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.

GUANGDONG ADWAY CONSTRUCTION (GROUP) HOLDINGS COMPANY LIMITED*

廣 東 愛 得 威 建 設( 集 團 )股 份 有 限 公 司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 6189)

SUPPLEMENTAL ANNOUNCEMENT

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2018 AND INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2019

Reference is made to the annual report of Guangdong Adway Construction (Group) Holdings Company Limited (the ''Company'') for its financial year ended 31 December 2018 (the ''2018 Annual Report'') and the Company's interim report for the six months ended 30 June 2019 (the ''2019 Interim Report''). Unless otherwise stated, capitalized terms used herein shall bear the same meanings as defined in the 2018 Annual Report and 2019 Interim Report.

The Board would like to supplement the following additional information to the 2018 Annual Report and the 2019 Interim Report:

1. USE OF PROCEEDS FROM THE INITIAL PUBLIC OFFERING COMPLETED IN NOVEMBER 2016

As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2018 Annual Report, the unutilized net proceeds amounted to approximately RMB21.15 million as of 31 December 2018.

As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2019 Interim Report, the unutilized net proceeds amounted to approximately RMB21.10 million as of 30 June 2019.

As of 30 June 2019, the Company intended to use the remaining proceeds of approximately RMB21.10 million as outlined in the table below.

- 1 -

Intended

allocation of

Amount of

Expected time

net proceeds for

Amount utilized

unutilized

for use of

each use in

up to 30 June

proceeds as of

unutilized

Prospectus

2019

30 June 2019

proceeds

Intended use as stated in the Prospectus

(RMB million)

(RMB million)

(RMB million)

(Note)

1

To establish an internal online supply-chain

70.78

68.78

2.00

Before

management platform

31

December,

2019

2

To further expand the geographical coverage

40.68

40.16

0.52

Before

of our services and optimise our branch

31

December,

network

2019

3

To improve and upgrade our internal

31.12

19.50

11.62

Before

integrated IT infrastructure for business

31

December,

management

2019

4

To strengthen our research and development

27.05

20.46

6.59

Before

capabilities and establish a research and

31

December,

development laboratory

2019

5

To upgrade our design system and recruit

13.84

13.47

0.37

Before

more design professionals

31

December,

2019

6

To supplement working capital

19.93

19.93

0.00

Before

31

December,

2019

Total

203.40

182.30

21.10

Note: It will be subject to change based on the current and future development of market conditions.

2. USE OF PROCEEDS FROM H SHARES PLACING COMPLETED IN NOVEMBER 2018

As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2018 Annual Report, the unutilized net proceeds amounted to approximately RMB60.1 million as of 31 December 2018, of which approximately RMB15.0 million was planned to be used as working capital.

As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2019 Interim Report, as of 30 June 2019, approximately RMB60.1 million from the H shares placing have been fully utilized, of which approximately RMB15.0 million was fully utilized as working capital.

- 2 -

As of 30 June 2019, the breakdown of the use of proceeds as working capital (RMB15 million) includes (i) payment of tender bond (RMB1.00 million), (ii) procurement of project materials (excluding the procurement of raw materials for Procurement Online Platform) (RMB4.04 million), (iii) payment of performance bond (RMB1.91million), (iv) prepayment of income tax (RMB7.68 million); and (v) payment of administrative and general expenses (RMB0.37 million). Upon the completion of H shares placing, it had been expected that the proceeds from H shares placing raised for the purpose of working capital would be fully utilized by 30 June 2019. The Company fully utilized such proceeds before 30 June 2019 in accordance with the expected timeframe.

By Order of the Board

Guangdong Adway Construction (Group) Holdings Company Limited*

廣東愛得威建設(集團)股份有限公司

Mr. Ye Yujing

Chairman, Executive Director and Chief Executive Officer

11 October 2019, Shenzhen, the PRC

As at the date of this announcement, the Board of the Company comprises Mr. Ye Yujing, Mr. Liu Yilun, Ms. Ye Xiujin, Mr. Ye Guofeng, and Mr. Ye Niangting, as Executive Directors; Ms. Li Yuanfei as Non-Executive Director; and Mr. Cheung Wai Yeung Michael, Mr. Lin Zhiyang and Ms. Zhai Xin, as Independent Non-executive Directors.

  • For identification purpose only

- 3 -

Attachments

  • Original document
  • Permalink

Disclaimer

Guangdong Adway Construction Group Holdings Co. Ltd. published this content on 11 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2019 10:25:09 UTC