Leyou Technologies : CLARIFICATION ANNOUNCEMENT AND RESIGNATION OF DIRECTORS, APPOINTMENT OF DIRECTORS, CHANGE OF CHAIRMAN, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVES AND CHANGE IN COMPOSITION OF REMUNERATION COMMITTEE, NOMINATION COMMITTEE AND AUDIT COMMITTEE

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LEYOU TECHNOLOGIES HOLDINGS LIMITED

樂遊科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1089) CLARIFICATION ANNOUNCEMENT AND RESIGNATION OF DIRECTORS, APPOINTMENT OF DIRECTORS, CHANGE OF CHAIRMAN, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVES AND CHANGE IN COMPOSITION OF REMUNERATION COMMITTEE, NOMINATION COMMITTEE AND AUDIT COMMITTEE CLARIFICATION

Reference is made to the announcement of the unaudited condensed interim consolidated financial results of Leyou Technologies Holdings Limited (the "Company", together with its subsidiaries, the "Group") and its subsidiaries for the six months ended 30 June 2017 published by the Company on 30 August 2017 (the "Announcement").

The board (the "Board") of directors (the "Director(s)") of the Company would like to clarify that page 36 of the Announcement should read as follows:

'AUDIT COMMITTEE

The unaudited consolidated results for the six months ended 30 June 2017 has been reviewed by the Audit Committee which comprises Mr. Hu Chung Ming and Mr. Chan Chi Yuen, all being independent non-executive Directors.

INTERIM DIVIDEND

The Board has resolved not to declare payment of any interim dividend for the six months ended 30 June 2017 (six months ended 30 June 2016: Nil).

By order of the Board

Leyou Technologies Holdings Limited

Mr. Xu Yiran

Chief Executive Officer

Hong Kong, 30 August 2017

As at the date of this announcement, the executive Directors are Mr. Lin Qinglin, Mr. Wu Shiming and Mr. Gu Zhenghao; the non-executive Director is Mr. Eric Todd and the independent non-executive Directors are Mr. Hu Chung Ming and Mr. Chan Chi Yuen.'

Save as disclosed above, all other information contained in the Announcement remains unchanged.

RESIGNATION OF DIRECTORS, APPOINTMENT OF DIRECTORS, CHANGE OF CHAIRMAN, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVES AND CHANGE IN COMPOSITION OF REMUNERATION COMMITTEE, NOMINATION COMMITTEE AND AUDIT COMMITTEE

The Board announces that with effect from 5 September 2017:-

1. Mr. Lin Qinglin ("Mr. Lin") resigned as executive Director and the chairman of the Board (the "Chairman") in order to pursue his personal endeavours and also ceased to be the chairman of the nomination committee (the "Nomination Committee") and a member of the remuneration committee (the "Remuneration Committee") of the Company;

2. Mr. Wu Shiming ("Mr. Wu") resigned as executive Director in order to pursue his personal endeavours and also ceased to act as an authorised representative of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules");

3. Mr. Xu Yiran ("Mr. Xu") has been re-appointed as an executive Director. In addition, he has also been appointed as the Chairman, the chairman of the Nomination Committee, a member of the Remuneration Committee and an authorised representative of the Company under the Listing Rules;

4. Mr. Cao Bo ("Mr. Cao") has been appointed as an executive Director;

5. Mr. Li Zhigang ("Mr. Li") has been appointed as a non-executive Director;

6. Mr. Cheng Chi Ming Brian ("Mr. Cheng") has been appointed as a non-executive Director;

7. Mr. Kwan Ngai Kit ("Mr. Kwan") has been re-appointed as an independent non-executive Director and a member of the audit committee (the "Audit Committee") of the Company;

8. Mr. Yau Yan Ming Raymond ("Mr. Yau") resigned as company secretary of the Company and also ceased to act as an authorised representative of the Company under the Listing Rules and the agent of the Company for the acceptance of service of process in Hong Kong under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Companies Ordinance"); and

9. Mr. Chan Siu Tak ("Mr. Chan") has been appointed as company secretary and an authorised representative of the Company under the Listing Rules and the agent of the Company for the acceptance of service of process in Hong Kong under the Companies Ordinance.

