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DIT Group Limited Earnings Release 2017

Feb 21, 2018

49427_rns_2018-02-21_9e7179dd-5dcc-42eb-9fa7-ed87cc0005bc.pdf

Earnings Release

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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.

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China Minsheng Drawin Technology Group Limited 中民築友科技集團有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 726)

PROFIT ALERT

This announcement is made by China Minsheng Drawin Technology Group Limited (the “ Company ” and, together with its subsidiaries, the “ Group ”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the “ Board ”) wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors that, based on preliminary assessment and review of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2017 (the “ Year 2017 ”), the Group is expected to record a net profit of approximately HK$110 million attributable to owners of the Company for the Year 2017, as compared to a net loss of approximately HK$101 million for the year ended 31 December 2016. The Board considers that the aforesaid turnaround from a loss position is primarily attributable to (i) a gain of approximately HK$192 million recorded by the Company with respect to the disposal of 51% equity interest in Zhejiang China Minsheng Drawin Technology Co., Limited* (浙江中民築友科技有限公司) by China Minsheng Technology Investment Co., Limited* (中民築友科技投資有限公司), an indirect wholly-owned subsidiary of the Company, further details of which were published in an announcement of the Company dated 27 December 2017; and (ii) the reversal of impairment losses amounting to HK$30 million as recognised in the consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 2016 in respect of two significant receivables (as disclosed in the annual report for the year ended 31 December 2016 of the Company). Shareholders and potential investors of the Company should note that core business of the Group still reported a negative margin, mainly due to slower market penetration and unexpected longer lead time to reach operation maturity.

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The information in this announcement is based on a preliminary assessment by the management of the Company with reference to the unaudited consolidated management accounts of the Group for the Period. Such information has not been finalised, audited or reviewed by the Company’s independent auditor, and has not been confirmed by the audit committee of the Board. Shareholders and potential investors are advised to refer to the details in the results announcement of the Company for the Period, which is expected to be published on or around 28 March 2018. There may be changes or adjustments following review of the unaudited management accounts by the independent auditor of the Company.

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

By order of the Board China Minsheng Drawin Technology Group Limited Yin Jun Chairman of the Board

Hong Kong, 21 February 2018

As at the date of this announcement, the Board comprises Mr. Yin Jun (Chairman), Mr. Chen Domingo and Mr. Mi Hongjun as executive directors; Mr. Chen Donghui, Ms. Gan Ping and Mr. Zhao Xiaodong as non-executive directors; Mr. Chan Chi Hung, Mr. Jiang Hongqing, Mr. Lee Chi Ming, and Mr. Ma Lishan as independent non-executive directors.

  • For identification purposes only.

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