Starlight Culture Entertainment : ANNOUNCEMENT CHANGES IN DIRECTORSHIP

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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

The Board announces that with effect from 20 February 2020:

1. Mr. Wang Shoulei（王守磊）has resigned as a non-executive Director; and
2. Mr. Sang Kangqiao（桑康喬）has been appointed as an executive Director and a member of the executive committee of the Company.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Starlight Culture Entertainment Group Limited (the "Company") announces that Mr. Wang Shoulei ("Mr. Wang") has resigned as a non-executive Director with effect from 20 February 2020 due to his other business engagements which require more of his attention and dedication.

1

Mr. Wang 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. Wang for his valuable contribution to the Company during his tenure of office and wish him every success in future.

APPOINTMENT OF EXECUTIVE DIRECTOR AND A MEMBER OF THE EXECUTIVE COMMITTEE OF THE COMPANY

The Board is pleased to announce that, with effect from 20 February 2020, Mr. Sang Kangqiao ("Mr. Sang") has been appointed as an executive Director and a member of the executive committee of the Company. The biographical details of Mr. Sang are set out below:

Mr. Sang Kangqiao

Mr. Sang, aged 44, has been appointed as an executive Director on 20 February 2020. Mr. Sang obtained a bachelor's degree in electrical engineering from Beijing Institute of Technology. Mr. Sang has over 19 years of experience in the securities investment industry in Hong Kong and the People's Republic of China. Mr. Sang also serves as an executive director and the chairman of the board of directors of U Banquet Group Holding Limited（譽宴集團 控股有限公司）, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited (stock code: 1483).

As at the date of this announcement, Mr. Sang directly owns 13,511,500 shares of the Company (the "Shares") and has a security interest in 143,000,000 Shares pledged by Timcha Investment Limited（鼎創投資有限公司）(formerly known as CICFH Innovation Investment Limited), a substantial shareholder of the Company, which in aggregate representing approximately 19% of the total issued share capital of the Company.

2

Save as disclosed above, as at the date of this announcement, Mr. Sang (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. Sang 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).

Mr. Sang 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 20 February 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. Sang 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. Sang will not receive any remuneration 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.

3

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

By Order of the Board

Starlight Culture Entertainment Group Limited

Mr. Fang Jun

Chairman

Hong Kong, 20 February 2020

As at the date of this announcement, the Board comprises eight executive Directors, namely Mr. Fang Jun, Mr. Chau Chit, Mr. Luo Lei, Mr. Sang Kangqiao, Mr. Gao Qun, Mr. Chen Jie, Ms. Wu Xiaoli and Mr. Hung Ching Fung; 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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