Starlight Culture Entertainment : ANNOUNCEMENT CHANGES IN DIRECTORSHIP AND BOARD COMMITTEE MEMBERS

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STARLIGHT CULTURE ENTERTAINMENT GROUP LIMITED

星光文化娛 樂 集團 有限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 1159)

ANNOUNCEMENT

CHANGES IN DIRECTORSHIP AND

BOARD COMMITTEE MEMBERS

The Board announces that:

1. Mr. Fang Jun（方軍）has resigned as an executive Director and ceased to be a member of each of the remuneration committee, nomination committee, executive committee, anti-money laundering committee, credit committee and the investment steering committee of the Company with effect from 17 September 2020;
2. Mr. Chen Jie（陳杰）has resigned as an executive Director and ceased to be a member of the executive committee of the Company with effect from 17 September 2020; and
3. Mr. Tang Liang（唐亮）has been appointed as an executive Director, chairman of the Board and a member of each of the remuneration committee and executive committee with effect from 18 September 2020.

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RESIGNATION OF EXECUTIVE DIRECTORS

The board (the "Board") of directors (the "Directors") of Starlight Culture Entertainment Group Limited (the "Company") announces that with effect from 17 September 2020:

1. Mr. Fang Jun（方軍）("Mr. Fang") has resigned as an executive Director due to his other business engagements which require more of his attention and dedication. Following his resignation, he ceased to be the chairman of the Board, a member of each of the remuneration committee, nomination committee, executive committee, anti-money laundering committee, credit committee and the investment steering committee of the Company; and
2. Mr. Chen Jie（陳杰）("Mr. Chen") has resigned as an executive Director due to his other business engagements which require more of his attention and dedication. Following his resignation, he ceased to be a member of the executive committee of the Company.

Each of Mr. Fang and Mr. Chen has confirmed to the Company 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.

The Board would like to take this opportunity to express its sincere gratitude and great appreciation to Mr. Fang and Mr. Chen for their valuable contribution to the Company during their tenure of office and wish them every success in future.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that, with effect from 18 September 2020, Mr. Tang Liang ("Mr. Tang") has been appointed as an executive Director. The biographical details of Mr. Tang are set out below:

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Mr. Tang Liang

Mr. Tang, aged 42, has been appointed as an executive director on 18 September 2020. Mr. Tang has been serving as (i) a director of Tencent Music Entertainment Group, a company listed on the New York Stock Exchange (stock symbol: TME), since April 2014, (ii) an independent non-executive Director of CMGE Technology Group Limited（中手游科技集 團有限公司）, a company listed on The Stock Exchange of Hong Kong Limited (stock code: 00302), since September 2019, (iii) the chairman of China Investment Financial Holdings Fund Management Company Limited（中投中財基金管理有限公司）since April 2015, (iv) a director of CAS Health Industry (Beijing) Company Ltd.（中科健康產業（北京）有限公 司）since December 2016, (v) the chairman of Hefei CICFH Industry Investment Management Company Limited（合肥中投中財產業投資管理有限公司）since December 2016, (vi) the chairman of Hefei China Film CICFH Investment Management Company Limited（合肥中 影中投中財投資管理有限公司）since March 2017, and (vii) a director of Zhongke Zhiyun Technology Company Limited（中科智雲科技有限公司）since June 2018.

Mr. Tang graduated from Peking University in July 2000 with a bachelor's degree in law. Mr. Tang received a master's degree in litigation law from Peking University in July 2002, a master's degree in law from Yale University in June 2003 and a master's degree in science of law from Stanford University in June 2005.

Save as disclosed above, as at the date of this announcement, Mr. Tang (i) does not hold any position in the Company or other members of the Group; (ii) does not have any other major appointments or professional qualifications; (iii) does not hold any directorship in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) does not have any relationship with any Directors, senior management, substantial or controlling shareholders (as defined in the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited) of the Company.

Further, save as disclosed, as at the date of this announcement, Mr. Tang is not interested in and does not hold any Shares or underlying Shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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Mr. Tang has entered into a service agreement with the Company pursuant to which he has agreed to act as an executive Director for a term of three years commencing from 18 September 2020 and thereafter shall be automatically renewed for a further term of one year on each subsequent year unless terminated by one month's written notice or in certain circumstances as in accordance with the terms of the service agreement. Mr. Tang shall hold office until the next following general meeting of the Company and shall then be eligible for re-election at that meeting pursuant to the bye-laws of the Company. Pursuant to the service agreement, Mr. Tang will not receive any director's fee during his tenure of office, but may be entitled to discretionary bonus in such amount and payable at such time as shall be determined by the Board in its absolute discretion for his directorship in the Company, which would be recommended by the remuneration committee of the Company and determined by the Board with reference to his duties and responsibilities as well as his qualifications, experience and the prevailing market conditions.

The Board would like to take this opportunity to extend its warmest welcome to Mr. Tang for joining the Company.

CHANGE OF CHAIRMAN OF THE BOARD AND COMPOSITION OF BOARD COMMITTEES

The Board announces that, with effect from 18 September 2020, Mr. Tang, an executive Director, has been appointed as the chairman of the Board and as a member of each of the remuneration committee and executive committee of the Company.

By Order of the Board

Starlight Culture Entertainment Group Limited

Chau Chit

Executive Director

Hong Kong, 18 September 2020

As at the date of this announcement, the Board comprises six executive Directors, namely Mr. Tang Liang, Mr. Chau Chit, Mr. Luo Lei, Mr. Sang Kangqiao, Mr. Gao Qun and Ms. Wu Xiaoli; and four independent non-executive Directors, namely Mr. Wong Wai Kwan, Mr. Michael Ngai Ming Tak, Mr. Ma Runsheng and Mr. Wong Wai Hung.

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