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Translated:

Announcement Date: 2018-02-02
Securities Code: 002684 Stock Abbreviation: Lion Technologies Announcement No .: 2018-013
Guangdong Mengshi New Energy Technology Co., Ltd.
Announcement on Progress of Signing a "Binding Terms and Conditions" with MetalsTech Limited
The Company and all members of the Board of Directors hereby guarantee that the contents of the information disclosure True, accurate and complete, without any false record, misleading statement or material omission.
I. OVERVIEW OF FOREIGN INVESTMENT
On December 9, 2017, Guangdong Mengshi New Energy Technology Co., Ltd. (hereinafter referred to as "the Company"
or "Mengshi Technology") issued the "Notice on Signing the Terms of Restrictive Transactions with MetalsTech Limited
" . The company with the Australian Stock Exchange listed company MetalsTech Limited (hereinafter
called "MTC") signed a "binding terms of the transaction" (hereinafter referred to as "Terms"), intends to own funds $ 3 million (approximately 1,497.21 ten thousand yuan ) To subscribe for 10 million newly issued shares of MTC.
On January 16, 2018, the Company released the "Notice of Progress on Signing the
Terms of Restrictive Transaction with MetalsTech Limited ." Given the company MTC due diligence has not been completed, according to
the actual progress of the project, by mutual agreement, the company and the MTC signed a "binding terms of the transaction changes the Association of
discussion", the two sides agreed to the company to pay subscription monies by the 2018 deadline January 15 changed to
January 31, 2018 or Lion Technologies and MTC agreed on other dates.
Please refer to the relevant announcement published on the website of Securities Times, China Securities Journal and www.cninfo.com.cn for more details.
On February 1, 2018, the company sent a written notice of termination to MTC to terminate the transaction.
Second, the reasons for termination of foreign investment
After signing the "Transaction Terms", the Company organized technical and legal intermediaries to conduct due diligence on MTC
. As the result of the due diligence can not satisfy the Company, the proposed subscription under the terms of the transaction is not in line with the Company's development strategy. According to the terms of the Transaction Terms, the Company
sent a written notice of termination to MTC on February 1, 2018, Times trading.
Third, the termination of the impact of foreign investment on the company
According to the "terms of the agreement," the agreement, "Termination of Terms", the two sides under the "Terms of the transaction" will be lifted, both parties need not bear the liability for breach of contract. The transaction has not yet signed a formal agreement, the company did not MTC substantial investment, termination of this transaction will not have a substantive impact on the company's production and management and development strategy, there is no damage to the interests of the company and all shareholders.
Please investors rational investment, pay attention to investment risk.
Special announcement.
Guangdong Mengshi New Energy Technology Co., Ltd.
Board of Directors