Xinhua News Media : Announcements and Notices - Change of Auditor

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited 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.

XINHUA NEWS MEDIA HOLDINGS LIMITED อശஷৃ᎖దછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 309)

CHANGE OF AUDITOR

This announcement is made by the board of directors (the "Board") of Xinhua News Media Holdings Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board announces that Elite Partners CPA Limited ("Elite Partners") has resigned as the auditor of the Company with effect from 11 January 2019, as the Company and Elite Partner could not reach a consensus on the audit fee for financial year ending 31 March 2019. Elite Partners has confirmed in writing that there are no matters in connection with its resignation that need to be brought to the attention of the shareholders of the Company.

The Board further announces that with the recommendation from audit committee, Zhonghui ANDA CPA Limited ("Zhonghui") has been appointed as the new auditor of the Company with effect from 11 January 2019 to fill the casual vacancy following the resignation of Elite Partners. Zhonghui shall hold office until the conclusion of the next annual general meeting of the Company.

The Board has confirmed that there is no other matter in respect of change of auditor that needs to be brought to the attention of the shareholders of the Company. The Board would like to take this opportunity to express its sincere gratitude to Elite Partner for its professional and quality services rendered to the Company during the past year.

By order of the Board

Xinhua News Media Holdings Limited

Chan Chun Wo Co-Chairman & Executive Director

Hong Kong, 10 January 2019

As at the date of this announcement, the Board comprises six executive Directors, namely, Mr. Lo Kou Hong, Mr. Chan Chun Wo, Mr. David Wei Ji, Mr. Huang Wen Kai, Ms. Chen Ming and Mr. Li Bing; and four independent non-executive Directors, namely, Mr. Wang Qi, Mr. Tsang Chi Hon, Mr. Ho Hin Yip and Ms. Lee Suen.