China Bright Culture : APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR; RESIGNATION OF A NON-EXECUTIVE DIRECTOR; AND CHANGE IN COMPOSITION OF THE AUDIT COMMITTEE

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China Bright Culture Group

煜盛文化集團*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1859)

APPOINTMENT OF AN INDEPENDENT

NON-EXECUTIVE DIRECTOR;

RESIGNATION OF A NON-EXECUTIVE DIRECTOR;

AND

CHANGE IN COMPOSITION OF THE AUDIT COMMITTEE

APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors" and each a "Director") of China Bright Culture Group (the "Company", together with its subsidiaries and PRC operating entities, the "Group") is pleased to announce that with effect from July 24, 2020, Mr. YANG Chengjia ("Mr. Yang") was appointed as an independent non-executive Director and a member of the Board's audit committee (the "Audit Committee").

Mr. Yang Chengjia (楊成佳), aged 33, is an independent non-executive Director, being responsible for supervising and providing independent advice to the Board. Mr. Yang has served as a vice president of the risk management department of Dongxing Securities Co., Ltd. (東興證 券股份有限公司), a company listed on the Shanghai Stock Exchange (stock code: 601198) since

January 2019. He served as an assistant vice president of the risk management department of Founder Securities Co., Ltd. (方正證券股份有限公司), a company listed on the Shanghai Stock

Exchange (stock code: 601901) from June 2017 to January 2019. Mr. Yang served as an actuary of the product management department of China Export & Credit Insurance Corporation (中國出口信 用保險公司) from January 2013 to June 2017. Mr. Yang graduated from Central South University (中南大學) with the bachelor's degree in June 2009 and obtained the master's degree from Nankai

University (南開大學) in June 2013. Mr. Yang was accredited as an Associate of China Association of Actuaries (中國准精算師) by China Insurance Regulatory Commission (中國保險監督管理委員 會) in April 2014.

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Mr. Yang entered into a letter of appointment with the Company, and his initial term of appointment for three years commenced from July 24, 2020 and shall hold office only until the next general meeting of the Company and shall then be eligible for re-election at that meeting. Mr. Yang's appointment is subject to retirement by rotation at least once every three years and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company. The appointment can be terminated by either party by serving not less than three- month written notice to the other party. Mr. Yang will be entitled to receive a director's fee of HK$100,000 per annum which was determined by the Board with reference to his duties and responsibilities within the Company as well as prevailing market rates.

Save as disclosed above, to the best of the knowledge, information and belief of the Directors after having made all reasonable enquiries, as at the date of this announcement, Mr. Yang did not (i) have any other relationship with any Directors, senior management or substantial or controlling shareholders of the Company; (ii) have any other interest 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); (iii) hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) hold other positions with other members of the Company or its subsidiaries.

Save as disclosed above, to the best of the knowledge, information and belief of the Directors after having made all reasonable enquiries, there is no information in relation to the appointment of Mr. Yang that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there is no other matter that needs to be brought to the attention of the shareholders of the Company.

The Board would like to extend its warm welcome to Mr. Yang on his new appointment.

RESIGNATION OF A NON-EXECUTIVE DIRECTOR

The Board announces that with effect from July 24, 2020, Mr. CHEN Kai ("Mr. Chen") resigned as a non-executive Director and a member of the Audit Committee due to his other work arrangements.

Mr. Chen and the Board have confirmed that Mr. Chen has no disagreement with the Board, and he is not aware of other matters in connection with his resignation that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

The Board would like to express its sincere gratitude to Mr. Chen for his valuable contribution to the Company during his tenure.

CHANGE IN THE COMPOSITION OF THE AUDIT COMMITTEE

The Board would like to announce that with effect from July 24, 2020, Mr. Chen has ceased to be a member of the Audit Committee and Mr. Yang was appointed as a member of the Audit Committee, in replacement of Mr. Chen.

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The Audit Committee comprises the following Directors:

Mr. Victor Huang (chairman of the Audit Committee and independent non-executive Director) Ms. RAN Hua (independent non-executive Director)

Mr. Yang Chengjia (independent non-executive Director)

By Order of the Board

China Bright Culture Group

LIU Mu

Chairman

Beijing, the PRC, July 24, 2020

As at the date of this announcement, the Board comprises Mr. LIU Mu, Ms. CHEN Jia and Mr. XIA Rui as executive Directors; and Ms. RAN Hua, Mr. HUANG Victor, Mr. ZHANG Yiwu and Mr. Yang Chengjia as independent non-executive Directors.

* For identification purposes only

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