Comtec Solar Systems Group Limited — M&A Activity 2017

Oct 16, 2017

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.

卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 712)

COMPLETION OF THE ACQUISITION OF 70% EQUITY INTEREST IN KEXIN

Reference is made to the announcement of Comtec Solar Systems Group Limited (the ‘‘Company’’) dated 25 May 2017 (the ‘‘Announcement’’) in relation to the acquisition of 70% equity interest in Zhenjiang Kexin Power System Design and Research Company Limited* (鎮江科信動力系統設計研究有限公司) (‘‘Kexin’’). Terms defined in the Announcement shall have same meanings as used in this announcement unless otherwise stated.

COMPLETION OF THE PROPOSED ACQUISITION

The Board is pleased to announce that as all the conditions precedent had been fulfilled, the Proposed Acquisition was completed on 16 October 2017. Following the Completion of the Proposed Acquisition, Kexin, held as to 70% by the Group, has become a non-wholly owned subsidiary of the Group and its financial statements will be consolidated to those of the Group.

• for identification purpose only

– 1 –

Kexin is principally engaged in the research and development, design, integration and sales of lithium battery management systems and lithium battery systems for electric vehicles (including electric cars, electric motors and electric bicycles) to electric vehicle manufacturers and for power storage systems to lithium battery manufacturers and to power storage companies. The Board believes that the acquisition of Kexin is strategically beneficial to the Group to expand into the business of the research and development, design, integration and sales of lithium battery management systems and lithium battery systems, which marks the Group’s continuous efforts in diversifying its business.

By order of the board of Comtec Solar Systems Group Limited John Yi ZHANG Chairman

Shanghai, the People’s Republic of China, 16 October 2017

As at the date of this announcement, the executive Directors are Mr. John Yi Zhang, Mr. Zhang Zhen and Mr. Chau Kwok Keung, the non-executive Director is Mr. Wang Yixin, and the independent non-executive Directors are Mr. Leung Ming Shu, Mr. Kang Sun and Mr. Xu Erming.

– 2 –