Maoyan Entertainment Announces Changes to Its Board of Directors

BEIJING, June 8, 2020 /PRNewswire/ -- Maoyan Entertainment ("Maoyan" or the "Company", 1896.HK), a leading platform providing innovative Internet empowered entertainment services in China, today announced the appointment of Mr. Wu Cheng as a non-executive director and the appointment of Ms. Lin Liu as an independent non-executive director to the Company's Board of Directors, effective on June 9. In the meantime, Mr. Weibiao Zhan and Mr. Zhenyu Luo will resign from the Company's Board of Directors, effective on June 9.

Mr. Cheng currently serves as the Vice President of Tencent, Chief Executive Officer of Tencent Pictures and Chief Executive Officer of China Literature. Mr. Cheng assumed the roles of Chief Executive Officer and Executive Director of China Literature in April 2020. In this role, Mr. Cheng helped China Literature to further engage with Tencent as part of Tecent's pan-entertainment ecosystem in the areas of literature, movies, comics, and games. Notably, this collaboration helped to promote the development of a quality pan-entertainment content ecosystem and strengthen related collaborations around entertainment IP. Mr. Cheng has served as the Chief Executive Officer of Tencent Pictures since September 2015, wherein he leads its operations and cross-industry strategic cooperation initiatives. In March 2013, Mr. Cheng became the Vice President of Tencent. Mr. Cheng has accumulated substantial experience at Tencent developing collaborations in the areas of movies, comics and eSports. Mr. Cheng has also promoted and advanced Tencent's "Pan-entertainment Strategy," through which he contributed to multiple areas at Tencent, including the systematic development of IP value. In addition to these roles, Mr. Cheng is also the Vice Chairman and Executive Director of Huayi Tencent Entertainment Company. Mr. Cheng graduated from Tsinghua University with a Bachelor of Science degree in Physics. He also holds an EMBA from the Olin School of Business at Washington University.

Ms. Liu was a former Senior Vice President of Meituan Dianping. From April 2003 to March 2016, Ms. Liu served successively as the General Manager of the human resources department and the General Manager of management and consulting department of president office of Tencent. Ms. Liu graduated from Nankai University with a master's degree in Economics in December 2006.

About Maoyan Entertainment

Maoyan Entertainment (1896.HK) is a leading internet platform providing innovative services in China's comprehensive entertainment industry. Since its inception, Maoyan has grown from an online movie ticketing service provider to an innovative one-stop platform for entertainment services. Maoyan has a comprehensive strategy to become a leading platform servicing the entire entertainment industry in China. This strategy is supported by its five key platforms: its comprehensive entertainment ticketing platform, product platform, data platform, marketing platform, and financing platform.

Investor Relations Contact
Maoyan Entertainment
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ICR Inc.
Xinran Rao
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Tel: +1 (212) 517-4035

SOURCE Maoyan Entertainment

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