Sunray Engineering Group Limited — Regulatory Filings 2021

Jun 23, 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.

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Sunray Engineering Group Limited 新威工程集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8616)

PROFIT WARNING

This announcement is made by Sunray Engineering Group Limited (the “ Company ”, and together with its subsidiaries, the “ Group ”) pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of the Stock Exchange (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 would like to inform the shareholders of the Company (the “ Shareholders ”) and potential investors that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 March 2021 (“ FY2021 ”), the Group is expected to record a decrease in net profit and gross profit of approximately 35.8% and 24.5% respectively for FY2021 as compared to that for the year ended 31 March 2020.

Based on the information currently available, the aforesaid expected decrease was mainly attributable to the combined effect of (i) an overall decrease in revenue by approximately 10.2% for FY2021 as compared to that for the year ended 31 March 2020, which was caused by the prolonged outbreak of the COVID-19 pandemic, leading to the postponement and/or slowdown in certain construction projects in Hong Kong particularly in the first half of FY2021; (ii) some of the Group’s building protection work projects on hand with relatively higher gross profit margin were at their ending phase, with revenue already recognised in prior years; and (iii) an increase in administrative expenses arising from the increase in staff costs and professional fee after the listing of the Company on GEM of the Stock Exchange in April 2020.

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The Company is still in the process of finalising its annual results for FY2021. The information contained in this announcement is only based on the preliminary assessment made by the Board on the unaudited consolidated management accounts of the Group for FY2021 with reference to the information currently available, and such information has not been reviewed by the Company’s auditors or the audit committee of the Company and may be subject to adjustments where necessary. Shareholders and potential investors are advised to peruse with care the annual results announcement of the Company for FY2021, which is expected to be released on 29 June 2021.

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

By order of the Board Sunray Engineering Group Limited Lam Ka Wing Chairman and Executive Director

Hong Kong, 23 June 2021

As at the date of this announcement, the Board comprises two executive Directors, namely Mr. Lam Ka Wing and Ms. Wong Pui Yee Edith; and three independent non-executive Directors, namely Ms. Cho Mei Ting, Mr. Ho Ka Kit and Mr. Ng Kwun Wan.

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: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive; and (2) there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page of the GEM website at www.hkgem.com for at least 7 days from the date of its posting and on the Company’s website at www.sunray.com.hk.

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