Link Motion issued a shareholder letter on related issues

Beijing time, September 18, 2018 – Link Mobility Ltd. (NYSE: LKM), a leading smart mobility service operator, today released a letter to shareholders from Co-Chairmen of the Board of Directors Wenyong Shi and Rui Chi.

Below is the full letter to shareholders:

Dear Shareholders,

As we announced in our announcement on September 10, 2018, the Board has taken the initial steps necessary to ensure the Company remains on track. Over the weekend, we have taken additional steps necessary and are taking further actions moving forward. As Co-Chairs of the Company, we are writing this letter to you to discuss the future of the Company with you.

We recognize that over the past four years, the Company has experienced a series of disappointing circumstances and negative outcomes that we could not have anticipated. These have been extremely disappointing, frustrating and difficult for all of our shareholders, employees and partners. However, we are pleased that the independent investigation has concluded and the Company is well positioned to build for the future. We welcome your review of our release summarizing the background and findings of the Special Committee's advisors, Loeb & Loeb, as reported to the Board and filed with the SEC on Form 6K. This report is available on the SEC's website at www.sec.gov and through the Company's Investor Relations website at ir.lkmotion.com.

While the Board and management team are pleased with the outcome of the investigation, we understand that improvements to corporate governance and operations will be critical if the Company is to achieve its potential and meet the expectations of its shareholders and the Board. The Company has identified a clear path to drive growth and profitability for the business. We have begun and will continue to work with all parties to move the Company forward. We are committed to becoming a better company and achieving excellent results for our shareholders. We acknowledge that the personal disputes between us and the ultimate beneficiary of one of the Company's major shareholders, RPL Holdings Ltd., may continue for some time, but we are taking the necessary steps to ensure that these matters do not continue to affect the Company.

Today is the first day that the board of directors has adopted the action plan and taken action. First of all, the first action that has been approved by the board of directors is that starting from today, Shi Wenyong will focus on the following three aspects: 1) Resolving the existing disputes with Lin Yu 2) Cooperating with Tongfang and ensuring its successful fulfillment of payment obligations to the company 3) Facilitating future cooperation opportunities with Zhongzhi to maintain a high level of strategic business. Shi Wenyong will focus all his energy on these priorities that are in the best interests of the company and its shareholders. The shift in the focus of work will maximize the interests of the company and its shareholders.

In addition to Shi Wenyong's efforts on these issues, the Board has also appointed Lian Jia as Acting CEO following Xu Zemin's resignation. It should be noted that Lian Jia has been authorized to perform these duties only during this period and is uniquely qualified to act in this capacity during this period. To protect employees, customers, partners and shareholders from the personal disputes between Henry Lin and Shi Wenyong, the Company is taking certain measures to avoid disrupting the Company's normal operations and current strategies. During this period, Lian Jia will be responsible for the management of the Company. The Company has strong operational leadership and can lead everyone to focus on existing businesses. When the Lin Yu incident is over or there are no potential risks, the Board will appoint a new and permanent CEO to lead the organization's continued development. Thank you to our past management team, including Xu Zemin, Chen Yigong and Wu Jiang. We wish them all the best in their future endeavors.

We are pleased that the Company can now continue to fully leverage its existing business and seize significant opportunities for expansion and profitable growth. The Board and management team have already taken actions and will continue to implement other constructive steps to strengthen the Company's governance and operational controls. Beginning with the actions announced on September 10, we will do our utmost to ensure that the Company's focus on its business plans, growth and value creation for shareholders is not distracted by the RPL Holdings-related disputes.

The company has tremendous opportunities in the transportation sector, especially our "Pinzhi Travel" and "Smart Car" businesses. This sector is a market with huge potential and a business opportunity that the company has been engaged in and invested heavily in for a long time. The company's business team has achieved significant milestones to commercialize our efforts and make a real impact in this field. As we announced, the company has cooperated with industry pioneers and strategic investors, and has completed and passed key regulatory requirements related to the technology, while demonstrating its key advantages in dealing with competition.

Our "Smart Mobility" and "Smart Car" businesses are key to the company's future development, and we look forward to successfully executing our plans. We believe that helping passengers travel efficiently is a good business model, and we intend to achieve this business model by giving passengers a comfortable and efficient travel time. Our ability to create "smart spaces" to make passengers' travel more comfortable and efficient is our competitive advantage and major business opportunity.

To this end, the company's technical and operational management teams have achieved outstanding results. As we continue to grow, we will continue to ensure the integrity of the team, fully support the work of team members, and further provide resources and support to accelerate their progress. The market is opening up opportunities for us, and we must act quickly to take advantage of this open window.

The last point we would like to mention is that we have announced a new agreement with Zhongzhi Hi-Tech Overseas Investment Co., Ltd. (hereinafter referred to as "Zhongzhi"), which includes a non-binding memorandum of understanding to further carry out various business cooperation. We also announced that we will pledge additional assets as additional security for the senior notes bonds of the convertible bonds. We are in the final negotiations on the extension of the maturity date of the convertible bonds of the notice, and we expect to announce this new extension agreement soon. As we have sufficient funds and cash, this extension and agreement is favorable, but we need more time to complete the process of converting RMB into US dollars. We believe that extending the cooperation period and delaying the maturity date of the convertible bonds with Zhongzhizhi will be beneficial to all parties.

In conclusion, now is the time for the company to reshape its glory. We have the ability to benefit from the industrial and technological revolution, but we must use our advantages and execute our business plan with the drive to return to shareholders. Once again, all the actions of the company will be based on our shareholders first. We cherish this precious opportunity very much and are determined to go all out to strive to bring positive changes to the company and give shareholders a satisfactory answer. We believe that these measures taken one after another can promote the further development of the company. Thank you again for your patience and support.

With my sincerest gratitude and determination,

Shi Wenyong, Chi Rui

About Link Mobility

Link Mobility (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 LK Motion, please visit LK Motion's official website at //www.lkmotion.com.