Fortunet e Commerce : DELAY IN DESPATCH OF CIRCULAR FOR MAJOR TRANSACTION IN RELATION TO DEEMED DISPOSAL OF EQUITY INTEREST IN A SUBSIDIARY

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.

CHANGYOU ALLIANCE GROUP LIMITED

暢 由 聯 盟 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1039)

DELAY IN DESPATCH OF CIRCULAR

FOR MAJOR TRANSACTION IN RELATION TO

DEEMED DISPOSAL OF EQUITY INTEREST IN A SUBSIDIARY

Reference is made to the announcement of Changyou Alliance Group Limited (the "Company") dated 29 July 2020 (the "Announcement") in respect of the Subscription Agreement and the transactions contemplated thereunder, including the Subscription. Unless otherwise defined, 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, (i) further details of the Subscription Agreement and the transactions contemplated thereunder; and (ii) other information as required by the Listing Rules, together with the notice convening the EGM and the proxy form in respect of the EGM, was expected to be despatched to the Shareholders on or before 13 August 2020 in accordance with the Listing Rules.

As additional time is required for the Company to prepare and finalise certain information to be contained in the Circular, it is expected that the date of despatch of the Circular will be postponed to a date falling on or before 26 August 2020.

By order of the Board

Changyou Alliance Group Limited

Mr. Cheng Jerome

Chairman

Hong Kong, 12 August 2020

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.