GoFintech Quantum Innovation Limited — Board/Management Information 2012

Mar 6, 2012

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.

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NEW TIMES ENERGY CORPORATION LIMITED 新 時 代 能 源 有 限 公 司[*]

(incorporated in Bermuda with limited liability)

(Stock Code: 00166)

APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND DIRECTOR ’ S SERVICE CONTRACT

The Board is pleased to announce that Mr. Cheng Ming Kit, an executive director of the Company, has been appointed as the chief executive officer of the Company with effect from 6 March 2012.

The Board is pleased to announce that the Company has entered into a service contract with Mr. Sun Jiang Tian, an executive director of the Company, with effect from 5 March 2012.

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The board of directors (the ‘‘Board’’) of New Times Energy Corporation Limited (the ‘‘Company’’) is pleased to announce that Mr. Cheng Ming Kit (‘‘Mr. Cheng’’), an executive director of the Company, has been appointed as the chief executive officer of the Company with effect from 6 March 2012.

Mr. Cheng, aged 37, holds a bachelor degree in Commerce from the University of Alberta, Canada. From 1995 to 2003, Mr. Cheng held various positions which were responsible for corporate finance and property development activities in the People’s Republic of China (the ‘‘PRC’’). From 2003 to 2008, Mr. Cheng was involved in the investment and operations in the gold mining industry in the PRC and had held senior positions in a mining company listed in the Toronto Stock Exchange Venture Board with mining and exploration operations in the PRC. Mr. Cheng was an executive director of Grand T G Gold Holdings Limited (stock code: 8299) from November 2008 to June 2009, which shares are listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’). He is the nephew of Mr. Cheng Kam Chiu, Stewart, the chairman and an executive director of the Company.

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Save as disclosed above, to the best knowledge and belief of the Board, Mr. Cheng (i) did not hold any directorship in any other public company in Hong Kong and overseas during the past three years; (ii) did not have any prior business or other relationship with the Company and its subsidiaries (the ‘‘Group’’); (iii) does not have any other relationships with any members of the Board, senior management, substantial shareholders or controlling shareholders of the Company within the meaning of the Rules Governing the Listing of Securities on the Stock Exchange (the ‘‘Listing Rules’’); (iv) save for the 1,000 shares of the Company held by Mr. Cheng, he does not have any other interests (within the meaning of Part XV of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong) in shares of the Company as at the date of this announcement; and (v) does not hold any other positions in the Group.

Save as disclosed in this announcement, there is no other information required to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules and there are no other matters that need to be brought to the attention of the shareholders of the Company in relation to this appointment.

DIRECTOR ’ S SERVICE CONTRACT

Reference is made to the announcement dated 1 March 2012 of the Company (the ‘‘Announcement’’).

As mentioned in the Announcement, the Company had not entered into a service contract with Mr. Sun Jiang Tian (‘‘Mr. Sun’’), an executive director of the Company, and the remuneration of Mr. Sun would be determined at a later date.

The Company has entered into a service contract with Mr. Sun on 5 March 2012. According to the service contract, Mr. Sun is not appointed for any specific length or proposed length of service and his term of service shall continue unless and until terminated by either the Company or Mr. Sun by giving, to the other party, one month’s prior notice or payment in lieu of notice, or by mutual agreement. The directorship of Mr. Sun will be subject to the retirement and re-election provision set out in the Bye-laws of the Company. Mr. Sun is entitled to receive a director’s remuneration of RMB60,000 per month. The director’s remuneration of Mr. Sun has been approved by the remuneration committee of the Company with reference to his duties and responsibilities within the Group, the prevailing market rate and the Company’s remuneration policy. Mr. Sun may also be entitled to receive annual discretionary bonus subject to the absolute discretion of the chairman of the Board.

By Order of the Board New Times Energy Corporation Limited Cheng Kam Chiu, Stewart Chairman

Hong Kong, 6 March 2012

As at the date of this announcement, the Board comprises eight directors, of which three are executive directors, namely Mr. Cheng Kam Chiu, Stewart, Mr. Cheng Ming Kit and Mr. Sun Jiang Tian; two non-executive directors, namely Mr. Wong Man Kong, Peter and Mr. Chan Chi Yuen; and three independent non-executive directors, namely Mr. Fung Chi Kin, Mr. Fung Siu To, Clement and Mr. Chiu Wai On.

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