Beijing Sports and Entertnmt Ind : Announcements and Notices - Voluntary Announcement Latest Business Update

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) VOLUNTARY ANNOUNCEMENT LATEST BUSINESS UPDATE

This announcement is made by the Company on a voluntary basis. The purpose of this announcement is to keep the Shareholders and potential investors of the Company informed of the latest business development of the Group.

The Board is pleased to announce that the following cooperation agreement was entered into for the purpose of cooperation of potential business and investment opportunities in sports and entertainment related industry of the Group:

THE COOPERATION AGREEMENT ON SPORTS VENUES MANAGEMENT AND ELITE TALENT TRAINING（ 體育場館管理精英人

才培訓合作協議）

Date: 1 September 2017

Parties: (1) Beijing Zhonghu Zhicheng

(2) Beijing Beiti

Duration: Two years from the date of signing of the cooperation agreement. Any party can renew the agreement with one month' notice before the expiration.

Pursuant to the cooperation agreement, Beijing Zhonghu Zhicheng and Beijing Beiti will cooperate on setting up, enrollment and promotion of the course on sports venues management and elite talent training.

Beijing Zhonghu Zhicheng will be responsible for: -

1. set up, enrollment and promotion of the course;

2. shall maintain the reputation of and abide by the relevant regulation of Beijing Beiti and Beijing Sports University; and

3. shall not engage in any activities not related to the cooperation matter in the name of Beijing Beiti and Beijing Sports University

Beijing Beiti will be responsible for: -

1. the costs of invitation of experts on the training course including the transportation and accommodation;

2. the costs on the preparation of the study materials and handbooks;

3. the arrangement of the training venues, classrooms and refreshments;

4. the management of accounting book and records and issuance of invoice; and

5. the arrangement of examination and the issuance of certification to the students

Beijing Beiti is a wholly owned company under Beijing Sports University in the PRC. To the best of the Director's knowledge, information and belief and having made all reasonable enquires, Beijing Beiti and its ultimate beneficial owner are an Independent Third Parties of the Company and its Connected Persons as defined by the Listing Rules.

INFORMATION OF THE GROUP

The Company is an investment holding company and its subsidiaries are principally engaged in the investments in the sports and entertainment-related industry in the PRC; and the provision of air freight services in the wholesale market.

REASONS FOR ENTERING INTO THE AGREEMENT

The Group is actively exploring for business and investment opportunities in the sports and entertainment-related industry in the PRC based on experience and business connections of its management in various fields. The Group believes sports industry is promising in China as national policy support and the hosting of large sports events like Beijing Winter Olympic Games in 2022 will drive the development of related industries. The Board believes that the entering into of these agreements would allow the Group to utilize the expertise and business connection of the strategic partners which enables the Group to access to more business and investment opportunities. Hence, the Directors are of the view that the entering into of the agreement are in the interest of the Group and the Shareholders as a whole.

GENERAL

The Board is highly confident of the Group's prospects. The Group will issue further announcement(s) to keep the market informed of material developments (if any) as and when appropriate, or where required by the Listing Rules on the Main Board of the Stock Exchange.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company. DEFINITIONS

In this announcement, the following expressions have the meanings set out below unless the context otherwise requires:

"Beijing Beiti" Beijing Beiti Technology Centre *（ 北京北體科技中心）, a

wholly owned company under Beijing Sports University（北 京體育大學）in the PRC

"Beijing Zhonghu Zhicheng"

Beijing Zhonghu Zhicheng Cultural Development Co., Limited*（ 北京中互智誠文化發展有限公司）, a company incorporated in the PRC with limited liabilities and is an indirect wholly owned subsidiary of the Company

"Board" the board of the Directors

"Company" Beijing Sports and Entertainment Industry Group Limited, a company incorporated in the Cayman Islands, whose Shares are listed on the Main Board (stock code: 1803)

"Connected Person" has the meaning ascribed thereto under the Listing Rules "Director(s)" the director(s) of the Company

"Group" the Company and its subsidiaries

"Hong Kong" the Hong Kong Special Administrative Region of the PRC

"Independent Third Party(ies)"

third party(ies) independent of, and not connected with, the Company and its Connected Persons