China Vanguard You Champion : RETIRING OF INFEPENDENT NON-EXECUTIVE DIRETORS, CHAIRMAN OF AUDIT COMMITTEE, CHAIRMAN OF REMUNERATION COMMITTEE, MEMBER OF AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

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RETIRING OF INFEPENDENT NON-EXECUTIVE DIRETORS, CHAIRMAN OF AUDIT COMMITTEE, CHAIRMAN OF REMUNERATION COMMITTEE, MEMBER OF AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The board (the "Board") of directors (the "Director(s)") of China Vanguard You Champion Holdings Limited (the "Company") announces that on 23 November 2017, Mr. TO Yan Ming Edmond ("Mr. TO") has not re-elected in the annual general meeting held by the Company on 23 November 2017 as an independent non-executive Director, the chairman of the audit committee and the chairman of remuneration committee and Dr. LIU Ta-pei ("Dr. LIU") has not re-elected in the annual general meeting held by the Company on 23 November 2017 as an independent non- executive Director, the member of the audit committee, the member of the nomination committee and the member of remuneration committee of the Company with effect from 23 November 2017.

Mr. TO and Dr. LIU have confirmed that (i) he has no claim against the Company in respect of his retirement and there is no disagreement between him and the Board; and (ii) there are no matters that need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company in relation to his retirement. The Board is of the view that the normal daily business and operations of the Company and its subsidiaries have not been affected and will not be effected by the above matters.

The Board noted that following the retirement of Mr. TO and Dr. LIU, the number of independent non-executive Directors, the number of the audit committee and the number of the remuneration committee members of the Company will fall below the minimum requirements under Rule 5.05(1), Rule 5.06, Rule 5.28 and Rule 5.34(as defined in the Rules (the "GEM Listing Rules") Governing the Listing of Securities on the Growth Enterprise Market ("GEM") of the Stock Exchange) respectively. The Company is identifying a suitable candidate to fill the vacancy in order to fulfil the requirements under the GEM Listing Rules as soon as practicable within three months from 23 November 2017 pursuant to Rule 5.05(1), Rule 5.06, Rule 5.28, Rule 5.34 and of the GEM Listing Rules.

By Order of the Board

CHINA VANGUARD YOU CHAMPION HOLDINGS LIMITED

眾彩羽翔股份有限公司*

CHAN Ting

Executive Director and Chief Executive Officer

Hong Kong, 23 November 2017

As at the date of this announcement, the Board of the Company comprises Madam CHEUNG Kwai Lan, Mr. CHAN Ting as Executive Directors, Mr. CHAN Tung Mei as Non-executive Director and Mr. YANG Qing Cai as Independent Non-executive Director.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the "Latest Company Announcements" page of the GEM website at www.hkgem.com for a minimum period of 7 days from the date of its publication and on the website of the Company at www.cvg.com.hk.

* For identification purposes only