China Futex Holdings Limited announced that as stated in the announcements of the company dated December 31, 2020, March 10, 2021 and May 20, 2021 in relation to, among others, the provision of guarantees under the Greenfresh Arrangement; the provision of guarantee under the ICBC Guarantee and the provision of loan under the Loan Agreement (as defined in the 20 May 2021 Announcement) by Zhangzhou Kaixing Machine Co., Ltd, the aforementioned arrangements were not made aware to the board prior to or at the time of entering into of the relevant agreements. In light of the numerous unauthorised arrangements made by Zhangzhou Kaixing and the legal actions against Zhangzhou Kaixing as disclosed in the May 20, 2021 announcement, the board is of the view that these issues should be properly considered in the course of the preparation of the consolidated financial statements which requires additional time to resolve with the auditor of the company, Elite Partners CPA Limited. As at the date of this announcement, the consolidated financial statements for the year ended December 31, 2020 have not been agreed with the auditor. After due and careful consideration, the board considers that it would not be appropriate to publish the 2020 annual results and despatch the 2020 annual report on the date of this announcement, the company will publish further announcements in due course to inform the shareholders of the company the expected dates of publication/despatch of the 2020 annual results, the 2020 annual report, as and when appropriate.