Each of Mr. Lin, Mr. Wu and Mr. Yau has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The biographical details of Mr. Xu, Mr. Cao, Mr. Li, Mr. Cheng, Mr. Kwan and Mr. Chan are set out below:

CHAIRMAN AND EXECUTIVE DIRECTOR Mr. Xu Yiran, aged 46, was appointed as an executive Director and Chief Executive Officer of the Company on 30 June 2017. His term of appointment as an executive Director ended on 25 August 2017 and he has been re-appointed as an executive Director on the date of this announcement. In addition, he has been appointed as the Chairman, the chairman of the Nomination Committee, a member of the Remuneration Committee and an authorised representative of the Company under the Listing Rules. He graduated from Tsinghua University in the People's Republic of China with a Bachelor's degree in automation in 1996. He obtained a Master's degree in Precision Instruments and Mechanology from Tsinghua University and a Master of Business Administration in Finance from the Chinese University of Hong Kong in 1999 and 2007 respectively. Mr. Xu has over 20 years of experience in the gaming industry. Mr. Xu served as Game Director at Sohu Inc (NASDAQ: SOHU) from 2003 to 2005, Investment Director at Giant from 2008 to 2010. Mr. Xu served as Senior Vice President and Chief Business Officer at Perfect World Co., Ltd. (NASDAQ: PWRD) from 2010 to 2015 and president of game business at Qihoo 360 Technology Co., Ltd. from 2015 to 2017 respectively. He is currently an independent non-executive director of SNK Corporation.

Mr. Xu has not held any directorship in any other listed companies during the past three years. Save as disclosed above, he does not hold any other position in the Group. He does not have any relationship with any Directors, senior management or substantial or controlling shareholders (as defined under the Listing Rules) of the Company. He does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

Mr. Xu has entered into a service agreement with the Company for a term of 3 years commencing from 5 September 2017. He is subject to re-election at the following general meeting of the Company after his appointment and thereafter subject to retirement by rotation at least once every three years in accordance with the Articles of Association of the Company. Mr. Xu is entitled to a remuneration of HK$400,000 per month and a discretionary bonus to be determined by the Board, which has been determined by the Remuneration Committee with reference to the experience and responsibilities of Mr. Xu and the prevailing market conditions and is subject to review from time to time.

Save as disclosed above, there is neither any further information required to be disclosed pursuant to the requirements under Rule 13.51(2)(h) to (v) of the Listing Rules nor any other matter that needs to be brought to the attention of the shareholders of the Company.

EXECUTIVE DIRECTOR Mr. Cao Bo, aged 31, graduated from The University of Bath with a Bachelor's degree in Science in Mathematical Sciences with first-class honours in June 2008 and obtained a Master's degree of Science in Mathematical and Computational Finance from The University of Oxford in October 2009. He served as the trust manager of the trust business division of China Credit Trust Co., Ltd. from August 2009 to January 2017. He has been serving as the managing director of the Trust Investment Department of Zhongrong International Trust Co., Ltd since January 2017.

Mr. Cao has not held any directorship in any other listed companies during the past three years and does not hold any other position in the Group. He does not have any relationship with any Directors, senior management or substantial or controlling shareholders (as defined under the Listing Rules) of the Company. He does not have any interests in the shares of the Company within the meaning of Part XV of the SFO.

Mr. Cao has entered into a service agreement with the Company for a term of 3 years commencing from 5 September 2017. He is subject to re-election at the following general meeting of the Company after his appointment and thereafter subject to retirement by rotation at least once every three years in accordance with the Articles of Association of the Company. Mr. Cao is entitled to a director's remuneration of HK$40,000 per month, which has been determined by the Remuneration Committee with reference to the experience and responsibilities of Mr. Cao and the prevailing market conditions and is subject to review from time to time.

Save as disclosed above, there is neither any further information required to be disclosed pursuant to the requirements under Rule 13.51(2)(h) to (v) of the Listing Rules nor any other matter that needs to be brought to the attention of the shareholders of the Company.