Wisdom Sports : RESIGNATION OF JOINT COMPANY SECRETARY AND CHANGE OF AUTHORIZED REPRESENTATIVE

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WISDOM SPORTS GROUP

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1661)

RESIGNATION OF JOINT COMPANY SECRETARY AND CHANGE OF

AUTHORIZED REPRESENTATIVE

R E S I G N A T I O N O F J O I N T C O M P A N Y S E C R E T A R Y A N D A U T H O R I Z E D REPRESENTATIVE

The board of directors (the "Board") of Wisdom Sports Group (the "Company") hereby announces that Ms. Hao Bin ("Ms. Hao"), one of the joint company secretaries of the Company, is qualified to act as the company secretary under Rule 3.28 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules").

The Board further announces that Ms. Chan Sau Ling ("Ms. Chan") has tendered her resignation as a joint company secretary of the Company and ceased to act as an authorized representative of the Company under Rule 3.05 of the Listing Rules with effect from 30 December 2019. Following the resignation of Ms. Chan, Ms. Hao will act as the sole company secretary of the Company.

Ms. Chan has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange.

At the time of Ms. Hao's appointment as a joint company secretary of the Company on 7 November 2016, Ms. Hao did not possess the requisite qualifications under Rule 3.28 of the Listing Rules. The Company applied for and the Stock Exchange granted on 2 November 2016 and 27 July 2018 respectively to the Company a waiver from strict compliance with Rule 3.28 of the Listing Rules for the period from 7 November 2016 up to 6 November 2019, on the condition that, among other things, the Company respectively engaged Ms. Kam Mei Ha Wendy ("Ms. Kam") (former joint company secretary of the Company who resigned with effect from 30 August 2018) and Ms. Chan (appointed as joint company secretary of the Company with effect from 30 August 2018), who possessed the

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requisite qualifications under Rule 3.28 of the Listing Rules, as a joint company secretary of the Company, to assist Ms. Hao in the discharge of her duties as a company secretary and in acquiring the relevant experience as required under Rule 3.28 of the Listing Rules.

Since Ms. Hao's appointment as a joint company secretary of the Company, Ms. Hao has discharged her duty as a joint company secretary of the Company with the assistance of Ms. Kam and Ms. Chan and has acquired the relevant experience required under Rule 3.28 of the Listing Rules during the waiver period. The Company applied for and the Stock Exchange approved on 20 November 2019 agreeing that Ms. Hao is qualified to act as the company secretary of the Company under Rule 3.28 of the Listing Rules upon expiry of the waiver period on 6 November 2019.

APPOINTMENT OF AUTHORIZED REPRESENTATIVE

The Board is pleased to announce that Mr. Sheng Jie, an executive director of the Company and the vice-chairman of the Board, has been appointed as an authorized representative of the Company under Rule 3.05 of the Listing Rules with effect from 30 December 2019.

The Board would like to express its sincere appreciation to Ms. Chan for her contribution to the Company during the tenure of her service and welcome Mr. Sheng Jie on his appointment for the new position.

By Order of the Board

Wisdom Sports Group

Ren Wen

Chairlady and Executive Director

Hong Kong, 30 December 2019

As at the date of this announcement, the executive directors of the Company are Ms. Ren Wen, Mr. Sheng Jie, Mr. Song Hongfei and Ms. Hao Bin; and the independent non-executive directors of the Company are Mr. Chen Zhijian, Mr. Ip Kwok On Sammy and Mr. Jin Guoqiang.

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