The board of directors of Orient Securities International Holdings Limited announced that it has resolved to change the financial year end date of the Company from 31 December to 31 March (the "Change of Fiscal Year End Date") and determine that the next financial year end date of the Company immediately following its last financial year ended 31 December 2021 be 31 March 2023. Based on the discussions of the loan receivables recovery committee under the Board and the advice obtained from the new auditor of the Company (the "Auditor"), the completion of the audit process (the "Audit Process") for the annual audit of the Group's financial results for the financial year ended 31 December 2022 (the "2022 Annual Results") will be subject to (i) a legal review of the existing loan arrangements, which involves certain cross-border guarantee or security provided by borrowers to guarantee or secure his/her/its debt owed to the Group, by independent legal adviser; and (ii) an assessment on the practicability of the enforcement procedures to take and cost in case of a debt recovery. The Board considers that the Change of Fiscal Year End Date will enable the Group to remove the uncertainty from completion of the Audit Process which may cause a significant delay in the publication of the 2022 Annual Results.

Also, as at the date of this announcement, all operating subsidiaries of the Company are incorporated in Hong Kong, the Board considers that the Change of Fiscal Year End Date enables the Group to align the financial year end date of the Company with that of the Hong Kong government which is generally adopted for tax reporting in Hong Kong with the benefit of facilitating timely and efficient financial reporting. The Board does not foresee any material financial implications on the Group as a result of the Change of Fiscal Year End Date nor is there any other matter of significance that needs to be brought to the attention of the holders of securities of the Company in this regard.