China Dynamics Launches Electric Buses in Davao, Philippines

Expands SEA Markets

Highlights its Technological Edge in New Energy Vehicles

HONG KONG SAR - Media OutReach - 11 December 2020 - China Dynamics (Holdings) Limited (the "Company"; (Stock Code: 476), together with its subsidiaries, collectively "China Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, today launched its electric buses in Davao, the Philippines' third largest city, marking the official use of the electric buses that it delivered earlier, as well as the expansion of the Group's sales network in Southeast Asia and the implementation of its internationalization strategy. The Group also launched its electric buses in Pasay City in Metro Manila at the beginning of this month.

Leveraging the China Dynamics' advanced cloud-based software, the electric buses will be able to deliver efficient, reliable and comfortable transport service to the public in Davao, the Philippines.

Davao City Mayor Ms. Sara Z. Duterte, Mr. Rodger Velasco, President of Davao Light and Power, Mr. Freddie Tinga, President of Global Electric Transport ("GET Philippines"), the first electric bus operator in the Philippines, and Mr. Miguel Valldecabres Polop, CEO of China Dynamics, attended the launch ceremony and witnessed how China Dynamics pioneered public transportation in Davao with its electric buses that are tailor-made for the Philippine market, thus protecting the environment and helping improve traffic in the city.

The electric bus, running on fast-charging lithium ion batteries, is equipped with full air-conditioning and a retractable ramp that has been specially designed to meet the needs of persons with disabilities and the elderly. Leveraging the Group's advanced cloud-based software, which monitors the vehicle's diagnostics to determine potential maintenance issue, thus significantly improving the vehicle safety and performance, the electric bus will be able to deliver efficient, reliable and comfortable transport service to the public.

Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, "The comprehensive development blueprint formulated by the Philippine Government will present enormous opportunities to the new energy vehicles market. Given this, along with the rapid growth of our electric bus and electric vehicles business in other Southeast Asian countries, the Group is expected to obtain more orders for electric buses accordingly. We are accelerating the pace of the Group's sales in other ASEAN countries in a bid to take our business to the next level."

Mr. Cheung Ngan, Chairman of China Dynamics, said, "Development of green transportation has become a global focus. China Dynamics will ride on the global trend in the continuing development of new energy industry and will respond to the needs of the international community by drawing on our technological advantages in new energy vehicles. We will also capture opportunities arising from the environmental protection market to further expand our business to overseas markets. After the launch of the first electric accessible minibus in Hong Kong and the introduction of our electric buses in the Philippines, we will soon deliver 12-metre complete chassis for electric buses to Latin America and logistics vehicles to Europe, thus fulfilling the Group's commitment to contributing to environmental protection and to society."

About China Dynamics (Holdings) Limited (Stock Code: 476)

China Dynamics (Holdings) Limited is a pioneer and practitioner in the field of new energy commercial vehicles in China and a whole vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider, with a solid technological foundation in areas including new energy platform power system and its key components, light structural design, fuel cell system integration technology and intelligent network technology. The Group has two production bases in Chongqing, one in Wulong and the other in Qijiang. Moreover, the Group will actively develop the Hong Kong and overseas bus markets. It has different models of new energy commercial vehicles launched to the market for sale as permitted and announced by the Ministry of Industry and Information Technology.