ALLEGRO CULTURE (00550): Expectation timeline to meet the conditions for resumption of trading continues to be suspended.

ALLEGRO CULTURE (00550) announced that the company is currently taking action to resolve audit matters and is closely cooperating with auditors to review the comprehensive financial statements of the company for the year ended December 31, 2023. The company will do its best to release the financial performance and reports that have not been disclosed yet, and work closely with professionals to strive for the expected timeline for resumption of trading. Although trading of shares has been suspended, the company's main business (advertising business) has not been affected and is operating normally. The publishing and digital advertising platforms operated by the company (known as Recruit and Like magazine) are still operating normally and publishing as usual. The e-commerce division, as a small business segment of the company, is still operating on a very small scale. Nevertheless, the group will explore business opportunities in the e-commerce division to diversify its sources of income and improve the group's profitability in the long term. On the other hand, with the decline of demand for medical and health products due to the subsiding of the 2019 coronavirus disease, the company has gradually ceased operations of its medical and health product sales division. As this division has contributed very little to the company's finances, the company believes that terminating this division will not have a significant impact on the overall financial performance of the company. In addition, trading will continue to be suspended.