Peking University Resources (Holdings) Company Limited announced that it has resolved to change the financial year end date of the Company from 31 December to 31 March effective immediately. Accordingly, the next financial year end date of the Company will be 31 March 2022 and the next published audited financial statements of the Company will cover a 15-month period from 1 January 2021 to 31 March 2022. The Board considers that the change of financial year end date to 31 March will enable the Group to rationalise and mobilise its resources with higher efficiency for the preparation of results announcements and financial reports given the change will: avoid competition of resources with other listed companies with regard to results announcement and reports-related external services under the peak reporting season in the market; remove the uncertainty from the variation in the dates of the Chinese New Year Holiday which put pressure on the workflow; and better coincide with the seasonal operating cycle of the Group's property development business, which usually records higher sales of properties in the first quarter of each year.

Such busy season demands heightened commercial efforts, and the change of financial year end date will enable the Group to better utilize its resources on executing its business plans during such busy season. The Board does not foresee any material financial impact on the Group in respect of the change of financial year end date of the Company and there is no other matter that needs to be brought to the attention of the shareholders of the Company.