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CONFIDENTIAL MATERIALS

IDG Energy Investment (650.HK) FY 2017 Annual Results

June 2018

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IDG Energy Investment - Global Energy Assets Investment and Management Expert

Best-in-class energy assets manager

Quality energy assets portfolio

Strong shareholders’ endorsements and fund raising capacity

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Top-tier energy investment team

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• Best-in-class energy assets investment manager• Diversified investment: direct investment plus energy fund

management*• Business model: value chain investment + active investor + full

investment cycle (fundraising, investment, management and exit)• Research-oriented: 1st class energy sector research capacity

• Leading energy investment team in the industry• Experienced in energy sector: oil & gas industry veterans• Sophisticated execution capability: track record of tremendous

large-size investment / M&A transactions execution experience

• Sector focus: oil and gas industry / LNG value chain• Regional focus: cross-border opportunities between China and

North America, with a China angle• Existing portfolio: upstream oil & gas assets, LNG export terminal

and LNG receiving terminal• Near-term investment strategy: To capture huge opportunities

arising from the dynamic natural gas markets in China and NorthAmerica, continue penetrating in LNG value chain

A SEHK Mainboard listed company (650.HK) focusing on energy assets investment and management

• An affiliate of IDG Capital: IDG Capital is one of the most successful private equity firm in China, with unparalleled investment performance and fundraising capability

• Foxconn as second largest shareholder: Robust business resources and network globally

*Proposed business

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Milestones – Rapid Transition and Business Development

• Reverse takeover offering of “Shun Cheong” (650.HK), predecessor of the Company, with HK$2.94 billion raised and previous hotel business disposed

• Acquired an Inner Mongolia oilfield asset

• Renamed as “IDG Energy Investment”

• Completed investment in a shale oil block in Eagle Ford of the U.S.

• Invested in one of the largest LNG export terminals under development in Canada

• Issued new shares to Foxconn and raised HK$1.49 billion. Foxconn became 2nd

largest shareholder with shareholding of 24.37%

• Invested in Jiangxi JovoEnergy Co. Ltd., China’s first private LNG receiving terminal operator, marking the Company’s 1st step in the entire gas value chain

2017.01

2016.07

2017.07 2018.01

2017.09 2018.02 2018.06

• Invested in one of the most viable LNG export terminals in the U.S. and continue to penetrate LNG value chain

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1993 IDG Capital became the first global

investment firm to enter China

1999 first adopted partnership structure

2010 approved by the NDRC, IDG Capital became

one of the first fund management companies to

manage funds for the National Council for Social

Security Fund (SSF)

For the past 25 years, IDG Capital has grown to be

a diversified investment firm in China covering all

stages of investment, namely start-up, growth,

maturity, M&A, pre-IPO and post-IPO

To date, IDG Capital has invested in more than

700 companies and made over 150 successful

exits across the globe through IPOs and M&A

Investment footprint over 40 cities in China,

forming an unique and extensive project network.

Over 85% of the companies invested were

discovered actively by the investment team. It has

led first round fundraising for over 70% of the

companies it has invested

One of the largest fund managers in China, IDG

Capital is trusted and supported by both top

domestic and international institutional investors,

which include endowment funds, pension funds,

funds of funds, sovereign wealth fund, banks and

insurance companies, industrial capitals, family

offices, and government guidance funds, etc.

IDG Capital’s accumulated AUM has been

approximately US$20 billion covering a broad

range of industries such as Technology, Media and

Telecommunications (TMT), Culture and

Entertainment, Healthcare, Consumption Upgrade,

Advanced Manufacturing/Clean-Tech and Energy

IDG Capital is one of the earliest and largest private equity investment firms in China

36.77%24.37%

other shareholders

38.86%

Shareholding Structure

* *

* With affiliated companies

Shareholding Structure

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Foxconn Group is the world's largest electronics manufacturing service provider, with over

1 million employees and the world's top clientele. It ranked 27th among 2017 Global

Fortune 500

In recent years, Foxconn has invested in areas such as digital content, automotive parts

and components, channels, cloud computing services, new materials, and new energy

In the beginning of 2018, Foxconn invested HK$ 1.49 billion in the Company and became

our 2nd largest shareholder, stretching its presence in the gas and energy sectors

•Helping secure long-term gas supply contracts for customers in LNG end-user market of China

•As an electronic product manufacturer, Foxconn itself is also a large energy end-user.

