Kingwell Group Limited — Board/Management Information 2021

May 18, 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)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF THE BOARD COMMITTEES

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of DeTai New Energy Group Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) is pleased to announce that Mr. Sheung Kwong Cho (‘‘Mr. Sheung’’) has been appointed as an independent non-executive Director and a member of each of the audit committee of the Company (the ‘‘Audit Committee’’), the nomination committee of the Company and the remuneration committee of the Company (collectively referred to as the ‘‘Board Committees’’) with effect from 18 May 2021.

Mr. Sheung, aged 40, holds a Bachelor of Commerce in Accounting from Macquarie University in Australia. He is a member of the Hong Kong Institute of Certified Public Accountants and has more than 15 years of experience in corporate governance, mergers and acquisitions, auditing and financial management. Mr. Sheung is an executive director, the company secretary and an authorized representative of Far East Holdings International Limited (Stock code: 36) and the company secretary of Samson Holding Ltd. (Stock code: 531), securities of both companies are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’). Mr. Sheung is also the company secretary of Shi Shi Services Limited (Stock code: 8181), securities of which are listed on the GEM of the Stock Exchange.

Mr. Sheung 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. He is entitled to an annual director’s fee of HK$120,000 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. Sheung 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 of Hong Kong Limited (the ‘‘Listing Rules’’)). Save as disclosed above, Mr. Sheung has not held any other directorship in the last three years preceding the date of this announcement in public companies the securities of which

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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. Sheung 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 express its warmest welcome to Mr. Sheung in joining the Board.

COMPLIANCE WITH RULES 3.10(1) AND 3.21 OF THE LISTING RULES

Following the appointment of Mr. Sheung as an independent non-executive Director and a member of the Audit Committee, the Company is now in compliance with the requirements under Rules 3.10(1) and 3.21 of the Listing Rules stipulating that the Board must have three independent non-executive Directors and the Audit Committee must comprise a minimum of three members.

By order of the Board DeTai New Energy Group Limited Wong Hin Shek Chairman and Executive Director

Hong Kong, 18 May 2021

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

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