CMIC Ocean En-Tech Holding Co., Ltd. provided earnings guidance for the year ending 31 December 2022. The Group is expected to record additional net profit of approximately USD 19,400,000 for the year ending 31 December 2022. WME is a jointly controlled entity, the shares of which are held as to 50% by Alliance Offshore Group Limited (an indirect wholly-owned subsidiary of the Company) and 50% by China Merchants Ocean Strategy & Technology Fund (L.P.), an indirect wholly-owned subsidiary of China Merchants Industry Holdings Co., Ltd. (a controlling shareholder of the Company).

While the Group is expected to have positive net profit from its other businesses and investments this year, with the additional net profit from the Distributions, there would likely be a significant increase in the net profit for the year ending 31 December 2022. The audit of the financial performance of the Group for the year ending 31 December 2022 has yet to commence and the Group would provide Shareholders and public investors with further update information if and as required by the Listing Rules.