Extensive energy end-user resources

•Gaining supports from local governments in North America through the influence of Foxconn

•Helping obtain tax incentives for projects in North America

Powerful global and North- America business connection

•Synergy from Foxconn’s energy logistic business

•Synergy and support in energy trading

Synergy and support on energy logistics

Significance of Foxconn’s investment in the Company

Shareholding Structure (cont’d)

36.77%24.37%

other shareholders

38.86%

Shareholding Structure

* *

* With affiliated companies

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Top-tier Energy Investment and Management Team

Vice President Mr. Hao worked with KKR-Yanchang

Global Energy Fund L.P. as GP Capital with long years ofinvestment experience in energy assets, specializing in oiland gas. Mr. Hao holds a bachelor's degree in engineeringfrom Beihang University and a master’s degree fromUniversity of Pennsylvania.

Xiang Hao

Vice President Mr. Lee was a senior management

member of global fracturing technical supports inSchlumberger and chief fracturing expert of its APACregion. He managed well completion works for over 1,000wells in over 10 countries including China and US. Mr. Leegraduated from Oklahoma University with a master'sdegree.

Khay Kok Lee

CFO Mr. Tan has led and participate over US$2.5 billion

domestic and overseas fundraising and investment projectsfor IDG Capital. . He worked as a manager at PWC corporateM&A service department. Mr. Tan graduated from RenminUniversity of China with a bachelor’s degree in finance and afellow member of the Association of Chartered CertifiedAccountants.

Jue Tan

President Mr. Liu has previously led and participated a

number of energy asset M&A, investment and managementprojects in IDG Capital. During his tenure in Accenture, aglobal consulting firm, Mr. Liu provided consulting serviceson strategies, M&A, management and operation fordifferent large-scale oil and gas groups. Mr. Liu graduatedfrom the School of Mathematics Science at Peking Universitywith a bachelor’s and a master’s degree in Science.Zhihai Liu

Chairman & CEO Dr. Wang previously worked in ExxonMobil Corporation, the world‘s largest integrated oil and gas company, to conduct the

research and development of a number of new geophysical exploration technologies, rapid drilling control systems, and reservoir simulationtechnologies. He led and participated investment and management of numerous energy and infrastructure projects when he was in D.E. Shaw, areputable Wall Street investment firm. Also, he managed IDG Capital's mature projects investment, large-scale M&A projects, as well as energyprojects and led investment and capital restructuring in numerous cross-border M&A. Dr. Wang holds a bachelor's degree from TsinghuaUniversity, a doctorate degree from Cornell University, and an MBA from New York University. He is the committee member of the 12th All-ChinaYouth Federation.

Expertise in energy sector Capacity in cross-border M&A and investment

Extremely high professional threshold in Energy sector

Extensive experiences in China and US leading oil and gas

companies, with thorough insights in energy sector

Profound capacity in oil and gas investment research

• Energy investment transactions are complex and requireextremely high calibers in technical, legal, fiscal, and compliancein capital markets

• Team members are all from top investment banks, PEs andfinancial institutions

• The team has plenty of successful experiences in energyinvestment and M&A

Top-tier Team

Jingbo Wang

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Business Model - Focus on Diversified Energy Investments

Direct Investment in Energy Sector

Energy Investment Funds Management*

Equity Investment:Value chain synergyInvestment income

M&A:Asset management

Cost reduction and efficiency optimization

Management Fee*

Carry*

Financing and FundraisingDiversified Cross-border Investment

Synergy/Management Efficiency

Economics of scale Industry financing Global perspective Value discovering

low-cost upstream oil and gas assets

Cross-border investments in LNG value chain

Current Portfolio

*Proposed business

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Current Portfolio Snapshot

Upstream Shale Oil Field in the US

LNG Receiving Terminal in China

Upstream Oil Field in China

LNG Export Terminal in

Canada

o Block Type: Shale oil/ shale gas

o Block Area: 103 km2

o Block Location: Eagle Ford, Texas

o Net 2P Reserves: 30.1 mmboe

o 2017 Production: 3,988 boe/day

o 2017 Revenue: US$53.4 million

o Block Type: Light/medium crude oil

o Block Area: 590 km2

o Location: Inner Mongolia ErlianBasin

o Net 2P Reserves: 15.5 mmbbl

o FY2017 Production: 1,007 bbl/day

o FY2017 Revenue: HK$123 million

o Terminal Location: Dongguan, Guangdong

o LPG Throughput: 1.5 mmtpa

o LNG Throughput: 1.5 mmtpa

o Income in 2017: over RMB 10 billion

o Total Asset: over RMB 4 billion

o Total employee: over 2,000 employees

o Terminal Location: Quebec, Canada(Energie Saguenay project)

