MODERN LAND(01107): Possible delay in publishing full year performance for 2025.
Modern Land (01107) announced that as of the date of this announcement, the audit of the group's financial statements for the year ended December 31, 2025 has not been completed.
MODERN LAND (01107) announced that as of the date of this announcement, the audit of the Group's financial statements for the year ended December 31, 2025 has not been completed. The main reasons for the delay include, but are not limited to, the following key audit procedures still being incomplete or requiring additional time to complete: due to factors such as government regulations, the approval process for company seals is lengthy for some subsidiaries, and some bank confirmation letters and letters of confirmation from key counterparties are still being processed; audit fieldwork for some important subsidiaries is still ongoing or in the internal audit review stage; impairment assessments of accounts receivable, property-related assets, investment properties, and investments in joint ventures have not been completed; and estimates regarding litigation matters and assessments of the Group's continued operating capability are still in progress. The Group is actively communicating with the auditors to obtain the necessary documents and evaluation data as soon as possible, and strives to complete the outstanding audit procedures as early as possible. Due to the above reasons, it is expected that the company will not be able to publish its full-year results for the year ended December 31, 2025 by March 31, 2026. The delay in publishing the full-year results will constitute a violation of Rule 13.49(1) of the Listing Rules.
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