Link Motion Announces Strategic Investment from China AI Capital Limited and Board Adjustment

Beijing, July 19, 2018 – Link Mobility Ltd. (NYSE: LKM), a leading smart mobility service operator, today announced a strategic investment from China AI Capital Limited (China AI Capital) and the resulting changes to its Board of Directors.

China AI Capital has agreed to invest $20 million in the Company to purchase 70,175,439 Class B ordinary shares (Class B Shares) at a price of $0.285 per share, or 14,035,088 American Depositary Shares (ADSs), each representing five (5) Class A ordinary shares, at a price of $1.425 per ADS. This price represents a 25% premium to the closing price per ADS on the New York Stock Exchange on July 16, 2018. In entering into the subscription agreement to purchase the Class B Shares, China AI Capital paid $10 million of the total purchase consideration of $20 million as an initial investment. The remaining $10 million of the total purchase consideration will be paid on or before September 19, 2018, subject to satisfaction of customary closing conditions. Each Class B share has 10 votes, the same as the other 50.35 million Class B common shares issued by the Company prior to the transaction. This means that our new shareholders have an effective controlling stake, which gives them more motivation and decision-making power to work with us towards success.

In addition to the investment from China AI Capital, Link Motion Intelligence also announced today the adjustment of its board of directors. Effective today, Link Motion Intelligence has appointed Chi Rui and Li Yu as new members of its board of directors. In addition, Ding Chun has resigned as the company's independent director for personal reasons.

Chi Rui is a well-known senior banker with more than 20 years of experience in the financial industry. Chi Rui has held important positions in many well-known financial institutions, including Morgan Stanley, Credit Suisse, Deutsche Bank and China Merchants Bank. He graduated from Nankai University.

Chi Rui said: "I am very pleased to join the board of directors of Link Motion at this exciting turning point. I believe Link Motion's future in smart mobility and smart cars positions it in important growth areas. I look forward to helping Link Motion bring new partnerships and more possible opportunities in the Internet and automotive industries."

Li Yu is currently the founder and CEO of Hehuan Medical, a group that aims to provide online medical consultation services. He has more than 10 years of experience in business operations and strategic investment. Li Yu served as the executive vice president of NetQin Mobile Co., Ltd. from 2010 to 2015. He graduated from Beijing Jiaotong University with a bachelor's degree in computer engineering.

Li Yu said: "I believe that the future of Link Motion is brighter than ever before. I am very happy to have the opportunity to rejoin the company and look forward to helping the company realize its greatest value in the future."

“First, I would like to thank Ding Chun for his contributions to the board. At the same time, we welcome China AI Capital as an important new strategic shareholder.” Dr. Shi Wenyong, Chairman of Link Mobility, said: “We are very pleased that Chi Rui and Li Yu have joined our board of directors. We look forward to working with them and all of our colleagues to focus on executing our Pinzhi Mobility and smart car businesses.”

About Link Mobility

LKMotion (NYSE: LKM) is a leading provider of smart mobility services. The company is committed to providing smart car technology solutions and ecosystem construction, while also providing other related mobile safety and efficient application services for consumers. For more information about LKMotion, please visit LKMotion's official website at http://www.lkmotion.com.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.