Kingwell Group Limited — Board/Management Information 2021

May 27, 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)

GRANT OF WAIVER FROM THE STRICT COMPLIANCE WITH RULES 3.10(1), 3.11, 3.21 AND 3.23 OF THE LISTING RULES

Reference is made to the announcement of DeTai New Energy Group Limited (the ‘‘Company’’) dated 22 March 2021 in relation to the extension of time for appointment of independent non-executive director (the ‘‘Director’’) of the Company and the announcement of the Company dated 18 May 2021 in relation to the appointment of Mr. Sheung Kwong Cho (‘‘Mr. Sheung’’) as an independent non-executive Director (collectively the ‘‘Announcements’’). Unless the context requires, capitalised terms used herein shall bear the same meanings as defined in the Announcements.

As disclosed in the announcement of the Company dated 22 March 2021, an application has been made by the Company to the Stock Exchange for an extension of a 3-month waiver for the period from 23 March 2021 to 22 June 2021 from the strict compliance with Rules 3.10(1), 3.11, 3.21 and 3.23 of the Listing Rules. Subsequently, the Company has appointed Mr. Sheung as an independent non-executive Director and a member of the Audit Committee on 18 May 2021 and following Mr. Sheung’s appointment, the Company is now in compliance with the requirements under Rules 3.10(1) and 3.21 of the Listing Rules.

In view of the above, a revised application has been made by the Company to the Stock Exchange and the Stock Exchange had granted an extension of a waiver on 26 May 2021 for the period from 23 March 2021 to 17 May 2021 from the strict compliance with Rules 3.10(1), 3.11, 3.21 and 3.23 of the Listing Rules.

By order of the Board

DeTai New Energy Group Limited Chan Wai Ki Chairman and Executive Director

Hong Kong, 27 May 2021

As at the date of this announcement, the executive Directors are Mr. Chan Wai Ki, Mr. Eric Todd and Mr. Yiu To Wa; and the independent non-executive Directors are Mr. Chiu Wai On, Mr. Man Kwok Leung and Mr. Sheung Kwong Cho.