Minsheng Education : FURTHER DELAY IN DESPATCH OF CIRCULAR MAJOR TRANSACTION THE ACQUISITION OF 50% OF THE EQUITY INTEREST OF OPEN UNIVERSITY ONLINE TO HOLD 100% EQUITY INTEREST IN OPEN UNIVERSITY ONLINE AND OPEN DISTANCE EDUCATION

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.

Minsheng Education Group Company Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1569)

FURTHER DELAY IN DESPATCH OF CIRCULAR

MAJOR TRANSACTION

THE ACQUISITION OF 50% OF THE EQUITY

INTEREST OF OPEN UNIVERSITY ONLINE TO HOLD 100% EQUITY

INTEREST IN OPEN UNIVERSITY ONLINE AND

OPEN DISTANCE EDUCATION

Reference is made to the announcements dated 28 December 2020, 31 December 2020, 6 January 2021 and 13 January 2021 issued by Minsheng Education Group Company Limited (the "Company") in relation to the acquisition of 50% of the equity interest of Open University Online to hold 100% equity interest in Open University Online and Open Distance Education (collectively the "Announcements"). Unless otherwise stated, terms defined in the Announcements shall have the same meanings when used in this announcement.

As disclosed in the announcement dated 13 January 2021, the Circular was expected to be despatched to the Shareholders on or before 15 May 2021. Since it is expected that more time is needed for the Company to complete the relevant information of Open University Online to be disclosed in the Circular, it is expected that the despatch date of the Circular will be postponed to a date no later than 31 May 2021.

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An application has been made by the Company to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules by further extending the date of despatch of the Circular to a date falling on or before 31 May 2021. The Stock Exchange has granted such consent and the Circular is expected to be despatched to the Shareholders on or before 31 May 2021.

By the order of the Board

Minsheng Education Group Company Limited

Li Xuechun

Chairman

Hong Kong, 14 May 2021

As at the date of this announcement, the executive Directors are Mr. Li Xuechun, Ms. Zhang Weiping, Mr. Zuo Yichen and Mr. Lam Ngai Lung, the non-executive Directors are Mr. Lin Kaihua and Ms. Li Yanping, and the independent non-executive Directors are Mr. Chan Ngai Sang, Kenny, Mr. Yu Huangcheng and Mr. Wang Wei Hung, Andrew.

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