The Board of 21 Holdings Limited announced that Mr. Lei Hong Wai resigned as executive Director and the chairman of the Board, Mr. Cheung Kwok Fan resigned as executive Director, and Ms. Chio Chong Meng resigned as independent non-executive Director, all with effect from 2 September 2015 upon Completion as a result of the Subscribers becoming the controlling Shareholders and in accordance with the terms of the Subscription Agreement. The Board announced the appointments of Mr. Dong Ping and Mr. Steven Xiang Shaokun as executive Directors, Mr. Ning Hao, Mr. Xu Zheng, Mr. Gao Zhikai and Mr. So Chak Kwong as non-executive Directors, and Mr. David Su Tuong Sing and Mr. Li Xiaolong as independent non-executive Directors by the Board on 2 September 2015 with effect from 2 September 2015 upon completion. Mr. Dong, aged 54, has extensive experience, knowledge and connection in investment and operation of Chinese media, advertisement, satellite TV, film productions and media fields and was the former Chairman of ChinaVision Media Group Limited.

Mr. Xiang, aged 52, was a partner of Weil, Gotshal & Manges LLP, an international law firm, where he has led its China practice since 2004. Previously, Mr. Xiang was a partner in the Shanghai office of Clifford Chance, an international law firm from 2002 to 2004. Mr. Ning is a film director and screenwriter who has directed seven films between 2003 and 2014.

Mr. Xu is an actor, director, screenwriter and producer. Mr. Gao, aged 53, is the vice chairman of Sino-Europe United Investment Corporation. Mr. Gao has extensive experience, knowledge and professional expertise in law, investment banking, venture capital and private equity, and corporate management.

Mr. So, aged 70, is currently an independent non-executive director of the AIA Group Limited. From August 2007 to September 2010, Mr. So served as an independent non-executive director of AIA Company Limited. Mr. Li, aged 50, has more than 20 years of experience in the industry of information technology and telecommunications.

He is the founder and chairman of Net 263 Ltd. The Board announced that Mr. Lei Hong Wai ceased to be the chairman of the nomination committee of the company and a member of the remuneration committee of the company; and Ms. Chio Chong Meng ceased to be the chairman of the remuneration committee of the company and a member of audit committee and nomination committee of the company with effect from 2 September 2015 upon Completion. Following the resignation of Mr. Lei Hong Wai as the chairman of the Board, the nomination committee of the company will no longer be chaired by either the chairman of the Board or an independent non-executive Director as required under paragraph A.5.1 of Appendix 14 to the Listing Rules.