AirNet Announces Results of 2019 Extraordinary General Meeting

BEIJING,May 27,2019 -- AirNet Technology Inc.,formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: AMCN),an in-flight solution provider on connectivity,entertainment,and digital multimedia inChina,today announced the results of its extraordinary general meeting of shareholders held in Beijing on May 27,2019 (the "2019 EGM").

At the 2019 EGM,the shareholders of AirNet approved the following,as special resolutions,effectively immediately:

the name of the Company be changed from "AirMedia Group Inc." to "AirNet Technology Inc.".

the amended and restated memorandum and articles of association of the Company currently in effect be amended and restated by the deletion in its entirety and the substitution in its place of the Second Amended and Restated Memorandum and Articles of Association attached as Appendix III of the notice of extraordinary general meeting dated April 17,2019.

About AirNet Technology Inc.

Incorporated in 2007 and headquartered inBeijing,China,AirNet (Nasdaq: AMCN) provides in-flight solutions to connectivity,entertainment and digital multimedia inChina. Collaborating with our partners,AirNet empowers Chinese airlines with seamlessly immersive Internet connections through a network of satellites and land-based beacons,provides airline travelers with interactive entertainment and a coverage of breaking news,and furnishes corporate clients with advertisements tailored to the perceptions of the travelers. For more information,please visit us athttp://ir.ihangmei.com

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements,including but not limited to,the Company's business strategies and initiatives as well as the Company's business plans; the Company's future business development,results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; trends and competition inChina; general economic and business conditions inChina; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition,results of operations,business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances,or changes in its expectations,except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable,it cannot assure you that such expectations will turn out to be correct,and the Company cautions investors that actual results may differ materially from the anticipated results.

For more information,please contact:

Company Contact:

Yan Liu

Director,Investor Relations

AirNet Technology Inc.

Tel: +86-10-8460-8678

Email:ir@ihangmei.com

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