The board of directors of Hong Wei (Asia) Holdings Company Limited announced that it is expected that there will be a delay in publication of the announcement of the annual results of the Group for the year ended 31 December 2022 (the "Annual Results Announcement") due to (i) the Company has outsourced the accounting work of the Company for consolidation of the management accounts of each companies of the Group to an professional accounting firm but has yet to settle the outstanding service fee in the amount of HK$240,000 and additional time will be required by the Company to prepare the consolidated management account of the Group for the year ended 31 December 2022; (ii) the Company has yet to settle the first payment of the audit fee in the amount of HKD 400,000 and therefore the audit work for the financial year ended 31 December 2022 has not yet commenced. Due to the audit work has not yet commenced, there was no identified audit issue as at the date of this announcement. Due to the expected delay in the publication of the Annual Results Announcement, it is also expected that the despatch of the annual report of the Company for the year ended 31 December 2022 will be delayed to such time after the publication of the Annual Results Announcement.