o Budgeted Annual Export Capacity: 11 mmtpa

o Budgeted Gas Import: 1.6 billion ft3/day

o Planned construction period: Q4 2020

o Planned on stream period: Q4 2024LNG Export

Terminal in the US

o Terminal Location: Lake Charles, Louisiana, US (Magnolia project)

o Estimated Annual Export Capacity: 8 mmtpa

o Approved Annual Export Capacity: 8 mmtpa

o Signed long-term offtake contract: 2 mmtpa

o Planned Construction Period: 1H 2019

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Investments in Upstream Oil and Gas Assets –Low-cost entry, creating value by reducing cost and enhancing reserves

Domestic Upstream Crude Oil Project

Acquisition completed in July 2016

A consideration of ~US$86 million for

100% stakes

Net 2P reserve NPV 10*: US$115 million

Consideration/1P reserves: US$10.6/boe

Consideration/2P reserves: US$7.5/boe

18.313.1

OPEX (US$/bbl)

FY2016 FY2017

Down 28%

12.215.5

Net 2P reserves (mmbbl)*

2017.3.31 2018.3.31

Up 27%

Net 2P

reserves

NPV10*:

US$208

million

BrentPrice

77

123

Revenue (HK$mm)

FY2016 FY2017

Up 61%

8111,007

Daily production (bbl/day)

FY2016 FY2017

Up 24%

* Based on independent technical consultant (Competent Person) assessment results

Sources: Company data, ICE

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Investment in Upstream Oil and Gas Assets –Low-cost entry, creating value by reducing cost and enhancing reserves (cont’d)

24.330.1

Net 2P Reserves（mmboe）*2017.3.31 2018.3.31

UP 24%

BrentPrice

Net 2P

Reserves

NPV10*:

US$240

million

Sources: Company data, ICE, BMO, Jefferies

US Upstream Shale Oil and Gas Project (Eagle Ford Region)

Investment completed in September 2017

Structured term loan investment of US$175 million,

with interest rate of 8% per annum and 92.5% disposal

interests upon disposal

Net 2P reserve NPV 10*: US$211 million

Consideration/1P Reserves：US$7.4/boe

Consideration/2P Reserves：US$7.2/boe

Date Buyer Seller Consideration ($mm)Consideration/1P Reserves

（$/boe）

2018/4/2 NextEra Energy Inc Comstock $125 $14.12

2018/1/24 El Dorado Resources SilverBow Resources $35 $7.50

2017/12/20 Venado Oil & Gas Cabot Oil & Gas $765 $13.38

2017/2/1 EV Energy BlackBrush Oil & Gas $59 $9.17

2017/1/24 Hawkwood Energy Halcon Resources $500 $22.94

2017/1/12 Sanchez, Blackstone Anadarko $2,300 $7.67

Mean $12.46

Median $11.28US Eagle Ford Region Comparable Transactions in Recent Two Years

11.821.4

2017

OPEX(US$/boe)

OPEX+DD&A(US$/boe)

* Based on independent technical consultant (Competent Person) assessment results

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China LNG Import Terminal(Jovo Dongguang Receiving Terminal)

Investment since July 2017 HK$115 million of investment amount

Highlights: China’s 1st private LNG receiving terminal operator and an internationally recognized LNG market player. Long term and low cost Take or Pay Contract already inked with the price significantly lower than the competitors

LNG Import Channel

US LNG Export Terminal (Magnolia Project)

Investment since June 2018 HK$167 million of

investment amount

Highlights: One of the most viable LNG export terminals in the US that has obtained all necessary approvals from the US Department of Energy (DOE) and the Federal Energy Regulatory Commission (FERC)

China Natural Gas Demand (‘00mil m3)

433 788

933

1,202 443

678

258

356

2016 2020E

Transport & Others

Residential & Commercial

Industrial

Power Generation & Heating

360

720

2016 2020E

China LNG Import(‘00mil m3)

Canada LNG Export Terminal(Energie Saguenay Project)

Investment since Feb 2018 HK$25 million of investment

amount

• Highlights: one of the largestLNG export stations in Canadaunder development stage. It isexpected to be Canadian 1st

FID LNG export terminal

China Domestic Gas Production (‘00mil m3)

1,397 1,778

2016 2020E

417

645

2016 2020E

China Pipeline Gas Import (‘00mil m3)

Investment in LNG Value Chain –Focusing on China and US Natural Gas Market’s Strategic Opportunities

Sources: Company, SIA Energy

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Investment in LNG Value Chain –Focusing on China and US Natural Gas Market’s Strategic Opportunities (cont’d)

Near term investment strategies - LNG value chain

Short of DomesticSupply

Domestic production does not meet domestic demand. By 2020, an estimated 41% ofnatural gas supply will come from imports and the reliance on imports will continue togrow.

