Shanxi Changcheng Microlight Equipment Co. Ltd. announced that pursuant to Rules 18.03, 18.48A and 18.50C of the GEM Listing Rules, the Company must publish its financial statements and annual report, in respect of each financial year of the listed issuer, not later than 3 months after the date upon which the financial year ended (that is 31 March 2022). The Company has made an application to The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for a waiver from strict compliance with Rules 18.03, 18.48A and 18.50C of the GEM Listing Rules, and a delay in publication of the 2021 Audited Annual Results Announcement and despatch of 2021 Annual Report on or before 27 May 2022.

Further on 24 May 2022, the Stock Exchange granted the waiver. As the Company was unable to publish the 2021 Audited Annual Results Announcement and despatch the 2021 Annual Report on 27 May 2022, it has applied to the Stock Exchange for a waiver for further delay to 10 June 2022. the Company has experienced two periods of lockdown and control in March and April lasting for one and a half months due to the COVID-19 outbreak, during which all production and operation activities of the Company were suspended.

As a result, the evaluation company conducted its due diligence evaluation on site in early May, which took ten working days. Therefore, the Company did not provide the evaluation report to the auditor of the Company until 17 May, and it will take another three weeks for the auditor of the Company to review the report. Most of the confirmation letters could not be delivered in a timely manner for the same reason.

Meanwhile, due to the successive outbreaks of the epidemic in other parts of the country, the confirmation letters delivered after the resumption of work in early May could not be received by the auditor of the Company. The audit progress were unable to promoted by the auditor of the Company for the above two reasons, so that the Company was unable to publish its 2021 Audited Annual Results Announcement and despatch 2021 Annual Report on 27 May 2022. The auditor of the Company will complete its outstanding audit works as soon as possible during this period.