Chinese Food and Beverage : APPOINTMENT OF EXECUTIVE DIRECTOR, INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBERS OF THE AUDIT COMMITTEE, NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8272) APPOINTMENT OF EXECUTIVE DIRECTOR, INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBERS OF THE AUDIT COMMITTEE, NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

The board (the "Board") of directors (the "Directors") of Chinese Food and Beverage Group Limited (the "Company") is pleased to announce that Mr. Yuen Koon Tung ("Mr. Yuen") has been appointed as an executive director and Mr. Ho Siu King Stanley ("Mr. Ho") has been appointed as an independent non-executive director and the members of the audit committee, nomination committee and remuneration committee of the Company with effect from 26 January 2017.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Yuen Koon Tung ("Mr. Yuen") has been appointed as an executive director of the Company with effect from 26 January 2017.

Mr. Yuen Koon Tung

Mr. Yuen, aged 44, has been working in Convoy Financial Services Limited ("Convoy") as an associate director since 2003. Prior to joining Convoy, Mr. Yuen worked in the investment banking department of Core Pacific-Yamaichi Capital Limited and the compliance department and corporate finance department in Credit Agricole Indosuez. Mr. Yuen worked in the Listing Division of the Stock Exchange from September 1997 to June 2000 and the audit department of Ernst & Young from September 1994 to April 1997.

Mr. Yuen received his bachelor's degree in business administration with a concentration in finance from the Chinese University of Hong Kong in 1994. Mr. Yuen was admitted as a member of the American Institute of Certified Public Accountants on 30 April 2000.

Mr. Yuen was an independent non-executive director of SkyOcean International Holdings Limited (stock code: 593), a company listed on Main Board of the Stock Exchange, from 7 March 2014 to 30 June 2014. Save as disclosed above, Mr. Yuen did not hold any other directorship in any public listed companies in the past three years nor has he held any other positions with the Company and its subsidiaries.

Mr. Yuen has entered into an appointment letter with the Company with effect from 26 January 2017 and he is subject to retirement and rotation at the general meeting of the Company in accordance with the articles of association of the Company. The Company and Mr. Yuen are entitled to terminate the appointment at any time by giving the other party one-month's notice in writing. Mr. Yuen is entitled to a monthly salary of HK$12,500 on a 13-month basis and a year-end discretionary bonus, which are determined by the Board with reference to his qualification, duties and responsibilities with the Company, the remuneration policy of the Company and the prevailing market conditions.

Mr. Yuen does not have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance) and he does not have any relationship with any other directors, senior management, substantial or controlling shareholders of the Company.

Save as disclosed above, Mr. Yuen and the Company confirm that there is no other matter regarding his appointment as an executive director of the Company that needs to be brought to the attention of the shareholders of the Company and there is no information to be disclosed by Mr. Yuen pursuant to Rule 17.50(2)(h) to (v) of the Rules Governing the Listing of Securities on the Growth Enterprise Market of the Stock Exchange (the "GEM Listing Rules") in relation to his appointment.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBERS OF THE AUDIT COMMITTEE, NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

The Board is also pleased to announce that Mr. Ho Siu King Stanley ("Mr. Ho") has been appointed as an independent non-executive director and the members of the audit committee, nomination committee and remuneration committee of the Company with effect from 26 January 2017.

Mr. Ho Siu King Stanley

Mr. Ho, aged 29, is a practicing barrister in Hong Kong. His areas of practice include civil and criminal law. He holds a Master of Laws degree from the London School of Economics and Political Science, and Bachelor of Laws and Bachelor of Engineering (Civil Engineering and Laws) degrees from the University of Hong Kong. Mr. Ho currently is an independent non- executive director of Easy Repay Finance & Investment Limited (stock code: 8079), a company listed on the Growth Enterprise Market of the Stock Exchange.

Save as disclosed above, Mr. Ho did not hold any other directorship in any public listed companies in the past three years nor has he held any other positions with the Company and its subsidiaries. Mr. Ho has entered into an appointment letter with the Company with effect from 26 January 2017 for a term of one year and he is subject to retirement and rotation at the general meeting of the Company in accordance with the articles of association of the Company. The Company and Mr. Ho are entitled to terminate the appointment at any time by giving the other party one-month's notice in writing. The remuneration of Mr. Ho is HK$10,000 per month which is determined by the Board with reference to his qualification, duties and responsibilities with the Company, the remuneration policy of the Company and the prevailing market conditions.

Mr. Ho does not have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance) and he does not have any relationship with any other directors, senior management, substantial or controlling shareholders of the Company.

Save as disclosed above, Mr. Ho and the Company confirm that there is no other matter regarding his appointment as an independent non-executive Director that needs to be brought to the attention of the shareholders of the Company and there is no information to be disclosed by Mr. Ho pursuant to Rule 17.50(2)(h) to (v) of the GEM Listing Rules in relation to his appointment.

GENERAL

The Board would like to welcome Mr. Yuen and Mr. Ho for joining the Board.

By order of the Board

CHINESE FOOD AND BEVERAGE GROUP LIMITED Yu Sau Lai

Executive Director

Hong Kong, 26 January 2017

As at the date of this announcement, Ms. Yu Sau Lai, Mr. Lam Raymond Shiu Cheung, Mr. Chow Cheuk Hang and Mr. Yuen Koon Tung are executive Directors; Mr. Matthew Pau, Mr. Yeung Wai Hung, Peter, Mr. Chu Yu Man, Philip, Mr. Kam Tik Lun and Mr. Ho Siu King Stanley are independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and that there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the "Latest Company Announcements" page of the GEM website at www.hkgem.com for at least seven days from the date of its publication and the Company's website at www.cfbgroup.com.hk.