SMIT Holdings Limited will not be able to publish the annual results announcement of the Group for the year ended 31 December 2023 by 31 March 2024 as the auditor of the Company is, as at the date of this announcement, still in the process of obtaining and reviewing the necessary documentation and information from an associated company of the Company to complete the audit procedures. The Company is actively assisting the Auditor to obtain the said documentation and information. The expected date of the publication of the 2023 Annual Results will need to be agreed upon with the Auditor and the Company will further announce once the said date is finalised.

Pursuant to Rule 13.49(3)(i) of the Listing Rules, if the Company is unable to publish the 2023 Annual Results within the prescribed timeframe, it must announce its results prepared based on the financial results which have yet been agreed upon with the Auditor (so far as such information is available). The Board, after due and careful consideration, in particular issues surrounding the information of an associated company, is of the view that it would not be appropriate for the Company to publish the unaudited management accounts of the Group for the year ended 31 December 2023 at this stage as they may not accurately reflect the financial performance and/or position of the Group and the publication of the unaudited management accounts could cause confusion and may be misleading to the Shareholders and potential investors of the Company. Though the delay in publication of the 2023 Annual Results would constitute non-compliance of Rule 13.49(1) of the Listing Rules, the Board wishes to emphasise that the operations of the Group remain normal, and the Company will use its best endeavours to publish the 2023 Annual Results as soon as possible.