China Saite : Change of Independent Non-executive Director and Member of Remuneration Committee, Audit Committee and Nomination Committee

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.

CHINA SAITE GROUP COMPANY LIMITED

中 國 賽 特 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 153)

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR

AND MEMBER OF REMUNERATION COMMITTEE, AUDIT COMMITTEE AND NOMINATION COMMITTEE

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Eddie Hurip has been appointed as an independent non-executive director with effect from 31 May 2017.

CHANGE OF MEMBER OF REMUNERATION COMMITTEE, AUDIT COMMITTEE AND NOMINATION COMMITTEE

The Board further announces that Mr. Hurip has been appointed as the chairman of the remuneration committee and a member of the audit committee and nomination committee of the Company with effect from 31 May 2017.

Reference is made to the announcement (the "Announcement") issued by China Saite Group Company Limited (the "Company") on 26 May 2017 in relation to resignation of Mr. Chen Tiegang as an independent non-executive director, chairman of Audit Committee and member of Remuneration Committee of the Company with effect from 26 May 2017.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of the Company hereby announces that subsequent to the resignation of Mr. Chen Tiegang as an independent non-executive director, Mr. Eddie Hurip ("Mr. Hurip ") is appointed as an Independent Non-Executive Director with effect from 31 May 2017.

The biographical details of Mr. Hurip are set out as follows:

Mr. Eddie Hurip, aged 58, obtained a bachelor's degree in Electrical Engineering and Computer Science from the University of California, Berkeley and an Executive MBA degree from the Marshall Business School of the University of Southern California. Mr. Hurip has over ten years of management experience in the real estate industry in both the PRC and Hong Kong. Mr. Hurip was an executive director of China Overseas Grand Oceans Group Limited (formerly known as Shell Electric Mfg. (Holdings) Company Limited, Hong Kong stock code: 0081) from 2006 to 2010. Mr. Hurip offered consultancy services to Nanjing Fullshare Asset Management for the acquisition and the resumption of trading in the shares of Fullshare Holdings Limited (formerly known as Warderly International Holdings Limited, Hong Kong stock code: 607) which was completed in December 2013. Mr. Hurip retired as a non-executive director of Fullshare Holdings Limited (Hong Kong stock code: 607) on 31 December, 2016.

It is currently proposed that Mr. Hurip will enter into a letter of appointment with the Company and his initial term of appointment will be three years commencing on 31 May 2017 until the next general meeting of the Company. Mr. Hurip's appointment is subject to retirement by rotation at least once every three years and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company. Subject to the articles of association of the Company, the appointment can be terminated by either party by serving not less than one-month's written notice to the other party. Under the letter of appointment, Mr. Hurip will receive a remuneration of HK$120,000 per annum and such other fringe benefits as the Board shall in its absolute discretion deem appropriate.

The remuneration of Mr. Hurip has been reviewed by the remuneration committee of the Company and was determined by the Board with reference to the prevailing market conditions, and the qualifications, experience, duties and responsibilities of Mr. Hurip with the Company. The remuneration of Mr. Hurip is subject to review by the Board from time to time pursuant to the power conferred on it at the annual general meeting of the Company.

As at the date of this announcement, save as disclosed above, Mr. Hurip confirms that (i) he does not have any relationship with any other directors, senior management, substantial shareholders, or controlling shareholders of the Company; (ii) he does not have any interest in the Shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance; (iii) he does not hold other positions with the Company or other members of the Group; and (iv) he does not hold any other directorships in the last three years in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas.

Mr. Hurip has confirmed that he is not aware of any other matter in relation to his appointment that needs to be brought to the attention of the shareholders of the Company, and, save as disclosed in this announcement, there is no other information which is required to be disclosed pursuant to the requirements under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The Board would like to take this opportunity to welcome Mr. Hurip for joining the Board.

CHANGE OF MEMBER OF REMUNERATION COMMITTEE, AUDIT COMMITTEE AND NOMINATION COMMITTEE

The Board further announces that subsequent to the resignation of Mr. Chen Tiegang from his positions as the chairman of the remuneration committee and a member of the audit committee and nomination committee, Mr. Hurip has been appointed as the chairman of the remuneration committee and a member of the audit committee and nomination committee of the Company with effect from 31 May 2017.

Reference is made to a previous announcement which mentioned that the Company failed to comply with the requirements of Rules 3.11, 3.23 and 3.27 of the Listing Rules due to the resignation of Mr. Chen Tiegang. After the appointment of Mr. Hurip as an independent non- executive director of the Company, the number and qualifications of independent non- executive directors and the composition of the Board as well as the membership of the audit committee and remuneration committee of the Company meet the requirements of Rules 3.11,

3.23 and 3.27 of the Listing Rules.

By order of the Board

China Saite Group Company Limited

Jiang Jianqiang

Chairman

Hong Kong, 31 May 2017

As at the date of this announcement, the executive directors of the Company are Mr. JIANG Jianqiang, Mr. SHAO Xiaoqiang and Mr. XU Fanghua; and the independent non- executive directors are Mr. XU Jiaming, Mr. LUK Chi Shing and Mr. Eddie Hurip.