Add New Energy Investment Hldngs : Announcements and Notices - Retirement of Director and Auditor at the Annual General Meeting to be Held on 18 June 2019

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Add New Energy Investment Holdings Group Limited

愛 德 新 能 源 投 資 控 股 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 02623)

RETIREMENT OF DIRECTOR AND AUDITOR

AT THE ANNUAL GENERAL MEETING

TO BE HELD ON 18 JUNE 2019

The Board announces that on 17 May 2019, Mr. Lin Chu Chang informed the Board that he would not offer himself for re-election at the AGM due to his family matter. Therefore, the ordinary resolution in respect of the re-election of Mr. Lin as set out in the AGM Notice is no longer applicable and will not be put forward for consideration and approval by the Shareholders at the AGM.

The Board also announces that on 17 May 2019, PwC informed the Board that they decided not to stand for re-appointment as the auditor of the Company for the year ending 31 December 2019 at the AGM.

RETIREMENT OF DIRECTOR AND AUDITOR AT THE ANNUAL GENERAL MEETING

Reference is made to the notice of annual general meeting dated 30 April 2019 (the "AGM Notice") and the form of proxy (the "Proxy Form") issued by Add New Energy Investment Holdings Group Limited (the "Company") in relation to the annual general meeting of the Company to be held on Tuesday, 18 June 2019 at 10:30 a.m. (the "AGM").

The board of Directors (the "Board") announces that on 17 May 2019, Mr. Lin Chu Chang ("Mr. Lin"), an independent non-executive Director, informed the Board that he would not offer himself for re-election at the AGM due to his family matter, and he will retire upon conclusion of the AGM. He will cease to be the chairman of each of the audit committee and remuneration committee of the Company upon his retirement.

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Mr. Lin has confirmed to the Board that he has no disagreement with the Board or the Company and that there is no other matter in respect of his retirement that needs to be brought to the attention of the shareholders of the Company ("Shareholders") and The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Board also announces that on 17 May 2019, PricewaterhouseCoopers ("PwC") informed the Board in writing of their decision not to stand for re-appointment as the auditor of the Company for the year ending 31 December 2019 at the AGM.

PwC has stated in their letter to the Company dated 17 May 2019 that on an annual basis, their normal procedure requires that they assess the continuance of their audit engagements and client relationships. In reaching a conclusion on whether to continue with an audit engagement, they have taken into consideration many factors including professional risk associated with the audit, their available internal resources and the level of audit fees. However, PwC has not provided in its letter a confirmation whether or not there is any circumstance connected with their retirement which they consider should be brought to the attention of the Shareholders and creditors.

Therefore, the ordinary resolutions (i) numbered 3(c) in respect of the re-election of Mr. Lin as an independent non-executive Director and (ii) numbered 2 in respect of the re-appointment of PwC as the auditor of the Company for the year ending 31 December 2019 as set out in the AGM Notice and the Proxy form are no longer applicable and will not be put forward for consideration and approval by the Shareholders at the AGM.

Those Proxy Forms already lodged by Shareholders remain valid except that no poll will be conducted or counted for the ordinary resolutions numbered 3(c) and 2.

Shareholders are reminded to read the AGM Notice, including its notes, for details in respect of other resolutions which will be remain scheduled for consideration and approval at the AGM, eligibility for attending the AGM, proxy and other relevant matters.

The Company would identify suitable auditor to fill up the vacancy as soon as practicable, and further announcement will be made as and when appropriate.

The Board would like to express its appreciation to Mr. Lin for his valuable contribution during his tenure as independent non-executive Director in the Company.

By order of the Board

Add New Energy Investment Holdings Group Limited

Li Yunde

Chairman

Hong Kong, 17 May 2019

As at the date of this announcement, the executive Directors are Mr. Li Yunde (Chairman), Mr. Geng Guohua (Chief Executive Officer) and Mr. Lang Weiguo; and the independent non-executive Directors are Mr. Zhang Jingsheng, Mr. Li Xiaoyang and Mr. Lin Chu Chang.

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