Million Stars Holdings Limited announce that, due to twists and turns of the COVID-19 pandemic in mainland China and changes in digital asset policies, the Group's revenue from overseas internet advertising fell significantly and no revenue was recorded from the digital assets business in the second half of this year. Since the Group was still investing in the establishment of online and offline advertising channels in mainland China and in the project involving the construction of multi-functional advertising equipment, no revenue was generated yet. Due to the above circumstances, the auditors of the Company (the ``Auditors'') requested the Company to provide additional information to address certain significant audit issues, such as assets impairment assessment.

Accordingly, the Auditors need more time to complete the audit work. Based on the information currently available to the Company and the current progress of the audit process, it is anticipated that the publication of the Audited Annual Results for the year ended 30 June 2022 will be postponed to 30 November 2022 and that the expected dispatch date of the 2022 annual report of the Group (the ``Annual Report'') will be on or before 15 December 2022.