DeTai New Energy : FURTHER DELAY IN DESPATCH OF THE CIRCULAR IN RELATION TO DISCLOSEABLE AND EXEMPTED CONNECTED TRANSACTION

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

FURTHER DELAY IN DESPATCH OF THE CIRCULAR IN RELATION TO DISCLOSEABLE AND EXEMPTED CONNECTED TRANSACTION

Reference is made to the announcements of DeTai New Energy Group Limited (the ''Company'') dated 15 July 2019, 5 August 2019 and 19 August 2019 respectively in respect of the Deed of Settlement and variation of terms of a major and exempted connected transaction in relation to the disposal of 49% equity interest in Perfect Essential Holdings Limited (the ''Announcements''). Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

As disclosed in the Announcements, a circular containing, among other things, (i) further details in relation to the Deed of Settlement and the transactions contemplated thereunder;

1. other information as required by the Listing Rules; and (iii) the notice convening the SGM together with the proxy form in respect of the SGM, is expected to be despatched to the Shareholders on or before 2 September 2019.

As additional time is required for the Company to prepare and finalise, among other matters, the information to be contained in the circular, the despatch date of the circular is expected to be delayed to a date falling on or before 16 September 2019.

By order of the Board

DeTai New Energy Group Limited

Wong Hin Shek

Chairman and Executive Director

Hong Kong, 2 September 2019

As at the date of this announcement, the executive Directors are Mr. Wong Hin Shek, Mr. Chi Chi Hung, Kenneth, Mr. Chan Wai Ki and Mr. Chan Wing Kit; 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.