Under Rules 18.48A and 18.49 of the GEM Listing Rules, China Regenerative Medicine International Limited was required to publish the announcement in relation to the preliminary audited annual results of the Group for the year ended 31 December 2021 (the "2021 Audited Annual Results") on a date no later than three months after the end of the financial year of the Company, i.e. on or before 31 March 2022, and dispatch its annual report (the "2021 Annual Report") to the shareholders of the Company (the "Shareholders") on or before 31 March 2022. However, a number of factors has caused the delay of audit work of the 2021 Audited annual Results; (i) implementation of the tightened COVID-19 prevention and control quarantine measures in the Peoples's Republic of China (the "PRC") and Hong Kong in the past few weeks; (ii) delays in receiving audit confirmation from banks resulting from limited services within the PRC and Hong Kong; and (iii) employees of the Company's auditor (the "Auditor") were tested positive for COVID-19, which affected the ability to access and gather necessary documents and information required for audit on a timely basis. In view of the above, the board (the "Board") of directors (the "Directors") of the Company informed the Shareholders and potential investors of the Company that it is unlikely that the Company will be able to publish the 2021 Audited Annual Results and dispatch the 2021 Annual Report on or before 31 March 2022 in accordance with the GEM Listing Rules.

Notwithstanding this, the Board would like to emphasize that the operation of the Group remains normal and that it will continue to work with the auditor of the Company closely to publish the 2021 Annual Results and dispatch of the 2021 Annual Report to the Shareholders. The 2021 Annual Results and the 2021 Annual Report are expected to be published by the end of April 2022.