HITECH GROUP AUSTRALIA LIMITED — AGM Information 2015

Oct 29, 2015

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HiTech Group Australia Limited 2015 Annual General Meeting – 30 October 2015

Chairman’s Address to Shareholders

Welcome to our 16th Annual General Meeting as a publicly listed company.

FY2015 Results Outstanding

For the financial year ended 30 June, 2015, the company's operating revenue is $15,104,907, an increase of 88% over the previous corresponding period (pcp) . The permanent placement income was 17% higher and contracting revenue was 89% higher than the pcp.

Net profit after taxation (NPAT) is $ 807,721 (FY2013 net profit: $164,504 ). Gross Profit is $1,209,622, (FY14 Net loss: $150,658). Our Net tangible Assets (NTA) is $0.12 per share.

The increase in profitability was mainly due to an in increase in contracting revenue. HiTech continues to win new business and is increasing its client base steadily.

Outlook for FY2016 is significantly positive and optimistic

Our outlook for FY2016 is significantly positive, optimistic, depends on the prevailing economic conditions at the time and the demand for human talent from the private sector and government.

For the first quarter (Q1) FY2016, I am delighted to report that operating revenue increased substantially by 37% over pcp, mainly due to an increase in both contracting and permanent placement revenue.

For the first quarter FY2016, Gross Profit increased by 42% to $735,802 (FY2015: $519,885 ), Net Profit After Tax increased to $313,413 (FY2015: -$33,031).

Based on internal management accounts for the first quarter of FY2016, assuming similar market conditions and a recovery in our listed investments in the Australian stock market, the Group’s expected Revenue, Gross Profit and Operating Profit for the full financial year will be higher . Exact results can't yet be predicted but we will keep the market updated as required.

To sum up, despite the challenging market, HiTech remains resilient, with significant

growing revenues, profit, a strong balance sheet, solid cash reserves and no debt, as always.

We are determined to improve our profit results and will continue to do our best to improve overall performance and growth.

I am delighted with the results of Q1. It is a great start for the year! The future is bright. HiTech will do better than ever.

I thank you all for your support and commitment as shareholders, staff members, candidates, contractors and valued clients.

Ray Hazouri Chairman and Chief Executive Officer

30 October 2015

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