7Road : INSIDE INFORMATION ANNOUNCEMENT

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7Road Holdings Limited 第七大道控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 797)

INSIDE INFORMATION ANNOUNCEMENT

This announcement is made by the board of directors ("the Board") of 7Road Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the SFO.

Reference is made to the announcement of the Company dated 28 March 2021 in relation to the delay in publication of 2020 annual results (the "Announcement"). As disclosed in the Announcement, the Company's auditor (the "Auditor") has yet to complete all of its audit procedures for the audit of the Company's consolidated financial statements for the year ended 31 December 2020, as the Company is in the process of cooperating with the Auditor to provide the relevant additional information or materials as requested by the Auditor in relation to the relevant transactions and projects of the Group (the "Relevant Matters").

The Board hereby announces that, on 28 March 2021, the Auditor issued a letter to the Audit Committee, requesting the Audit Committee to establish an independent investigation committee to investigate the Relevant Matters ("Independent Investigation") and to engage an independent third party investigator to assist it with the Independent Investigation.

The Relevant Matters involved the following transactions: (1) the equity acquisition of Shenzhen 7Road Technology Co., Ltd.* (ଉέୋɖɽ༸߅ҦϞࠢʮ̡, "Shenzhen 7Road"), a wholly-owned subsidiary of the Company, in July 2020 at a consideration of RMB180 million; (2) the game product co-development project of Wuxi 7Road Technology Co., Ltd. (ೌ፼ୋɖɽ༸߅ҦϞࠢʮ̡, ("Wuxi 7Road")), a wholly-owned subsidiary of the Company, in December 2019 at a consideration cap of RMB195 million; and (3) the age of certain trade receivables of the Company exceeded their credit period, among which one of the receivables amounted to RMB131 million.

The Company is seeking professional advice in respect of the letter from the Auditor and will keep the Shareholders and investors informed of any further material developments by way of further announcements as and when appropriate.

Continued Suspension of Trading

As requested by the Company, trading in the shares of the Company on the Stock Exchange has been suspended from 10:54 a.m. on 29 March 2021 until further notice.

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

By order of the Board

7Road Holdings Limited

Meng Shuqi Chairman

Wuxi, the PRC

30 March 2021

As at the date of this announcement, the executive Directors are Mr. Meng Shuqi, Mr. Li Zhengquan and Mr. Yang Cheng; and the independent non-executive Directors are Mr. Xue Jun, Ms. Li Yiqing and Ms. Wang Ying.