Cornerstone Technologies Holdings Limited — Earnings Release 2021

May 10, 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.

==> picture [245 x 37] intentionally omitted <==

CORNERSTONE TECHNOLOGIES HOLDINGS LIMITED 基石科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8391)

PROFIT WARNING

This announcement is made by Cornerstone Technologies Holdings Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the “ GEM Listing Rules ”) and the Inside Information Provisions (as defined under the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

After preliminary review by the Company’s management on the unaudited management accounts of the Group and assessment of the information currently available, the board (the “ Board ”) of directors of the Company (the “ Directors ”) wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors that the Group is expected to record a loss not exceeding HK$13.0 million for the three months ended 31 March 2021, as compared to a net loss of approximately HK$8.6 million for the three months ended 31 March 2020. The loss-making position for the three months ended 31 March 2021 was mainly attributable to:

1. the additional costs incurred in the newly acquired electric vehicle charging solution and system services business since August 2020. The segment results of electric vehicle charging business for the three months ended 31 March 2021 is expected to be a loss of approximately HK$7.0 million;

2. the recognition of equity settled share-based payment expense amounting to approximately HK$2.5 million during the three months ended 31 March 2021; and

3. the increase in revenue of approximately HK$3.5 million for the three months ended 31 March 2021.

— 1 —

As the Company is still in the process of finalizing the consolidated results of the Group for the three months ended 31 March 2021, the information contained in this announcement is only based on a preliminary assessment by the Board with reference to the unaudited management accounts of the Group and information currently available, which have not been audited by the auditors of the Company or reviewed by the audit committee of the Company and may be subject to changes and adjustments. The actual three months results of the Group may be different from what is disclosed in this announcement. Shareholders and potential investors are advised to read carefully the results announcement of the Group for the three months ended 31 March 2021 when it is published.

WARNING:

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

On behalf of the Board

Cornerstone Technologies Holdings Limited LIANG Zihao

Co-Chairman and Executive Director

Hong Kong, 10 May 2021

As at the date of this announcement, the executive Directors are Mr. LIANG Zihao, Mr. SAM WENG WA Michael, Mr. LI Man Keung Edwin, Mr. LAU Wai Yan Lawson and Mr. PAN Wenyuan, the nonexecutive Director is Mr. WU Jianwei and the independent non-executive Directors are Mr. TAM Ka Hei Raymond, Mr. YUEN Chun Fai and Ms. ZHU Xiaohui.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

All the Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page of the GEM website at www.hkgem.com for at least seven days after the date of publication and on the Company’s website at www.cstl.com.hk.

— 2 —