JIA SIAO GROUP HOLDINGS LIMITED ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023. REVENUE INCREASED BY 3.0% TO APPROXIMATELY RMB26,158.8 MILLION COMPARED TO 2022, AND GROSS PROFIT DECREASED 49.9% TO APPROXIMATELY RMB1,698.5 MILLION. The annual loss increased 51.4% compared to 2022 to approximately RMB 19,701.6 million. Contract sales fell 4.9% to about RMB17,836 million and no final dividend was declared. The company faces a net current debt of approximately RMB25,442.9 million and significant borrowings that have not been repaid by the scheduled repayment date, posing significant doubts about its ability to continue operating. The Board will continue to mitigate adverse impacts and take steps to manage risk, and enhance core strengths to achieve sustainability.

JIA SIAO GROUP HOLDINGS LIMITED ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023. REVENUE INCREASED BY 3.0% TO APPROXIMATELY RMB26,158.8 MILLION COMPARED TO 2022, AND GROSS PROFIT DECREASED 49.9% TO APPROXIMATELY RMB1,698.5 MILLION. The annual loss increased 51.4% compared to 2022 to approximately RMB 19,701.6 million. Contract sales fell 4.9% to about RMB17,836 million and no final dividend was declared. The company faces a net current debt of approximately RMB25,442.9 million and significant borrowings that have not been repaid by the scheduled repayment date, posing significant doubts about its ability to continue operating. The Board will continue to mitigate adverse impacts and take steps to manage risk, and enhance core strengths to achieve sustainability.