Kingwell Group Limited — Board/Management Information 2021

Nov 26, 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.

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(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

RESIGNATION OF EXECUTIVE DIRECTOR, CHANGE OF CHAIRMAN AND WITHDRAWAL OF AN ORDINARY RESOLUTION AT THE AGM

The board (the‘ ‘ Board’’) of directors (the ‘‘Directors’’) of DeTai New Energy Group Limited (the ‘‘Company’’) hereby announces as follows:

RESIGNATION OF EXECUTIVE DIRECTOR AND CHANGE OF CHAIRMAN

Mr. Charlie Lu (‘‘Mr. Lu’’) has resigned as an executive Director and the chairman of the Board (the ‘‘Chairman’’) with effect from 26 November 2021 due to his other business commitments.

Mr. Lu has confirmed that he had no disagreement with the Board and there was no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company (the ‘‘Shareholders’’) or The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’).

Following the resignation of Mr. Lu, Mr. Cheng Chi Kin, an executive Director, has been appointed as the Chairman with effect from 26 November 2021.

WITHDRAWAL OF AN ORDINARY RESOLUTION AT THE AGM

Reference is made to the circular of the Company dated 5 November 2021 (the ‘‘Circular’’), the notice of annual general meeting dated 5 November 2021 (the ‘‘AGM Notice’’) and the form of proxy of the Company (the ‘‘Proxy Form’’) in relation to the annual general meeting of the Company to be held at Portion 2, 12th Floor, The Center, 99 Queen’s Road Central, Hong Kong on Monday, 6 December 2021 at 10:30 a.m. (the ‘‘AGM’’). Capitalised terms used in this announcement shall have the same meanings as defined in the Circular unless the context requires otherwise.

Due to the resignation of Mr. Lu, ordinary resolution numbered 2.1.1 in respect of the re-election of Mr. Lu as an executive Director set out in the AGM Notice, the Circular and the Proxy Form is no longer applicable and will not be put forward for consideration and approval by the Shareholders at the AGM.

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Save as the aforesaid, all other resolutions as set out in the AGM Notice, the sequence thereof and matters in relation to the AGM, including the date, time and venue for holding the AGM, remain unchanged. Proxy Forms lodged by the Shareholders will remain valid except that no poll will be conducted or counted for the ordinary resolution numbered 2.1.1.

Shareholders are reminded to read the Circular, AGM Notice and the Proxy Form for details in respect of other resolutions which will be put forward as scheduled for consideration and approval at the AGM, eligibility for attending the AGM, appointment of proxy and other relevant matters.

By order of the Board DeTai New Energy Group Limited Cheng Chi Kin Chairman and Executive Director

Hong Kong, 26 November 2021

As at the date of this announcement, the executive Directors are Mr. Cheng Chi Kin (Chairman) and Mr. Liu Shihao; and the independent non-executive Directors are Mr. Chiu Wai On, Mr. Man Kwok Leung and Mr. Sheung Kwong Cho.

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