Beijing Sports and Entertnmt Ind : Announcements and Notices - (1) Re-designation, Resignation and Appointment of Executive Directors; (2) Resignation of Members of Nomination Committee and Remuneration Committee and (3) Change of Authorised Representative

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(incorporated in the Cayman Islands with limited liability)

(Stock code: 1803)

(1) RE-DESIGNATION, RESIGNATION AND APPOINTMENT OF EXECUTIVE DIRECTORS;

(2) RESIGNATION OF MEMBERS OF

NOMINATION COMMITTEE AND REMUNERATION COMMITTEE

AND

(3) CHANGE OF AUTHORISED REPRESENTATIVE

The Board of Directors of the Company is pleased to announce that with effect from 7 November 2018:

• (a) Mr. Hu Yebi has been re-designated from an executive Director to a non-executive Director of the Company and has been appointed as the authorized representative of the Company. Mr. Hu Yebi has resigned as the member of the nomination committee and the remuneration committee of the Company;

• (b) Mr. Niu Zhongjie has resigned as an executive Director, the authorized representative, and the member of the nomination committee and the remuneration committee of the Company; and

• (c) Mr. Jan Wing Fu, Barry has been appointed as an executive Director of the Company.

RE-DESIGNATION OF DIRECTORSHIP, APPOINTMENT OF AUTHORISED REPRESENTATIVE, RESIGNATION OF MEMBERS OF THE NOMINATION COMMITTEE AND THE REMUNERATION COMMITTEE

The board (the "Board") of directors (the "Directors") of Beijing Sports and Entertainment Industry Group Limited (the "Company", together with its subsidiary, the "Group") hereby announces that Mr. Hu Yebi ("Mr. Hu") has been re-designated from an executive Director to a non-executive Director of the Company with effect from 7 November 2018. Besides, Mr.

Hu has been appointed as an authorized representative of the Company (under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Listing Rules")) and has resigned as the member of the nomination committee and the remuneration committee of the Company with effect from 7 November 2018.

The biographical details of Mr. Hu are set out as follows:

Mr. Hu, aged 54, was appointed as an executive Director with effect from 23 April 2015.

Mr. Hu is the founder and chairman of Vision Finance Group Limited. Mr. Hu received his Master of Business Administration from Netherlands International Institute for Management in the Netherlands and a Postgraduate Diploma in Management Engineering from Beijing Institute of Technology in Beijing, the People's Republic of China. Mr. Hu has more than 26 years of experience in securities and financial services, merger and acquisition and corporate finance. Before joining the Group, Mr. Hu served as an executive director of Hua Lien International (Holding) Company Limited (stock code: 969) during the period from 16 December 2010 to 5 July 2017. Mr. Hu was appointed as an executive director and the chairman of Tai United Holdings Limited (formerly known as Bestway International Holdings Limited) (stock code: 718) during the period from 11 July 2014 to 28 October 2016. Mr. Hu also served as an executive director and vice chairman of China Healthwise Holdings Limited (formerly known as Haier Healthwise Holdings Limited) (stock code: 348) during the period from 5 October 2016 to 20 March 2017. He also served as an executive director of Beijing Properties (Holdings) Limited (stock code: 925) during the period from 23 December 2015 to 6 November 2018 as well as Beijing Enterprises Medical and Health Industry Group Limited (stock code: 2389), a substantial shareholder of the Company, during the period from 22 May 2017 to 31 October 2018.

Upon the re-designation, Mr. Hu entered into a service agreement with the Company for a term of three years with effect from 7 November 2018, subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the bye-laws of the Company. Mr. Hu will receive a director's fee of HK$180,000 per annum, which is fixed with reference to his duties and responsibilities within the Company, the Company's remuneration policy and the prevailing market conditions.

