Da Ming International : UNAUDITED OPERATING STATISTICS AND BUSINESS REVIEW FOR THE PERIOD FROM 1 JANUARY 2021 TO 31 MARCH 2021

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DA MING INTERNATIONAL HOLDINGS LIMITED

大明國際控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1090)

UNAUDITED OPERATING STATISTICS AND BUSINESS REVIEW FOR THE PERIOD FROM 1 JANUARY 2021 TO 31 MARCH 2021

The board of directors of Da Ming International Holdings Limited (the "Company") hereby announces certain unaudited operating statistics of the Company and its subsidiaries (the "Group") for the period from 1 January 2021 to 31 March 2021.

Processing services

	Stainless steel	Three months ended 31 March	% Change
		2021		2020
	Sales volume (tonnes)	430,387		342,097	+25.8%
	Processing volume (tonnes)	661,173		511,207	+29.3%
	Processing multiple (note)	1.54		1.49
	Carbon steel	Three months ended 31 March	% Change
		2021		2020
	Sales volume (tonnes)	688,722		461,683	+49.2%
	Processing volume (tonnes)	838,857		525,201	+59.7%
	Processing multiple (note)	1.22		1.14
Note: Processing multiple = Processing volume / Sales volume
Manufacturing operations
		Three months ended 31 March	% Change
		2021		2020
		RMB	RMB
	Revenue	412.9 million	298.3 million	+38.4%
Unaudited results of the Group
		Three months ended 31 March	% Change
		2021		2020
		RMB	RMB
	Turnover	9,558.5 million	6,234.5 million	+53.3%
	Net profit/(loss)	210.5 million	(30.0 million)	+801.7%
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Business review

The sales volume and processing volume of the stainless steel processing services of the Group for the period from 1 January 2021 to 31 March 2021 amounted to 430,387 tonnes and 661,173 tonnes respectively representing an increase of approximately 25.8% and 29.3% respectively as compared with the same period last year.

The sales volume and processing volume of the carbon steel processing services of the Group for the period from 1 January 2021 to 31 March 2021 amounted to 688,722 tonnes and 838,857 tonnes respectively representing an increase of approximately 49.2% and 59.7% respectively as compared with the same period last year.

Revenue from our manufacturing business amounted to approximately RMB412.9 million for the three months ended 31 March 2021 representing an increase of approximately 38.4% as compared with the same period last year.

The Group recorded an unaudited net profit of approximately RMB210.5 million for the three months ended 31 March 2021 representing a significant increase of approximately 801.7% as compared with an unaudited net loss of approximately RMB30.0 million for the same period last year. The increase in turnover and unaudited results for the three months ended 31 March 2021 as compared with the three months ended 31 March 2020 was mainly due to (i) the improvement in operating efficiency and the enhanced processing capacities of the Group; (ii) increase in demand as a result of the recovery of commercial activities in the People's Republic of China in the first quarter of 2021; and (iii) the increase in the market price of steel materials in the first quarter of 2021.

The above operating information is unaudited and is based on preliminary internal information of the Group, which may differ from the figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company on an annual or half-yearly basis due to various uncertainties during the process of collating such information. As such, the above information is provided for investors' reference only. Investors are advised to exercise caution and not to place undue reliance on such information when dealing in the securities of the Company. When in doubt, investors are advised to seek professional advice from professional or financial advisers.

By order of the board of

Da Ming International Holdings Limited

Zhou Keming

Chairman

Hong Kong, 23 April 2021

As at the date of this announcement, the executive Directors are Mr. Zhou Keming (Chairman), Mr. Jiang Changhong (Chief Executive Officer), Ms. Xu Xia, Mr. Zou Xiaoping, Dr. Fukui Tsutomu, Mr. Zhang Feng and Mr. Wang Jian; the non-executive Directors are Mr. Lin Changchun and Mr. Lu Jian; and the independent non-executive Directors are Mr. Cheuk Wa Pang, Prof. Hua Min, Mr. Lu Daming, Mr. Liu Fuxing and Mr. Hu Xuefa.

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