China Titans Energy Technology : Announcements and Notices - DISCLOSEABLE TRANSACTION - REDEMPTION OF THE FUND

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China Titans Energy Technology Group Co., Limited ʕ਷इվঐ๕ҦஔණྠϞࠢʮ̡*

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 2188)

DISCLOSEABLE TRANSACTION

REDEMPTION OF THE FUND

THE REDEMPTION

On 29 December 2017, Titans Power Electronics, being a wholly-owned subsidiary of the Company, has served a notice of redemption to redeem its entire interests in the class C fund units of the Fund.

As one or more of the applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) in respect of the Redemption exceed(s) 5% but less than 25%, the Redemption constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

Reference is made to the announcement of the Company dated 20 October 2017 (the "Announcement") where the Company announced that on 20 October 2017, Titans Power Electronics had submitted an online application for subscription for the class C fund units of the Fund at a subscription amount of RMB10 million.

DECLARATION OF DIVIDEND

Pursuant to the notice issued by the Fund in respect of the declaration of dividend, a dividend of RMB1 per 10 units of the class C fund units of the Fund was declared. Hence, the Dividend in the amount of RMB841,255 was declared to Titans Power Electronics in respect of its interests in the class C fund units of the Fund and the said amount shall be settled in cash on 2 January 2018.

THE REDEMPTION

Pursuant to the private offering memorandum of the Fund, a notice of redemption may be served at any time during the trading hours of the Shanghai Stock Exchange or that of the Shenzhen Stock Exchange. No redemption fee will be charged on the redemption of the class C fund units of the Fund which have been held by the investor for 60 days or more. The redemption price per unit of the class C fund units of the Fund is equal to its net asset value per unit as at the date of the redemption notice (after trading hours).

The Board announces that, on 29 December 2017, Titans Power Electronics has served a notice of redemption to redeem its entire interests in the class C fund units of the Fund. The proceeds from the Redemption is RMB9,247,917 (at the redemption price of RMB1.0993 per unit) and shall be settled within 7 Business Days after the notice of redemption has been accepted. The Dividend and the proceeds from the Redemption are intended to be used as the general working capital of the Group. After the Redemption, Titans Power Electronics will cease to hold any interests in the Fund.

It is expected that the Group will record a loss of RMB752,082 from the Redemption, being the difference between the proceeds of the Redemption and the subscription amount of the Subscription without taking into account of the Dividend in the amount of RMB841,255. The actual gain or loss as a result of the Redemption to be recorded by the Group is subject to audit.

It is expected that the Group will record a gain of RMB89,172 from the investment in the class C fund units of the Fund, being the difference between (i) the realised loss on the Redemption; and (ii) the other revenue arising from the Dividend. The abovementioned amounts are subject to audit.

INFORMATION ON THE FUND AND THE FUND MANAGER

The Fund is structured to achieve long-term and sustainable capital gain by, subject to certain investment restrictions, investing in financial instruments with high liquidity, including but not limited to, shares listed on the stock exchanges in the PRC, equity investment instruments, bonds, convertible bonds, asset backed securities, bank savings and other financial instruments permitted by the CSRC.

To the best of the knowledge, information and belief of the Directors, the Fund Manager is a company established in the PRC with limited liability with the approval of the CSRC. Its permitted scope of business includes fundraising, sale of fund, assets management and other business permitted by the CSRC. As at the date of this announcement, to the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, the Fund Manager and its respective ultimate beneficial owners are Independent Third Parties. Please refer to the Announcement for further details of the Fund and the Fund Manager.

INFORMATION OF THE GROUP

The Company is a company incorporated in the Cayman Islands with limited liability, the Shares of which are listed on the Main Board of the Stock Exchange. The principal business activity of the Company is investment holding.

The Group is principally engaged in research and development, production and sale of electrical direct current (DC) products, charging equipment for electric vehicles and power grid monitoring and management products. At the same time, the Group is also engaged in the planning, design, investment and construction, engineering services, operating services and other value-added services in relation to charging facilities of new energy vehicles.

REASONS FOR AND BENEFITS OF THE REDEMPTION

As disclosed in the Announcement, the purpose of the Subscription is to enhance the return on idle cash for the Group. Taking into account the terms of the Redemption, the Dividend declared and the need of working capital in future, the Directors consider that the Redemption represents a suitable opportunity to realise the Group's investment and would enhance the Group's consolidated financial position.

The Directors consider that the terms of the Redemption are fair and reasonable and the Redemption is in the interests of the Company and its Shareholders as a whole.

LISTING RULES IMPLICATIONS

As one or more of the applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) in respect of the Redemption exceed(s) 5% but less than 25%, the Redemption constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

DEFINITION

In this announcement, unless the context requires otherwise, the following expressions have the following meanings:

"Board" the board of Directors

"Business Day(s)"

a day on which the Shanghai Stock Exchange and Shenzhen Stock Exchange are open for the business of dealing in securities

"Company"	China Titans Energy Technology Group Co., Limited (ʕ਷
इվঐ๕ҦஔණྠϞࠢʮ̡*), a company incorporated in
the Cayman Islands with limited liability, the issued Shares
of which are listed on the Main Board of the Stock Exchange
(Stock code: 2188)
"CSRC"	China Securities Regulatory Commission
"Directors"	the directors of the Company
"Dividend"	the dividend in the amount of RMB841,255 declared to
Titans Power Electronics in respect of its interests in the
class C fund units of the Fund
"Fund"	Tebon Xintianli Bond Securities Investment Fund* (ᅃԞอ
૴лවՎۨᗇՎҳ༟ਿږ)
"Fund Manager"	Tebon Fund Management Company Limited* (ᅃԞਿږ၍
ଣϞࠢʮ̡), a company established in the PRC with
limited liability
"Group"	the Company and its subsidiaries
"Hong Kong"	the Hong Kong Special Administrative Region of the PRC
"Independent Third	any entity(ies) or person(s) which or who is/are not a
Party(ies)"	connected person of the Company within the meaning
ascribed thereto under the Listing Rules
"Listing Rules"	the Rules Governing the Listing of Securities on the Stock
Exchange
"PRC"	The People's Republic of China
"Redemption"	the redemption for the entire interests in the class C fund
units of the Fund held by Titans Power Electronics
"RMB"	Renminbi, the lawful currency of the PRC
-4-

"Share(s)"	the ordinary share(s) of HK$0.01 each in the share capital of
the Company
"Shareholder(s)"	holder(s) of the shares of the Company
"Stock Exchange"	The Stock Exchange of Hong Kong Limited
"Subscription"	the subscription for the class C fund units of the Fund with
the subscription amount of RMB10 million
"Titans Power Electronics"	Zhuhai Titans Power Electronics Group Co., Ltd* (मऎइվ
ཥɢཥɿණྠϞࠢʮ̡), a company established in the PRC
with limited liability and a wholly-owned subsidiary of the
Company as at the date of this announcement
"%"	per cent
Hong Kong, 29 December 2017

By Order of the Board

China Titans Energy Technology Group Co., Limited

Li Xin Qing

Chairman

As at the date of this announcement, the Board comprises two executive Directors, namely Mr. Li Xin Qing and Mr. An Wei; and three independent non-executive Directors, namely Mr. Li Wan Jun, Mr. Zhang Bo and Mr. Pang Zhan.

*

For identification purpose only