ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.Grandshores Technology Group Limited雄岸科技集团有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1647) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2024 The board (the “Board”) of directors (the “Directors”) of Grandshores Technology Group Limited (the “Company”) is pleased to present the audited consolidated financial results of the Company and its subsidiaries (collectively the “Group”) for the year ended 31 March 2024 (the “Review Year”) together with the comparative figures for the corresponding year ended 31 March 2023 (the “Last Year”).CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the financial year ended 31 March 2024 20242023 Note S$ S$ Revenue 4 84529421 57768008 Cost of sales and services (66866673) (48674212) Gross profit 17662748 9093796 Other income 1970521 558224 Other gains and losses (1029463) (3170837) Selling expenses (150990) (23701) Administrative expenses (15718081) (12760462) Impairment loss on financial assets 6 (145918) (70591) Finance costs 5 (95181) (47375) Share of loss of associates (88004) (37977) Profit/(loss) before taxation 6 2405632 (6458923) Income tax expense 7 (393112) (29565) Profit/(loss) for the year 2012520 (6488488) —1—20242023 Note S$ S$ Other comprehensive loss for the year Item that may be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations (608928) (380023) Item that will not be reclassified to profit or loss: Fair value loss on equity investments at FVOCI (39016) (226553) Other comprehensive loss for the year (647944) (606576) Total comprehensive income/(loss) for the year 1364576 (7095064) Profit/(loss) for the year attributable to: Owners of the Company 2209872 (6428856) Non-controlling interests (197352) (59632) 2012520(6488488) Total comprehensive income/(loss) attributable to: Owners of the Company 1551880 (6992325) Non-controlling interests (187304) (102739) 1364576(7095064) Basic and diluted earnings/(loss) per share (S cents) 9 0.18 (0.55) — 2 —CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 March 2024 20242023 Note S$ S$ ASSETS AND LIABILITIES Non-current assets Property plant and equipment 16120278 6772069 Interests in associates 2739354 2864880 Equity investments at FVOCI 291690 318346 Financial assets at fair value through profit or loss 21377 391963 1917269910347258 Current assets Inventories 2604192 787414 Trade receivables 10 16026834 12748632 Finance lease receivable 173377 328732 Other receivables deposits and prepayments 16215237 3301576 Amount due from a related party 238 — Financial assets at fair value through profit or loss 2900438 3707026 Fixed bank deposits 1000000 21996000 Bank balances and cash 15804006 15317016 5472432258186396 Current liabilities Trade and other payables 11 11406451 7494208 Amounts due to related companies — 50208 Amount due to an associate 2330650 2285424 Lease liabilities 306352 374216 Income tax payable 256839 145338 1430029210349394 Net current assets 40424030 47837002 —3—20242023 S$ S$ Total assets less current liabilities 59596729 58184260 Non-current liabilities Lease liabilities 125217 138083 Deferred tax liabilities 125372 65467 250589203550 Net assets 59346140 57980710 EQUITY Capital and reserves Share capital 2142708 2142708 Reserves 56963383 55411503 Equity attributable to owners of the Company 59106091 57554211 Non-controlling interests 240049 426499 Total equity 59346140 57980710 — 4 —NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the financial year ended 31 March 2024 1 GENERAL The Company was incorporated and registered as an exempted company in the Cayman Islands with limited liability on 18 May 2016 and its registered office is Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands. The Company was registered with the Registrar of Companies in Hong Kong as a non-Hong Kong company under Part 16 of the Companies Ordinance (Chapter 622 of the laws of Hong Kong) (the “Companies Ordinance”) on 13 June 2016 and the principal place of business in Hong Kong is located at Unit 1503 15/F. Greenfield Tower Concordia Plaza No. 1 Science Museum Road Kowloon. The principal place of business in Singapore is located at 18 Kaki Bukit Place Eunos Techpark Singapore 416196.The shares of the Company have been listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) with effect from 30 March 2017.The Company is an investment holding company and the principal activities of its operating subsidiaries are providing integrated building services with a focus on maintenance and installations of mechanical and electrical systems and including minor repairs and improvement works and undertaking building and construction works in Singapore. The Group is also engaged in information technology development and application business.Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in Singapore Dollars (“S$”) which is also the functional currency of the Company. 