Pursuant to Rule 13.49(1) of the Listing Rules, Glory Sun Financial Group Limited is required to publish an announcement in relation to its preliminary results in respect of the financial year ended 31 December 2022 not later than three months after the end of the financial year of the Company, i.e. on or before 31 March 2023. Under Rule 13.49(2) of the Listing Rules, the preliminary announcement in relation to the Annual Results shall be based on the Company's financial statements for the year ended 31 December 2022 which shall have been agreed with the auditors. The board of directors of the Company hereby announces that the Company is unable to publish the Annual Results on 31 March 2023 due to the reason that the Company is still in the process of discussing with its auditors on the valuation of certain assets in the PRC and further information is requested by the auditors for the purpose of completing their relevant audit procedures.

The Company is working closely with its auditors to provide all the requisite information and documents to complete the audit procedures as soon as possible. However, the expected date of the publication of the Annual Results will need to be further determined with the auditors and will be announced as and when appropriate. The delay in the publication of the Annual Results constitutes a non-compliance of Rule 13.49(1) of the Listing Rules.

Pursuant to Rule 13.49(3) of the Listing Rules, if the Company is unable to publish the Annual Results within the prescribed timeframe, it must announce its results prepared based on the financial results which have yet to be agreed upon with the auditors (so far as such information is available). The Board, 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 31 December 2022 at this stage as they might not accurately reflect the financial performance and position of the Group and the publication of the unaudited management accounts could cause confusion and might be misleading to the shareholders and potential investors of the Company.