Hybrid Kinetic : CHANGE OF DIRECTORATE AND APPOINTMENT OF CHIEF EXECUTIVE OFFICER

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HYBRID KINETIC GROUP LIMITED

正 道 集 團 有 限 公 司

(incorporated in Bermuda with limited liability)

(Stock code: 1188)

CHANGE OF DIRECTORATE

AND

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

SUMMARY

The Board announces that:

• Dr Song Jian（宋健）has resigned as independent non-executive director of the Company with effect from 31 December 2019; and
• Mr Feng Rui（馮銳）has been appointed as executive director of the Company and chief executive officer of the Group with effect from 1 January 2020.

The board of directors (the "Board") of Hybrid Kinetic Group Limited (the "Company", together with its subsidiaries, the "Group") announces the following changes to the members of the Board:

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Dr Song Jian（宋健）("Dr Song")

Dr Song has resigned as independent non-executive director of the Company with effect from 31 December 2019. The main reason for Dr Song's resignation is that he has been serving the Board as an independent non-executive director for more than 9 years and he believes it appropriate for him to step down from his independent directorship for the purpose of good corporate governance of the Company. Dr Song has confirmed that he has no disagreement with the Board during his term of office and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude to Dr Song for his valuable contribution to the Group during his tenure of office.

Mr Feng Rui（馮銳）("Mr Feng")

Mr Feng, aged 46, has been appointed as executive director of the Company and chief executive officer of the Group with effect from 1 January 2020. He was graduated from the Shanghai University of Finance and Economics majoring in Investment, Economics and Financial Management（投資經濟管理）and holds a Master's degree in Business Administration in Executive Management from Royal Roads University of Canada. Mr Feng is a member of the Shanghai Institute of Certified Public Accountants and has over 28 years of experience in the fields of finance and corporate management. He has joined the Group since August 2014 and is currently the executive vice-president of the Company and a director of certain subsidiaries of the Company.

As at the date of this announcement, Mr Feng has a personal interest in 20,000,000 underlying shares of HK$0.10 each in the Company by virtue of share options granted to him by the Company under the share option scheme currently in force and adopted by the Company on 13 June 2013.

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Mr Feng has entered into a service agreement with the Company for an initial term of two years commencing from 1 January 2020, renewable automatically thereafter for successive terms of one year unless terminated in accordance with the terms thereof. He is subject to retirement by rotation and re-election in accordance with the bye-laws of the Company. Mr Feng, in his capacity as executive director of the Company and chief executive officer of the Group, is entitled to receive HK$160,000 per annum and such other benefits and discretionary bonus as may be determined by and at the discretion of the Board (upon the recommendation of the remuneration committee of the Company) from time to time. The level of Mr Feng's emolument was and will be determined by the Board with reference to his experience, qualifications, duties and responsibilities within the Group and the prevailing market conditions.

As at the date of this announcement and save as disclosed above, Mr Feng:

1. did not hold any other positions with the Company or other members of the Group;
2. has not been a director in any listed public companies in Hong Kong or overseas in the last three years;
3. did not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company; and
4. did not, directly or indirectly, have any interest in any shares or underlying shares in the Company pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, the Board is not aware of any matter in relation to the appointment of Mr Feng that is required to be disclosed pursuant to the requirements of paragraphs (h) to

1. of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited or any other matters that need to be brought to the attention of the shareholders of the Company.

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The Board would like to express its warm welcome to Mr Feng for joining the Board.

By order of the Board

Hybrid Kinetic Group Limited

正道集團有限公司

Yeung Yung

Chairman

Hong Kong, 31 December 2019

As at the date of this announcement, the Board comprises eight executive Directors, namely Dr Yeung Yung (Chairman), Dr Huang Chunhua (Deputy Chairman), Dr Wang Chuantao (Deputy Chairman), Mr Liu Stephen Quan, Dr Zhu Shengliang, Mr Li Zhengshan, Mr Ting Kwok Kit, Johnny and Mr Chen Xiao, one non-executive Director, namely Dr Xia Tingkang, Tim and five independent non-executive Directors, namely Dr Zhu Guobin, Mr Cheng Tat Wa, Dr Li Jianyong, Mr Chan Sin Hang and Mr Lee Cheung Yuet Horace.

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