Beijing Sports and Entertnmt Ind : Announcements and Notices - Lapse of the Agreement in Relation to the Capital Injection Into the Target Company

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(incorporated in the Cayman Islands with limited liability)

(Stock code: 1803)

LAPSE OF THE AGREEMENT

IN RELATION TO THE CAPITAL INJECTION INTO

THE TARGET COMPANY

Reference is made to the announcement of Beijing Sports and Entertainment Industry Group Limited (the "Company") dated 5 July 2018 (the "Announcement") in relation to the capital injection into the Target Company. Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

The Board announces that the Agreement in relation to the capital injection into the Target Company had lapsed and terminated on 30 September 2018 and the Company will not proceed with the completion of the Agreement. As at the date of this announcement, the Directors are not aware that the lapse of the Agreement would cause any material impact to the business operation of the Group.

By order of the Board

Beijing Sports and Entertainment Industry Group Limited

Liu Xue Heng

Chairman

Hong Kong, 7 December 2018

As at the date of this announcement, the executive Directors are Mr. Liu Xue Heng, Mr. Jan Wing Fu, Barry, Mr. Zhu Shixing, Mr. Lam Ka Tak, Mr. Zhang Tingzhe, and Mr. Tsui Ngai, Eddie, the non-executive Director is Mr. Hu Yebi and the independent non-executive Directors are Mr. Tse, Man Kit, Keith, Mr. Lok Lawrence Yuen Ming, Mr. Xin Luo Lin and Mr. Pan Lihui.