The board of directors of the China Properties Investment Holdings Limited informed the shareholders of the Company and potential investors of the Company that, the audit progress and procedures of the consolidated financial statements of the Group for the year ended 31 March 2022 (the "2022 Annual Results") has been disrupted due to the outbreak of novel coronavirus (COVID-19) epidemic, including but not limited to the COVID-19 lockdown restrictions and prevention measures implemented in Shanghai where the Group's principal place of business in China is located, and certain degree of adverse impact on audit work in China on the expected credit loss on loan receivables, valuation on investment properties, properties under development and rights of use assets, bank confirmations and assessment on recoverable amount of sundry receivable, the auditors of the Company ("Auditors") require more time for conducting and completing the audit in respect of the 2022 Annual Results. In view of the above, the Company is unable to publish the 2022 Annual Results which shall have been agreed with the Auditors by 30 June 2022 in accordance with Rules 13.49(1) and 13.49(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). At the Board meeting scheduled to be held on 30 June 2022, the Board will review and approve, among other matters, the publication of 2022 Unaudited Annual Results based on the management accounts of the Group for the year ended 31 March 2022 which will have been reviewed by the audit committee of the Company but will have not been agreed with the Auditors.

Following the completion of the audit by the Auditors, the Company will publish an announcement containing the 2022 Annual Results as agreed with the Auditors and the material differences (if any) as compared with the 2022 Unaudited Annual Results on or before 31 July 2022. Further announcement(s) will be made by the Company as and when appropriate.