The Board of China Beststudy Education Group hereby announced that, due to the suspension of work and travel, logistics and other restrictions in Mainland China and Hong Kong caused by the outbreak of the COVID-19 pandemic, the auditing processes of the Group's 2021 Annual Results have been adversely affected as follows: (1) the progress of replying to the confirmation letter issued by the auditors of the Company (the "Auditors") was significantly delayed compared with previous years; and (2) the procedures for requesting on-site verification by the Auditors were delayed. For the above reasons, the Auditors are not able to complete all audit work as scheduled. Given that the auditing processes are expected not to be completed on or before the date of the Board meeting originally scheduled to be held on 31 March 2022 and the Auditors need additional time for conducting their audit work, it is anticipated that the Company will not be able to publish the 2021 Annual Results on or before 31 March 2022 in accordance with Rules 13.49(1) and 13.49(2) of the Listing Rules.

The Company will complete the audit and reporting processes after reaching consensus with the Auditors, and expect to publish the audited 2021 Annual Results as soon as practicable no later than 20 April 2022. Further announcement(s) will be made by the Company as and when appropriate. Rule 13.49(3) of the Listing Rules provides that where an issuer is unable to make an announcement of its preliminary results, so far as the information is available, it must announce its results for the financial year based on the financial results which have yet to be agreed with the auditors.

In order to keep the shareholders and potential investors of the Company informed of the Group's business operations and financial position, the Company expects to publish the preliminary unaudited 2021 Annual Results, which will be reviewed by the audit committee of the Company but have not been agreed with the Auditors on 31 March 2022.