Xinming China Holdings Limited announced that reference is made to the announcements of the company dated 31 March 2023, 27 April 2023,25 May 2023 and 23 June 2023 in relation to, among other things, publication of the audited annual results of the Group for the year ended 31 December 2022 and the date of the meeting of the board of directors of the Company for considering and approving the 2022 Audited Annual Results. Reference is made to the announcement of the Company dated 23 June 2023. The 2022 Audited Annual Results was scheduled to be published on 31 July 2023.

However, more time is required to gather necessary information for Crowe to perform audit work, including the audit of the opening balances and the consolidation adjustments put through by the previous auditors of the Group in accordance with the International Financial Reporting Standards as well as to gather and provide the necessary documents and information required by Crowe to complete the auditing process. The Group is also considering other alternatives to complete the audit in view of the challenge for the audit of opening balances and the consolidation adjustments made in prior years. Hence, audit processes are still being worked on as of the date of this announcement.

Based on the information currently available to the Company and the progress of the audit process, it is expected that the 2022 Audited Annual Results will be published on or before 31 August 2023. Pursuant to Rule 13.46(2)(a) of the Listing Rules, the Company is required to send 2022 Annual Report to its Shareholders not later than four months after the date upon which the financial period ended, that is, on or before 30 April 2023. Pursuant to Rule 13.46(2)(b) of the Listing Rules, an issuer should lay its annual financial statements before its members at its annual general meeting within the period of 6 months after the end of the financial year or accounting reference period to which the annual financial statements relate.

It is expected that the 2022 Annual Report will be published shortly after the 2022 Audited Annual Results and no later than 31 August 2023. The delay in publication of the 2022 Annual Report by the Company shall constitute a non-compliance with Rule 13.46(2)(a) and Rule 13.46(2)(b) of the Listing Rules.