The board of directors of Century Ginwa Retail Holdings Limited informed shareholders of the Company and potential investors that the Shaanxi Tangrenjie Store of the Group located at Xidajie, Xi'an, Shaanxi has been closed on 31 January 2018 due to unsatisfactory operational results. The unsatisfactory operation of the Store is mainly due to the unfavourable business environment around the area where the Store is located, in particular, the local retail market has been shrinking and the competition of the surrounding area has been intensifying in recent years. Further, the management of the Company does not expect that the situation will be improved in the near future.