FOR IMMEDIATE RELEASE

Goldway Education Group announces possible formation of joint venture and adoption of new logos

（Hong Kong）Nov 19, 2018 (Monday) - The Board of Goldway Education Group (8160.hk) is pleased to announce that on 19 November 2018 (after trading hours), DKG Ed, a wholly-owned subsidiary of the Company, entered into the Malaysia JV MOU with DKG Hub, in relation to the parties' intention for (i) the cooperation on the Malaysia Training Course; (ii) the establishment of the Malaysia JV; and (iii) the operation and management and the parties' respective mutual rights and obligations relating to the Malaysia JV.

ADOPTION OF NEW CORPORATE LOGO AND COURSE LOGO

The Company has adopted a new corporate logo which will be printed on the corporate documents of the Company, including but not limited to its announcements, circulars, and financial reports with effect from the date of this announcement. The new logo of the Company is as follows:

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The Group has adopted a new course logo which will be used for all IT-related training courses organized by the Group. The new course logo will be printed on the advertising and training materials of the Group's IT-related training courses. The new course logo is as follows:

preview.todayir.com/newsroom_asia/goldway_edu/goldway_edu_1.jpg

Formal Malaysia JV Agreement

DKG Ed and DKG Hub shall jointly perform a feasibility study to draft the business plan for the development and provision of Tokenization services and development of other blockchain applications, which shall be completed within 30 days from the date of the Malaysia JV MOU.

DKG Ed and DKG Hub shall negotiate in good faith with each other to ensure that the Malaysia JV Agreement is entered into as soon as practicable after the completion of the business plan, but in all events no later than 60 days thereafter.

Formation of the Malaysia JV

Subject to the execution of the Malaysia JV Agreement, DKG Ed and DKG Hub intend to incorporate and register or cause to be incorporated and registered, the Malaysia JV as a private company in Malaysia with limited liability; pursuant to which:

(a) DKG Ed shall subscribe for 80% of the then issued share capital of the Malaysia JV; and

(b) DKG Hub shall subscribe for 20% of the then issued share capital of the Malaysia JV

Business of the Malaysia JV

Subject to the execution of the Malaysia JV Agreement, it is intended that the Malaysia JV shall be engaged in the development and provision of Tokenization services and development of other blockchain applications. The Malaysia JV can provide employment opportunities for the graduates of the Malaysia Training Course, as well as to apply the expertise in Tokenization in the business world.

DKG Ed and DKG Hub agree that the Malaysia JV shall act as an incubation center for the graduates of the Malaysia Training Course, and the Malaysia JV shall grant first priority for the recruitment of the graduates from the Malaysia Training Course for the development of the business of the Malaysia JV.

INFORMATION ON DKG ED AND DKG HUB

DKG Ed

DKG Ed is a company incorporated in Hong Kong with limited liability, and a wholly-owned subsidiary of the Company. DKG Ed intends to develop and enhance its tutoring services to include professional IT training and to expand the territories of its tutoring services to the South East Asia countries.

DKG Hub

DKG Hub Sdn Bhd is a company incorporated in Malaysia with limited liability. DKG Hub is principally engaged in the provision of Tokenization services by using blockchain technology.

REASONS FOR AND BENEFITS OF THE POSSIBLE FORMATION OF THE JOINT VENTURE

The Company is an investment holding company. The Group is principally engaged in the provision of tutoring services to secondary school students and primary school students in Hong Kong.

Blockchain technology in Malaysia

According to the Malaysian Blockchain Regulatory Report prepared by the University of Malaya, Malaysia is acknowledged as a lucrative place for investment and innovation, and the Malaysian government is very supportive of start-ups, including internet based start-ups where the prospects of blockchain can be explored. In March 2017, local Small and Medium Scale Enterprises ("SMEs") in Malaysia were urged to adopt the usage of electronic trading platforms as it is almost compulsory for every business to be part of it. In line with the Malaysian government's aspiration, the incorporation of blockchain technology in electronic trading platforms would be attractive to SMEs as the need for middlemen intermediaries could be reduced or in some cases eliminated and this in turn reduces the transaction costs of running businesses.

The Malaysian government is seeking to explore blockchain solutions in the nation's three largest industries, namely, renewable energy, palm oil, and Islamic finance. The Malaysian Industry-Government Group for High Technology ("MIGHT") will be spearheading the move to adopt blockchain in each industry in order to increase transparency, sustainability, and logistical efficiency. MIGHT has said that Malaysia would be adopting blockchain by 2025, and Malaysian banks are already taking proactive steps to encourage its development in the country. The Board is of the view that blockchain technology is expected to offer enormous potential for bringing about radical change in wide range of industries, business models and operating processes, hence leading to a widespread adoption of this new technology.

The Board is of the view that the terms of the Possible Formation of the Joint Venture are fair and reasonable and the Possible Formation of the Joint Ventures is in the interests of the Company and the Shareholders as a whole.