Zhitong Finance App News, Weiyali (00854) issued an announcement. According to section 705 (1) of the listing rules, issuers must publish financial statements for the full year of the fiscal year immediately after providing them (as set out in Appendix 7.2), but in any case no later than 60 days after the relevant financial period. Therefore, the company is required to publish its financial statements for fiscal year 23/24 by May 30, 2024.

Since the company's management believes that the company will not be able to publish a performance announcement before the deadline specified in section 705 (1) of the listing rules, an application for an extension was submitted. This is due to the need for more time to implement the results announcement on a number of matters, including (among others) the assessment and estimation of anticipated credit losses for certain trade and other receivables, provision for inventory impairment testing and the Group's financial forecasts, as well as the resources and work involved in the proposed voluntary comprehensive offer.

The company anticipates that it will take more time to evaluate and resolve the above matters and prepare a performance announcement. As a result, the company has applied for an extension to seek approval from the SGX to announce its results by June 30, 2024 at the latest.