KEYNE LTD — Regulatory Filings 2021

Apr 23, 2021

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.

PUXING ENERGY LIMITED 普星能量有限公司

(Formerly known as “Puxing Clean Energy Limited 普星潔能有限公司” )

(Incorporated in Cayman Islands with limited liability)

(Stock Code: 90)

ANNOUNCEMENT IN RELATION TO COMPLIANCE WITH RULES 13.51B(2) AND 13.51(2) OF THE LISTING RULES

Reference is made to the announcement of Puxing Energy Limited (the “ Company ”) dated 16 April 2021 (the “ Announcement ”) regarding the compliance with rules 13.51B(2) and 13.51(2) of the Listing Rules. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

On 22 April 2021, Mr. Yao informed the Company that APP has received the “Decision of Administrative Penalties” ([2021] No.4) (《行政處罰決定書》([2021]4號)) issued by the Zhejiang Securities Regulatory Bureau on 21 April 2021 (the “ Decision ”) in relation to the Incident. According to the Decision, after the Zhejiang Securities Regulatory Bureau’s review on the relevant evidence, the Zhejiang Securities Regulatory Bureau was of the view that during their tenure, three of the then independent directors of APP (including Mr. Yao) were able to actively participate in the meetings of the board of directors of APP, review the proposal materials, express their independent opinions and maintain communications with APP and the relevant personnel of APP, and they had also performed their duties through participating in the research and investigation of APP’s projects during business trips, analysing and comparing the results of the Subsidiary before and after the acquisition, and assigning a team to visit the site of the Subsidiary and conducting verification, and hence, the Zhejiang Securities Regulatory Bureau decided to exempt them (including Mr. Yao) from penalties.

Save as disclosed above, there is no other information in relation to Mr. Yao that shall be disclosed pursuant to rule 13.51(2)(h) to (v) of the Listing Rules, nor is there any other matter that shall be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited in relation to the directorship of Mr. Yao.

By order of the Board Puxing Energy Limited WEI Junyong Chairman

Hong Kong, 23 April 2021

As at the date of this announcement, the Board comprises five Directors, of whom two are executive Directors, namely Mr. Wei Junyong and Mr. Gu Genyong; and three are independent non-executive Directors, namely Mr. Tse Chi Man, Mr. Yao Xianguo and Mr. Yu Wayne W.