Date of announcement 2020/11/17
Time of announcement 18:16:35
Date of events 2020/11/17
To which item it meets paragraph 11

Statement

1.Date of the board of directors resolution:2020/11/17
2.Source of capital increase funds:Capital increase by issuance of new shares
3.Number of shares issued (not including those distributed to employees if
consisting in capital increase from earnings or capital surplus) :80,898,045 shares
4.Par value per share:USD 1
5.Total monetary value of the issuance:USD 80,898,045
6.Issue price:N/A
7.Number of shares subscribed for by or allocated to employees:N/A
8.Number of shares publicly sold:N/A
9.Ratio of shares subscribed by or allotted as stock dividends to existing shareholders:N/A
10.Handling method for fractional shares and shares unsubscripted for by the deadline:N/A
11.Rights and obligations of these newly issued shares:
Same as existing shares.
12.Utilization of the funds from the capital increase: To comply with the ES
Tax regulation in British Virgin Islands.
13.Any other matters that need to be specified:Capital increase by issuance
of new shares to take place upon approval of Board of Directors of CDF.