Abundant Global Supply

Inland China relies on pipeline gas imports, while southeast coastal area relies on LNGimports. By 2017, China’s LNG imports had exceeded pipeline gas imports.

Upside of NorthAmerican Export

North America has abundant low-cost natural gas supply as the results of shale gas revolution. Relatively low project execution risks and stable low-cost supply will pave the way for North-America to become the world’s largest LNG exporting region.

Environmental pressure and structural reform on energy sector have accelerated demand growth forLNG in China. The proportion of natural gas in non-renewable energy consumption is expected toincrease from 6% to 10% during the 13th Five-Year Plan. By 2020, natural gas distribution market willreach nearly RMB1 trillion in revenue.

Rapid DemandGrowth

Upstream low-cost assets Core LNG assets Downstream end-user markets

Core upstream assets in North America, to hedge price risks

Natural gas end-user markets in China

Sources: Company, SIA Energy

LNG export terminals in North AmericaLNG receiving terminal in ChinaTargeted midstream channels

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Investment in LNG Value Chain –Focusing on China and US Natural Gas Market’s Strategic Opportunities (cont’d)

LNG receiving terminals in operation in China (As of March 2018)

• Industry segment: LNG import is one of the fastest growing industry segments in China, with growth rate nearly 50% in 2017

• Market dynamics: LNG receiving terminals are dominated by China’s Top 3 NOCs, with only two terminals operated by private players

• JOVO Dongguang: China’s first LNG receiving Terminal operated by private company

Sources: HIS Markit

LNG receiving terminals in operation in China (As of March 2018)

TerminalCapacity(MMtpa)

Start year/ expansion

Key owner

Guangdong Dapeng 6.8 2006/2007 CNOOC

Fujian Putian 5.0 2008/2011 CNOOC

Shanghai Wuhaogou 0.5 2008 Shenergy

Shanghai Yangshan 3.0 2009 Shenergy/CNOOC

Jiangsu Rudong 6.5 2011/2016 CNOOC

Liaoning Dalian 6.0 2011/2016 CNOOC

Zhejiang Ningbo 3.0 2012 CNOOC

Guangdong Dongguan 1.5 2012 JOVO

Guangdong Zhuhai 3.5 2013 CNOOC

Hebei Tangshan 6.5 2013/2015 CNPC

Tianjin (CNOOC) 4.4 2013/2016 CNOOC

Hainan Yangpu 3.0 2014 CNOOC

Hainan Chengmai 0.6 2014 CNPC

Shandong Qingdao 4.5 2014/2016 Sinopec

Guangxi Beihai 3.0 2016 Sinopec

Guangdong Yuedong 2.0 2017 CNOOC

Jiangsu Qidong 0.6 2017 Guanghui

Tianjin (Sinopec） 3.0 2018 Sinopec

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• Market dynamics: LNG supply in North American has begun to grow rapidly since 2016 and is expected to become the world’s

largest LNG export region by 2025

• Magnolia LNG: has obtained all necessary approvals from DOE and FERC and is one of the US’s most viable LNG projects

Investment in LNG Value Chain –Focusing on China and US Natural Gas Market’s Strategic Opportunities (cont’d)

\Project rating (lower marks, better results)

Standing Still

Building Momentum

FID Imminent

Sources：Wood Mackenzie

Overview of the US LNG terminal projects

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2018.3.31 2017.3.31 2018.3.31 2017.3.31

HK$'000 HK$'000 HK$'000 HK$'000

Current Assets CurrentLiabilities

Cash and cash equivalents

1,786,403 1,134,521 Bank andother payables

- 101,375

Others 162,318 1,116,481 Others 287,003 272,893

1,948,721 2,251,002 287,003 374,268

Non-current Assets

Long-term Liabilities

Fixed assets 664,226 545,084 Convertiblenotes

234,187 116,541

Financial assetsat fair value

1,606,746 - Convertible bonds

67,148 222,615

Others 43,768 43,312 Others 85,564 48,610

2,314,740 588,396 386,899 387,766

TotalLiabilities

673,902 762,034

Equity 3,589,559 2,077,364

Total Equity 3,589,559 2,077,364

Total Assets 4,263,461 2,839,398 Total Liabilities and Equity

4,263,461 2,839,398

FY2017 FY2016

HK$'000 HK$'000

Sales revenue 123,399 76,779

Investment income 74,395 -

Total income 197,794 76,779

Operating costs (91,218) (79,884)

