China Wood Optimization (Holding) Limited announced that as previously announced by the Company, due to the outbreak of the Epidemic, the progress of certain audit field works in the PRC for the 2020 Annual Results have been disrupted by the work suspension and travel restrictions in force in Hebei of the PRC to combat the outbreak of the Epidemic during the period from January 2021 to early March 2021. Furthermore, since April 2021, the Group has been involved in the Investigation by the Authority against one of the Former Supplier and Former Shareholder whereby the Investigation involved on-site investigation at two of the Group 's offices in Shijiazhuang, Hebei Province, which restricted the Company 's auditors from accessing the Group 's accounting records and completing their audit works, and in turn prevented the Company from publishing its 2020 Annual Results, 2021 Interim Results, 2021 Annual Results and 2022 Interim Results. The Company was informed by the Authority on 2 November 2022 that it has agreed to allow access by the Company and its auditors of the accounting records of the Group for audit purpose.

As a result, Zhonghui have already commenced their audit field at the two offices for audit purposes. As a result, taken into account the estimated audit/review timeline proposed by Zhonghui, the Company estimated that it should be able to finalise and publish the 2020 Annual Results, 2021 Interim Results, 2021 Annual Results and 2022 Interim Results by 30 April 2023. Due to the delay in the publication of the 2020 Annual Results, the Company was unable to publish its 2021 Interim Results, 2021 Annual Results and 2022 Interim Results, and despatch its 2021 Interim Report, 2021 Annual Report and 2022 Interim Report to its Shareholders within the prescribed timeline as specified under the Listing Rules.

The Company will publish further announcement to inform the Shareholders and potential investors of the date of publication of the 2021 Interim Results, 2021 Annual Results and 2022 Interim Results; and the date of despatch of the 2021 Interim Report, 2021 Annual Report and 2022 Interim Report as soon as possible after the publication of the 2020 Annual Results.