The board of directors of Dashan Education Holdings Limited announced the shareholders and the potential investors of the Company that, based on the information currently available to the Board, there will be a delay in publication of the 2022 Audited Annual Results, as the Company is unable to finalise its 2022 Audited Annual Results on or before 31 March 2023 and the Company is still in the process of addressing certain concerns raised by the auditors of the Company (the "Auditors") to the Board and audit committee of the Company (the "Audit Committee"). Such concerns, are mainly in connection with, inter alia, (i) the commercial substance and business rationale of the payments in connection with the software development services provided by a vendor; (ii) the provision of evidence to substantiate the validity of the provision of training and advisory services by the Group to various customers; (iii) the commercial substance and business rationale for a loan granted by the Group to an entity, and (iv) the acquisition of equity interest in KSI Education Limited. The Auditors considered it necessary for the Audit Committee to undertake an independent investigation into the matters and a competent independent third party should be engaged to conduct independent forensic investigation procedures and to report its findings to the Audit Committee.