IDreamSky Technology : ANNOUNCEMENT PURSUANT TO RULE 13.09 OF THE LISTING RULES AND THE INSIDE INFORMATION PROVISION

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.

iDreamSky Technology Holdings Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1119)

ANNOUNCEMENT PURSUANT TO RULE 13.09 OF THE LISTING

RULES AND THE INSIDE INFORMATION PROVISION

This announcement is made by iDreamSky Technology Holdings Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 9 December 2019 (the "Announcement") in relation to, among others, the Possible Acquisition. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

Pursuant to the MOU dated 29 November 2019, among other matters, the Company was granted an exclusivity period of 21 days from the date of the MOU (which period may be extended to such later date as the Selling Shareholders and the Company may agree) (the "Exclusivity Period"), and it was the intention of the Selling Shareholders and the Company to enter into the Formal Agreement in relation to the Possible Acquisition on or before the expiry of the Exclusivity Period (or such later date as the Selling Shareholders and the Company may agree).

The Board wishes to update the shareholders and potential investors of the Company that, as at the date of this announcement, (i) the Company is in the course of conducting due diligence review on Leyou and its subsidiaries; and (ii) the discussion and negotiation of the terms of the Formal Agreement among Mr. Yuk, the Selling Shareholders and the Company in respect of the Possible Acquisition is ongoing.

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Given that additional time is required for completing the due diligence and the discussion and negotiation of the terms of the Formal Agreement, on 20 December 2019 (after trading hours), Mr. Yuk, the Selling Shareholders and the Company have agreed to extend the Exclusivity Period to 3 January 2020.

Save as disclosed above, all other terms and conditions of the MOU remain unchanged.

The Board wishes to emphasize that no formal agreements had been entered into in respect of the Possible Acquisition as at the date of this announcement and negotiations are still in progress, thus there is no certainty (i) as to the terms of the Possible Acquisition; or (ii) that the Possible Acquisition will proceed or that it would lead to a mandatory general offer for all the issued share capital of Leyou under Rule 26.1 of the Takeovers Code and a notifiable transaction on the part of the Company.

There is no assurance that the Possible Acquisition will materialise or eventually be consummated and the relevant discussions may or may not lead to a mandatory general offer for all the issued share capital of Leyou under Rule 26.1 of the Takeovers Code and/or a notifiable transaction on the part of the Company. Shareholders and potential investors of the Company should be aware that the Possible Acquisition may or may not proceed. Shareholders and/or potential investors of the Company are advised to exercise caution in dealing in the securities of the Company.

By order of the Board

iDreamSky Technology Holdings Limited

Chen Xiangyu

Chairman of the Board

Shenzhen, the PRC, 20 December 2019

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Chen Xiangyu as Chairman and Executive Director, Mr. Guan Song, Mr. Jeffrey Lyndon Ko and Mr. Lei Junwen as Executive Directors, Mr. Ma Xiaoyi and Mr. Du Feng as Non-executive Directors, and Ms. Yu Bin, Mr. Li Xintian and Mr. Zhang Weining as Independent Non-executive Directors.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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