National Arts Group Holdings Limited announced that as disclosed in the Announcement, the Group 's field audit in the People 's Republic of China for the year ended 31 December 2021 has been temporarily disrupted by the implementation of the COVID-19 pandemic prevention and control quarantine measures in certain cities in the PRC. Due to the restriction on the entry of people from high-risk cities, the Company's auditors were restricted to enter Foshan city to conduct field audit work in respect of the Hotel and the Studio. Further to the temporary reduction in the manpower of the Company and changes in working environment resulting from the COVID-19 pandemic in Hong Kong, the preparation of requested information was slackened and thus affected the valuation work and the audit progress. The Company expects that additional time will be required to complete the relevant audit work. Upon the completion of audit procedures, the audited final results announcement for the year ended 31 December 2021 and the annual report for the year ended 31 December 2021 would be published on or before 31 May 2022. The Board updated shareholders and potential investors of the Company that, as at the date of this announcement, the COVID-19 pandemic prevention and control quarantine measures are still in place, the auditors of the Company are still unable to travel to Foshan city to conduct audit field work. As such, the Company will not able to publish the 2021 Audited Results Announcement and the 2021 Annual Report on or before 31 May 2022. The Company currently
expects that the COVID-19 pandemic will be eased at the end of the May 2022, and the audit field work will be commenced and completed in early June 2022. The Company currently expects that the 2021 Audited Results Announcement and the 2021 Annual Report will be published on or before 20 June 2022.