DeTai New Energy : PROFIT WARNING ANTICIPATION OF AN INCREASE IN NET LOSS

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(Incorporated in Bermuda with limited liability)

(Stock Code: 559)

PROFIT WARNING

ANTICIPATION OF AN INCREASE IN NET LOSS

This announcement is made by DeTai New Energy Group Limited (the ''Company'', together with its subsidiaries as the ''Group'') pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The board (the ''Board'') of directors (the ''Directors'') of the Company wishes to inform the shareholders of the Company (the ''Shareholders'') and potential investors that the Group is expected to record an increase in the net loss for the year ended 30 June 2019 as compared to that for the year ended 30 June 2018. The increase in the net loss was mainly attributable to the net off of (i) the absence of the gain on change in fair value of financial liabilities at fair value through profit or loss; (ii) the increase in impairment loss on loans receivable and (iii) the decrease in impairment losses on intangible assets and goodwill.

The information contained in this announcement is only based on the management's preliminary assessment of the draft consolidated management accounts of the Group for the year ended 30 June 2019, which have not been finalised nor reviewed by the Company's audit committee. Details of the Group's results for the year ended 30 June 2019 are expected to be announced by the end of September 2019.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

DeTai New Energy Group Limited

Wong Hin Shek

Chairman and Executive Director

Hong Kong, 18 September 2019

As at the date of this announcement, the executive Directors are Mr. Wong Hin Shek, Mr. Chi Chi Hung, Kenneth 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.