New Silkroad Culturaltainment : (1) APPOINTMENTS OF EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD; (2) CHANGES IN THE COMPOSITION OF REMUNERATION COMMITTEE AND NOMINATION COMMITTEE; AND (3) CHANGE OF AUTHORIZED REPRESENTATIVE

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 472)

1. 1. APPOINTMENTS OF EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD;
2. CHANGES IN THE COMPOSITION OF REMUNERATION COMMITTEE AND NOMINATION COMMITTEE; AND
3. 1. CHANGE OF AUTHORIZED REPRESENTATIVE

Reference is made to the announcement (the "Announcement") of New Silkroad Culturaltainment Limited (the "Company") dated 23 December 2019 in relation to, among other things, the proposed removal of Mr. Su as a Director (the "Proposed Removal"). Unless otherwise defined, all capitalised terms used herein shall have the same meanings as defined in the Announcement.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Ma Chenshan ("Mr. Ma") has been appointed as the executive Director with effect from 30 December 2019.

Biographical details of Mr. Ma are set out below:

Mr. Ma, aged 44, holds a bachelor degree in Chinese Literature from Shanxi University. From July 1998 to December 2003, he was a reporter of CCTV. From January 2004 to May 2006, he served as the deputy director of All China Federation of Supply and Marketing Cooperatives - Audio-visual Center. From June 2006 to January 2009, he was an editor for journals of China Cooperative Times*. From February 2009 to October 2011, he was the deputy president of China Cooperative Times* and the executive deputy director of All China Federation of Supply and Marketing Cooperatives - Audio-visual Center. From November 2011 to December 2017, he served as the general manager in the manager department, and the director in each of the Group Office, the distribution department and the photography art department of Guang Ming Daily. From January 2014 to May 2016, he was a member of the Standing Committee of the Guangyuan Municipal Committee of Sichuan Province and the deputy secretary of the Party Group of the Municipal Government. Since January 2018, he has been the director and executive vice president of Macro-Link Holding Company Limited, the Controlling Shareholder.

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Mr. Ma does not hold any positions within the Company or other members of the Group, nor did he act as directors in any listed public companies in the past three years immediately preceding the date of this announcement.

Save as disclosed above, Mr. Ma does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company. As at the date of this announcement, he did not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Mr. Ma has accepted an appointment from the Company for a term of three years which is subject to retirement and re-election in accordance with the bye-laws of the Company. He is entitled to an annual emolument of HK$120,000 which is determined by the Board based on the recommendation of the remuneration committee of the Company (the "Remuneration Committee") with reference to his qualification, experience and responsibilities with the Company.

Mr. Ma has confirmed that, save as disclosed above, there is no other information relating to his appointment which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules nor are there any other matters that need to be brought to the attention of the shareholders of the Company (the "Shareholders").

The Board would like to take this opportunity to express its warmest welcome to Mr. Ma in joining the Board.

APPOINTMENT OF CHAIRMAN OF THE BOARD

In view of the suspension of duties of Mr. Su, Mr. Ma was appointed as the chairman of the Board in place of Mr. Su with immediate effect.

CHANGES IN THE COMPOSITION OF REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The Board further announces that with immediate effect:

1. Mr. Ma has been appointed as chairman of the nomination committee of the Company (the "Nomination Committee") and member of the Remuneration Committee; and
2. Mr. Su ceased to be the chairman of the Nomination Committee and the member of the Remuneration Committee.

CHANGE OF AUTHORIZED REPRESENTATIVE

The Board also announces that with immediate effect:

1. Mr. Ma has been appointed as the authorized representative of the Company (the "Authorized Representative") under Rule 3.05 of the Listing Rules; and
2. Mr. Su ceased to be the Authorized Representative.

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GENERAL

A circular containing, among other things, details of the re-election of Mr. Ma as Director and the Proposed Removal together with a notice of the SGM will be despatched to the Shareholders as soon as possible.

By order of the Board

New Silkroad Culturaltainment Limited

Ng Kwong Chue, Paul

Executive Director

Hong Kong, 30 December 2019

• The English name is not the official name and is translated for reference purpose only

As at the date of this announcement, the Board comprises six executive Directors, namely, Mr. Ma Chenshan, Mr. Su Bo (suspended duties), Mr. Ng Kwong Chue, Paul, Mr. Zhang Jian, Mr. Hang Guanyu and Mr. Liu Huaming, and three independent non-executive Directors, namely Mr. Ting Leung Huel, Stephen, Mr. Tse Kwong Hon and Mr. Cao Kuangyu.

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