PW Medtech Group Limited — Earnings Release 2020

Nov 25, 2020

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.

PW MEDTECH GROUP LIMITED 普 華 和 順 集 團 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1358)

UNAUDITED RESULTS FOR THE THIRD QUARTER OF 2020 OF CHINA BIOLOGIC PRODUCTS HOLDINGS, INC.

This announcement is made by PW Medtech Group Limited (the ‘‘Company’’) pursuant to the requirements of Rule 13.09 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).

China Biologic Products Holdings, Inc. (‘‘CBPO’’), a major operating associate of the Company, is a company listed on The NASDAQ Stock Market LLC. As of the date of this announcement, the Company owns approximately 13.72% of the outstanding share capital of CBPO. On November 24, 2020, the board of directors of CBPO approved the release of its unaudited financial results for the third quarter of 2020. An earnings release announcing its unaudited financial results for the third quarter of 2020 (the ‘‘Earnings Release’’) was filed with the United States Securities and Exchange Commission. A full text of the Earnings Release can be visited at https://www.sec.gov/cgi-bin/browseedgar?CIK=cbpo&owner=exclude&action=getcompany&Find=Search.

The unaudited condensed consolidated financial statements of CBPO for the third quarter of 2020 (the ‘‘CBPO Unaudited Condensed Consolidated Financial Information’’) contained in the Earnings Release have been prepared in accordance with the accounting principles generally accepted in the United States of America (the ‘‘U.S. GAAP’’).

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Set out below is a summary of the key items of the CBPO Unaudited Condensed Consolidated Financial Information and non-U.S. GAAP adjusted financial information contained in the Earnings Release.

		For the nine
		months ended
	For the three	September 30,
	months ended	2020 and as of
	September 30,	September 30,
	2020	2020
	(in United States	(in United States
	dollars)	dollars)
Sales	138,535,626	412,239,400
Gross profit	92,465,693	269,829,035
Net income attributable to CBPO	39,544,643	128,610,777
Total assets	—	2,139,512,852
Net assets	—	1,975,688,394
Non-U.S. GAAP adjusted net income attributable to CBPO	55,075,707	159,873,753

Shareholders and investors are reminded that the CBPO Unaudited Condensed Consolidated Financial Information and its summary disclosed in this announcement are prepared in accordance with the U.S. GAAP, which are different from the Hong Kong Financial Reporting Standards used by the Company for preparing its consolidated financial statements, have not been reviewed or audited by the Company’s independent auditor and may require adjustment during the course of review or audit. The non-U.S. GAAP adjusted net income is also not an alternative to CBPO’s net profit as determined in accordance with the U.S. GAAP. In addition, the information contained in the Earnings Release is limited solely to the consolidated operation of CBPO, which does not provide a full picture of the operation status of the Company and its subsidiaries.

Potential investors and shareholders of the Company are reminded not to place undue reliance on such information and should exercise caution when dealing with the securities of the Company.

By order of the Board PW Medtech Group Limited Yue’e Zhang Chairman & Chief Executive Officer

Hong Kong, November 25, 2020

As at the date of this announcement, the board of directors of the Company comprises one executive Director, namely, Ms. Yue’e Zhang; two non-executive Directors, namely, Mr. Jiang Liwei and Mr. Lin Junshan; and three independent nonexecutive Directors, namely, Mr. Zhang Xingdong, Mr. Wang Xiaogang and Mr. Chen Geng.

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