Asiaray Media : DELAY IN DESPATCH OF CIRCULAR

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.

Asiaray Media Group Limited

雅仕維傳媒集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1993)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcements of Asiaray Media Group Limited (the "Company") dated 4 June 2020 and 21 July 2020 in relation to the connected transaction regarding the issuance of perpetual subordinated convertible securities and delay in dispatch of circular (the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless otherwise specified.

As set out in the Announcements, it was expected that the Company would despatch a circular (the "Circular") containing, among other matters, further information regarding the issuance of perpetual subordinated convertible securities and the transactions contemplated thereunder to the Shareholders on or before 10 August 2020.

As additional time is required for the Company to prepare and finalise certain information in the Circular, it is currently expected that the dispatch of the Circular will be delayed to a date on or before 28 August 2020.

By order of the Board

Asiaray Media Group Limited

Lam Tak Hing, Vincent

Chairman

Hong Kong, 10 August 2020

As at the date of this announcement, the executive Directors are Mr. Lam Tak Hing, Vincent and Mr. Lam Ka Po; the non-executive Directors are Mr. Wong Chi Kin and Mr. Yang Peng; and the independent non-executive Directors are Mr. Ma Andrew Chiu Cheung, Mr. Ma Ho Fai GBS JP and Ms. Mak Ka Ling.