JMU Limited to Hold Annual General Meeting on April 30, 2020

BEIJING,March 30,2020 --JMU Limited (the "Company") (Nasdaq: MFH) today announced that it will hold its annual general meeting of shareholders at Room 536,5th Floor,Building No.1,No. 35 Shangdi East Road,Haidian District,Beijing,People's Republic of China on April 30,2020 at 10:00 a.m. (local time).

The Board of Directors of the Company has fixed the close of business on March 31,2020 (Eastern Standard Time) as the record date for determining the shareholders entitled to receive notice of the annual general meeting or any adjournment or postponement thereof. Holders of record of the Company's ordinary shares at the close of business on the record date will be entitled to attend,and to vote at,the annual general meeting and any adjournment or postponement thereof in person. Beneficial owners of the Company's ADSs are welcome to attend the annual general meeting in person but must act through Citibank,N.A.,the depositary of the Company's ADS program,to exercise their voting rights for the underlying ordinary shares. In order to assist us in our preparation for the annual general meeting,please RSVP by email to ir@mercurity.com.

The notice of the annual general meeting,which sets forth a resolution to be submitted to shareholder approval at the meeting,is available on the Investor Relations section of the Company's website at http://ir.ccjmu.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend," "ought to," "plan," "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things,statements that are not historical facts,including statements about the Company's beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date,and the Company does not undertake any obligation to update any forward-looking statement,except as required under applicable law.

Contact:

Xingyan Gao

JMU Limited

ir@ccjmu.com

Tel: +86 (021) 6015-1166,ext. 8904

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