Differ Group Auto Limited (company) announced that reference is made to the announcement of the Company dated 28 March 2024, 17 April 2024 and 10 May 2024 (Announcements) in relation to, among others, the delay in publication of the 2023 Annual Results and delay in despatch of the 2023 Annual Report. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements. The Board would like to provide further information to its shareholders and potential investors regarding the delay in publication of the 2023 Annual Results.

As stated in the Announcements, the Auditors have requested additional time to complete their audit procedures and gather all necessary supporting documents. As of the date of this announcement, the Auditors have completed all required audit procedures. However, the Company requires additional time to finalise the 2023 Annual Results and the 2023 Annual Report.

According to the existing timetable, the publication and dispatch of the 2023 Annual Results Announcement and the 2023 Annual Report is expected to be further delayed to on or before 28 June 2024 respectively. Pursuant to Rule 13.49(1) of the Listing Rules, the Company is required to publish the 2023 Annual Results Announcement not later than three (3) months after the end of the financial year of the Company (i.e. on or before 31 March 2024). The delay in the publication of the 2023 Annual Results Announcement constitutes non-compliance with Rule 13.49(1) of the Listing Rules.

Pursuant to Rule 13.49(3) of the Listing Rules, if the Company is unable to publish the 2023 Annual Results Announcement within the prescribed timeframe, it must announce its results for the financial year based on financial results which have yet to be agreed with the Auditors (so far as the information is available), those results must have been reviewed by the issuer's audit committee, not later than three (3) months after the end of the financial year of the Company (i.e. on or before 31 March 2024). The Board, after due and careful consideration, is of the view that it would not be appropriate for the Company to publish the unaudited consolidated management accounts of the Group for the year ended 31 December 2023 at this stage as such management accounts 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. Pursuant to Rule 13.46(2) of the Listing Rules, the Company is required to despatch the 2023 Annual Report to the Shareholders not more than four (4) months after the end of the financial year of the Company (i.e. on or before 30 April 2024).

Due to further delay in the publication of the 2023 Annual Results Announcement, it is expected that there will be a delay in the despatch of the 2023 Annual Report. Based on the latest development and recent discussion with the Auditors, the Company expects that the 2023 Annual Results Announcement and 2023 Annual Report will be published and despatched on or before 28 June 2024 respectively.