Beijing Sports and Entertnmt Ind : Announcements and Notices - Termination of Discloseable Transaction in Relation to the Disposal of Pacific Empire Logistics Limited

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.

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1803)

TERMINATION OF DISCLOSEABLE TRANSACTION

IN RELATION TO THE

DISPOSAL OF PACIFIC EMPIRE LOGISTICS LIMITED

Reference is made to the announcement of the Company dated 27 December 2017 (the "Announcement") in relation to the Disposal. Unless context requires otherwise, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

TERMINATION OF THE AGREEMENT

On 16 January 2018, the Vendor and the Purchaser entered into a deed of termination ("Termination Deed") to terminate the Agreement with immediate effect. Pursuant to the Termination Deed, each of the parties thereto releases and discharges of the other parties from any and all duties, obligations, claims, liabilities past, present and/or future arising out of or in respect of the Agreement. Further, the parties to the Termination Deed confirm that up to date of the Termination Deed, none of the parties thereto has any claims arising from the Agreement.

The Board considers that the termination of the Agreement has no material adverse impact on the existing business, operation or financial position of the Company.

As a result of the termination of the Agreement, the Group will continue to hold 100% of the equity interest in the Target Group and to account the Target Group as indirect wholly-owned subsidiaries of the Company.

By order of the Board

Beijing Sports and Entertainment Industry Group Limited

Liu Xue Heng

Chairman

Hong Kong, 18 January 2018

As at the date of this announcement, the executive Directors are Mr. Liu Xue Heng, Mr. Hu Yebi, Mr. Niu Zhongjie, Mr. Zhu Shixing, Mr. Lam Ka Tak, Mr. Zhang Tingzhe and Mr. Tsui Ngai, Eddie, 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.