Wasion : Announcements and Notices - Change of Directors

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3393)

CHANGE OF DIRECTORS

The Board announces that with effect from 26 January 2017:

1. Mr. Wang Xue Xin has resigned as an executive director of the Company;

2. Ms. Li Hong has resigned as an executive director of the Company; and

3. Mr. Tian Zhongping has been appointed as executive director of the Company.

Resignation of executive directors

The board of directors (the ''Board'') of Wasion Group Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') announces the resignation of Mr. Wang Xue Xin (''Mr. Wang'') and Ms. Li Hong (''Ms. Li'') as executive directors of the Company with effect from 26 January 2017 to allow them to devote more of their time on the management and operation of the Group's data collection terminal, water, gas and heat meter business.

The Board would like to express its gratitude to Mr. Wang and Ms. Li for their valuable contributions to the Group during their terms of office. Each of Mr. Wang and Ms. Li has confirmed that he/she has no disagreement with the Board and there is no matter relating to his/her resignation that needs to be brought to the attention of the shareholders of the Company.

Appointment of executive director

The Board is pleased to announce the appointment of Mr. Tian Zhongping as an executive director of the Company with effect from 26 January 2017.

Mr. Tian Zhongping (田仲平) (''Mr. Tian''), age 37, is currently the Vice President and General

Manager of the Overseas Sales Department of the Group. Mr. Tian joined the Group in 2002 from graduation. Mr. Tian had held positions as Development Engineer for firmware, Project Manager,

Product Development Manager, Deputy Chief Engineer and Deputy General Manager of the Overseas Sales Department of the Group. Mr. Tian graduated from Xiangtan University (湘潭大學) with a

Bachelor degree in Engineering in 2002, and obtained a Master degree in Control Engineering from Zhongnan University (中南大學) in 2008. During the period when he was a Development Engineer of

the Group, Mr. Tian has obtained more than ten patents for products and technology.

Mr. Tian has entered into a service contract with the Company for a term of three years, and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Mr. Tian will receive emolument of HK$300,000 per annum. The emolument was determined by the Board with reference to his experience, duties and responsibilities in the Company as well as the current market rate.

Mr. Tian has no relationship with any Directors, senior management or substantial shareholders of the Company. As at the date of this announcement, Mr. Tian is not interested in any securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

Mr. Tian has not been a director of any listed companies in the past three years preceding the date of this announcement.

Mr. Tian has not been involved in any of the events under Rule 13.51(2)(h) to (v) of the Listing Rules and there are no other matters in relation to the appointment of Mr. Tian as an executive director that need to be brought to the attention of the shareholders of the Company.

By order of the Board of

Wasion Group Holdings Limited Ji Wei

Chairman

Hong Kong, 26 January 2017

As at the date of this announcement, the Board comprises Mr. Ji Wei, Ms. Cao Zhao Hui, Mr. Zeng Xin, Ms. Zheng Xiao Ping and Mr. Tian Zhongping as executive directors of the Company, Mr. Kat Chit as non-executive director of the Company, and Mr. Huang Jing, Mr. Luan Wenpeng, Mr. Cheng Shi Jie and Mr. Hui Wing Kuen as independent non- executive directors of the Company.