Beijing Sports and Entertainment Industry : SUPPLEMENTAL ANNOUNCEMENT UPDATE ON THE ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020

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(incorporated in the Cayman Islands with limited liability)

(Stock code: 1803)

SUPPLEMENTAL ANNOUNCEMENT

UPDATE ON THE ANNUAL RESULTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Reference is made to the announcement of Beijing Sports and Entertainment Industry Group Limited (the "Company", together with its subsidiaries, the "Group") dated 29 March 2021 in relation to the annual results for the year ended 31 December 2020 (the "2020 Annual Results Announcement"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the 2020 Annual Results Announcement.

AUDITOR'S AGREEMENT ON THE 2020 ANNUAL RESULTS

The Board of Director wishes to clarify that the annual results for the year ended 31 December 2020 as stated in the 2020 Annual Results Announcement had been agreed by the Group's auditor, Ernst and Young, as required under Rule 13.49(2) of the Listing Rules.

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SCOPE OF WORK OF ERNST & YOUNG

The figures in respect of the Group's consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income and the related notes thereto for the year ended 31 December 2020 as set out in the 2020 Annual Results Announcement have been agreed by the Group's independent auditor, Ernst & Young. The work performed by Ernst & Young in this respect did not constitute an assurance engagement in accordance with Hong Kong Standards on Auditing, Hong Kong Standards on Review Engagements or Hong Kong Standards on Assurance Engagement issued by the Hong Kong Institute of Certified Public Accountants and consequently, no assurance has been expressed by Ernst & Young on 2020 Annual Results Announcement.

By order of the Board

Beijing Sports and Entertainment Industry Group Limited

Liu Xue Heng

Chairman

Hong Kong, 9 April 2021

As at the date of this announcement, the executive Directors are Mr. Liu Xue Heng, Mr. Lam Ka Tak and Mr. Hou Gongda, 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.

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