Combest : DELAY IN PUBLICATION OF ANNUAL RESULTS AND DESPATCH OF ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2019 AND POSTPONEMENT OF BOARD MEETING AND CONTINUED SUSPENSION OF TRADING (in PDF)

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COMBEST HOLDINGS LIMITED

康 佰 控 股 有 限 公 司 *

(incorporated in the Cayman Islands with limited liability)

(Stock code: 8190)

DELAY IN PUBLICATION OF ANNUAL RESULTS AND

DESPATCH OF ANNUAL REPORT

FOR THE YEAR ENDED 30 JUNE 2019 AND POSTPONEMENT OF BOARD MEETING AND CONTINUED SUSPENSION OF TRADING

This announcement is made by Combest Holdings Limited (the "Company") pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") and the Inside Information Provisions (as defined in the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 29 May 2019, 6 August 2019 and 28 August 2019 in respect of the suspension of trading in the shares of the Company (the "Shares"), the resignation of auditor of the Company and quarterly update on recent development respectively (collectively, the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements.

DELAY IN PUBLICATION OF ANNUAL RESULTS AND DESPATCH OF ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2019 AND POSTPONEMENT OF BOARD MEETING

The Board announces that the Company will not be able to publish the announcement (the "Results Announcement") in respect of the annual results and annual report for the year ended 30 June 2019 (the "2019 Annual Results and Annual Report") on or before 30 September 2019. As announced in the Company's announcement dated 6 August 2019, BDO Limited has resigned as the auditor of the Company and its subsidiaries with effect from 6 August 2019. The Company is currently looking for a new audit firm to act as the new auditor of the Company to fill in the vacancy caused by the resignation of BDO Limited and will make further announcement(s) pursuant to the GEM Listing Rules once the appointment is made. Accordingly, the Board meeting to approve the publication of the Results Announcement will be postponed to a date to be fixed by the Board and there will be a delay in the publication of the 2019 Annual Results and Annual Report. The Company will publish a further announcement in due course to inform the shareholders of the Company on the date of the release of the Results Announcement and the Board meeting.

• For identification purposes only

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The Board acknowledges that the delay in publication of the Results Announcement and the annual report within three months after the end of the financial year ended 30 June 2019 as required under Rules 18.03, 18.48A and 18.49 of the GEM Listing Rules will constitute a non-compliance of the GEM Listing Rules.

The Company, after due and careful consideration, is of the view that it would not be appropriate for the Company to publish the unaudited management accounts of the Group for the year ended 30 June 2019 at this stage as it may not accurately reflect the financial performance and position of the Group and may be misleading and confusing to the shareholders and potential investors of the Company.

CONTINUED SUSPENSION OF TRADING IN THE SHARES

Trading in the Shares on the GEM has been suspended since 9:00 a.m. on 29 May 2019 and will continue to be suspended until further notice. The Company will keep the public informed of the latest developments by making further announcement(s) as and when appropriate.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares.

By Order of the Board

Combest Holdings Limited

Liu Tin Lap

Chairman

Hong Kong, 30 September 2019

As at the date of this announcement, the Board is comprised of Mr. Liu Tin Lap and Mr. Lee Man To as executive Directors, Mr. So Pak Kei, Mr. Tsui Kin Fung and Dr. Cheng Chak Ho as independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the GEM's website at www.hkgem.com on the "Latest Company Announcement" pages for 7 days from the date of this posting and the website of the Company at http://www.irasia.com/listco/hk/combestholdings/index.htm.

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