In relation to its sale of firms enagaged in seafood trading business and seafood processing business, China New Energy Power (HKG:1041) said that it has entered into a second supplemental deed on 5 January 2012, pursuant to which the parties thereto have agreed that the purchaser shall repay the remaining amount of HK$25 million due to China New Energy Power with date(s) falling on or before 20 March 2012, of which a sum of HK$2.5 million shall be paid on or before 5 January 2012, a further sum of HK$10 million shall be paid on or before 20 January 2012 and the remaining balance of HK$12.5 million shall be paid on or before 20 March 2012.

The parties thereto further agree that the purchaser shall be liable to pay the vendor interest on the remaining amount at the rate of 6% per annum calculated on a daily basis from 28 December 2011 to the date of payment and that the purchaser shall pay interest on a monthly basis on the business day immediately preceding the 18th day of each month.

In 2009, China New Energy Power agreed to sell firms enagaged in seafood trading business and seafood processing business for a consideration of HK$165 million to a connected party. It is expected that the company will realise a loss before expenses from the disposal of approximately US$3.619 million (HK$28.047 million).