Wang On Group Limited — Earnings Release 2024

Nov 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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WANG ON GROUP LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 1222)

INSIDE INFORMATION

POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.

The Board wishes to inform shareholders and potential investors of the Company that based on preliminary review of the draft unaudited consolidated management accounts of the Group for the six months ended 30 September 2023 and the information currently available to the Board, the Group is expected to record a turnaround from the loss attributable to owners of the parent for the six months ended 30 September 2022 of approximately HK$23.6 million to a profit attributable to owners of the parent of not more than HK$130.0 million for the six months ended 30 September 2023.

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

This announcement is made by Wang On Group Limited (宏安集團有限公司)[*] (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “ SFO ”).

The board of directors (the “ Board ” or the “ Directors ”) of the Company wishes to inform shareholders and potential investors of the Company that based on preliminary review of the draft unaudited consolidated management accounts of the Group for the six months ended 30 September 2023 (the “ Review Period ”) and the information currently available to the Board, the Group is expected to record a turnaround from the loss attributable to owners of the parent for the six months

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ended 30 September 2022 of approximately HK$23.6 million to a profit attributable to owners of the parent of not more than HK$130.0 million for the six months ended 30 September 2023. This was primarily attributable to, among other things, (i) increase in share of result of joint ventures, and (ii) increase in sales and gross profit generated from the production and sale of pharmaceutical and health food products, as partially offset by (a) decrease in gross profit resulting from decrease in delivery of property projects and (b) increase in finance costs arising from interest rates increment during the Review Period as compared to those for the corresponding period in 2022.

As the Company is still in the course of preparing its interim results for the six months ended 30 September 2023, the information contained in this announcement is solely based on the preliminary review of the Board after reviewing the draft unaudited consolidated management accounts of the Group for the six months ended 30 September 2023 which have yet to be finalised. Details of the performance of the Group for the six months ended 30 September 2023 will be disclosed in the interim results announcement of the Company, which is expected to be published by the end of November 2023 in accordance with the requirements under the Listing Rules.

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

By Order of the Board WANG ON GROUP LIMITED ( 宏安集團有限公司 )[*] Tang Ching Ho Chairman and Executive Director

Hong Kong, 13 November 2023

As at the date of this announcement, the executive Directors are Mr. Tang Ching Ho, Ms. Yau Yuk Yin and Ms. Stephanie and the independent non-executive Directors are Mr. Wong Chun, Justein, Mr. Siu Kam Chau and Mr. Chan Yung.

* For identification purpose only

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