The board of directors of China Renaissance Holdings Limited announced that the Auditors have informed the Company that they are not able to complete their audit and sign off their auditor's report prior to (i) Mr. Bao Fan, the Chairman, an Executive Director, the Chief Executive Officer and the controlling shareholder of the Company becoming generally available for contact to facilitate the Auditors' representatives understanding of the events as announced by the Company on 16 and 26 February 2023; and (ii) completion of additional audit procedures that may arise from the foregoing. While the Company has used its best efforts to facilitate the requests of the Auditors, request (i) above are not matters within the control of the Group and therefore also matters referred to in (ii) that may arise in consequence. Accordingly, those matters remain unresolved as at the date of this announcement.

For the same reason, the Board is not able to reasonably estimate when it would meet to approve the 2022 Annual Results that have been agreed by the Auditors and the Company also expects that it will be unable to dispatch the Company's annual report for the year ended December 31, 2022 on or before April 30, 2023.