Fortunet e Commerce : Announcements and Notices - Further Delay in Dispatch of Circular Connected Transaction Issue of Unlisted Warrants under Specific Mandate

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.

FORTUNET E-COMMERCE GROUP LIMITED 㒥ၣ׸ਠණྠϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1039)

FURTHER DELAY IN DISPATCH OF CIRCULAR

CONNECTED TRANSACTION

ISSUE OF UNLISTED WARRANTS UNDER SPECIFIC MANDATE

Reference is made to the announcement of Fortunet e-Commerce Group Limited (the "Company") dated 26 March 2018 and 30 April 2018 (the "Announcement") in relation to the issue and subscription of 298,000,000 warrants by the Company to Century Investment (Holding) Limited, being the controlling shareholder of the Company. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, (a) further information on the Warrant Subscription Agreement, the Warrant Instrument and the transactions contemplated thereunder; (b) a letter of advice from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders in respect of the Warrant Subscription Agreement, the Warrant Instrument and the transactions contemplated thereunder; (c) a letter of recommendation from the Independent Board Committee to the Independent Shareholders in respect of the Warrant Subscription Agreement, the Warrant Instrument and the transactions contemplated thereunder; (d) a notice convening the EGM; and (e) other information required under the Listing Rules is expected to be despatched to the Shareholders by 18 May 2018.

As additional time is required to prepare and finalise certain information to be included in the Circular, it is expected that the date of despatch of the Circular will be postponed to a date no later than 30 June 2018.

By order of the Board Fortunet e-Commerce Group Limited

Mr. Chan Chi Keung Company Secretary

Hong Kong, 18 May 2018

As at the date of this announcement, the executive Directors are Mr. Cheng Jerome and Mr. Yuan Weitao; the non-executive Director is Mrs. Guo Yan; and the independent non-executive Directors are Mr. Wong Chi Keung, Mr. Liu Jialin and Mr. Chan Chi Keung Alan.