2 BASIS OF PREPARATION The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) which collective term includes all International Financial Reporting Standards International Accounting Standards (“IAS”) and related interpretations issued by the International Accounting Standards Board.In addition the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the applicable disclosures required by the Hong Kong Companies Ordinance. 3 APPLICATION OF NEW AND AMENDMENTS TO INTERNATIONAL FINANCIAL REPORTING STANDARDS (“IFRSs”) a) New and Amendments to IFRSs that are mandatorily effective for the current year During the year the Group adopted the following new and amended standards which are relevant to the Group’s operation and are mandatory for the year ended 31 March 2024.IFRS 17 Insurance Contracts and the related Amendments Amendments to IAS 1 and Disclosure of Accounting Policies IFRS Practice Statement 2 Amendments to IAS 8 Definition of Accounting Estimates Amendments to IAS 12 Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction Amendments to IAS 12 International Tax Reform — Pillar Two Model Rules The application of the new and amendments to IFRSs in the current year has had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in these consolidated financial statements.— 5 —b) New and amendments to IFRSs in issue but not yet effective The Group has not early applied the following new standards and amendments and interpretations that have been issued but are not yet effective: Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 4 Amendments to IAS 1 Classification of Liabilities as Current or Non-current and Non-current liabilities with convenants 1 Amendments to IAS 7 and IFRS 7 Supplier Finance Arrangements 1 Amendments to IAS 21 Lack of Exchangeability 2 Amendments to IFRS 18 Presentation and Disclosure in Financial Statements 3 Amendments to IFRS 16 Lease Liability in a Sales and Leaseback 1 1 Effective for accounting period beginning on or after 1 January 2024 2 Effective for accounting period beginning on or after 1 January 2025 3 Effective for accounting period beginning on or after 1 January 2027 4 Effective for accounting period beginning on or after a date to be determined The Group’s management assessed that the application of those new and amendments to IFRSs would not have a material impact on the consolidated financial statements. 4 REVENUE AND SEGMENT INFORMATION Revenue represents income from (i) providing integrated building services with a focus on maintenance and installations of mechanical and electrical systems (“M&E”) and including minor repairs and improvement works (“Integrated Building Services”) (ii) undertaking building and construction works (“Building ConstructionWorks”) and (iii) engaging in information technology development and application businesses including provision of service related to blockchain technologies and other internet applications as well as digital assets trading (“Information Technology Development and Application”).Information is reported to the Executive Director being the chief operating decision maker (“CODM”) of the Group for the purposes of resource allocation and performance assessment. The CODM reviews revenue by nature of services i.e. “Integrated Building Services” “Building Construction Works” and “InformationTechnology Development and Application” and profit or loss for the year as a whole. No analysis of the Group’s results assets and liabilities is regularly provided to CODM for review as the CODM does not regularly review such information for the purpose of resources allocation and performance assessment. Accordingly only entity- wide disclosures on services major customers and geographical information are presented in accordance with IFRS 8 “Operating Segments”.— 6 —An analysis of the Group’s revenue for the year is as follows: Year ended 31 March 20242023 S$ S$ Revenue from contracts with customers within the scope of IFRS 15 Integrated Building Services 56055847 48036403 Building Construction Works 20791054 10108019 Information Technology Development and Application 32991 — 7687989258144422 Income/(loss) from other sources Information Technology Development and Application 7649529 (376414) 8452942157768008 Information about major customers Revenue from customers contributing over 10% of the total revenue of the Group are as follows: Year ended 31 March 20242023 S$ S$ Customer A 13699674 12424081 Customer B N/A* 6205218 Customer C N/A* 5571421 Customer D 18879453 16331291 Note: The revenue from all the above customers are generated from provision of integrated building services and building construction works in Singapore.* The respective customers did not generate over 10% of the total revenue of the Group in the Review Year.