FDG Kinetic : LETTER OF REQUEST TO RECOGNISE THE NEW JOINT AND SEVERAL PROVISIONAL LIQUIDATORS OF FDG ELECTRIC VEHICLES LIMITED IN HONG KONG AND UPDATE ON WINDING UP PETITION BY SINO POWER RESOURCES INC. AGAINST FDG ELECTRIC VEHICLES LIMITED

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.

FDG Kinetic Limited

五龍動力有限公司

(Receivers and Managers Appointed)

(Incorporated in Bermuda with limited liability)

(Stock Code: 378)

LETTER OF REQUEST TO RECOGNISE THE NEW JOINT AND SEVERAL PROVISIONAL LIQUIDATORS OF FDG ELECTRIC VEHICLES LIMITED IN HONG KONG

AND UPDATE ON WINDING UP PETITION BY

SINO POWER RESOURCES INC. AGAINST FDG ELECTRIC

VEHICLES LIMITED

This announcement is made by FDG Kinetic Limited (Receivers and Managers appointed)(the "Company") pursuant to Rule 13.09 and Rule 13.25(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 9 March 2020, 19 March 2020 and 20 March 2020, the announcements of FDG Electric Vehicles Limited (Provisional Liquidators Appointed)("FDG EV") dated 4 March 2020, 9 March 2020, 12 March 2020, 19 March 2020 and 20 March 2020 and the joint announcements of FDG EV and the Company dated 17 April 2020, 24 April 2020, 14 May 2020, 27 July 2020 and 11 August 2020 (the "Announcements"). Unless otherwise defined, terms used herein shall have the same meanings as defined in the Announcements.

LETTER OF REQUEST TO RECOGNISE THE NEW JOINT AND SEVERAL PROVISIONAL LIQUIDATORS OF FDG EV IN HONG KONG

It was announced in the joint announcement of FDG EV and the Company dated 27 July 2020 that the Bermuda Court had made the Order to appoint the New JSPLs. The Company was informed by FDG EV that on 10 September 2020, the New JSPLs were informed by the lawyer of Sino Power Resources Inc. ("Sino Power"), the Petitioner, that the Bermuda Court had of its own motion determined to re-date the Order to 20 July 2020 under the slip rule.

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Pursuant to an order by the Bermuda Court dated 20 July 2020, a letter of request (the "Letter of Request") should be issued and directed to the High Court of Hong Kong to recognise the New JSPLs in Hong Kong as if the Order had been made and the New JSPLs had been appointed by the High Court of Hong Kong. The Company was informed by FDG EV that on 17 September 2020 (Bermuda time), the Letter of Request was issued by the Bermuda Court to the High Court of Hong Kong.

UPDATE ON WINDING UP PETITION BY SINO POWER RESOURCES INC. AGAINST FDG EV

Pursuant to an order by the Bermuda Court dated 17 September 2020, the hearing of the winding up petition filed by Sino Power has been adjourned to 18 December 2020.

CONTINUED SUSPENSION OF TRADING IN THE SHARES

Trading in the shares of the Company has been suspended since 9:00 a.m. on 2 July 2020 and will continue to be suspended until further notice. Holders of the shares and other securities of the Company and potential investors are advised to exercise caution when dealing in the shares and other securities of the Company.

For and on behalf of

FDG Kinetic Limited

(Receivers and Managers Appointed)

Jaime Che

Chief Executive Officer

Hong Kong, 21 September 2020

As at the date of this announcement, the board of directors of the Company comprises Mr. Jaime Che (Chief Executive Officer) and Mr. Cao Zhong (suspended) as executive directors; and Professor Sit Fung Shuen Victor (Chairman), Mr. Hung Chi Yuen Andrew and Mr. Toh Hock Ghim as independent non-executive directors.

Website: http://www.fdgkinetic.com

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