China Saite : Announcements and Notices - Appointment of Independent Non-executive Director, Chairman of Audit Committee and Member of Remuneration Committee

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CHINA SAITE GROUP COMPANY LIMITED

中 國 賽 特 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 153)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR, CHAIRMAN OF AUDIT COMMITTEE AND

MEMBER OF REMUNERATION COMMITTEE

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Luk Chi Shing has been appointed as an Independent Non-Executive Director with effect from 3 January 2017.

APPOINTMENT OF CHAIRMAN OF AUDIT COMMITTEE AND MEMBER OF REMUNERATION COMMITTEE

The Board further announces that Mr. Luk Chi Shing has been appointed as the chairman of Audit Committee and member of Remuneration Committee of the Company with effect from 3 January 2017.

Reference is made to the announcement (the ''Announcement'') issued by China Saite Group Company Limited (the ''Company'') on 13 December 2016 in relation to resignation of Mr. Ma Chun Fung Horace as independent non-executive director, chairman of Audit Committee and member of Remuneration Committee of the Company with effect from 13 December 2016.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the ''Board'') of the Company hereby announces that subsequent to the resignation of Mr. Ma Chun Fung Horace as independent non-executive director, Mr. Luk Chi Shing (''Mr. Luk'') has been appointed as an independent non-executive director with effect from 3 January 2017.

The biographical detail of Mr. Luk is set out as follows:

Mr. Luk Chi Shing, aged 47, graduated from City University of Hong Kong in 1993, with a Bachelor of Arts in Accountancy. Mr. Luk is an associate member of the Hong Kong Institute of Certified Public Accountants and a fellow member of the Association of Chartered Certified Accountants. Mr. Luk had been (i) an executive director of Trillion Grand Corporate

Company Limited (formerly known as Tai Shing International (Holdings) Limited) (stock code: 8103) from April 2014 to March 2016; (ii) an independent non-executive director of Interactive Entertainment China Cultural Technology Investments Limited (formerly known as China Mobile Games and Cultural Investment Limited) (stock code: 8081) from December 2011 to August 2015; (iii) an independent non-executive director of Dafeng Port Heshun Technology Company Limited (stock code: 8310) from February 2014 to March 2016; (iv) an independent non-executive director of CircuTech International Holdings Limited (formerly known as TeleEye Holdings Limited) (stock code: 8051) from April 2015 to June 2016; and (v) the company secretary and financial controller of Silk Road Energy Services Group Limited (stock code: 8250) from January 2012 to November 2015, and the shares of these companies are listed on the Growth Enterprises Market of the Stock Exchange of Hong Kong Limited.

It is currently proposed that Mr. Luk will enter into a letter of appointment and his initial term of appointment will be one year commencing on 3 January 2017 until the next general meeting of the Company and shall then be eligible for re-election at the meeting. Mr. Luk'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. Subject to the Articles of Association of the Company, the appointment will be terminated by either party by serving not less than one-month's written notice. Under the letter of appointment, Mr. Luk will receive a remuneration of HKD240,000 per annum and such other fringe benefits as the Board shall in its discretion deem appropriate.

The remuneration of Mr. Luk has been reviewed by the Remuneration Committee of the Company and was determined by the Board with reference to the prevailing market conditions, and the qualifications, experience, duties and responsibilities of Mr. Luk with the Company. The remuneration of Mr. Luk is subject to review by the Board from time to time pursuant to the power conferred on it in the annual general meeting of the Company.

As at the date of this announcement, save as disclosed above, Mr. Luk confirms that (i) he does not have any relationship with any other directors, senior management, substantial shareholders, or controlling shareholders of the Company; (ii) he does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance; (iii) he does not hold other positions with the Company or other members of the Group; and (iv) he does not hold any other directorships in the last three years in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas.

Mr. Luk has confirmed that he is not aware of any other matter in relation to his appointment that needs to be brought to the attention of the shareholders of the Company, and, save as disclosed in this announcement, there is no other information which is required to be disclosed pursuant to the requirements under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'').

The Board would like to take this opportunity to welcome Mr. Luk for joining the Board.

APPOINTMENT OF CHAIRMAN OF AUDIT COMMITTEE AND MEMBER OF REMUNERATION COMMITTEE

The Board further announces that subsequent to the resignation of Mr. Ma Chun Fung Horace as the chairman of Audit Committee and member of Remuneration Committee, Mr. Luk has been appointed as chairman of Audit Committee and member of Remuneration Committee of the Company with effect from 3 January 2017.

Reference is made to the Announcement disclosing the non-compliance with Rules 3.11, 3.23 and 3.27 of the Listing Rules due to the resignation of Mr. Ma Chun Fung Horace. Following the appointment of Mr. Luk as an independent non-executive director, chairman of Audit Committee and member of Remuneration Committee of the Company, the number and qualification of independent non-executive director and the composition of the Board as well as the composition of the Company's audit committee and remuneration committee meet the requirements under Rules 3.11, 3.23 and 3.27 of the Listing Rules.

By order of the Board

China Saite Group Company Limited Jiang Jianqiang

Chairman

Hong Kong, 3 January 2017

As at the date of this announcement, the executive directors of the Company are Mr. JIANG Jianqiang, Mr. SHAO Xiaoqiang and Mr. XU Fanghua; and the independent non-executive directors are Mr. XU Jiaming, Mr. CHEN Tiegang and Mr. LUK Chi Shing.