The board of directors of the ZMFY Automobile Glass Services Limited announced that shareholders of the Company (the ‘Shareholders') and potential investors that the publication of the 2022 Annual Results and the despatch of the 2022 Annual Report will be delayed as the Company was unable to finalize the consolidated financial statements for the year ended 31 December 2022 including the financial impact of the Alleged Guarantees as defined and referred to in the Company' s announcement dated 11 March 2022. As the Company does not possess any information in relation to the Alleged Guarantees, other than some civil mediation agreements issued by the People's Court of Chaoyang District, Beijing mentioning about the Alleged Guarantees, the Company cannot provide to the Auditors with any actual details about the Alleged Guarantees. The Company is in the course of investigating the Alleged Guarantees and will provide more information to the Auditors once available.

Thus, as at the date of this announcement, the Auditors are not able to perform or design additional audit procedures until the completion of the investigation on the Alleged Guarantees. The Board acknowledges that the delay in the publication of the 2022 Annual Results and the 2022 Annual Report will constitute non-compliance with Rules 18.49 and 18.48A of the GEM Listing Rules. For the reasons set out above, the Board is of the view that it would not be appropriate for the Company to publish its unaudited management accounts for the year ended 31 December 2022 at this stage as they may not accurately reflect the consolidated financial performance and positions of the Company and may confuse the Shareholders and potential investors.