(Hong Kong, July 15, 2020) A media group, built on twin pillars of a leading TV/film production business and a higher education business focused on media and arts - Cathay Media and Education Group Inc. (“Cathay Media and Education” or the “Company”, together with its subsidiaries, the “Group”, stock code: 1981), was successfully listed and commenced dealings on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) today. Its share price reached an intra-day high of HK$5.23 per share and closed at HK$4.92 per share, approximately 58.71% higher than the offer price of HK$3.10 per share. A total of approximately 227.27 million shares were traded, with an aggregate turnover of approximately HK$1,034.75 million.

Mr. Pu Shulin, Executive Director, Chairman and Chief Executive Officer of Cathay Media and Education Group Inc., said, “Getting listed on the Hong Kong Stock Exchange is an important milestone in the Company’s development. We are very grateful for the support and attention from all our investors. Listing in Hong Kong not only enables the Company to enter into the international capital markets but also provides funds for the long-term development of the Company to grasp development opportunities in the industry. In the future, we will continue to produce high quality content, strengthen our brand recognition and expand the capacity of our University and optimize our pricing to improve profitability. In the meantime, we will also enhance our core competitiveness, further strengthen our leading position in the markets of TV/film production and higher education business focused on media and arts in China, and generate investment returns for our shareholders and drive our sustainable growth.”