Maoye International : RESIGNATION OF EXECUTIVE DIRECTOR, VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AUTHORISED REPRESENTATIVE AND MEMBER OF THE REMUNERATION COMMITTEE

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Maoye International Holdings Limited

茂業國際控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 848)

RESIGNATION OF EXECUTIVE DIRECTOR, VICE PRESIDENT, CHIEF

FINANCIAL OFFICER, AUTHORISED REPRESENTATIVE AND MEMBER OF

THE REMUNERATION COMMITTEE

The board of directors (the "Board") of Maoye International Holdings Limited (the "Company" and, together with its subsidiaries, the "Group") announces that Mr. Liu Bo ("Mr. Liu") has resigned as (i) an executive director, (ii) the vice president, (iii) the chief financial officer, (iv) an authorised representative under Rule 3.05 of the Rules Governing the Listing of Securities (the "Listing Rules") on the Stock Exchange of Hong Kong Limited (the "Stock Exchange"), and (v) a member of the Remuneration Committee of the Company with effect from 5 December 2019, as he wishes to focus on his other business and personal commitments.

Mr. Liu has confirmed that he has no disagreement with the Board and the Company, and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange.

The Board wishes to take this opportunity to express its sincere gratitude to Mr. Liu for his valuable contributions to the Group during his tenure of office as an executive director, the vice president, the chief financial officer, an authorised representative and a member of the Remuneration Committee of the Company.

By Order of the Board

Maoye International Holdings Limited

Mr. Huang Mao Ru

Chairman

Hong Kong, 5 December 2019

As at the date of this announcement, the Board comprises two executive directors, namely, Mr. Huang Mao Ru and Mr. Zhong Pengyi; one non-executive director, namely Mr. Wang Bin; and three independent non- executive directors, namely, Mr. Chow Chan Lum, Mr. Pao Ping Wing and Mr. Leung Hon Chuen.

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