Asiaray Secures Exclusive Concession Rights for Advertising Media of 5 Metro Lines in Shenzhen

HONG KONG,March 23,2021 -- On March 22,2021,Asiaray Media Group Limited ("Asiaray" or the "Group"; stock code: 1993),an outstanding out-of-home ("OOH") media company with a strategic focus on mega transport adverting media management,including airport,metro line and high speed rail line,etc.,is pleased to announce that its indirectly wholly-owned subsidiary Shanghai Asiaray Advertising Company ("Shanghai Asiaray") has signed an exclusive concession rights agreement with Shenzhen Metro. Pursuant to the agreement,Shanghai Asiaray was granted nine-year exclusive rights to use and operate the media resources in Shenzhen Metro Line 2 (Phase 3),6,8 (Phase 1) and 10,with the first term of agreement period has begun since 1 January 2021. The Group has also renewed the exclusive advertising and media resources for Shenzhen Metro Line 3 for another nine years at the same time. The new business base will greatly increase the media resources of Asiaray in Shenzhen railway,and further expand the Group's network presence in the Greater Bay Area. The rapid expansion of scale is expected to become a new growth driver.

Shenzhen is a first-tier city in China. In 2020,her economic aggregate ranked third among all mainland cities. The city plays an important role of being the country's testing ground of and avenue for demonstrating innovative system changes,and expansion and open-door policy initiatives. It is also a major hub in the Greater Bay Area and has been developing in leaps and bounds with GDP per capita surging quickly. Shenzhen Metro is the municipal railway system in Shenzhen City,Guangdong Province,the PRC. Currently,it has 11 lines serving on average over 5.6 million passengers a day,which is about 56% of all passengers using public transport in the city,making it the backbone of the public transportation system in Shenzhen. Including the resources it has of Line 3 and 4,and the 4 new lines secured this time,Asiaray currently operates half of advertising and media resources of the Shenzhen Metro,increasing its penetration notably. With the new resources,Asiaray will fully exploit the strength of its Offline and Online ("O&O") new media strategy that integrates branding and sales to offer innovative and cost-effective advertising solutions to maximise the advertisement's value.

Mr Vincent Lam,Founder,Chairman and Executive Director of Asiaray, said,"We are very pleased to gain the trust of Shenzhen Metro again and obtained the exclusive concession right to operate the advertising and media resources of 5 metro lines. This is an important milestone for the Group,marking its speedy development in Shenzhen and its improving railway network presence in the Greater Bay Area. In addition to obtaining the right to operate advertising media for 4 metro lines,we have also renewed the contract for Shenzhen Metro Line 3 which we obtained since 2010. In the future,together with the media resources of 6 metro lines,we will continue to develop advertising media in Shenzhen and deepen the penetration rate in the industry."

"As a leader in the advertising industry,we have many years of experience in advertising media operation with competitive edges,especially our innovative Offline & Online New Media strategy,which together promise tremendous synergies. In the future,we will gradually roll out latest programmatic buying along all the metro lines. We will take advantage of big data to distribute scenario-matching advertising contents. This will greatly reduce wastage and enhance advertising efficiency,and at the same time simplify placement procedures. With advantage in the O&O New Media,we aim to attract new advertisers,especially those from online,who are relatively new to metro advertising,therefore expand customer varieties. Building on the successful cooperation with top KOL ** last year,we expect to continue to introduce more interactive and innovative promotion models that integrate traditional advertising with online activities. With Asiaray's leadership in metro advertising and extensive business presence,plus its advantage of 'mega transport,multi-media and fully comprehensive settings' and a portfolio of diverse advertising solutions,we are confident of grasping the opportunities of up and coming infrastructure projects in China. Thus enabling us to expand market coverage and generate better returns for shareholders."

"Together with the Group's previously secured media resources in the Greater Bay Area,including Shenzhen Bao'an International Airport,Shenzhen Metro Line 4,Zhuhai Jinwan Airport,4 metro lines in Hong Kong,Guangzhou Shenzhen Hong Kong High Speed Railway (Hong Kong Section),the Hong Kong- Zhuhai-Macao Bridge (Zhuhai Port),bus bodies and bus shelter of KMB & LWB in Hong Kong,and billboards in Hong Kong and Macau,Asiaray is actively expanding its network in the Greater Bay Area,aiming for a nationwide mega transport media network. Combining the existing aviation media network of more than 30 airports and the metro media network of 27 lines in nine cities in Asia,the Group is set to generate greater synergies and get one step closer to becoming the largest transportation media operator in Asia."

AboutAsiarayMediaGroupLimited (stockcode:1993.HK)

Established in 1993,Asiaray is an out-of-home media company in Greater China with a strategic focus on mega transport advertising media management,etc. Currently,the Group's business network covers nearly 40 cities in Greater China with media resources at over 33 airports (including exclusive concession rights at 27 airports) and a total of 27 metro lines in Mainland China also including the Singapore Thomson-East Coast MRT Line (TEL). Further,the Group was granted the exclusive advertising media resources in Guangzhou Shenzhen Hong Kong High Speed Railway (Hong Kong Section),the Hong Kong-Zhuhai-Macao Bridge (Zhuhai Port) and KMB and LWB. In recent years,the Group was also granted the advertising media concessions of Chengdu Tianfu International Airport,Kunming Railway Station and Lijiang Railway Station.Asiaray is also committed to investing in corporate social responsibility and environmental protection initiatives. The Company has been awarded the "Hong Kong Awards for Environmental Excellence (HKAEE)" and the "Hong Kong Green Organisation" for four consecutive years; and also named a "Caring Company" for ten consecutive years.For more details about Asiaray,please visit its official website: www.asiaray.comor follow the Group's Wechat (ID:asiaray_airport).