Xinhua News Media : APPOINTMENT OF CHIEF EXECUTIVE OFFICER

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.

XINHUA NEWS MEDIA HOLDINGS LIMITED

新華通訊頻媒控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 309)

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The board (the "Board") of directors (the "Directors") of Xinhua News Media Holdings Limited (the "Company") is pleased to announce that with effect from 14 August 2020, Mr. Fu Jun ("Mr. Fu"), being the executive Director, has been appointed as the chief executive officer of the Company (the "CEO") and is responsible for setting the Company's corporate strategy development, capital operations, and operations management.

Mr. Fu, aged 52, was appointed as the executive Director since 7 April 2020. Pursuant to the appointment letter entered into between the Company and Mr. Fu, the appointment of Mr. Fu commenced on 7 April 2020 shall continue until the conclusion of the forthcoming annual general meeting and be eligible for re-election. Thereafter he is also subject to the retirement by rotation and re-election at a general meeting of the Company in accordance with the Articles of Association.

Mr. Fu holds a Master of Art degree in Japanese literature from the University of Tsukuba, Japan. He was mainly engaged in internet and media before 2005. He was the Chief Representative in the PRC for Japan Key Station Co. Ltd. ("Key Station"), the CEO of Jiahe Netstar Network Technology Co. Ltd and the Secretary General of BeiJing Network Science and Technology Promotion Committee. He was responsible for the establishment of the Chinese website for Key Station and helped to set up the China Network TV station and the Mainstream Media Network. After 2005, Mr. Fu engaged in financial service, he was the Vice President of Wealth Index Investment Management Co. Ltd. and the CEO of Oriental Fuying Investment Management Co., Ltd., and participated in overseas IPO and private equity investment of over 20 PRC's enterprises. He has more than 20 years of experience in the areas of business analysis and development across major cities in the PRC and was responsible for developing and implementing business strategies of the Company in the PRC.

- 1 -

As at the date of this announcement, Mr. Fu was interested, as individual beneficial owner, in 8,000,000 Share Options with exercise period between 23 July 2020 and 22 July 2030 at the exercise price of HK$0.094 granted to him, pursuant to the Share Option Scheme, representing in aggregate approximately 0.48% of the issued share capital of the Company pursuant to Part XV of the SFO.

Save as disclosed above and as at the date of this announcement, Mr. Fu (i) did not hold any position with the Company or other members of the Group; (ii) did not have any relationship with the Directors, senior management, substantial shareholders or controlling shareholders (as defined in the Listing Rules) of the Company; (iii) did not hold any directorship in public companies in the last three years the securities of which are listed on any securities market in Hong Kong or overseas; and (iv) did not have any interests or deemed interests in the securities of the Company which are required to be disclosed pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above and as at the date of this announcement, there is no other matter relating to the appointment of Mr. Fu that needs to be brought to the attention of the shareholders of the Company, nor is there any other information which is required to be disclosed pursuant to requirements of Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Listing Rules.

The Board would like to express its warmest welcome to Mr. Fu on his new position.

By order of the Board

Xinhua News Media Holdings Limited

Tsui Kwok Hing

Executive Director

Hong Kong, 14 August 2020

As at the date of this announcement, the Board comprises four executive Directors, namely, Mr. Lo Kou Hong, Mr. Tsui Kwok Hing, Mr. Fu Jun and Mr. Leung Cheung Hang; and three independent non-executive Directors, namely, Mr. Wang Qi, Mr. Tsang Chi Hon and Mr. Wong Hon Kit.

- 2 -