Cosmo Lady China : Appointment of Non-executive Director and Appointment of Independent Non-executive Director and Member of Board Committees

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Cosmo Lady (China) Holdings Company Limited

都 市 麗 人（中 國）控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 2298) APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF BOARD COMMITTEES

The Board announces that Mr. Yang Weiqiang, nominated by Fosun Ruizhe Grace Investments Limited pursuant to the Subscription Agreement, has been appointed as a non-executive director of the Company and Mr. Lu Hong Te has been appointed as an independent non-executive director of the Company, a member of each of the audit committee, the remuneration committee, the nomination committee and the risk management committee of the Board, in each case, with effect from 17 August 2017.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Reference is made to the announcement of Cosmo Lady (China) Holdings Company Limited (the "Company") dated 5 May 2017 (the "Announcement"), relating to, among other things, the Subscription Agreement entered into between the Company and Fosun Ruizhe Grace Investments Limited. Unless the context required otherwise, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

The board of directors (the "Board") of the Company hereby announces that Mr. Yang Weiqiang ("Mr. Yang"), nominated by Fosun Ruizhe Grace Investments Limited pursuant to the Subscription Agreement, has been appointed as a non-executive director of the Company with effect from17 August 2017.

Mr. Yang, aged 49, is currently the chairman and president of Shenzhen Qianhai Fosun Ruizhe Asset Management Co., Limited ("Fosun Ruizhe AM"). Fosun Ruizhe AM is a professional investment company and a subsidiary of Fosun International Limited ("Fosun") (Stock code: 00656), which is a company listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the holding company of Fosun Ruizhe Grace Investments Limited.

Mr. Yang obtained a bachelor's degree in computer science from Zhengzhou University, master's degrees in business management from Perking University and Cheung Kong Graduate School of Business, and an executive master of business administration degree from Tsinghua University.

Mr. Yang has more than 18 years of practice experience in manufacturing industry. Prior to joining Fosun, Mr. Yang served as a senior vice president and an executive director of TCL Corporation, the shares of which are listed on the Shenzhen Stock Exchange (Stock code: 000100). Mr. Yang moved to the investment industry and served as an executive president and a managing director of HEAVEN-SENT Capital Management Group Co., Ltd. from 2008 to 2013. Mr. Yang participated in the preparation of "Q & A of mergers and acquisition of listed companies" issued by the Shenzhen Stock Exchange and served as a core lecturer for mergers and acquisitions field as invited by the Shenzhen Stock Exchange. Mr. Yang is currently a non-executive director of Koradior Holdings Limited, a company listed on the Stock Exchange (Stock code: 3709), and a director of Grandland Decoration Group, a company listed on the Shenzhen Stock Exchange (Stock code: 002482).

Save as disclosed above, Mr. Yang has not held any directorships in any other listed public company in the three years prior to the date of his appointment as a non-executive director of the Company. Save as disclosed above, Mr. Yang does not have any other positions with the Company or its subsidiaries, nor any relationship with any director, senior management, substantial or controlling shareholder of the Company. As at the date of this announcement, Mr. Yang does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) (the "SFO").

Mr. Yang has entered into an appointment agreement with the Company for a term of three years commencing from the date of his appointment and is subject to retirement by rotation and re-election and other related provisions as stipulated in the memorandum and articles of association of the Company and the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). Mr. Yang will not receive any emolument in his capacity as a non-executive director of the Company.

Save as disclosed above, there are no further information in connection with Mr. Yang's appointment which are required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Listing Rules, and there are no other matters which need to be brought to the attention of the shareholders of the Company.

The Board would like to express its warm welcome to Mr. Yang on his appointment to the Board.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF BOARD COMMITTEES

The Board is also pleased to announce that Mr. Lu Hong Te ("Mr. Lu") has been appointed as an independent non-executive director of the Company, a member of each of the audit committee, the remuneration committee, the nomination committee and the risk management committee of the Board with effect from 17 August 2017.

Mr. Lu, aged 56, is currently a professor at the department of business administration of Chung Yuan Christian University in Taiwan, specializing in sales management and business competitive strategies. Mr. Lu also serves as a visiting professor at institutions including SGP International Management Academy, Nanyang Technological University's EMBA Center and Xiamen University's EMBA Center.

Mr. Lu is an independent non-executive director of Capxon International Electronic Company Limited (Stock code: 469), ANTA Sports Products Limited (Stock Code: 2020), China Lilang Limited (Stock code: 1234), China SCE Property Holdings Limited (Stock code: 1966), the shares of which are listed on the Main Board of the Stock Exchange and an independent director of Uni-President Enterprises Corp., a company listed on the Taiwan Stock Exchange (Stock code: 1216). Mr. Lu is also an independent director of Firich Enterprises Co., Ltd (Stock code: 8076) and Lanner Electronics Inc. (Stock code: 6245), the shares of which are traded in the Taipei Exchange.

Mr. Lu obtained a bachelor's degree in industrial management science from National Cheng Kung University in 1983, and a master's degree and a doctoral degree in marketing from the Graduate Institute of Business Administration of the College of Management of National Taiwan University in 1985 and 1992, respectively.

Save as disclosed above, Mr. Lu has not held any directorships in any other listed public company in the three years prior to the date of his appointment as an independent non-executive director of the Company. Save as disclosed above, Mr. Lu does not have any other positions with the Company or its subsidiaries, nor any relationship with any director, senior management, substantial or controlling shareholder of the Company. As at the date of this announcement, Mr. Lu is interested in 210,000 shares of the Company, representing approximately 0.01% of its entire issued share capital, within the meaning of Part XV of the SFO.

Mr. Lu has entered into an appointment agreement with the Company for a term of three years commencing from the date of his appointment and is subject to retirement by rotation and re-election and other related provisions as stipulated in the memorandum and articles of association of the Company and the Listing Rules.

Mr. Lu is entitled to an emolument of RMB150,000 per annum for his appointment as an independent non-executive director of the Company. The emolument of Mr. Lu as an independent non-executive director of the Company is determined with reference to Mr. Lu's background and qualifications, his duties and responsibilities and the prevailing market conditions.

Save as disclosed above, there are no further information in connection with Mr. Lu's appointment which are required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Listing Rules, and there are no other matters which need to be brought to the attention of the shareholders of the Company

The Board would like to express its warm welcome to Mr. Lu on his appointment to the Board.

By Order of the Board

Cosmo Lady (China) Holdings Company Limited Zheng Yaonan

Chairman

Hong Kong, 17 August, 2017

As at the date of this announcement, the Board comprises Mr. Zheng Yaonan, Mr. Zhang Shengfeng, Mr. Lin Zonghong, Mr. Cheng Zuming and Ms. Wu Xiaoli as executive directors of the Company; Mr. Wen Baoma and Mr. Yang Weiqiang as non-executive directors of the Company; and Mr. Yau Chi Ming, Dr. Dai Yiyi, Mr. Chen Zhigang and Mr. Lu Hong Te as independent non-executive directors of the Company.