— 7 —Geographical information The following table sets out information about the geographical location of the Group’s revenue from customers and the Group’s property plant and equipment and interest in associates (“specified non-current assets”).The geographical locations of customers are based on the location at which the services were provided. The geographical location of the specified non-current assets is based on the physical location of the asset in the case of property plant and equipment and the location of operations in the case of interests in associates.Year ended 31 March 20242023 S$ S$ Revenue from external customers Singapore 76846901 58144422 The People’s Republic of China (“PRC”) 32991 — Income/(loss) from other sources Hong Kong 7649529 (376414) 8452942157768008 As at 31 March 20242023 S$ S$ Non-current assets Singapore 16019904 6510331 PRC (including Hong Kong) 2839728 3126618 188596329636949 Disaggregation of revenue Revenue from contracts with customers within the scope of IFRS 15 is further analysed as follows: Information Technology Integrated Building Development and Building Services Construction Works Application Total 20242023202420232024202320242023 S$ S$ S$ S$ S$ S$ S$ S$ Disaggregated by timing of revenue recognition Over time 56055847 48036403 20791054 10108019 32991 — 76879892 58144422 — 8 —5 FINANCE COSTS Year ended 31 March 20242023 S$ S$ Interest on other borrowings 59492 27275 Interest on lease liabilities 35689 20100 9518147375 6 PROFIT/(LOSS) BEFORE TAXATION Profit/(loss) before taxation has been arrived at after charging/(crediting): Year ended 31 March 20242023 S$ S$ Depreciation of property plant and equipment 1077810 773067 Impairment loss on investment in an associate 70936 — Impairment loss on trade receivables — 238725 Impairment loss on other receivables — 6243 Impairment loss recognised/(reversed) on finance lease receivable 145918 (174377) 14591870591 Auditor’s remuneration: — Audit services 167527 201159 — Non-audit services — 1710 Directors’ remuneration 1469846 1596230 Other staff costs — Salaries and other benefits 12124846 9451481 — Retirement benefit scheme contributions (Note a) 478922 358417 Total staff costs 14073614 11406128 Cost of inventories recognised as cost of sales and services 8161075 2678476 Subcontractor costs recognised as cost of sales and services 52619297 41439138 Note: (a) The Group had no forfeited contributions (by employers on behalf of who leave the defined contribution schemes prior to vesting fully in such contributions) to offset existing level of contribution during the Review Year and Last Year.— 9 —7 INCOME TAX EXPENSE Year ended 31 March 20242023 S$ S$ Tax expense comprises: Current tax — Singapore corporate income tax (“CIT”) 255427 68987 — PRC corporate income tax 8261 55 Under provision in respect of prior years 69519 15757 Deferred tax 59905 (55234) 39311229565 8 DIVIDENDS The directors do not recommend the payment of any dividend in respect of the year end 31 March 2024 (2023: Nil). 9 EARNINGS/(LOSS) PER SHARE Year ended 31 March 20242023 Profit/(loss) attributable to the owners of the Company (S$) 2209872 (6428856) Weighted average number of ordinary shares in issue (number of shares) 1195040000 1178601644 The calculation of basic earnings/(loss) per share is based on the profit/(loss) for the year attributable to owners of the Company and the weighted average number of shares in issue.For the year ended 31 March 2024 the computation of diluted earnings per share does not assume the exercise of the Company’s outstanding share options since their exercise price is higher than the average market price of the Company’s share for the year and there was no outstanding share options as at 31 March 2024. Accordingly the basic and diluted earnings per share are the same.The computation of diluted loss per share does not assume the exercise of the outstanding share options since the assumed conversion would result in a decrease in loss per share for the year ended 31 March 2023.— 10 —10 TRADE RECEIVABLES As at 31 March 20242023 S$ S$ Billed trade receivables 9512212 8685761 Unbilled trade receivables (note) 6514622 4062871 1602683412748632 Note: Unbilled trade receivables represents (i) the accrued revenue from integrated building services for work performed but yet to be billed; and (ii) the remaining balances of construction revenue to be billed for completed building construction works which are entitled for billing.For the majority of customers invoices are issued upon completion of rendering services.The Group grants credit terms to customers typically between 15 to 60 days from the invoice date for billed trade receivables. The following is an aged analysis of the billed trade receivables presented based on the invoice date at the end of the reporting period: As at 31 March 20242023 S$ S$ Within 90 days 7889762 7770309 91 days to 180 days 981829 614721 181 days to 365 days 436970 183808 Over 1 year but not more than 2 years 122718 23454 More than 2 years 80933 93469 95122128685761 — 11 —11 TRADE AND OTHER PAYABLES As at 31 March 20242023 S$ S$ Trade payables 7131020 2538862 Trade accruals 2516780 3294210 96478005833072 Accrued operating expenses 1161673 1111633 Deposit 47173 — Other payables GST payable 390588 393268 Others 159217 156235 114064517494208 The following is an aged analysis of trade payables presented based on the invoice date at the end of the reporting period: As at 31 March 20242023 S$ S$ Within 90 days 6721845 2396024 91 to 180 days 298613 28763 181 days to 365 days 16760 13446 Over 1 year but not more than 2 years 8533 26042 Over 2 years 85269 74587 71310202538862 The credit period on purchases from suppliers and subcontractors is between 15 to 90 days or payable upon delivery.