Champion Alliance International : PROFIT WARNING

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Champion Alliance International Holdings Limited ڿѩ਷ყછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with members' limited liability)

(Stock Code: 1629)

PROFIT WARNING

This announcement is made by Champion Alliance International Holdings Limited (the "Company") pursuant to Rule 13.09 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 Future Ordinance (Chapter 571 of the 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 a preliminary review of the unaudited consolidated management accounts of the Company and its subsidiaries (the "Group") for the year ended 31 December 2020 (the "Year") and information available to the Company, the Group is expected to record a net loss of approximately RMB2.0 million for the Year as compared to a net profit of approximately RMB7.7 million for the year ended 31 December 2019. The Board considers that the net loss was primarily attributable to the combined effect of: (i) the recognition of interest expenses of approximately RMB6.4 million incurred in relation to a loan from an independent third party; and (ii) the decrease of gross profit by approximately RMB9.0 million for the Year.

The Company is still in the process of finalising its annual results for the year ended 31 December 2020 (the "Annual Results"). The information contained in this announcement is based on a preliminary assessment by the Board with reference to the information currently available to it, including the unaudited consolidated management accounts of the Group, which have not been reviewed nor audited by the Company's auditor or the audit committee of the Board, and the actual results of the Group may be different from what is disclosed herein. The Annual Results have not yet been finalised as at the date of this announcement and may be subject to review and adjustment. Shareholders and potential investors are advised to pay attention to the annual results announcement of the Company for the year ended 31 December 2020, which is expected to be published in late March 2021.

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

By Order of the Board

Champion Alliance International Holdings Limited

Chen Shuming

Chairman and Executive Director

Hong Kong, 19 March 2021

As at the date of this announcement, the Board comprises Mr. Chen Shuming, Mr. Chen Xiaolong, Mr. Hu Enfeng, Ms. Wu Cheuk Yan, Mr. Zhang Shihua and Ms. Chen Xiaoyan as executive Directors and Mr. Chen Hua, Mr. Zhao Zhendong and Mr. Chin Chi Ho Stanley as independent non-executive Directors.