Crown International Corporation Limited dated 19 June 2023 and 30 June 2023 in relation to the notification of the meeting of the Board (the "Board Meeting") to be held on 30 June 2023 for the purpose of considering and approving the 2023 Annual Results, the recommendation of a final dividend, if any, and transacting any other business and delay in the publication of the 2023 annual results and postponement of the Board Meeting and suspension of trading, respectively. Based on the information currently available to the Company, the Board hereby announces that there will be a further delay in the publication of the 2023 Annual Results and estimates the 2023 Annual Results will be published by the end of August 2023, which is subject to the completion of the audit procedures by the auditor. The board of directors of the Company wishes to inform the shareholders of the Company and potential investors of the Company that the delay in publication of the 2023 annual results was mainly due to certain outstanding items which required additional time for the audit process.

Based on the latest available information, the major outstanding items included (i) the valuation of China Properties; (ii) the China Properties' legal opinion and its legal position; (iii) impairment assessment related to receivables and prepayments; and (iv) matters related to the going concern assessment. Last year, the auditor's report contain an unmodified audit opinion with a "Material Uncertainty Related to Going Concern" section for the year ended 31 March 2022. As of the date of this announcement, the auditors have not yet indicated the form of their audit opinion or whether there will be any audit qualification on the company's annual results for the year ended 31 March 2023, as this is subject to the completion of their audit procedures.

The Company will make further announcement(s) to keep the Shareholders and potential investors informed when appropriate.