7Road : (1) RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR (2) APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR (3) CHANGE OF COMPOSITION OF THE AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

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.

7Road Holdings Limited

第七大道控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 797)

1. RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR
2. APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR
3. 1. CHANGE OF COMPOSITION OF THE AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The Board announces that, with effect from September 30, 2019:

1. Mr. Liu Yunli has resigned as an Independent Non-Executive Director and ceased to be a member of the Audit Committee, a member of the Nomination Committee and the chairman of the Remuneration Committee; and
2. Ms. Li Yiqing has been appointed as an Independent Non-Executive Director, a member of the Audit Committee, a member of the Nomination Committee and the chairwoman of the Remuneration Committee.

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board announces that, with effect from September 30, 2019, Mr. Liu Yunli ("Mr. Liu") has resigned as an independent non-executive director of the Company (the "Independent Non-ExecutiveDirector") to pursue his future career development and business opportunities.

Mr. Liu 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 or The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Company would like to express its gratitude towards Mr. Liu for his valuable contribution to the Company during the tenure of office.

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APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board further announces that, with effect from September 30, 2019, Ms. Li Yiqing ("Ms. Li") has been appointed an Independent Non-Executive Director.

Ms. Li Yiqing (勵怡青), aged 45, has substantial experience in corporate management

and investment. Ms. Li has been acting as the chairwoman of Hangzhou Li Zi Cultural Technology Co., Ltd.* (杭州粒子文化科技有限公司) since September 2018; a director of Hangzhou Shunwang Technology Co., Ltd.* (杭州順網科技股份有限公司), a company

whose shares are listed on Shenzhen Stock Exchange (SZ: 300113), since September 2018 and the vice-chairwoman of the board of directors of the company since May 2019; the

general manager and director of Chengdu Hua Qi Yun Technology Co., Ltd.* (成都華棲 雲科技有限公司) since August 2018; and the chairwoman of the investment committee of

Pu Ying Guo Shi (Shanghai) Equity Investment Fund Enterprise (Limited Partnership)* ( 朴盈國視(上海)股權投資基金合夥企業(有限合夥)) since May 2018. From April 2017

to April 2018, Ms. Li acted as the chairwoman of the investment committee of De Qing Pu Hua Equity Investment Fund Enterprise (Limited Partnership)* (德清朴華股權投資基金 合夥企業(有限合夥)). From June 2015 to May 2017, Ms. Li acted as a director of Tianjin Tangren Media Co., Ltd.* (天津唐人影視股份有限公司), a company whose shares had

been listed on the National Equities Exchange and Quotations until October 2018 (NEEQ:

835885). From September 2012 to September 2015, Ms. Li acted as the chairwoman and chief executive officer of Hua Shu Media Holdings Co., Ltd.* (華數傳媒控股股份有限

公司), a company whose shares are listed on Shenzhen Stock Exchange (SZ: 000156), and later acted as a director and chief executive officer of such company from September 2015

to March 2017. From December 2009 to November 2015, Ms. Li acted as the chairwoman and the chief executive officer of Huashu Media Network Co., Ltd.* (華數傳媒網絡有限

公司). From July 2001 to December 2009, Ms. Li acted as the senior vice president of Hua Shu Digital Television Media Group Co., Ltd.* (華數數字電視傳媒集團有限公司).

Ms. Li obtained her bachelor's degree in Finance from the Zhejiang University of Finance

and Economics (浙江財經大學) (formerly known as Zhejiang Institution of Finance and Economics* (浙江財經學院)) in July 1995 and further obtained her master's degree in

business administration from Zhejiang University (浙江大學) in March 2001.

As of the date of this announcement, Ms. Li confirmed that (i) save as disclosed above, she did not hold any directorship in any other listed companies during the past three years;

1. she does not hold any job position in the Company or its subsidiaries; (iii) she has no relationship with any director, senior management member, substantial shareholder or controlling shareholder of the Company; and (iv) she has not owned any interest as defined in Part XV of the Securities and Futures Ordinance (Cap 571, Laws of Hong Kong) in the shares or underlying shares of the Company.

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Ms. Li has entered into a service contract (the "Service Contract") with the Company for a term of three years with effect from September 30, 2019 and is subject to retirement by rotation from office and re-election at the next general meeting of the Company and to subsequent retirement by rotation and re-election in accordance with the articles of association of the Company. Pursuant to the Service Contract, Ms. Li is entitled to an annual remuneration of HK$200,000 without discretionary bonus. The remuneration was determined by the Board with reference to the prevailing market conditions, her experience, duties and responsibilities with the Company.

Save as disclosed above, there is no other information related to Ms. Li that need to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited nor other matters that need to be brought to the attention of the shareholders of the Company and the Stock Exchange.

The Board hereby welcomes Ms. Li for joining the Board of the Company.

CHANGE OF COMPOSITION OF THE AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The Board hereby announces that with effect from September 30, 2019:

1. following the resignation of Mr. Liu as an Independent Non-Executive Director, Mr. Liu ceased to be a member of the audit committee of the Company (the "Audit Committee"), a member of the nomination committee of the Company (the "Nomination Committee") and the chairman of the remuneration committee of the Company (the "Remuneration Committee"); and
2. Ms. Li has been appointed as a member of the Audit Committee, a member of the Nomination Committee and the chairwoman of the Remuneration Committee.

By Order of the Board

7Road Holdings Limited

Meng Shuqi

Chairman

Shenzhen, the PRC, September 30, 2019

As at the date of this announcement, the executive directors of the Company are Mr. Meng Shuqi, Mr. Li Zhengquan and Mr. Yang Cheng; the non-executive directors of the Company are Mr. Li Shimeng and Mr. Yan Kaidan; and the independent non-executive directors of the Company are Mr. Xue Jun, Ms. Li Yiqing and Ms. Wang Ying.

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