Total income, net of cost 106,576 (3,105)

EBITDA 101,656 (392,795)

Adjusted EBITDA 101,656 (32,175)

Income/(loss) before tax 24,323 (450,619)

Net income/(loss) 14,493 (462,426)

Financial Performance

Consolidated Income Statement Consolidated Balance Sheet

• Sales revenue (oilfield in China):HK$123 million in FY 2017, up 61% yoy

• Investment income (oilfield in US, LNG projects etc.): HK$74 million, return achieved for less than 12 months

• Net income: Turnaround, transformation completed

• Capital structure:• Healthy capital structure with abundant cash and almost no interest-bearing debt• 16% gearing ratio, potential for subsequent structural financing

• P/B: 1.9x P/B (as at 15 June 2018), net asset increases as investment income continues to grow significantly

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Mission and Vision

• Establishing a comprehensive, diversified and top quality energy assets portfolio with long, middle, and

short term configuration

• Investing in more balanced cross-border energy production and import & export industry chain

• Providing unique energy assets investment opportunity. Achieving high growth, high return, and long term

value to continuously enhance shareholders’ returns

Mission and Vision –A Trusted Platform for Energy Assets Investment and Management

Value Proposition

Fundraising capability

Competitive advantages

Global asset allocation

Projects pipeline and

network

Excess return

Complex transactions

execution

Expertise in energy sector

Asset appreciation benefiting from energy cycle

Huge opportunities arising from rapidly growing demand from natural gas in China and long-term low-cost LNG supply in North America

Comprehensive investment plan for outperforming investment incomes and upsurge in financial results

Top-tier investment capability in primary market and capacity to grow AUM with scale

High growth, high returns and cycle defensive

Why investing in us?

Best-in-class energy investment and management platform

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A Global Diversified Energy Assets Investment Platform

Investor Relations Contact：Office : (852) 39031325Cell : (852) 91802352Email : ir@idgenergy.comWebsite : http://www. idgenergy.com

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Disclaimer

The information in this presentation is provided to you by IDG Energy Investment Limited (the “Company”), solely for informational purposes and isnot an offer to buy or sell, or a solicitation of an offer to buy or sell, any security or instrument of the Company, or to participate in any investmentor trading strategy, in the Hong Kong Special Administrative Region of the People's Republic of China or anywhere else.

By viewing or participating in this presentation, you acknowledge and agree that (i) the information contained in this presentation and informationpresented orally or otherwise is strictly confidential and must be treated as such, (ii) the information contained in this presentation is intended forthe recipient of this information only and shall not be disclosed, reproduced or distributed in any way to anyone else, (iii) no part of thispresentation or any other materials provided in connection herewith may be retained or taken away following this presentation, and (iv) allparticipants must return this presentation and all other materials provided in connection herewith to the Company at the completion of thepresentation. By viewing, accessing or participating in this presentation, you agree to be bound by the foregoing limitations. Any failure to complywith these restrictions may constitute a violation of applicable securities laws.

This presentation does not and does not purport to contain all relevant information relating to the Company or its securities, particularly withrespect to the risks and special considerations involved with an investment in the securities of the Company. This presentation does not constitutelegal, regulatory, accounting or tax advice to you. We recommend that you seek independent legal, regulatory, accounting and tax advice regardingthe contents of this presentation. This presentation does not constitute and should not be considered as any form of financial opinion orrecommendation by the Company or any other party. No representations, warranties or undertakings, express or implied, are or will be made in orin relation to, and, so far as is permitted by law, no responsibility or liability is or will be accepted by any person (for the avoidance of doubt,including but not limited to, the Company and its affiliates and the controlling persons, directors, supervisors, officers, partners, employees, agents,representatives or advisers of any of the foregoing), with respect to, and no reliance should be placed on, the accuracy, fairness or completeness ofthe information in this presentation.

This presentation contains statements that constitute forward-looking statements. All statements other than statements of historical facts areforward-looking statements. The forward-looking statements stated herein are not guarantees of future performance and involve risks anduncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors and assumptions,many of which are beyond the Company’s control. Accordingly, you should not place undue reliance on any forward-looking information. Neitherthe Company nor any of its affiliates, advisors, representatives or underwriters has any obligation to, nor do any of them undertake to, revise orupdate the forward-looking statements contained in this presentation to reflect future events or circumstances.