New Silkroad Culturaltainment : PROFIT WARNING

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.

(Incorporated in Bermuda with limited liability)

(Stock code: 472)

PROFIT WARNING

The Board wishes to inform the Shareholders and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the Year 2019, the Group is expected to record a substantial loss for the Year 2019 as compared to the profit of approximately HK$55,383,000 for the Year 2018.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

The board of directors (the "Board") of New Silkroad Culturaltainment Limited (the "Company", and together with its subsidiaries, the "Group") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2019 (the "Year 2019"), the Group is expected to record a substantial loss for the Year 2019 as compared to the profit of approximately HK$55,383,000 for the year ended 31 December 2018 (the "Year 2018") .

The deterioration of the results for the Year 2019 was mainly due to the realization of an accounting loss of approximately HK$82,761,000 from the discontinued operation of 深 圳市你我金融信息服務有限公司 (Shenzhen Niiwoo Financial Information Services Ltd.*) upon its disposal. Details of which was disclosed in the 2019 interim report of the Company.

The Board emphasizes that the above-mentioned loss was one-off and non-cash in nature and was an accounting treatment in accordance with the Hong Kong Financial Reporting Standards. As such, there will be no adverse effect on the operating cash flows of the Group.

*The English name is not an official name but is provided for identification purpose only

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The annual results of the Group for the Year 2019 have not yet been finalized as at the date of this announcement. Shareholders and potential investors are advised to read carefully the annual results announcement of the Group for the Year 2019, which will be published in due course.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

New Silkroad Culturaltainment Limited

Ng Kwong Chue, Paul

Executive Director

Hong Kong, 3 February 2020

As at the date of this announcement, the Board comprises five executive Directors, namely, Mr. Ma Chenshan, Mr. Ng Kwong Chue, Paul, Mr. Zhang Jian, Mr. Hang Guanyu and Mr. Liu Huaming; and three independent non-executive Directors, namely Mr. Ting Leung Huel, Stephen, Mr. Tse Kwong Hon and Mr. Cao Kuangyu.

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