CROSSTEC : INSIDE INFORMATION SIGNIFICANT DECREASE IN LOSS (94KB, PDF)

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CROSSTEC Group Holdings Limited 易緯集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3893)

INSIDE INFORMATION SIGNIFICANT DECREASE IN LOSS

This announcement is made by CROSSTEC Group 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 (the "Listing Rules") on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the Board's preliminary review of the unaudited consolidated management accounts of the Group and other information currently available, the loss attributable to owners of the Company for the six months ended 31 December 2018 (the "Period") is expected to significantly decrease ranging from 85% to 90% as compared to the loss attributable to owners of the Company for the corresponding period in 2017 of approximately HK$8.3 million.

The Board considers that such expected significant decrease in loss is mainly attributable to the increase in revenue and gross profit of the business segment of sale of millwork, furniture and façade fabrication, the largest revenue contributor of the Group, which was primarily due to the implementation of previously delayed business strategies in relation to renovation and new shops roll out of certain major customers of the Group during the Period.

As the Group's unaudited interim results for the Period have not yet been finalized, the information contained in this announcement is only based on the preliminary assessment of the information currently available to the Board, including the unaudited consolidated management accounts of the Group, which are subject to finalization and other potential adjustments, if any, and have not been audited by the Company's auditor nor reviewed bythe Company's audit committee. Details of the Group's financial information and performance will be disclosed in the Group's interim results announcement for the Period which is expected to be published in late February 2019.

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

By Order of the Board

CROSSTEC Group Holdings Limited

Lee Wai Sang

Chairman and Chief Executive Officer

Hong Kong, 17 January 2019

As at the date of this announcement, the Board comprises Mr. Lee Wai Sang, Mr. Lau King Lok and Mr. Leung Pak Yin as executive Directors; and Mr. So Chi Hang and Mr. Heng Ching Kuen Franklin as independent non-executive Directors.