have regarding the duties of Ms. Mo, the Board has resolved on 19 January 2023, among other things, to suspend all duties and powers of Ms. Mo as the INED with effect from 20 January 2023 until further notice. The Board has referred the matter to the company's internal investigation committee and the investigation is still at the preliminary stage.

concurrently, the company is going to seek legal advice on the Allegation and will keep the shareholders and potential investors of the company informed in due course, should any significant developments appear in connection with the above by way of further announcement.