China Gem Holdings Limited announced that auditors of the Group (the Auditors) needed more time to conduct and complete the audit work, therefore the Company was unable to publish the 2021 annual results on 30 April 2022. Rule 13.49(3) of the Listing Rules provides that where an issuer is unable to make an announcement of its preliminary results based on its financial statements in accordance with Rules 13.49(1) and 13.49(2) of the Listing Rules, it must announce its financial results which have yet to be agreed with its auditors not later than three months after the end of the financial year. However, after due and careful consideration and taking into consideration of he expected date of publication of the 2021 Annual Results, the Board is of the view that it would be more prudent and in the interest of the shareholders of the Company as a whole and potential investors to publish the 2021 Annual Results, which is based on the financial statements agreed with its auditors, before trading commences by the end of August 2022.

Pursuant to Rules 13.49(6) and 13.48(1) of the Listing Rules, the Company is required to publish its preliminary results for the six months ended 30 June 2022(Interim Results) not later than 31 August 2022 and despatch its interim report for the same financial period (Interim Report) to its shareholders on or before 30 September 2022. The audited 2021 annual results and 2022 Interim Results are expected to be published on 28 February 2023. The Board is aware that the delay in the publication of the audited 2021 Annual Results constitutes non-compliance with Rule 13.49(1) of the Listing Rules.