As at the date of this announcement and within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong or the "SFO"), Hollyview International Limited ("Hollyview") is the beneficial owner of 110,810,000 shares of the Company (the "Shares"). The entire issued share capital of Hollyview is beneficial owned as to 100% by Mr. Hu. Accordingly. Mr. Hu is deemed to be interested in 110,810,000 Shares indirectly through his interest in Hollyview, representing 8.48% of the entire issued share capital of the Company. Mr. Hu is also deemed to be interested in 968,000 Shares through the share options of the Company granted under the Company's share option scheme, representing 0.07% of the entire issued share capital of the Company.

Save as disclosed above, Mr. Hu does not have other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company (within the meaning of the Listing Rules). Save as disclosed above, Mr. Hu has not held any directorship in any listed public company in the last three years preceding the date of this announcement.

Mr. Hu has confirmed there is no information required to be disclosed pursuant to any of the requirements under Rule 13.51 (2) (h) to (v) of the Listing Rules and any other matter in relation to his appointment that needs to be brought to the attention of the shareholders of the Company (the "Shareholders").

RESIGNATION OF EXECUTIVE DIRECTOR, AUTHORISED REPRESENTATIVE, MEMBERS OF THE NOMINATION COMMITTEE AND THE REMUNERATION COMMITTEE

The Board hereby announces that Mr. Niu Zhongjie ("Mr. Niu") has resigned as an executive Director, the authorized representative of the Company (under Rule 3.05 of the Listing Rules), and the member of the nomination committee and the remuneration committee of the Company with effect from 7 November 2018:

Mr. Niu has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of the Shareholders and The Stock Exchange of Hong Kong Limited.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board hereby announce that Mr. Jan Wing Fu, Barry ("Mr. Jan"), the chief financial officer, the company secretary and the authorized representative of the Company, has been appointed as an executive Director of the Company with effect from 7 November 2018:

The biographical details of Mr. Jan are set out as follows:

Mr. Jan, aged 51, was appointed as the chief financial officer, the company secretary and an authorized representative of the Company with effect from 15 June 2016. Mr. Jan is also appointed as the company secretary of nine of the wholly-owned subsidiaries of the Group which are all incorporated in Hong Kong. Mr. Jan was a member of the Association of Chartered Certified Accountants till December 2015 and has been an associate member of the Hong Kong Institute of Certified Public Accountants since 1993. He obtained a bachelor degree in business administration from the University of New Brunswick, Canada in December 1989. Mr. Jan has over 28 years of solid experience in auditing, accounting, general management and financial control.

Mr. Jan has not entered into any service contract with the Company. His remuneration will be determined by the Board with reference to his duties, responsibilities and performance and results of the Company.

As at the date of this announcement, Mr. Jan has no interest in the securities of the Company within the meaning of Part XV of the SFO.

Save as disclosed above, Mr. Jan does not have other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company (within the meaning of the Listing Rules). Save as disclosed above, Mr. Jan has not held any directorship in any listed public company in the last three years preceding the date of this announcement.

Mr. Jan has confirmed there is no information required to be disclosed pursuant to any of the requirements under Rule 13.51 (2) (h) to (v) of the Listing Rules and any other matter in relation to his appointment that needs to be brought to the attention of the Shareholders.

The Board would like to take this opportunity to express its sincere gratitude and appreciation to Mr. Niu for his contributions towards the Company during his tenure of office and express its warmest welcome to Mr. Jan for joining the Board.

By order of the Board

Beijing Sports and Entertainment Industry Group Limited

Liu Xue Heng

Chairman

Hong Kong, 7 November 2018

As at the date of this announcement, the executive Directors are Mr. Liu Xue Heng, Mr. Jan Wing Fu, Barry, Mr. Zhu Shixing, Mr. Lam Ka Tak, Mr. Zhang Tingzhe, and Mr. Tsui Ngai, Eddie, the non-executive Director is Mr. Hu Yebi, and the independent non-executive Directors are Mr. Tse Man Kit, Keith, Mr. Lok Lawrence Yuen Ming, Mr. Xin Luo Lin and Mr. Pan Lihui.