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Nov 28, 2016
COMPLETES ACQUISITION ON ONE NISEKO RESORT TOWERS, HOKKAIDO


COMPLETES ACQUISITION ON ONE NISEKO RESORT TOWERS, HOKKAIDO

Hong Kong, 25 November 2016 – DeTai New Energy Group Limited (“DeTai New Energy Group” or the “Company”, together with its subsidiaries, the “Group”) (HKEx stock code: 559) announced the completion of acquisition of a hotel property in the scenic destination of Hokkaido, Japan, namely ONE Niseko Resort Towers.

Situated in the popular skiing and family holiday destination of Niseko, Hokkaido, the ONE Niseko Resort Towers provides a two-tower complex of approximately 110 rooms of high end accommodation. The resort offers a wide array of hotel services ranging from skiing holiday makers and families packages, corporate business meeting space and off site packages, long-stay rental program, signature spa and onsen services, Food & Beverage outlets and a variety of local guided tour and activity packages.

Commenting on this, Mr. Wong Hin Shek, the Chairman of the Group said,” Niseko is one of the famous ski resort areas in Japan. In recent years, Niseko has become a year round resort destination and is experiencing rapid growth in foreign visitors and interest especially from the Greater China region and South East Asia.” Mr. Wong added, “We are thrilled to operate a highly valued Japanese hospitality asset in Niseko. From this hotel acquisition, the Group has further diversified our core business portfolio in the Asia Pacific region and broadened the income streams and asset base.”

About DeTai New Energy Group Limited DeTai New Energy Group Limited (stock code: 559.HK) is committed to developing a business diversification strategy, and is principally engaged in electric cycle business, liquor and wine business, investments in listed securities, and provision of money lending business. The group has expanded its core business in hotel property investment and hospitality industry operations in the Asia Pacific region. DeTai New Energy Group Limited will continue to seize other growth opportunities to enhance competitiveness with focus to expand its new energy business.

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