— 12 —MANAGEMENT DISCUSSION AND ANALYSIS Business Review and Outlook The Group’s revenue increased from approximately S$57.8 million for the Last Year to approximately S$84.5 million for the Review Year. The Group’s gross profit increased from approximately S$9.1 million for the Last Year to approximately S$17.7 million for the Review Year. The Group’s gross profit margin increased from approximately 15.7% for the Last Year to approximately 20.9% for the Review Year.According to Singapore Building and Construction Authority (“BCA”) the total construction demand (i.e.the value of construction contracts to be awarded) in 2024 is projected to be between S$32 billion and S$38 billion. The public sector is expected to contribute about 55 percent of the total construction demand between S$18 billion and S$21 billion. The private sector construction demand is anticipated to reach between S$14 billion and S$17 billion in 2024.BCA expects a steady improvement in construction demand over the medium term. It is projected to reach between S$31 billion and S$38 billion per year from 2025 to 2028. The public sector will continue to lead demand and is expected to contribute S$19 billion to S$23 billion per annum from 2025 to 2028 with building projects and civil engineering works constituting about 70% and 30% respectively. Private sector construction demand is projected to remain stable over the medium-term reaching approximately S$12 billion to S$15 billion per annum from 2025 to 2028.The Group believes that the outlook for the construction sector will remain challenging for 2024 in view of the continued uncertainties in the external environment and negative economic outlook in Singapore and major economies around the world impacted by COVID-19. All of these constraints make tenders highly competitive. Another challenge is the labor shortage in Singapore has driven up the Group’s labor and subcontracting charges. Despite these challenges the Group has achieved an increase in revenue and gross profit for the Review Year due to our continue effort to adapting the evolving market conditions. The Group is monitoring the situation closely and will maintain operational and financial prudence amidst a challenging economy. The Group will continue to manage its expenditure review the business strategy constantly and look for opportunities in a cautious and prudent manner.During the Review Year the bitcoin price exhibited an ascending trend and the Group strategically increased the volume of bitcoin trading. The Group’s revenue from trading of digital assets increased from S$Nil for Last Year to approximately S$6.7 million for the Review Year. Furthermore as a result of the increase in Bitcoin price from approximately US$28000 at the end of March 2023 to approximately US$70000 at the end of the Review Year the Group recognized a gain on fair value changes of digital assets inventories for the Review Year of approximately S$1.0 million as compared with a loss of approximately S$0.4 million for the Last Year.— 13 —Future Prospect The Group intends to continue the existing principal businesses. At the same time the Group intends to expand and diversify our business by investing into new business opportunities which can enhance shareholder value as well as complement and leverage existing business lines.The Group will continue to expand into more comprehensive scope of internet technologies related businesses including but not limited to e-commerce digital media marketing live commerce multi-channel network artificial intelligence industrial internet virtual reality technology and mobile internet video products production etc.; instead of simply focusing on blockchain technology application and development.Financial Review Revenue For the Review Year the Group recorded a revenue of approximately S$84.5 million (approximately S$57.8 million for the Last Year) an increase of approximately S$26.7 million or approximately 46.2%.The revenue from the Integrated Building Services increased from approximately S$48.0 million for the Last Year to approximately S$56.1 million for the Review Year an increase of approximately S$8.1 million or approximately 16.9%. The revenue from the Building Construction Works increased from approximately S$10.1 million for the Last Year to approximately S$20.8 million for the Review Year an increase of approximately S$10.7 million or approximately 105.9%. The increases in both the revenue from the Integrated Building Services and the Building Construction Works were mainly due to more tenders won and worked performed during the Review Year as a result of aggressive pricing strategy together with targeted tendering strategy implemented by the Group.The revenue from the Information Technology Development and Application business increased from a loss of approximately S$0.4 million for the Last Year to a gain of approximately S$7.7 million for the Review Year an increase of approximately S$8.1 million. The increase in revenue from the Information Technology Development and Application business was mainly due to the rise in Bitcoin price and increase in trading volume during the Review Year.