China Solar Energy : QUARTERLY UPDATE ON DEVELOPMENT OF THE GROUP

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 SOLAR ENERGY HOLDINGS LIMITED

中國源暢光電能源控股有限公司*

(Provisional Liquidators Appointed)

(Incorporated in Bermuda with limited liability)

(Stock Code: 155)

QUARTERLY UPDATE ON DEVELOPMENT OF THE GROUP

This announcement is made by China Solar Energy Holdings Limited (Provisional Liquidators Appointed) (the "Company") pursuant to Rule 13.24A of the Rules Governing the Listing of Securities (the "Listing Rules") on the Stock Exchange of Hong Kong (the "Stock Exchange").

Reference is made to the announcements of the Company dated 5 September 2016, 27 February 2017, 1 and 18 September 2017, 28 February 2018, 16 March 2018, 16 May 2018, 1 August 2018, 1 November 2018, 1 February 2019, 3 May 2019, 1 August 2019 and 1 November 2019 relating to, among others, the new listing application of the Company (the "Announcements"). Unless otherwise stated, capitalized terms used herein shall have the same meaning as those defined in the Announcements.

On 11 January 2020, the Company and the relevant parties entered into an amended and restated restructuring agreement to amend and restate the terms and conditions of the Restructuring Agreement and an amended and restated sale and purchase agreement to amend and restate the terms and conditions of the Sale and Purchase Agreement. The Company currently expects it will renew its new listing application by the end of March 2020. Further announcement will be made by the Company as and when appropriate.

• For identification purpose only

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At the request of the Company, trading in the Shares on the Stock Exchange was suspended with effect from 1:00 p.m. on 16 August 2013 and will remain suspended until further notice. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

For and on behalf of

China Solar Energy Holdings Limited

(Provisional Liquidators Appointed)

Stephen Liu Yiu Keung and Andrew Koo Chi Ho

Joint and Several Provisional Liquidators

Hong Kong, 3 February 2020

As at the date of this announcement, the Board comprises Mr. Xie Xin Ye and Mr. Zhou Wei as executive Directors.

• For identification purpose only

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