CMGE Technology : STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the prospectus dated 19 October 2019 (the "Prospectus") of CMGE Technology Group Limited (the "Company").

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and Hong Kong Securities Clearing Company Limited ("HKSCC") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is made pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong).

This announcement is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or subscribe for securities of the Company. Potential investors should read the Prospectus for detailed information about the Company and Global Offering before deciding whether or not to invest in the Offer Shares.

This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States or any other jurisdiction where such distribution is prohibited by law. This announcement does not constitute and is not an offer to sell or a solicitation of any offer to buy securities in Hong Kong, the United States or elsewhere. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws of the United States and may not be offered or sold in the United States absent registration under the U.S. Securities Act or except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. There will be no public offering of securities of the Company in the United States.

CMGE Technology Group Limited

中 手 游 科 技 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 0302)

STABILIZING ACTIONS

AND

END OF STABILIZATION PERIOD

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

The Company announces that the stabilization period in connection with the Global Offering ended on Saturday, 23 November 2019, being the 30th day after the last day for the lodging of applications under the Hong Kong Public Offering.

The stabilizing actions undertaken by China International Capital Corporation Hong Kong Securities Limited, the Stabilizing Manager, its affiliates or any person acting for it during the stabilization period are set out below:

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1. over-allocationsof an aggregate of 69,150,000 Offer Shares in the International Offering, representing 15% of the Offer Shares initially available under the Global Offering before any exercise of the Over-allotment Option;
2. borrowing of an aggregate of 69,150,000 Shares by the Stabilizing Manager from Zhongshouyou Brothers Limited, a controlling shareholder of the Company, pursuant to the Stock Borrowing Agreement to cover over-allocations in the International Offering. Such Shares were returned and redelivered to Zhongshouyou Brothers Limited on 7 November 2019 in accordance with the terms of the Stock Borrowing Agreement; and
3. full exercise of the Over-allotment Option by the Joint Global Coordinators (for themselves and on behalf of the International Underwriters) on 4 November 2019, in respect of an aggregate of 69,150,000 Shares, representing 15% of the Offer Shares initially available under the Global Offering before any exercise of the Over-allotment Option, at the Offer Price of HK$2.83 per Share, to facilitate the return in full to Zhongshouyou Brothers Limited of the 69,150,000 borrowed Shares which were used to cover the over-allocations in the International Offering.

For further details of the exercise of the Over-allotment Option, please refer to the announcement of the Company dated 4 November 2019.

PUBLIC FLOAT

Immediately after the end of the stabilization period, the Company will continue to comply with the public float requirements under Rule 8.08(1)(a) of the Listing Rules.

By order of the Board

CMGE Technology Group Limited

Xiao Jian

Chairman

Hong Kong

25 November 2019

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Xiao Jian and Mr. Sin Hendrick as executive Directors; Mr. Ma Yuntao and Mr. Tang Yanwen as non-executive Directors; and Ms. Ng Yi Kum, Mr. Tang Liang and Mr. Ho Orlando Yaukai as independent non-executive Directors.

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