APT Electronics Co., Ltd. — Earnings Release 2024

Feb 6, 2025

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.

APT Electronics Co., Ltd.

廣東晶科電子股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2551)

POSITIVE PROFIT ALERT

This announcement is made by APT Electronics Co., Ltd. (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders (the "Shareholders") and potential investors of the Company that, based on the preliminary review on the unaudited consolidated management accounts of the Group for the year ended December 31, 2024 (the "Reporting Period") and other information currently available, for the Reporting Period, the Group is expected to (1) record a net profit attributable to owners of the parent of not less than RMB93 million, representing a growth of not less than 40% as compared to the year ended December 31, 2023; and (2) record an adjusted net profit attributable to owners of the parent (non-IFRS measure)¹ of not less than RMB130 million, representing a growth of not less than 70% as compared to the year ended December 31, 2023.

The Board believes that such expected growth was mainly attributable to the following factors:

(a) the successful strategic transformation from a traditional LED manufacturer to an intelligent vision product and system provider integrating advanced "LED+" technologies, where all three major business segments, including intelligent automotive vision products, advanced displays products and high-end lighting products, achieved period-on-period growth in revenue, thereby realizing a year-on-year increase of profit for the Reporting Period;

¹ The Company defines adjusted net profit attributable to owners of the parent (non-IFRS measure) as profit for the period adjusted by adding back share-based payment expenses and listing expenses. Share-based payment expenses are non-cash in nature, while listing expenses are expenses relating to the global offering of the Company.

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(b) fully leveraging the comprehensive layout across the industry value chain and synergy advantages in intelligent automotive vision products by the Company, which has facilitated the rapid increase in sales of the Group's intelligent automotive vision products, including automotive-grade LED devices and modules, and significant growth in the profitability of the Group; and

(c) the launch of the Action Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Trade-ins («推動大規模設備更新和消費品以舊換新行動方案») by the State Council of the People's Republic of China (中華人民共和國國務院) in March 2024, which has boosted the continuous growth of market demand in the sector of advanced displays products since then and realized a material growth in the Group's sales of relevant products during the Reporting Period.

The Board wishes to highlight that "adjusted net profit attributable to owners of the parent" is not defined under International Financial Reporting Standards (IFRS). The Company believes that such non-IFRS measure facilitates comparisons of operating performance from period to period and company to company by eliminating potential impacts of certain items, and that such measure provides useful information to investors and others in understanding and evaluating the Group's consolidated results of operations in the same manner as they help its management. However, the adjusted net profit attributable to owners of the parent (non-IFRS measure) should not be considered in isolation from, or as a substitute for analysis of, the Group's results of operations or financial condition as reported under IFRS. The Shareholders and potential investors are encouraged to review the Group's financial information in its entirety and not rely on a single financial measure, and the adjusted net profit attributable to owners of the parent (non-IFRS measure) presented here may not be comparable to similarly titled measures presented by other companies.

As at the date of this announcement, the Company is still in the course of finalizing the annual results of the Company for the year ended December 31, 2024. The information contained in this announcement is only based on the Board's preliminary review of the unaudited consolidated management accounts of the Group for the year ended December 31, 2024, which have not yet been reviewed or audited by the Company's independent auditor, nor reviewed by the audit committee of the Board. Such financial information will be subject to finalization and necessary adjustments and may differ from the actual annual results of the Company for the year ended December 31, 2024. Further details of the Company's financial information will be published in the Company's announcement of annual results for the year ended December 31, 2024, which is expected to be published before the end of March 2025.

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WARNING: Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By order of the Board
APT Electronics Co., Ltd.
Xiao Guowei David
Chairperson of the Board

Hong Kong, February 6, 2025

As at the date of this announcement, the Board comprises Mr. Xiao Guowei David as executive Director, Mr. Chan Philip Ching Ho, Mr. Yuan Lie Ming Peter, Mr. Wu Nan-Yang and Mr. Zheng Xin as non-executive Directors, and Ms. Zhang He, Ms. Lin Nan, Ms. Ding Hui and Mr. Chan Chi Kong as independent non-executive Directors.