On 24 March 2026, Apollo Future Mobility Group Limited (Apollo FMG) released supplemental information to its 2024 Annual Report, focusing on the qualified opinion issued by its then auditors.

The audit qualification arose from a British Virgin Islands agreement under which “Entity A” was engaged to design, develop and manufacture a key hypercar component. Payments were recorded as a deposit for research and development as at 31 December 2024. Auditors could not obtain sufficient evidence on specific deliverables, technical roadmap, milestones or intellectual-property ownership, resulting in a scope limitation.

Management and the Audit Committee stress that the qualification stemmed solely from timing constraints, not from disagreements over accounting judgments or unadjusted misstatements. Both bodies consider the arrangement commercially fair and industry-aligned, and believe there is no impact on the Group’s financial position.

To resolve the issue, Apollo FMG has: 1. Signed a supplemental agreement with Entity A detailing milestones, deliverables, IP ownership, an escrow arrangement and a break clause to protect deposit recoverability. 2. Formed an Internal Technical Committee to oversee the project and liaise with auditors. 3. Scheduled regular tripartite reviews (Company, Entity A, auditors) to track progress and evidence collection. 4. Introduced internal-control enhancements, including an approval matrix for material R&D projects, mandatory pre-vetting by the Technical Committee and improved documentation. 5. Engaged an external consultant to recommend further risk-management upgrades.

The Board asserts compliance with Hong Kong Listing Rules code provision D.2.4 regarding risk-management and internal-control effectiveness. Save for the disclosed supplemental details, all other information in the 2024 Annual Report remains unchanged.