Lapco Holdings Limited — Earnings Release 2020

Mar 17, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) 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.

Lapco Holdings Limited 立高控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8472)

POSITIVE PROFIT ALERT

This announcement is made by Lapco Holdings Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) pursuant to Rule 17.10(2) 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).

The board (the “ Board ”) of directors (the “ Directors ”) of the Company hereby informs the shareholders of the Company (the “ Shareholders ”) and potential investors that, based on the Board’s preliminary review of the unaudited consolidated management accounts (the “ 2020 Management Accounts ”) of the Company for the year ended 31 December 2020 (the “ Period ”) which have not been audited by the auditors of the Company nor reviewed by the audit committee of the Company, it is expected that the Group will record a profit before tax of not more than HK$19.3 million for the Period. Based on the information available to the Company immediately preceding the publication of this announcement, the Board considers that the change from net loss before tax of HK$16.5 million for the year ended 31 December 2019 to net profit before tax for the Period was mainly attributed to 1) increase of approximately 14.8% in revenue during the Period as compared with that for the year ended 31 December 2019, 2) better margins of new tender contracts awarded and our strategies of enhancing our operational efficiencies, and 3) other income relating to the Employment Support Scheme, anti-epidemic fund subsidy on commercial vehicles and administration fee on anti-epidemic fund for cleaning workers.

The information contained in this announcement is only based on the Board’s preliminary assessment of the information currently available to the Company and the 2020 Management Accounts. The Company is still in the progress of finalizing such accounts.

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

By order of the Board of Lapco Holdings Limited Lam Pak Ling Chairman, Chief Executive Officer and Executive Director

Hong Kong, 17 March 2021

As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Lam Pak Ling, Mr. Cai Weiming, Mr. Wong Tsz Chun, Jacky and Mr. Tam Yiu Shing, Billy; and three independent non-executive Directors, namely Mr. Mak Kwok Kei, Ms. Lam Kit Yan and Mr. Ho Kin Wai.

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 matters the omission of which would make any statement in this announcement misleading.

This announcement will remain on the “Latest Company Announcements” page of the GEM website at http://www.hkgem.com for at least 7 days from the date of its posting and on the Company’s website at www.lapco.com.hk.

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