— 14 —Costs of Sales and Services The Group’s cost of sales and services increased from approximately S$48.7 million for the Last Year to approximately S$66.9 million for the Review Year representing an increase of approximately S$18.2 million or approximately 37.4%. The increase was mainly driven by the increase in revenue from Integrated Building Services business and Building Construction Works business and Information Technology Development and Application business.Gross Profit and Gross Profit Margin The Group’s gross profit increased from approximately S$9.1 million for the Last Year to approximately S$17.7 million for the Review Year an increase of approximately S$8.6 million or approximately 94.5%.Such increase was mainly due to the increase in revenue discussed above.The Group’s gross profit margin also increased from approximately 15.7% for the Last Year to approximately 20.9% for the Review Year which was mainly resulted from the following factors: (i) The increase in revenue contribution from Information Technology Development and Application business. Gross profit margin for Information Technology Development and Application business is higher than the gross profit margin for Integrated Building Services and Building Construction Works resulted in the Group’s higher gross profit margin.(ii) The increase in magnitude in cost of sales and services from Integrated Building Services and Building Construction Works business is lower than the increase in revenue from the same business as a result of a better leverage of economy of scale during the Review Year.Other income Other income increased from approximately S$0.6 million for the Last Year to approximately S$2.0 million for the Review Year an increase of approximately S$1.4 million. The increase was mainly resulted from the increase in government grants and the increase in interest income during the Review Year.Other Gains and Losses The Group’s other gains and losses decreased from loss of approximately S$3.2 million for the Last Year to loss of approximately S$1.0 million for the Review Year. The decrease was mainly due to i) the change from foreign exchange loss of approximately S$720000 for the Last Year to gain of approximately S$707000 for the Review Year and ii) the decrease in net loss on financial assets at fair value through profit or loss from S$2.5 million for the Last Year to approximately S$1.7 million for the Review Year.Administrative Expenses The Group’s administrative expenses increased from approximately S$12.8 million for the Last Year to approximately S$15.7 million for the Review Year an increase of approximately S$2.9 million or approximately 22.7%. The increase was mainly due to the increase in the total number of employees which resulted in more salary and staff related expenses incurred during the Review Year.— 15 —Finance Costs The Group’s finance costs increased from approximately S$47000 for the Last Year to approximately S$95000 for the Review Year. The increase was mainly due to the increase in lease interest as the Group entered into additional leases and increase in interest expenses incurred on other borrowings during the Review Year.Income Tax Expense The Group’s income tax expense increased from approximately S$30000 for the Last Year to approximately S$393000 for the Review Year an increase of approximately S$363000 due to the increase in taxable profit.Profit/(Loss) Attributable to Owners of the Company The Group’s profit/(loss) attributable to owners of the Company has experienced a turnaround from loss of approximately S$6.4 million for the Last Year to gain of approximately S$2.2 million for the Review Year.This is mainly due to the increase in revenue and gross profit as discussed above.Contingent Liabilities As at the end of the Review Year the Group had no material contingent liabilities.Final Dividend The Directors do not recommend the payment of final dividend for the Review Year (31 March 2023: Nil).Liquidity and Financial Resources The Group maintained a healthy financial position during the Review Year. As at 31 March 2024 the Group had total bank balances and cash of approximately S$15.8 million (31 March 2023: approximately S$15.3 million). The current ratio of the Group as at 31 March 2024 was approximately 3.8 times (31 March 2023: approximately 5.6 times).The loans and borrowings and lease liabilities of the Group as at 31 March 2024 was approximately S$432000 (31 March 2023: approximately S$512000). The gearing ratio (calculated based on loans and borrowings and lease liabilities divided by total equity) of the Group as of 31 March 2024 was approximately 0.7% (31 March 2023: approximately 0.9%). — 16 —Exposure to Foreign Exchange Rate Risks The functional currency of the Group’s major operating subsidiaries is Singapore dollars. However certain subsidiaries of the Company have their assets and liabilities