Add New Energy Investment : COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

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Add New Energy Investment Holdings Group Limited

愛 德 新 能 源 投 資 控 股 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 02623)

COMPLETION OF PLACING OF NEW SHARES

UNDER GENERAL MANDATE

Sole Placing Agent

Reference was made to the announcement of Add New Energy Investment Holdings Group Limited (the "Company") dated 16 September 2019 in relation to the Placing (the "Announcement"). Unless otherwise defined, capitalized terms used in this announcement shall bear the same meanings as those defined in the Announcement.

The Placing was completed on 2 October 2019 in accordance with the Placing Agreement. An aggregate of 447,220,000 Placing Shares have been placed to not less than six Placees who are independent third parties, at the Placing Price of RMB0.081 (equal to HK$0.09) per Placing Share.

None of the Placees became substantial shareholders (as defined under the Listing Rules) of the Company as a result of the Placing.

The net proceeds from the Placing was approximately RMB35.25 million (equal to HK$38.82 million). The net price for the Placing was approximately RMB0.079 (equal to HK$0.087) per Share.

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EFFECTS ON SHAREHOLDING STRUCTURE OF THE COMPANY

The shareholding structure of the Company before and upon completion of the Placing are set out as below:

Notes:

1. These include (i) 2,048,138,660 Shares held through Hongfa Holdings Limited, a company wholly and beneficially owned by Mr. Li Yunde, the Chairman and an executive Director, and (ii) 122,058,000 Shares personally held by Mr. Li.
2. These include 650,000 Shares held through Novi Holdings Limited and 18,050,000 Shares held through All Five Capital Limited, both companies are wholly and beneficially owned by Mr. Lang Weiguo, an executive Director.

By order of the Board

Add New Energy Investment Holdings Group Limited

Li Yunde

Chairman

Hong Kong, 2 October 2019

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Li Yunde (Chairman), Mr. Geng Guohua (Chief Executive Officer) and Mr. Lang Weiguo; and three independent non-executive Directors, namely Mr. Zhang Jingsheng, Mr. Li Xiaoyang and Mr. Leung Nga Tat.

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