Comtec Solar Systems Group Limited — Earnings Release 2014

Nov 21, 2014

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.

卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 712)

ANNOUNCEMENT UNAUDITED FINANCIAL DATA FOR THE THREE MONTHS ENDED 30 SEPTEMBER 2014

HIGHLIGHTS

This announcement is made in accordance with the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rule 13.09 of the Listing Rules.

• The unaudited consolidated turnover was approximately RMB158,891,000 for the Period.

• The unaudited consolidated gross profit was approximately RMB11,781,000 for the Period and the gross profit margin was approximately 7.4% for the Period.

• The unaudited net loss was approximately RMB5,291,000 for the Period.

Shareholders of the Company and potential investors should exercise caution when dealing in the shares of the Company.

This announcement is made in accordance with the Inside Information Provisions (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’)) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rule 13.09 of the Listing Rules. To provide the market with updated information, the board (‘‘Board’’) of directors (‘‘Directors’’) of Comtec Solar Systems Group Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) hereby announced the unaudited financial data of the Group for the three months ended 30 September 2014 (the ‘‘Period’’).

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The following items are extracted from the unaudited management accounts of the Group for the Period and the corresponding period in 2013:

	(Unaudited)	(Unaudited)
	For the three	For the three
	months ended	months ended
	30 September	30 September
	2014	2013
	RMB’000	RMB’000
Turnover	158,891	242,919
Gross profit	11,781	17,260
Loss attributable to the owners of the Company	(5,291)	(7,635)

The Board wishes to inform the shareholders of the Company and potential investors that based on preliminary review on the unaudited management accounts of the Group for the Period, the Company has recorded unaudited consolidated turnover and gross profit of approximately RMB158,891,000 and RMB11,781,000, respectively, as well as a gross profit margin of approximately 7.4% for the Period, compared to approximately 7.1% for the corresponding period in 2013. During the Period, the Group actively applied diamond wire saws to its slicing process, which further improve the manufacturing efficiency. The Group plans to utilize diamond wire saws in its production in Malaysia to further strengthen the production costs advantages.

Meanwhile, the Group has maintained a healthy financial position during the Period. As at 30 September 2014, the Group was in a net debt position of approximately RMB214,496,000 which included cash and cash equivalent, note receivables endorsed by banks, bonds of approximately RMB317,413,000, short-term bank loans of approximately RMB522,729,000 and long-term bank loans of approximately RMB9,180,000. Please note that the information contained in this announcement is only based on the preliminary assessment by the Board on the unaudited management accounts of the Group for the Period and currently available information, which have not been audited by the Company’s auditors.

Shareholders of the Company and potential investors should exercise caution when dealing in the shares of the Company.

By Order of the Board Comtec Solar Systems Group Limited John ZHANG Chairman

Shanghai, the People’s Republic of China, 21 November 2014

As at the date of this announcement, the executive Directors are Mr. John Zhang, Mr. Chau Kwok Keung and Mr. Shi Cheng Qi, the non-executive Directors is Mr. Donald Huang, and the independent non-executive Directors are Mr. Leung Ming Shu, Mr. Kang Sun and Mr. Daniel DeWitt Martin.

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