Comtec Solar Systems Group Limited — Earnings Release 2016

May 17, 2016

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 31 MARCH 2016

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 RMB269,572,000 for the Period.

• The unaudited consolidated gross profit was approximately RMB10,599,000 for the Period and the gross profit margin was approximately 3.9% for the Period.

• The unaudited net loss was approximately RMB8,056,000 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 announces the unaudited financial data of the Group for the three months ended 31 March 2016 (the ‘‘Period’’).

– 1 –

The following items are extracted from the unaudited management accounts of the Group for the Period, together with the comparative figures for the corresponding period in 2015:

the Period, together TurnoverGross profitGross profit marginLoss attributable to	with the comparative figures	with the comparative figures	or the corresponding period in 20	or the corresponding period in 20	or the corresponding period in 20
			(Una	udited)(Un	audited)he threehs endedrch 2015RMB’000273,0468,8083.2%(11,614)
	the owners of t	he Company	For thmonth31 MarcR	e threes endedh 2016For tmont31 MaMB’000269,57210,5993.9%(8,056)

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 RMB269,572,000 and RMB10,599,000, respectively, as well as a gross profit margin of approximately 3.9% for the Period. The loss attributable to the owners of the Company was approximately RMB8,056,000 for the Period.

As compared with the corresponding period in 2015, the Company recorded an increase of approximately 20.3% and 21.9% in the gross profit and gross profit margin of the Company for the Period, respectively. The Company also recorded a decrease of approximately 30.6% in the loss attributable to the owners of the Company for the Period. The Board considered that such improvement in the unaudited financial data of the Group for the Period was mainly attributable to the effective control by the Company of its costs of production and operating expenses.

Meanwhile, the Group has maintained a healthy financial position during the Period. As at 31 March 2016, the Group was in a net debt position of approximately RMB225,831,000 which included cash and cash equivalent, note receivables endorsed by banks of approximately RMB254,871,000 and short-term bank loans of approximately RMB480,702,000. As at 31 March 2016, the net debt to equity ratio of the Group was approximately 20.0%.

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 or reviewed 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 Yi ZHANG Chairman

Shanghai, the People’s Republic of China, 17 May 2016

– 2 –

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

– 3 –