Asian Capital Resources (Holdings) Limited announced delay in publication of annual results for the year ended December 31, 2021. Under Rules 18.03, 18.48A and 18.49 of the GEM Listing Rules, the company was required to publish the announcement in relation to the preliminary audited annual results (the ‘2021 Audited Annual Results') of the Group for the year ended 31 December 2021 on a date no later than three months after the end of the financial year of the Company, i.e. on or before 31 March 2022 and despatch its annual report (the ‘2021 Annual Report') for the year ended 31 December 2021 to the shareholders of the Company (the ‘Shareholders') on or before 31 March 2022. Due to the recent COVID-19 outbreak and the implementation of the tightened COVID-19 prevention and control quarantine measures in the Mainland China in the past few weeks, the reporting and audit processes of the Group were adversely affected.

As at the date of this announcement, the Company is still in the process of providing certain information to the auditors (the ‘Auditors') of the Company to complete the audit procedures. In view of the above, the board of directors (the ‘Board') of the Company informed the Shareholders and potential investors of the Company that it is unlikely that the Company will be able to publish the 2021 Audited Annual Results and despatch the 2021 Annual Report on or before 31 March 2022 in accordance with the GEM Listing Rules. Moreover, after due and careful consideration, the Board considers that the unaudited accounts of the Group for the year ended 31 December 2021 (the ‘Management Accounts') may be subject to further adjustments, if any, arising from the audit process.

Hence it is inappropriate to publish the Management Accounts at this stage. Notwithstanding this, the Board emphasized that the operation of the Group remains normal and that it will continue to work with the Auditor closely to publish the 2021 Audited Annual Results and despatch of 2021 Annual Report to the Shareholders.