C-Link Squared Limited — Regulatory Filings 2021

Mar 5, 2021

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.

C-LINK SQUARED LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1463)

PROFIT WARNING

This announcement is made by C-Link Squared Limited (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 “ Stock Exchange ”) and the Inside Information Provisions 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 of the unaudited consolidated management accounts of the Group (the “ Management Accounts ”) for the year ended 31 December 2020 (“ FY2020 ”), the Group is expected to record a consolidated net loss of approximately RM3.7 million as compared to the consolidated net profit of approximately RM13.1 million for the year ended 31 December 2019 (“ FY2019 ”). Such expected net loss was mainly attributable to: (i) the decrease in gross profit recognised for FY2020 as compared to that for FY2019 as a result of the slowdown in economy and implementation delay of certain projects of the Group caused by the unprecedented outbreak of the novel coronavirus pandemic (“ COVID-19 Outbreak ”) and the country-wide lockdown measures imposed by the Malaysian government during the year; (ii) additional administrative costs incurred by the Group for meeting its post-listing obligations and long-term business development; (iii) the increase in provision of allowance for expected credit losses on trade receivables as a result of the slowdown in economy caused by the COVID-19 Outbreak in Malaysia; and (iv) the increase in listing expenses incurred in relation to the listing of the shares of the Company on the Main Board of the Stock Exchange on 27 March 2020.

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The Group is still in the course of finalising its consolidated financial results for FY2020. The information contained in this announcement is only based on the Board’s preliminary assessment of the information currently available, including but not limited to the Management Accounts for FY2020, which have not been audited by the Company’s external auditors nor reviewed by the audit committee of the Company, and may be subject to further adjustments. The Shareholders and potential investors of the Company should refer to the Group’s annual results announcement for FY2020, which is expected to be published by the end of March 2021.

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

By Order of the Board C-Link Squared Limited Ling Sheng Hwang Chairman and executive Director

Hong Kong, 5 March 2021

As at the date of this announcement, the executive Directors are Mr. Ling Sheng Hwang and Mr. Ling Sheng Chung, the non-executive Director is Mr. Ling Sheng Shyan, and the independent non-executive Directors are Ms. Eugenia Yang, Mr. Lee Yan Kit and Mr. Wong Son Heng.

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