DeTai New Energy : DELAY IN DESPATCH OF CIRCULAR AND REVISED EXPECTED TIMETABLE IN RESPECT OF THE PROPOSED RIGHTS ISSUE AND CHANGE IN BOARD LOT SIZE

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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

DELAY IN DESPATCH OF CIRCULAR AND REVISED EXPECTED TIMETABLE IN RESPECT OF THE PROPOSED RIGHTS ISSUE AND

CHANGE IN BOARD LOT SIZE

Reference is made to the announcement of DeTai New Energy Group Limited (the ''Company'') dated 3 January 2018 in relation to, amongst others, the proposed Rights Issue on the basis of two (2) Rights Shares for every one (1) existing Share held on the Record Date (the ''Announcement''）. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Announcement, a circular (the ''Circular'') containing, among other things, (i) further details of the Rights Issue; (ii) a letter of recommendation from the Independent Board Committee to the Independent Shareholders; (iii) a letter of advice from the independent financial adviser to the Independent Board Committee and the Independent Shareholders in relation to the Rights Issue; and (iv) a notice convening the SGM would be despatched by the Company to the Shareholders on or before Wednesday, 24 January 2018.

As additional time is required for the Company to prepare and finalise the information to be contained in the Circular, the despatch of the Circular is expected to be postponed to a date on or before Monday, 5 February 2018.

REVISED EXPECTED TIMETABLE OF THE RIGHTS ISSUE

As a result of the delay in the despatch of the Circular, the expected timetable for the proposed Rights Issue and the change in board lot size has been revised as follows:

2018

Expected despatch date of the circular, proxy form and notice oftheSGM ............................................................. Monday,5February

Latest time for lodging transfers of the Shares in order to qualifyforattendanceandvotingattheSGM ................................. 4:30p.m.on

Wednesday, 14 February

Closure of register of members for determination of the identity of the

Shareholders entitled to attend and vote at the

SGM(bothdatesinclusive) ....................................... Thursday,15Februaryto

Friday, 23 February

Latest time for lodging proxy forms for the SGM .............................. 10:00 a.m. on

Wednesday, 21 February

ExpectedtimeanddateoftheSGM ............................................ 10:00a.m.on

Friday, 23 February

Announcement of poll results of the SGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friday, 23 February

Last day of dealings in Shares on a cum-rights basis . . . . . . . . . . . . . . . . . . Monday, 26 February

First day of dealings in the Shares on an ex-rights basis . . . . . . . . . . . . . . . Tuesday, 27 February

Latest time for lodging transfer of Shares in order to qualify fortheRightsIssue ............................................................ 4:30p.m.on

Wednesday, 28 February

Closure of register of members (both days inclusive) . . . . . . . . . . . . . . . . . . Thursday, 1 March to

Tuesday, 6 March

Record Date for determining entitlements to the Rights Issue . . . . . . . . . . . . . . Tuesday, 6 March

Registerofmemberre-opens ............................................ Wednesday,7March

Despatch of Rights Issue Documents (in the case of the Non-

Qualifying Shareholders, the Prospectus only) . . . . . . . . . . . . . . . . . . . . . . . . Wednesday, 7 March

Firstdayofdealinginnil-paidRightsShares ................................... 9:00a.m.on

Friday, 9 March

Latest time for splitting nil-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:30 p.m. on

Tuesday, 13 MarchLastdayofdealinginnil-paidRightsShares ....................................... 4:00p.m.

on Friday, 16 March

Latest Time for Acceptance of and payment for the Rights

Shares and application and payment for excess Rights Shares . . . . . . . . . . . . . . . . 4:00 p.m. on

Wednesday, 21 March

Latest Time for Termination and for the Rights Issue to becomeunconditional ......................................................... 4:00p.m.on

Tuesday, 27 March

Announcement of results of the Rights Issue . . . . . . . . . . . . . . . . . . . . . . . . . . Wednesday, 28 March

Despatch of certificates for fully-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . Thursday, 29 March

Despatch of refund cheques for wholly or partially unsuccessful excess applications or if the Rights Issue isterminated ............................................................ Thursday,29March

Commencement of dealings in fully-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . 9:00 a.m. on

Tuesday, 3 April

Effective date of change in board lot size from 10,000 Shares to30,000Shares ............................................................... 9:00a.m.on

Tuesday, 3 April

Designated broker starts to stand in the market to provide matching servicesforoddlotsofShares ................................................ 9:00a.m.on

Tuesday, 3 April

The last day for the designated broker to provide matching servicesforoddlotsofShares ................................................ 4:00p.m.on

Thursday, 26 April

Dates or deadlines specified in this announcement are indicative only and may be varied by agreement between the Company and the Underwriter. Any consequential changes to the expected timetable will be published or notified to the Shareholders as and when appropriate.

CHANGES OF BOOK CLOSURE PERIODS AND THE RECORD DATE

The Shareholders should note that as a result of the change in the expected timetable:

• (i) the register of members of the Company will be closed from Thursday, 15 February 2018 to Friday, 23 February 2018 (both days inclusive) for determining the identity of the Shareholders entitled to attend and vote at the SGM;

• (ii) the register of members of the Company will be closed from Thursday, 1 March 2018 to Tuesday, 6 March 2018 (both days inclusive) for determining the entitlements to the Rights Issue; and

(iii) the Record Date for determining entitlements to the Rights Issue will be Tuesday, 6

March 2018.

No transfer of Shares will be registered during the above book closure periods.

EXTENSION LETTER IN RELATION TO THE UNDERWRITING AGREEMENT

As a result of the revisions to the expected timetable of the Rights Issue as set out above, on 24 January 2018, the Company and the Underwriter entered into an extension letter to reflect the changes of the relevant dates for the Rights Issue as referred to in the Underwriting Agreement. Save for such amendments, all other terms and conditions of the Underwriting Agreement shall remain unchanged.

By order of the Board

DeTai New Energy Group Limited

Wong Hin Shek Chairman and Executive Director

Hong Kong, 24 January 2018

As at the date of this announcement, the executive Directors are Mr. Wong Hin Shek, Mr. Chi Chi Hung, Kenneth, Mr. Shek Yat Him and Mr. Chan Wai Ki; the non-executive Director is Mr. Chui Kwong Kau; and the independent non-executive Directors are Mr. Chiu Wai On, Mr. Man Kwok Leung and Dr. Wong Yun Kuen.