GoFintech Quantum Innovation Limited — Major Shareholding Notification 2006

Oct 23, 2006

NEW TIMES GROUP HOLDINGS LIMITED （新時代集團控股有限公司）[*]

(incorporated in Bermuda with limited liability)

(Stock Code: 166)

CHANGE OF SUBSTANTIAL SHAREHOLDER

The board of directors (“The Board”) of New Times Group Holdings Limited (the “Company”) has been informed by Mr. Chan Chi Yuen, the chairman and single largest shareholder of the Company, that on 20 October 2006, he had sold his entire holding of 119,712,500 shares in the Company (representing approximately 25.82% of the entire issued share capital of the Company) through his wholly owned company, Dragon Union Investments Limited to Good Power International Limited, a company which is 80% owned by Mr. Tse On Kin and 20% owned by Ms. Wong Chin Yen. Mr. Tse On Kin is the brother of Mr. Tse On Po Vincent, the Independent non-executive director of the Company. After the sale, Dragon Union Investments Limited ceased to be a substantial shareholder of the Company and Good Power International Limited becomes the single largest shareholder of the Company, holding of 119,712,500 shares in the Company, representing approximately 25.82% of the entire issued share capital of the Company.

The Board as of the date of this announcement comprises five Directors, including Mr. Chan Chi Yuen as the Chairman, Mr. Lam Kwan Sing as the Executive Director, Mr. Law Fei Shing, Mr. Tse On Po Vincent and Ms. Ho Pui Man as the Independent non-executive Directors

By Order of the Board Chan Chi Yuen Chairman

Hong Kong, 20 October 2006

• For identification purpose only

“Please also refer to the published version of this announcement in China Daily.”