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)

CHANGES OF EXECUTIVE DIRECTOR, CHAIRMAN, AUTHORISED REPRESENTATIVE AND PROCESS AGENTS

The Board hereby announces that with effect from 27 May 2021:

• (1) Mr. Wong has resigned as an executive Director and the Chairman; and ceased to act as an Authorised Representative and a Process Agent;

• (2) Mr. Chi has ceased to act as a Process Agent;

• (3) Mr. Yiu has been appointed as an executive Director and a Process Agent; and

• (4) Mr. Chan has been appointed as the Chairman, an Authorised Representative and a Process Agent.

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

RESIGNATION OF EXECUTIVE DIRECTOR AND CHAIRMAN

Mr. Wong Hin Shek (‘‘Mr. Wong’’) has resigned as an executive Director and the chairman of the Board (the ‘‘Chairman’’) with effect from 27 May 2021 due to other business engagement which requires more of his attention and dedication. Mr. Wong will remain as director of various subsidiaries of the Company.

Mr. Wong 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 or The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’).

The Board would like to express its sincere gratitude to Mr. Wong for his invaluable contribution to the Company during his tenure of office.

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APPOINTMENT OF EXECUTIVE DIRECTOR

Mr. Yiu To Wa (‘‘Mr. Yiu’’) has been appointed as an executive Director with effect from 27 May 2021.

Set out below are the biographical details of Mr. Yiu:

Mr. Yiu, aged 38, obtained his bachelor’s degree of business administration in professional accountancy program from The Chinese University of Hong Kong in 2005 and has been a certified public accountant of Hong Kong Institute of Certified Public Accountants since 2008. Mr. Yiu has over 15 years of experience in financial accounting and auditing of listed companies in Hong Kong. Mr. Yiu is currently an independent non-executive director of each of China Environmental Energy Investment Limited (stock code: 986) and Yuk Wing Group Holdings Limited (stock code: 1536) which are listed on the Main Board of the Stock Exchange.

Mr. Yiu is appointed by way of a letter of appointment with no fixed terms but will be subject to retirement by rotation and re-election pursuant to the bye-laws of the Company. Mr. Yiu is entitled to receive a director’s fee of HK$70,000 per month from the Company which is determined by the Board with reference to the prevailing market conditions, his duties and responsibilities with the Company.

As at the date of this announcement, Mr. Yiu does not have, and is not deemed to have, any interest or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations which is required to be disclosed under Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and does not have other relationship with any Directors, senior management, substantial or controlling shareholders of the Company (within the meaning of the Rules Governing the Listing of Securities on the Stock Exchange (the ‘‘Listing Rules’’)). Save as disclosed above, Mr. Yiu has not held any other directorship in the last three years preceding the date of this announcement in public companies the securities of which are listed on any securities market in Hong Kong or overseas or other major appointments and professional qualifications or any other position with the Company and other members of the Group.

Save as disclosed above, there is no other matter in connection with the appointment of Mr. Yiu that needs to be brought to the attention of the shareholders of the Company and there is no other information that should be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to take this opportunity to welcome Mr. Yiu for joining the Board.

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APPOINTMENT OF CHAIRMAN AND CHANGES OF AUTHORISED REPRESENTATIVE AND PROCESS AGENTS

Following the resignation of Mr. Wong and the appointment of Mr. Yiu as disclosed above, with effect from 27 May 2021:

• (1) Mr. Wong has ceased to act as an authorised representative of the Company (‘‘Authorised Representative’’) under Rule 3.05 of the Listing Rules and an authorised representative of the Company to accept service of process or notices in Hong Kong on behalf of the Company as required under Rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (‘‘Process Agent’’);

• (2) Mr. Chi Chi Hung Kenneth (‘‘Mr. Chi’’) has ceased to act as a Process Agent;

• (3) Mr. Yiu has been appointed as a Process Agent; and

• (4) Mr. Chan Wai Ki (‘‘Mr. Chan’’), an executive Director, has been appointed as the Chairman, an Authorised Representative and a Process Agent.

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.

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