JY Grandmark Holdings Limited (the Group) released a voluntary announcement outlining progress on issues underlying the disclaimer of opinion stated in its Annual Report 2024, where auditors expressed concerns over multiple uncertainties regarding the Group’s ability to continue as a going concern. The update covers measures taken during November 2025 to address liquidity pressures and improve the Group’s financial position.

As of 30 November 2025, the Group had total bank and other borrowings of approximately RMB3,075 million, of which about RMB1,574 million were in default and could be subject to immediate repayment if lenders requested. Another RMB131 million was categorized as cross-default. The announcement indicates that lenders (other than the Zhaoqing Lender) have not exercised their rights to demand immediate repayment. The Group continues to negotiate renewals and extensions of the defaulted borrowings while working closely with advisors and creditors to develop a debt restructuring plan.

The Group has also been adjusting pre-sales and sales activities, aiming to meet its latest pre-sales targets and speed up the collection of outstanding sales proceeds. During the eleven months ended 30 November 2025, aggregated contracted sales, including those of joint ventures and associates, stood at approximately RMB257 million. Additionally, the Group continues exploring alternative financing options to meet current obligations and future operating costs.

According to the announcement, the disclosed financial and operating data are derived from the Group’s management accounts, which have not been audited or reviewed by auditors. The Board cautions that these figures should not be taken as indicative of final financial results. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.