Novautek Technologies Group Limited — Earnings Release 2023

Sep 13, 2023

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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APPLIED DEVELOPMENT HOLDINGS LIMITED 實力建業集團有限公司[＊]

(Incorporated in Bermuda with limited liability)

(Stock Code: 519)

PROFIT ALERT – REDUCTION IN LOSS

This announcement is made by Applied Development Holdings Limited (the “ Company ” 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 (the “ Listing Rules ”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Based on the information currently available to the board (the “ Board ”) of directors (the “ Directors ”) of the Company, the Board wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors that the Group may record a loss of approximately HK$45 million for the financial year ended 30 June 2023, as compared to the loss of approximately HK$163 million for the financial year ended 30 June 2022.

The Board considered that the reduce in loss was mainly attributable to, among others, the following factors:

• (i) a decrease in fair value loss of financial assets at fair value through profit or loss from approximately HK$129 million for the financial year ended 30 June 2022 to approximately HK$29 million for the financial year ended 30 June 2023, mainly derived from the fair value loss from fund investments;

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• (ii) an increase in revenue and gross profit from the Group’s resort and property development segment, which was because the properties were delivered to customers in bulk for the financial year ended 30 June 2023 but no bulk delivery was arranged for the financial year ended 30 June 2022. Thus the overall gross profit of the Group increased from approximately HK$7 million for the financial year ended 30 June 2022 to approximately HK$21 million for the financial year ended 30 June 2023; and

• (iii) a decrease in the fair value loss of the Group’s investment properties from approximately HK$22 million for the financial year ended 30 June 2022 to approximately HK$14 million for the financial year ended 30 June 2023.

The Board wishes to emphasize that the above-mentioned factors (i) and (iii) are non-cash in nature.

The information contained in this announcement is only a preliminary assessment by the Board with reference to the unaudited management accounts of the Group for the financial year ended 30 June 2023 as well as operational data currently available to the Board which have not been reviewed and audited by the Company’s auditor and therefore may subject to amendments and valuation adjustments. The final results of the Group for the financial year ended 30 June 2023 may be different from the information disclosed in this announcement. Shareholders and potential investors are advised to refer to details in the announcement of the final results of the Group for the financial year ended 30 June 2023 which is expected to be released in late September 2023.

Shareholders and potential investors should exercise caution when dealing in the shares of the Company.

By order of the Board Applied Development Holdings Limited Wu Zhanming

Chairman, Acting Chief Executive Officer and Executive Director

Hong Kong, 13 September 2023

As at the date of this announcement, the executive Directors are Mr. Wu Zhanming (Chairman and Acting Chief Executive Officer) and Mr. Wu Tao; and the independent non-executive Directors are Mr. Yu Tat Chi, Michael, Mr. Zhu Xinhui and Dr. Chan Kin Keung Eugene SBS, BBS, JP.

• For identification purposes only

In the event of inconsistency, the English text of this announcement shall prevail over the Chinese text thereof.

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