Member Info for Gdale1997

I am a connection of RB on linkedin, I messaged him a couple of months ago and received no reply. He did view my message but nothing.

http://www.zkty.com.cn/a/202011/497.html

Gards I think that the NOMAD equivalent is Dongxing Securities (Hong Kong) Company Limited. A corporation licensed by the SFC to carry out Type 1(dealing in securities), Type 4 (advising on securities)and Type 6 (advising on corporate finance) regulated activities under the SFO. I might be wrong though, so I am happy to be corrected if anyone knows any better.

Millsm I couldn't agree more something really doesn't sit right with me. I have send emails to 5+ different email addresses with some questions regarding the company and I have never got a response. In addition, I have tried to reach out to RB through several different platforms, I can see that he has read the messages but no response. I've sent a complaint regarding the lack of communication but doubt I hear anything back. The whole situation since transferring to the HKEX just baffles me, marking this investment down as a total loss and a valuable experience.

When people have tried to get in contact with the company, what email addresses have people got responses from?

Thanks in advance

Tried contacting Richard Bennett via email, Twitter and Linkedin with no response to my communication. I have no clue what's going on here currently.

Simms45 I couldn't agree more with your statement, for me this is a lesson learnt and money that I'm going to assume that I have lost. It's comical really how invested board members are in this company, therefore they should have a vested interest in seeing an ascending SP as this will financially benefit them. However, the complete lack of communication with investors and contract updates from the company is an utter shambles. In my personal opinion not releasing contract wins while on AIM was surely breaching some sort of regulatory rules. If they continue on with this farce the next news looks to be final results in the start 2021. If these results do contain contract wins that were included in the share prospectus when listing in HK then this is absolutely ludicrous and something needs to be done to rectify this.

So far I have sent a communication to the following email addresses:

rbennett@zkty.com.cn
xuhj@zkty.com.cn
secretary@zkty.com.cn
Zkty@zkty.com.cn

I have received absolute no response to my communication, including a DM to Richard Bennett on twitter. This whole situation really perplexes me as the BOD are heavily invested in the company. Therefore you'd think that they'd be doing everything in their power to recover the SP. IMO something really doesn't add up here.

I have emailed 4 different email addresses with absolutely no response. I have also DM’d Richard Bennett and nothing.

I still have had no replies back to the communications that I sent. Absolutely disgraceful, I am getting extremely tired of this shocking lack of communication from the company.

Simms when did you send your communication to the company ? And who did you get in contact with?

Very disappointed to not receive a reply to the communication I sent Richard Bennett last week. I understand if the company is busy, however it doesn't take a minute to respond with a recognition of retrieval and a brief comment saying they will respond ASAP. I have sent another email today to Ivy Xu as others helpfully suggested, to see if I can get a response from her. Has anyone else recently been in contact with anyone from the company and received a response?

I found this website https://viresol.hu/en/ , however I don't know if this is related to the plant that we supposedly had equity in.

The last update that I can find from the RNS's, is this:

"The Board is disappointed to learn that the Company’s involvement in the prospective project in Hungary is unlikely to proceed in 2017 due to uncertainties in the European ethanol market and investor finance. CNE invested $250,000 to acquire 24 per cent. of the equity in the project company Visontai Bioetanol Fejleszto Korlátolt Felelosségu Társaság that may now not be recoverable. The Company is evaluating its options and will keep the market appraised."

The strategy of investing in refineries seemed a good idea imo, having a recurring and greater diversified revenue stream.

I have recently been going through all the old RNS's since the company listed on AIM. I noticed that the company acquired a stake in a Hungarian Bio-ethanol plant (see below).

"CNE is pleased to advise that it has exercised this right and subscribed for 24 per cent. of the
equity of Visontai for €250,000. Subject to certain contract provisions, CNE has the right to further enlarge its holding, by acquisition of shares, up to 50 per cent of the equity of Visontai for a further payment of €250,000."

