GoFintech Quantum Innovation Limited — Capital/Financing Update 2011

Jun 8, 2011

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)

FURTHER EXTENSION OF REPAYMENT DEADLINE UNDER THE SUPPLEMENTAL ESCROW AGREEMENT IN RELATION TO THE TERMINATION OF VERY SUBSTANTIAL ACQUISITION

Reference is made to the Announcements and Circular of the Company in relation to the Termination.

As at the date of this announcement, the Vendor has deposited the remaining balance of the Repayment Amount as HK$19,999,999.70 into the Escrow Account. The Escrow Agent has duly deposited HK$10,000,000 of the HK$19,999,999.70 paid by the Vendor, as the third Installment, into the relevant bank account of the Purchaser, which has been confirmed by the Purchaser as duly received. The remainder amount of HK$9,999,999.70 shall remain in escrow pending payment of the Accrued Interest by the Vendor.

Upon receipt of the third Installment, the Purchaser submitted a Resignation Letter executed by one of the remaining two directors appointed into Hongwen Gold, pursuant to the terms of the Escrow Agreement. As at the date of this announcement, five directors appointed into Hongwen Gold have resigned from their office. The only remaining director appointed by the Purchaser into Hongwen Gold shall resign subsequent to the Purchaser receiving the final Installment from the Escrow Agent.

As additional time is required by the Vendor to arrange for the payment of the Accrued Interest arising from late repayment of the Repayment Amount, the Vendor and the Purchaser agreed to enter into the Second Supplemental Escrow Agreement to further extend the Repayment Deadline from 7 June 2011 to 21 June 2011.

• For identification purposes only

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Reference is made to the announcement of New Times Energy Corporation Limited (the “ Company ”) dated 18 February 2010, 10 March 2010, 3 May 2010, 30 September 2010, 29 October 2010, 30 November 2010, 16 December 2010, 21 January 2011, 2 March 2011, 15 April 2011, 25 May 2011 (the “ Announcements ”) and the circular of the Company dated 24 June 2010 (the “ Circular ”) in relation to the Termination.

Unless otherwise stated, capitalized terms used herein have the same meanings as ascribed thereto in the Announcements and Circular.

STATUS OF REPAYMENT BY THE VENDOR

As at the date of this announcement, the Vendor has deposited the remaining balance of the Repayment Amount as HK$19,999,999.70 into the Escrow Account. The Escrow Agent has duly deposited HK$10,000,000 of the HK$19,999,999.70 paid by the Vendor, as the third Installment, into the relevant bank account of the Purchaser, which has been confirmed by the Purchaser as duly received. The remainder amount of HK$9,999,999.70 shall remain in escrow pending payment of the relevant accrued interest arising from late repayment of the Repayment Amount (“ Accrued Interest ”) by the Vendor, as the terms of the Escrow Agreement stipulate that the final Installment shall be at an amount equivalent to the remainder of the unsettled Repayment Amount together with the Accrued Interest.

Upon receipt of the third Installment, the Purchaser submitted a Resignation Letter executed by one of the remaining two directors appointed into Hongwen Gold, pursuant to the terms of the Escrow Agreement. As at the date of this announcement, five directors appointed into Hongwen Gold have resigned from their office. The only remaining director appointed by the Purchaser into Hongwen Gold shall resign subsequent to the Purchaser receiving the final Installment from the Escrow Agent.

EXTENSION OF THE REPAYMENT DEADLINE

As additional time is required by the Vendor to arrange for the payment of the Accrued Interest, the Vendor and the Purchaser agreed to enter into a second supplemental agreement with the Escrow Agent on 7 June 2011 (the “ Second Supplemental Escrow Agreement ”) to further extend the Repayment Deadline from 7 June 2011 to 21 June 2011.

By order of the Board New Times Energy Corporation Limited Yu Wing Cheung Company Secretary

Hong Kong, 8 June 2011

As at the date of this announcement, the board of Directors comprises seven Directors, of which two are executive Directors, namely Mr. Cheng Kam Chiu, Stewart and Mr. Cheng Ming Kit; 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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