LongiTech Smart Energy : Announcements and Notices -

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LONGITECH SMART ENERGY HOLDING LIMITED

隆 基 泰 和 智 慧 能 源 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1281)

REORGANISATION OF THE BOARD AND

CHANGE OF AUTHORISED REPRESENTATIVES

REORGANISATION OF THE BOARD

The Board announces that as part of the Company's future strategic deployment, the Board will be reorganized with effect from 29 June 2017 as follows:

1. Mr. Wei Qiang will be appointed as chairman of the Board and chairman of the remuneration committee of the Board;

2. Mr. Wei Shaojun will resign as the chairman of the Board and chairman of the remuneration committee of the Board and be re-designated as a non-executive director of the Company;

3. Mr. Li Haichao will resign as an executive director of the Company;

4. Ms. Zhen Xiaojing will resign as an executive director of the Company;

5. Mr. Wang Hui will be appointed as an executive director of the Company; and

6. Dr. Liu Zhengang will be appointed as an executive director of the Company.

CHANGE OF AUTHORIZED REPRESENTATIVES

Following the above reorganisation, the authorized representatives of the Company for the purpose of Rule 3.05 of the Listing Rules will be changed from Mr. Wei Shaojun and Ms. Zhen Xiaojing to Mr. Wei Qiang, an executive director, and Ms. Zou Yanhong, the joint company secretary of the Company.

REORGANISATION OF THE BOARD

The board of directors (the ''Board'') of LongiTech Smart Energy Holding Limited (the ''Company'', together with its subsidiaries, the ''Group'') announces the following reorganization to the Board as part of the Company's future strategic deployment. The reorganization encompasses executives responsible for the day-to-day operations of the Group be appointed as executive directors and enabling them to lead the Group's future development. The Board considers that the reorganization is in the interest of the Company and the shareholders as a whole.

APPOINTMENT OF CHAIRMAN

Mr. Wei Qiang, an executive director and the chief executive officer of the Company, will be appointed as the chairman of the Board and chairman of the remuneration committee of the Board with effect from 29 June 2017. After this appointment, Mr. Wei Qiang will simultaneously be the chairman of the Board and the chief executive officer of the Company. The Board believes that with the Company now being at a stage of rapid development, the current structure could improve the Company's effectiveness and efficiency in reaching its business goals. The Board also believes that this arrangement will not be detrimental to the balance of power and authority between the chairman and the chief executive officer, while a higher ratio of non-executive directors (including independent non-executive directors) will enable the Board to make unbiased judgments more effectively.

RE-DESIGNATION OF DIRECTOR

Mr. Wei Shaojun, an executive director and the chairman of the Company will resign as the chairman of the Company and chairman of the remuneration committee of the Board and be re-designated as a non-executive director of the Company. The biographic details of Mr. Wei Shaojun are set out below:

Mr. Wei Shaojun (魏少軍先生), aged 53, joined the Company as the Chairman, an executive Director and Chief Executive Officer in January 2015. Mr. Wei resigned as Chief Executive Officer on 11 November 2015. Mr. Wei is the founder, the controlling shareholder and the chairman of Longjitaihe Industry Co., Ltd. (together with its subsidiaries collectively, the ''Longjitaihe Group'') which is engaged in integrated diversified industries including real estate development, commercial operations and new energy and Mr. Wei has approximately 20 years of experiences in real property development business operation and business management. Mr. Wei is a member of the 12th National People's Congress, a member of the 9th and 10th Hebei Province Committee of the Chinese People's Political Consultative Conference (CPPCC), a National Model Worker, and the vice chairman of the 11th Hebei Province Federation of Industry & Commerce.

Mr. Wei has entered into a service contract with the Company for a term of three years, and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Mr. Wei will not receive any emolument as a non-executive director of the Company.

Mr. Wei is the father of Mr. Wei Qiang, an executive director and the chief executive officer of the Company. Save as disclosed, Mr. Wei has no other relationship with any directors, senior management or substantial shareholders of the Company. As at the date of this announcement, Mr. Wei is beneficial interested in 474,251,512 shares of the Company, representing approximately 61.33% of the issued share capital of the Company as at the date of this announcement.

Save for his directorship in the Company, Mr. Wei has not been a director of any other listed companies in the past three years preceding the date of this announcement.

