On April 18, 2019, Dang Yu (George) Pan submitted a letter (the 'supplemental letter') to the special committee of the board of directors of the Highpower International, Inc. In the supplemental letter, Dang Yu Pan informed the Special Committee that he has formed a consortium with Wen Liang Li, Wen Wei Ma and Essence. The Supplemental Letter states that the Proposal Letter thereby is deemed modified to provide, on a non-binding basis, that the Consortium proposes to acquire all the outstanding shares of common stock that are not already directly or indirectly beneficially owned by the Consortium in a going private transaction upon the terms and subject to the conditions set forth in the Proposal Letter, and that all other terms and conditions of the Proposal Letter remain unchanged and thereby are reaffirmed. The Consortium also confirmed in the Supplemental Letter that they will not proceed with the Transaction unless it is approved by the Special Committee, taking into account the advice of its independent advisors. The Supplemental Letter further states that the Transaction will be subject to a non-waivable condition requiring the approval by holders of a majority of the outstanding shares of common stock not beneficially owned by the Consortium. In addition, the Supplemental Letter states that both Dang Yu Pan and Wen Liang Li will recuse themselves from participating in any deliberations and decisions of the board of directors of the Company related to the Transaction.