Pujiang International Group Limited As disclosed in the Announcement, there was a delay in the release of the 2023 Annual Results due to the collection of bank confirmation letters, the pending investigations by external agents on certain legal proceedings involving the Group and completion of other auditing procedures. Due to the delay in the publication of the 2023 Annual Results, there was a delay in the despatch of the 2023 Annual Report. In the course of conducting audit work on the Group's 2023 Annual Results, the auditor of the Company requested the Company to provide additional information to address the audit matters.

Amongst other matters communicated between the auditor and the Company, the following matters remained unresolved (the "Unresolved Matters") and as such the audit procedures have not been completed as at 30 March 2024, being the latest date of release of the 2023 Annual Results: in 2023, to facilitate the cross-guarantee arrangements between the Group and an independent third party supplier of the Group (the "Supplier"), (i) Shanghai Pujiang Cable Company Limited, Zhejiang Pujiang Cable Co. Ltd. (Zhejiang Pujiang Cable) and Ossen (Jiujiang) New Materials Company Limited, being subsidiaries of the Company, provided joint and several guarantee(s) in favour of independent third party lender(s) in respect of loan(s) obtained by the Supplier; (ii) the Supplier provided joint and several guarantee(s) in favour of independent third party lender(s) in respect of loan(s) obtained by Shanghai Pujiang Cable, a subsidiary of the Company; (iii) the Group has provided a series of loans to the Supplier in 2023 which remained outstanding as of 31 December 2023; and (iv) an executive director of the Company and/or other wholly-owned subsidiaries of the Group acted as borrower(s) and/or guarantor(s) in loan agreements entered into with independent third party lender(s) to facilitate the cross-guarantee arrangements; the assessment by the Company's management on the potential impact of the legal proceedings the Group has been involved in relating to the alleged non-payment of loans the Group obtained as borrower(s), and/or guarantee(s) provided by the Group in favour of the Supplier or an executive director of the Company to facilitate the cross-guarantee arrangements; the assessment by the Company's management on the potential impact of the other payables, loans and/or receivables the Group has been involved in which remained outstanding as of 31 December 2023; and the assessment by the Company's management on the reconciliation of inventories of the Group as of 31 December 2023 and certain unidentified other payables as of 31 December 2023. The Board and the management of the Company will continue to work closely with the auditor of the Company to facilitate the completion of the relevant audit procedures and to publish the 2023 Annual Results as soon as practicable.

At this stage, the Company is not in a position to assess the expected date of publication of the 2023 Annual Results and the 2023 Annual Report as this will need to be agreed with the auditor and will be announced as and when appropriate. Further announcement(s) will be made by the Company regarding the 2023 Annual Results and the despatch of the 2023 Annual Report.