Sun King Power Electronics : Announcements and Notices - Subscription of New Shares under General Mandate

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 the Cayman Islands with limited liability)

(Stock code: 580)

SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of Sun.King Power Electronics Group Limited (the "Company") dated 21 July 2017 (the "Announcement"). Capitalised terms used herein shall have the same meaning as those defined in the Announcement.

As disclosed in the Announcement, China Venture Capital Fund Corporation Ltd.€ʕ਷਷Ϟ༟͉ࠬᎈҳ ༟ਿږٰ΅Ϟࠢʮ̡has conditionally agreed to, or procure its nominee to, subscribe for 200,000,000 Subscription Shares at the Subscription Price of HK$1.72 per Subscription Share pursuant to the Subscription Agreement. The board (the "Board") of directors (the "Directors") hereby announces that the Company allotted and issued 200,000,000 Subscription Shares to Guojing Capital Limited€਷౺༟ ͉Ϟࠢʮ̡, being the nominee of China Venture Capital Fund Corporation Ltd., on 6 December 2017. Guojing Capital Limited is a wholly-owned subsidiary of China Venture Capital Fund Corporation Ltd.

By Order of the Board

Sun.King Power Electronics Group Limited

Xiang Jie

Chairman

Hong Kong, 6 December 2017

As at the date of this announcement, the executive Directors are Mr. Xiang Jie, Mr. Gong Renyuan and Mr. Yue Zhoumin; the non-executive Directors are Mr. Yan Fuquan, Mr. Zhu Ming and Ms. Zhang Ling; and the independent non-executive Directors are Mr. Chen Shimin, Mr. Zhang Xuejun, Mr. Leung Ming Shu and Mr. Zhao Hang.