Huayi Tencent Entertainment : Successfully Recruits Seasoned Executive for its Internet Healthcare Development

Press Release

[Immediate Release]

Huayi Tencent Entertainment Successfully Recruits Seasoned Executive

for its Internet Healthcare Development

(11 October 2021 - Hong Kong) Huayi Tencent Entertainment Company Limited ("Huayi Tencent Entertainment," the "Company"; Stock code: 00419.HK; together with its subsidiaries collectively known as the "Group") is pleased to announce that the Group has successfully recruited Ms. Dong Yu ("Ms. Dong") - an inspiring leader in internet healthcare to join the management team of the Group. The Company and Ms. Dong have entered into agreements for joint ventune ("JV") company and VIE arrangements to set up an offshore JV structure and engage principally in internet healthcare business in China. The Company will hold 60% equity interests in the JV and Ms. Dong will act as the director and chief executive officer of the joint venture which mainly operates internet healthcare business under the Group's flagship.

Ms. DONG Yu possesses extensive experiences and networks in the realms of pharmaceutical and medical care services via the internet in China though her 15-year tenure in one of the largest groups operating in internet regime in China, especially focusing on the field of medical and healthcare services. She has held various key positions including head of medical and healthcare services business division, head of the government relations department in charge of major projects and activities cooperated with governments, and sales planning manager of B2B business division, accumulating extensive experience in the fields of product research and design, e- commerce operation, marketing operation and strategic planning.

Mr. Yuen Hoi Po, Executive Director and Chief Executive Officer of Huayi Tencent

Entertainment, said, "The market for internet healthcare service is rapidly developed. The Group has strenuously developed strategic layout on relevant fields since last year by acquiring "Lingyi Future", a new retail platform for prescription drugs. We are continuing to identify acquisition targets with high growth potential projects, so as to capture the unprecedented opportunities brought by healthcare reforms and industry digitalization. The joining of Ms. Dong will effectively strengthen the Group's active implementation in above strategic planning and strengthening the ability of market operations to ensure the success of development"

1Financial PR(HK)Limited 金融公關（香港）有限公司 5/F BOC Group Life Assurance Tower 136 Des Voeux Road Central Hong Kong 香港中環德輔道中136號中銀集團人壽保險大廈5樓

Press Release

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About Huayi Tencent Entertainment Company Limited

Huayi Tencent Entertainment Company Limited (Stock Code: 00419.HK) conducts businesses in two segments namely Healthcare and Entertainment and Media. The Group's Healthcare business focuses on the operation of "Bayhood No. 9 Club", one of the top green health clubs in the PRC with well-equipped facilities such as a standard golf course, spa facilities as well as food-and-beverages-related business to offer professional and excellent healthcare and wellness services. The Group is also proactively developing the internet healthcare business. In respect to the Entertainment and Media business, the Group produces quality international films, animations, and TV dramas, and invests in international entertainment companies through M&As and resource integration, aimed at building an integrated platform with both content development and online-to-offline entertainment channels.

This press release is disseminated by Financial PR (HK) Limited on behalf of Huayi Tencent Entertainment Company Limited.

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2Financial PR(HK)Limited 金融公關（香港）有限公司 5/F BOC Group Life Assurance Tower 136 Des Voeux Road Central Hong Kong 香港中環德輔道中136號中銀集團人壽保險大廈5樓