Mr Yu, Chairman of CNE commented, "It has been a strategic goal of CNE for some time to buy into a biorefinery project and deliver a recurring income from the sales of bioethanol. We are delighted to acquire a stake in this European project and look forward to the successful development of the business."

The project was mentioned in subsequent half year and annual results, however I can't find anymore information about the subject matter. Does anyone know if we sold our stake?

I was wondering if anyone has ever been in contact with any of the BOD members? If anyone has, what impression did you get?

Dear Mr Bennett,

I hope that this email finds you well.

Firstly, I would like to congratulate the Board of Directors on their success in relocating the company to the Hong Kong Stock Exchange. Hopefully the move will finally result in the share price reflecting the true value of the company, unlike when it was listed on AIM.

As an investor of China New Energy LTD, I had some queries that I was hoping you could answer for me.

What was the cause of the mass sell off on the first day of trading on the HKEX? Did Double River liquidate their position?
When the Double River loan converted, it resulted in the company holding a 4.34% interest in CNEL. Under the Shareholding Disclosure rules for HKEX this is under the notifiable threshold (5%), which would explain why there was no RNS and a significant holding to crash the share price.

Have the Board of Directors got a strategy in place to get the share price back to the IPO price? If so, what is this strategy?

Does the company look to improve its communication with investors now that it has moved onto its domestic exchange?
When the company was listed on AIM, there was a lack of communication with investors which led to the stagnation of the share price. Previously, we had no update on contract wins. I personally don't think that we need to announce every project, as a lot of them are very small in relation to the revenue brought in. However, I believe we should be getting quarterly operational updates which includes how many we have won etc and all large projects in excess of RMB100 million should individually be RNS'd.

Have any of the large potential contracts from prospectus page 293 been formally signed?
Potential contracts for customers such as Jilin Xintianlong Industrial Co., Ltd, Inner Mongolia Zhongneng Biological Technology and Potential Customer D. If these haven’t been signed do you know when they will? If they are won will the market be updated?

Does the company plan to expand into more geographies to diversify their geographic revenue streams?
From reading previous annual reports and the HKEX offering prospectus I have noticed we have operated in numerous foreign markets (Russian, Canadian, Thailand, Myanmar and Hungarian). However, these non-domestic projects make up an insignificant percentage of our total revenue. Does the company see more non-domestic contract wins in the future?

Does the company believe it will issue a dividend in the near future? If so, what time period are we looking at?

When does the company intend to initiate the pilot schemes for 1.5G and 2G ethanol production?

Apologies for the bombardment of questions and I understand if you can’t answer some due to market regulations. I look forward to hearing from you soon.

Kind regards

I recently sent the email below to Richard Bennett, via the email rbennett@zkty.com.cn. Could someone who's previously contacted him confirm this is the correct email. If I get a response to the email, I will be sure to share it with this board.

I got a response last week about shares being transferred to the third party custodian with HL. The response I got from HL:

"Thank you for your email. The shares are currently being transferred to our global custodian account with HSBC. These will need to settle before they are tradeable. Unfortunately, these transfers can take time and we do not have a clear timescale for when they will settle. Once the transfer is completed, we will notify shareholders."

I know this isn't particularly helpful, however I thought I'd share.

Topmoney I totally agree, if we only sign the inner Mongolian project then our financial year will be back on track. Notice that there has already been a letter of intent signed, personally I believe that the contract has been secured and the confirmation is a matter of formalities.

I personally wouldn't be surprised if we see a large red day tomorrow, profits are significantly down compared to the same time last year and very little revenue growth. However, it is still very positive to be turning a profit, despite the poor economic conditions in H1 of 2020. If we are able to secure those large projects stated in the prospectus, then I expect to see a good set of results come the end of the financial year.

I agree Simms very strange there is no statement, would of been good to get a good overview before the financial data. I personally don't think that we need to announce ever project, as a lot of them are very small in relation to the revenue bought in. However, I believe we should be getting quarterly operational updates which includes how many we have won etc and all large projects in excess of RMB100 million should be RNS'd.