denominated in currencies other than Singapore dollars. The Group is subject to foreign exchange rate risk with respect to recognised assets and liabilities which are denominated in currencies other than Singapore dollars. During the Review Year the Group did not commit to any financial instruments to hedge its exposure to foreign currency risk. The Group recorded a foreign exchange gain of approximately S$707000 for the Review Year (loss of approximately S$720000 for the Last Year).Material Acquisitions and Disposals of Subsidiaries Associated Companies and Joint Ventures There were no material acquisitions and disposals of subsidiaries associated companies and joint ventures during the Review Year.Employees and Remuneration Policy As at the end of the Review Year the Group employed a total of 461 full-time employees (including executive Director) as compared to 333 full-time employees as at 31 March 2023. The Group’s employees are remunerated according to their job scope responsibilities and performance. Local employees are also entitled to discretionary bonus depending on their respective performances and the profitability of the Group. The Group’s foreign workers of the Singapore Integrated Building Services business and Building Construction Works business are typically employed on two-year basis depending on the period of their work permits and subject to renewal based on their performance and are remunerated according to their work skills. Other staff benefits include the provision of retirement benefits medical benefits and sponsorship of training courses.Significant Events After the Reporting Period The market price of Bitcoin has decreased from approximately US$70000 as at 31 March 2024 to approximately US$62000 as at the date of this announcement.Save as disclosed above no other significant events have taken place subsequent to the end of the Review Year.— 17 —Compliance with the Corporate Governance Code The Group is committed to maintaining good corporate governance to safeguard the interest of shareholders and to achieve effective accountability.The Company has adopted the corporate governance code (the “CG Code”) contained in Part 2 of Appendix C1 to the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”).Code provision C.2.1 of the CG Code stipulates that the roles of the Chairman and the Chief Executive Officer should be separate and should not be performed by the same individual.During the Review Year the role of the Chairman of the Board is performed by Mr. Yao Yongjie while the office of the Chief Executive Officer of the Company is vacated following the resignation of Mr. Li Wei on 23 July 2021. The Board will keep reviewing the current structure of the Board from time to time and should candidate with suitable knowledge skill and experience be identified the Company will make appointment to fill the post of the Chief Executive Officer as appropriate.To the best knowledge of the Board the Company has complied with the CG code for the Review Year save for the deviation from code provision C.2.1 as disclosed above.Purchase Sales or Redemption of the Company’s Securities During the Review Year neither the Company nor any of its subsidiaries had purchased sold or redeemed any of the Company’s securities.Review of Annual Results by the Audit Committee The consolidated financial results of the Group for the Review Year has been reviewed by the Audit Committee of the Company.Scope of Work of McMillan Woods (Hong Kong) CPA Limited The figures in respect of the Group’s consolidated statement of financial position consolidated statement of profit or loss and other comprehensive income and the related notes thereto for the year ended 31 March 2024 as set out in the preliminary announcement have been agreed by the Group’s auditors McMillan Woods (Hong Kong) CPA Limited (“McMillan Woods”) to the amounts set out in the Group’s audited consolidated financial statements for the Review Year. The work performed by McMillan Woods in this respect did not constitute an assurance engagement and consequently no opinion or assurance conclusion has been expressed by McMillan Woods on the preliminary announcement.— 18 —Publication of Annual Results Announcement and Annual Report The annual results announcement of the Company is published on the website of the Stock Exchange (www.hkexnews.hk) and on the website of the Company (www.grandshorestech.com). The annual report of the Company for the Review Year containing all the relevant information required by the Listing Rules will be dispatched to the shareholders of the Company and published on the websites of the Stock Exchange and the Company on or before 31 July 2024.By Order of the Board Grandshores Technology Group Limited Yao Yongjie Chairman and Executive Director Hong Kong 28 June 2024 As at the date of this announcement the Board comprises Mr. Yao Yongjie as an executive Director; Mr. Chua Seng Hai Ms. Lu Xuwen and Ms. Yu Zhuochen as non-executive Directors; and Mr. Chu Chung Yue Howard Mr. Li Kanlin and Mr. Fan Jianyin as independent non-executive Directors.—19—