GT : (1) DELAY IN PUBLICATION OF 2020 ANNUAL RESULTS; (2) POSSIBLE DELAY IN DESPATCH OF 2020 ANNUAL REPORT; AND (3) POSTPONEMENT OF BOARD MEETING

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(Incorporated in Hong Kong with limited liability)

(Stock Code: 263)

1. 1. DELAY IN PUBLICATION OF 2020 ANNUAL RESULTS;
2. POSSIBLE DELAY IN DESPATCH OF 2020 ANNUAL REPORT; AND
3. 1. POSTPONEMENT OF BOARD MEETING

Reference is made to the announcement (the ''Announcement'') of GT Group Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') dated 17 March 2021 in relation to the convening of a meeting of the Board (the ''Board Meeting'') on 30 March 2021 for the purposes of, among others, considering and approving the annual results of the Group for the year ended 31 December 2020 (the ''2020 Annual Results'') and its publication, and considering the payment of a final dividend, if any.

DELAY IN PUBLICATION OF THE 2020 ANNUAL RESULTS

After communication with the Company's auditor (the ''Auditor''), the Company is notified that, as at the date of this announcement, the Auditor has not yet completed all of its audit procedures for the audit of the Group's consolidated financial statements for the year ended 31 December 2020, mainly with respect to its interest in associates. In view of this, the Company does not expect to be able to publish its preliminary announcement of the 2020 Annual Results by 31 March 2021 as required under Rule 13.49(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'').

Rule 13.49(3) of the Listing Rules provides that where an issuer is unable to issue its preliminary results, it must announce its results based on the financial results which have yet to be agreed with the auditor (so far as the information is available). The Board is of the view that it would be inappropriate for the Company to publish the unaudited management accounts of the Group for the year ended 31 December 2020 at this stage as it may not reflect the financial performance and position of the Group accurately.

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POSTPONEMENT OF BOARD MEETING

In view of the delay in the completion of the audit of the 2020 Annual Results for reasons stated above, the Board Meeting will be postponed at a future date to be announced by the Company. In the meantime, the Company will continue to work with the auditors to complete the audit work as soon as practicable.

Pursuant to Rule 13.50 of the Listing Rules, The Stock Exchange of Hong Kong Limited will normally require suspension of trading in an issuer's securities if an issuer fails to publish periodic financial information in accordance with the Listing Rules, and the suspension will normally remain in force until the issuer publishes an announcement containing the requisite financial information.

Shareholders and potential investors should exercise caution when dealing in the shares of the Company.

By Order of the Board

GT GROUP HOLDINGS LIMITED

Li Dong

Chairman

Hong Kong, 30 March 2021

As at the date of this announcement, the Board comprises four Executive Directors, namely Mr. Li Dong (Chairman), Ms. Ng Shin Kwan, Christine, Mr. Chan Ah Fei and Mr. Liang Shan and three Independent Non-executive Directors, namely Dr. Wong Yun Kuen, Mr. Wong Shun Loy and Mr. Hu Chao.

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