Mr. Wei has confirmed that he has no disagreement with the Board and there is no matter relating to his re-designation that needs to be brought to the attention of the Shareholders of the Company.

Mr. Wei has not been involved in any of the events under Rule 13.51(2)(h) to (v) of the Listing Rules and there are no other matters in relation to the re-designation of Mr. Wei as a non-executive director that need to be brought to the attention of the shareholders of the Company.

RESIGNATION OF EXECUTIVE DIRECTORS

Mr. Li Haichao and Ms. Zhen Xiaojing will resign as executive directors of the Company with effect from 29 June 2017 to allow them to devote more of their time on the management and operation of the business of the Longjitaihe Group.

Each of Mr. Li and Ms. Zhen has confirmed that he/she has no disagreement with the Board and there is no matter relating to his/her resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its gratitude to Mr. Li and Ms. Zhen for their valuable contributions to the Group during their terms of office.

APPOINTMENT OF EXECUTIVE DIRECTORS

The Board is pleased to announce the appointment of Mr. Wang Hui and Dr. Liu Zhengang as executive directors of the Company with effect from 29 June 2017. The biographical details of Mr. Wang and Dr. Liu are set out below:

Mr. Wang Hui (王輝先生), aged 35, is currently the chief financial officer of the Company. Mr. Wang joined the Company in October 2015. Mr. Wang has over 12 years of experience in the capital market, corporate finance and bank financing in Hong Kong and Mainland China.

Prior to joining the Company, Mr. Wang served in various financial institutions including Standard Chartered Bank, UBS, Credit Suisse and China International Capital Corporation where he executed transactions on initial public offering, merger and acquisition, overseas bond offering and overseas bank financing. Mr. Wang holds a bachelor's degree in Economics from Fudan University.

Mr. Wang has entered into a service contract with the Company for a term of three years, and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Mr. Wang will not receive any director fee but will receive emolument of HK$2,600,000 per annum as the chief financial officer of the Company.

Mr. Wang has no relationship with any Directors, senior management or substantial shareholders of the Company. As at the date of this announcement, Mr. Wang is interested in 3,441,000 shares of the Company, and 1,000,000 share options which are exchangeable into shares of the Company.

Mr. Wang has not been a director of any listed companies in the past three years preceding the date of this announcement.

Mr. Wang has not been involved in any of the events under Rule 13.51(2)(h) to (v) of the Listing Rules and there are no other matters in relation to the appointment of Mr. Wang as an executive director that need to be brought to the attention of the shareholders of the Company.

Dr. Liu Zhengang (劉振剛博士), aged 42, joined the Company as the operations vice president in November 2015. He is primarily responsible for business plans, market research, technology development and resource-pooling of the Company's smart energy business. Dr. Liu has over 13 years of experience in optoelectronic technology and quality management and the design, construction, operation and maintenance management of photovoltaic power plants. Dr. Liu joined Lightway

Company in June 2012 and was appointed as vice president of operations. From 2008 to 2012, Dr. Liu worked at the Institute of Electrical Engineering Chinese Academy of Science (中科院電工所) as a

deputy research associate in solar cell technology. From 2005 to 2008, he worked as a senior engineer at Haier Group Central Research Institute (海爾集團中央研究院) in Qingdao, China. From 1998 to

2000, Dr. Liu studied a master course in Organic Chemistry at the Shandong University, and began his doctorate in advance in 2000. Dr. Liu obtained his doctorate in Inorganic Chemistry in 2003. From

2003 to 2005, Dr. Liu began researching at the School of Physics of Peking University (北京大學物理

學院) as a postgraduate doctor.

Dr. Liu has entered into a service contract with the Company for a term of three years, and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Dr. Liu will not receive any director fee but will receive emolument of RMB1,256,600 per annum as a vice president of the Company.

Dr. Liu has no relationship with any Directors, senior management or substantial shareholders of the Company. As at the date of this announcement, Dr. Liu is interested in 1,000,000 share options of the Company.

Dr. Liu has not been a director of any listed companies in the past three years preceding the date of this announcement.

Dr. Liu has not been involved in any of the events under Rule 13.51(2)(h) to (v) of the Listing Rules and there are no other matters in relation to the appointment of Dr. Liu as an executive director that need to be brought to the attention of the shareholders of the Company.